Compared to Estimates, Heico Corporation (HEI) Q3 Earnings: A Look at Key Metrics
For the quarter ended July 2023, Heico Corporation (HEI) reported revenue of $722.9 million, up 26.9% over the same period last year. EPS came in at $0.77, compared to $0.60 in the year-ago quarter.
The reported revenue represents a surprise of +3.67% over the Zacks Consensus Estimate of $697.34 million. With the consensus EPS estimate being $0.74, the EPS surprise was +4.05%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Heico Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Electronic Technologies Group (ETG): $325.87 million versus the four-analyst average estimate of $298.62 million. The reported number represents a year-over-year change of +33.4%.
Net Sales- Flight Support Group (FSG): $405.04 million versus the four-analyst average estimate of $412.99 million. The reported number represents a year-over-year change of +22.6%.
Net Sales- Corporate & Intersegment: -$8.01 million versus the three-analyst average estimate of -$20.39 million. The reported number represents a year-over-year change of +62.2%.
Operating income- Flight Support Group: $89.17 million compared to the $93.71 million average estimate based on four analysts.
Operating income- Other, primarily corporate: -$13.96 million versus the four-analyst average estimate of -$13.98 million.
Operating income- Electronic Technologies Group: $74.16 million versus $70.90 million estimated by four analysts on average.
View all Key Company Metrics for Heico Corporation here>>>
Shares of Heico Corporation have returned -4.5% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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