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May 27, 2020, 10:06 a.m. EDT

Heico Up on Q2 Results Beat

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May 27, 2020 (Baystreet.ca via COMTEX) -- Heico Corp /zigman2/quotes/207361354/composite HEI +1.29% saw its shares hike early Wednesday after it reported better-than-expected results for its second quarter on Tuesday.

The company, out of Hollywood, Florida, reported that net income increased 22% to a record $197.3 million, or $1.44 per diluted share, in the first six months of fiscal 2020, up from $161.1 million, or $1.18 per diluted share, in the first six months of fiscal 2019.

In the second quarter of fiscal 2020, net income decreased 8% to $75.5 million, or 55 cents per diluted share, as compared to $81.8 million, or 60 cents per diluted share, in the second quarter of fiscal 2019.

Operating income increased 1% to a record $219.2 million in the first six months of fiscal 2020, up from $217.1 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, operating income decreased 9% to $108.2 million, as compared to $119.2 million in the second quarter of fiscal 2019.

The Company's consolidated operating margin improved to 22.5% in the first six months of fiscal 2020, up from 22.1% in the first six months of fiscal 2019. The Company's consolidated operating margin was 23.1% in both the second quarter of fiscal 2020 and 2019.

EBITDA increased 1% to $262.7 million in the first six months of fiscal 2020, up from $259.8 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, EBITDA decreased 9% to $130.0 million, as compared to $142.2 million in the second quarter of fiscal 2019.

HEI shares climbed $6.15, or 6.2%, to $105.77.

COMTEX_366189317/2559/2020-05-27T10:06:10

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/207361354/composite
US : U.S.: NYSE
$ 104.22
+1.33 +1.29%
Volume: 465,104
Aug. 11, 2020 3:48p
P/E Ratio
39.42
Dividend Yield
0.15%
Market Cap
$12.37 billion
Rev. per Employee
$340,640
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