BUZZ-HEICO Corp falls after missing Q4 sales estimates

Reuters2024-12-18

** Aircraft generic parts maker HEICO Corp's HEI.N shares fall ~5% to $247.11 premarket

** On Tuesday, HEI reported Q4 sales of $1.01 bln, missing analysts' estimate of $1.03 bln, according to data compiled by LSEG

** Q4 adjusted profit of 99 cents per share came slightly above estimates of 98 cents per share, helped by lower tax rate

** Co's Electronic Technologies Group $(ETG)$ segment's Q4 sales declined 2% from a year ago, on lower defense and "other" electronics sales

** "Results were not superb; however, this was as expected given ETG has yet to recover" - Jefferies

** HEI's larger Flight Support Group segment's Q4 sales were up 12% yoy organically, driven by increased demand for aftermarket replacement parts for aircrafts

** As of last close, stock had risen 45.3% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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