HEICO Q1 Net Income Hits $190.2M; Sales Up 14% to $1.18B
HEICO Corporation posted record fiscal Q1 net income of $190.2 million, up 13%, with net sales rising 14% to $1.1786 billion and operating income climbing 15% to $259.9 million, lifting its operating margin to 22.1%. Flight Support Group sales jumped 15% to $820 million, driving 21% operating income growth to $200.7 million.
1. Record Q1 Financial Results
HEICO Corporation delivered record first quarter results for fiscal 2026, with net income rising 13% to $190.2 million (or $1.35 per diluted share) versus $168.0 million a year earlier. Net sales increased 14% to $1,178.6 million, operating income climbed 15% to $259.9 million (22.1% margin), and EBITDA grew 14% to $312.0 million.
2. Segment Performance
The Flight Support Group led growth, posting net sales of $820.0 million, up 15%, and operating income of $200.7 million, up 21%, as organic demand surged across all product lines and recent acquisitions contributed. The Electronic Technologies Group also saw double-digit organic sales gains across aerospace and defense electronics.
3. Cash Flow and Leverage
Operating cash flow totaled $178.6 million, down from $203.0 million due to a leadership compensation distribution and higher performance-based payouts. Leverage increased following an acquisition, with total debt to net income at 3.52x (versus 3.14x) and net debt to EBITDA at 1.79x (versus 1.60x).
4. Outlook and Strategy
Management forecasts continued sales momentum driven by organic demand and recent acquisitions across both segments. The company remains focused on selective acquisitions, disciplined financial management and long-term shareholder value creation through strategic growth initiatives.