Aerospace and defense company HEICO (NYSE:HEI) will be reporting earnings this Tuesday after market hours. Here’s what to expect.
HEICO beat analysts’ revenue expectations last quarter, reporting revenues of $1.38 billion, up 25.3% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EBITDA and EPS estimates.
Is HEICO a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting HEICO’s revenue to grow 18% year on year, improving from the 15.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. HEICO has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at HEICO’s peers in the aerospace segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Astronics delivered year-on-year revenue growth of 27%, beating analysts’ expectations by 6%, and ATI reported revenues up 10.6%, topping estimates by 3.4%. Astronics traded up 17.3% following the results while ATI was also up 11.1%.
Read our full analysis of Astronics’s results here and ATI’s results here.
Investors in the aerospace segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. HEICO’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $389.26 (compared to the current share price of $355.51).
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