HEICO Corporation

HEICO delivered a record-setting third quarter of fiscal 2025, with diluted EPS of $1.26 — up sharply from $0.97 a year ago — and consolidated net sales climbing 16% to $1.15 billion, as robust double-digit organic growth across both business segments drove the company's strongest quarterly performance across all key financial metrics. The standout driver was the Flight Support Group, which posted its twentieth consecutive quarter of sequential net sales growth, with segment revenues rising 18% to $802.66 million and operating margin expanding 220 basis points to 24.7%, fueled by broad-based demand for repair and overhaul parts and specialty products. EBITDA rose 21% to $316.45 million, while the net debt to EBITDA ratio improved to 1.90x, reflecting a stronger balance sheet as the company deployed $629.93 million in acquisitions over the nine-month period — a dramatic acceleration from $55.21 million a year ago. Investor sentiment has turned notably bullish following the results, with the stock gaining meaningful ground on confidence in management's strategy. Looking ahead, HEICO expects continued net sales growth across both segments, underpinned by sustained organic demand and contributions from recently completed acquisitions.