Heico Corp
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$456.00 | Fxlbd | Jqddkcqm |
Heico Earnings: Flight Support Overdelivers, Slower Electronic Segment; Fair Value Estimate Intact
Heico's third-quarter 2024 operating margins came within a hair's breadth of our overall expectations, though the flight support group segment delivered $80 million more revenue and $30 million more operating profit than we anticipated. That outperformance was more or less offset in the quarter by slower growth in the electronic technologies group. We reined in our medium-term profit growth forecast for the electronic technologies segment, which offset the time value of money and left our fair value estimate at $173. We see the shares as overvalued by the market.