Company: HEI-A
Filing Date: 2025-02-28
Form Type: 10-Q
Source: 0000046619-25-000015
Chunk: 5

Company: HEICO CORP
Filing Date: 2025-02-28
Form: 10-Q
Item: Item 1
Chunk 5
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272)(7,272)Accumulated other comprehensive loss(53,586)(26,076)Retained earnings3,180,102 3,062,166 Total HEICO shareholders’ equity3,746,527 3,636,877 Noncontrolling interests64,201 60,529 Total shareholders’ equity3,810,728 3,697,406 Total liabilities and equity$7,890,711 $7,592,822 

The accompanying notes are an integral part of these condensed consolidated financial statements.

2

Index

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED

(in thousands, except per share data)

Three months ended January 31,20252024Net sales$1,030,222 $896,363 Operating costs and expenses:Cost of sales624,560 549,594 Selling, general and administrative expenses178,857 166,559 Total operating costs and expenses803,417 716,153 Operating income226,805 180,210 Interest expense(32,458)(38,607)Other income919 679 Income before income taxes and noncontrolling interests195,266 142,282 Income tax expense 13,700 16,800 Net income from consolidated operations181,566 125,482 Less: Net income attributable to noncontrolling interests13,611 10,784 Net income attributable to HEICO$167,955 $114,698 Net income per share attributable to HEICO shareholders:Basic$1.21 $.83 Diluted$1.20 $.82 Weighted average number of common shares outstanding:Basic138,837 138,265 Diluted140,484 139,893 

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

Index

HEICO CORPORATION AND SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF 

COMPREHENSIVE INCOME – UNAUDITED

(in thousands)

Three months ended January 31,20252024Net income from consolidated operations$181,566 $125,482 Other comprehensive (loss) income:Foreign currency translation adjustments(28,814)14,761 Amortization of unrealized loss on defined benefit pension plan, net of tax1 13 Total other comprehensive (loss) income (28,