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Heico Corp (HEI) SEC Filing 10-K Annual Report for the fiscal year ending Monday, October 31, 2022

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HEI Annual Reports

Heico Corp

CIK: 46619 Ticker: HEI

EXHIBIT 99.1




December 19, 2022
Victor H. Mendelson (305) 374-1745 ext. 7590
Carlos L. Macau, Jr. (954) 987-4000 ext. 7570

HEICO CORPORATION REPORTS RECORD OPERATING INCOME AND NET
SALES FOR THE FOURTH QUARTER AND FULL FISCAL YEAR

4th Quarter of Fiscal 2022 Operating Income Increased 27%
on a Net Sales Increase of 20%; Full Fiscal Year 2022 Net Income, Operating Income and Net Sales Set All-Time Records

HOLLYWOOD, FL and MIAMI, FL -- HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported net sales increased 20% to a record $609.6 million in the fourth quarter of fiscal 2022, up from $509.4 million in the fourth quarter of fiscal 2021. Operating income increased 27% to a record $146.5 million in the fourth quarter of fiscal 2022, up from $115.0 million in the fourth quarter of fiscal 2021. The Company's consolidated operating margin improved to 24.0% in the fourth quarter of fiscal 2022, up from 22.6% in the fourth quarter of fiscal 2021.

Net sales increased 18% to a record $2,208.3 million in the fiscal year ended October 31, 2022, up from $1,865.7 million in the fiscal year ended October 31, 2021. Operating income increased 26% to a record $496.8 million in the fiscal year ended October 31, 2022, up from $392.9 million in the fiscal year ended October 31, 2021. The Company's consolidated operating margin was 22.5% in the fiscal year ended October 31, 2022, as compared to 21.1% in the fiscal year ended October 31, 2021.

Improvement in the commercial aerospace market has resulted in nine consecutive quarters of sequential growth in net sales and operating income at the Flight Support Group.

Net income increased 13% to $97.2 million, or $.70 per diluted share, in the fourth quarter of fiscal 2022, up from $86.1 million, or $.62 per diluted share, in the fourth quarter of fiscal 2021. Net income increased 16% to a record $351.7 million, or $2.55 per diluted share, in the fiscal year ended October 31, 2022, up from $304.2 million, or $2.21 per diluted share, in the fiscal year ended October 31, 2021. Net income in both fiscal 2022 periods was adversely impacted by a higher effective income tax rate.




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The following information was filed by Heico Corp (HEI) on Monday, December 19, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Heico Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Heico Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Auditor Information
Document Information
Entity Information
Entity Listing Information
Consolidated Balance Sheets
Consolidated Balance Sheets [Parenthetical]
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity [Parenthetical]
Supplemental Disclosure Of Cash Flow Information
Supplemental Disclosure Of Cash Flow Information
Supplemental Disclosures Of Cash Flow Information
Acquisitions
Acquisitions (Details Textuals)
Acquisitions (Fair Value Of Acquired Assets) (Details)
Acquisitions (Proforma) (Details)
Acquisitions (Tables)
Acquisitions (Total Consideration) (Details)
Acquisitions (Weighted Average Intangible Assets Useful Life) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Commitments And Contingencies (Product Warranty) (Details)
Commitments And Contingencies (Tables)
Employee Retirement Plans
Employee Retirement Plans (Details Textuals)
Employee Retirement Plans (Tables)
Employee Retirement Plans, Defined Contribution Plan Share-Based Activity (Details)
Fair Value Measurements
Fair Value Measurements (Details Textuals)
Fair Value Measurements (Tables)
Fair Value Measurements, Assets And Liabilities, Measured At Fair Value Using Unobservable Inputs (Details)
Fair Value Measurements, Assets And Liabilities, Measured On Recurring Basis (Details)
Fair Value Measurements, Contingent Consideration Level 3 Valuation Inputs (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details Textuals)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets, Goodwill (Details)
Goodwill And Other Intangible Assets, Identifiable Intangible Assets (Details)
Income Taxes
Income Taxes (Details Textuals)
Income Taxes (Tables)
Income Taxes, Current And Deferred Expense Components (Details)
Income Taxes, Deferred Tax Assets And Liabilities (Details)
Income Taxes, Domestic And Foreign Income (Details)
Income Taxes, Rate Reconciliation (Details)
Income Taxes, Unrecognized Tax Benefits (Details)
Leases
Leases (Details Textuals)
Leases (Future Minimum Lease Payments) (Details)
Leases (Lease Term And Discount Rates) (Details)
Leases (Operating Lease Expense) (Details)
Leases (Rou Assets And Lease Liabilities) (Details)
Leases (Supplemental Cash Flow Information) (Details)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Details Textuals)
Long-Term Debt (Details)
Long-Term Debt (Tables)
Net Income Per Share Attributable To Heico Shareholders
Net Income Per Share Attributable To Heico Shareholders (Details)
Net Income Per Share Attributable To Heico Shareholders (Tables)
Operating Segments
Operating Segments (Geographical Information) (Details)
Operating Segments (Last Three Years, Segment Information) (Details)
Operating Segments (Tables)
Operating Segments (Total Assets) (Details)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (Aggregate Redemption Amount) (Details)
Redeemable Noncontrolling Interests (Details Textuals)
Redeemable Noncontrolling Interests (Put Rights) (Details)
Redeemable Noncontrolling Interests (Tables)
Revenue (Contract Assets And Liabilities) (Details)
Revenue (Details Textuals)
Revenue (Disaggregation Of Revenue, By Industry) (Details)
Revenue (Disaggregation Of Revenue, By Product Line) (Details)
Revenue (Notes)
Revenue (Tables)
Selected Financial Statement Information
Selected Financial Statement Information (Details Textuals)
Selected Financial Statement Information (Tables)
Selected Financial Statement Information Selected Financial Statement Information, Accumulated Other Comprehensive Income (Loss) (Details)
Selected Financial Statement Information Selected Financial Statement Information, Research And Development Expenses (Details)
Selected Financial Statement Information, Accounts Receivable (Details)
Selected Financial Statement Information, Accrued Expenses And Other Current Liabilities (Details)
Selected Financial Statement Information, Inventories (Details)
Selected Financial Statement Information, Property, Plant And Equipment (Details)
Share-Based Compensation
Share-Based Compensation (Details Textuals)
Share-Based Compensation (Tables)
Share-Based Compensation, Assumptions For Option Grants Fair Value Calculation (Details)
Share-Based Compensation, Information On Options Exercised (Details)
Share-Based Compensation, Options Outstanding And Exercisable (Details)
Share-Based Compensation, Share-Based Activity (Details)
Shareholders' Equity
Shareholders' Equity (Details Textuals)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details Textuals)
Summary Of Significant Accounting Policies (Finite-Lived Intangible Asset Useful Life) (Details)
Summary Of Significant Accounting Policies (Pension Plan Funded Status) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Property, Plant And Equipment Useful Life) (Details)
Summary Of Significant Accounting Policies (Tables)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (Details)
Ticker: HEI
CIK: 46619
Form Type: 10-K Annual Report
Accession Number: 0000046619-22-000066
Submitted to the SEC: Wed Dec 21 2022 4:11:10 PM EST
Accepted by the SEC: Wed Dec 21 2022
Period: Monday, October 31, 2022
Industry: Aircraft Engines And Engine Parts

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