Company: HEI-A
Filing Date: 2025-01-31
Form Type: DEF 14A
Source: 0001140361-25-002543
Chunk: 2

Company: HEICO CORP
Filing Date: 2025-01-31
Form: DEF 14A
Chunk 2
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0.01 par value per share (“Common Stock”), and Class A Common Stock, $0.01 par value per share (“Class A Common Stock”), as of the close of business on January 17, 2025 (the “Record Date”) will be entitled to vote at the Annual Meeting. On that date, there were outstanding 55,018,646 shares of Common Stock, each entitled to one vote, and 83,848,845 shares of Class A Common Stock, each entitled to 1/10th vote per share.

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TABLE OF CONTENTS Dear Fellow HEICO Shareholders: Fiscal 2024 was another excellent and record year for HEICO Corporation. Our net sales increased 30% to a record $3.858 billion, up from $2.968 billion in fiscal 2023, while net income increased 27% to a record $514.1 million, or $3.67 per diluted share, up from $403.6 million, or $2.91 per diluted share, in fiscal 2023. Our operating income increased 32% to a record $824.5 million, up from $625.3 million in fiscal 2023. Notably, our consolidated operating margin continued its improvement trend, reaching 21.4% versus 21.1% in fiscal 2023. Recognizing the Company’s excellent financial results, HEICO’s Board of Directors increased the Company’s semi-annual cash dividend by 10% to $0.11 per share simultaneous with declaring our 92nd consecutive semi-annual cash dividend since 1979, which was followed in early fiscal 2025 by the payment of another $0.11 per share cash dividend. We are extremely proud that nearly all of our Team Members in the United States receive these dividends through their participation in our 401(k) plan, through which HEICO Team Members receive Company stock every year. HEICO’s growth was achieved through a combination of strong organic growth, acquisitions and efficiency. Our commercial aviation businesses and product lines grew meaningfully as the Company’s persistent product development over the past decade and beyond yielded outstanding results at a time when existing aircraft utilization also rose and commercial aircraft replacement parts were in high demand. Our long-term commitment to new product development and serving our customers proved wise and allowed us to offer a record number of new products this past year. In addition, our defense sales rose during the year, enabled by improving markets and our investments in product development, as well as production