HEICO Corporation has released that net sales increased 20% to a record US$609.6 million in the fourth quarter of fiscal year 2022, up from US$509.4 million in the fourth quarter of fiscal year 2021. Operating income increased 27% to US$146.5 million in the fourth quarter, up from US$115.0 million in the fourth quarter of 2021. The company’s consolidated operating margin improved to 24.0% in the fourth quarter, up from 22.6% in the fourth quarter of 2021.
Net sales increased 18% to US$2,208.3 million in the fiscal year ended October 31, 2022, up from US$1,865.7 million in the fiscal year ended October 31, 2021. Operating income increased 26% to US$496.8 million in the fiscal year 2022, up from US$392.9 million in the fiscal year 2021. The company’s consolidated operating margin was 22.5% in the fiscal year 2022, as compared to 21.1% in the fiscal year ended 2021.
Improvement in the commercial aerospace market has resulted in nine consecutive quarters of sequential growth in net sales and operating income at the Flight Support Group.
Net income increased 13% to US$97.2 million in the fourth quarter of 2022, up from US$86.1 million in the fourth quarter of 2021. Net income increased 16% to US$351.7 million in the fiscal year ended October 31, 2022, up from US$304.2 million in the fiscal year 2021. Net income in both fiscal 2022 periods was adversely impacted by a higher effective income tax rate.
EBITDA increased 23% to US$172.2 million in the fourth quarter 2022, up from US$139.5 million in the fourth quarter of 2021. EBITDA increased 22% to US$593.7 million in the fiscal year 2022, up from US$487.4 million in the fiscal year 2021. (£1.00 = US$1.20 at time of publication)
