HEICO Corporation’s net income up 22% in first half of fiscal 2020

HEICO Corporation has reported that net income increased 22% to US$197.3 million in the first six months of fiscal 2020, up from US$161.1 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, net income decreased 8% to US$75.5 million as compared to US$81.8 million in the second quarter of fiscal 2019.

Operating income increased 1% to US$219.2 million in the first six months of fiscal 2020, up from US$217.1 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, operating income decreased 9% to US$108.2 million, as compared to US$119.2 million in the second quarter of fiscal 2019.

The company’s consolidated operating margin improved to 22.5% in the first six months of fiscal 2020, up from 22.1% in the first six months of fiscal 2019. The company’s consolidated operating margin was 23.1% in both the second quarter of fiscal 2020 and 2019.

Net sales decreased 1% to US$974.4 million in the first six months of fiscal 2020, as compared to US$981.8 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, net sales decreased 9% to US$468.1 million, as compared to US$515.6 million in the second quarter of fiscal 2019.

EBITDA increased 1% to US$262.7 million in the first six months of fiscal 2020, up from US$259.8 million in the first six months of fiscal 2019. In the second quarter of fiscal 2020, EBITDA decreased 9% to US$130.0 million, as compared to US$142.2 million in the second quarter of fiscal 2019.

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