Heico Corporation (NYSE: HEI.A) reported impressive financial results for the third quarter of fiscal 2025, with record-breaking figures across various metrics. The company's net income surged by 30% to reach a new high of $177.3 million, compared to $136.6 million in the third quarter of fiscal 2024. Similarly, for the first nine months of fiscal 2025, net income soared by 34% to a record $502.1 million, up from $374.4 million in the same period of fiscal 2024.
The firm also achieved record net sales of $1,147.6 million in the third quarter of fiscal 2025, marking a substantial 16% increase from the $992.2 million reported in the third quarter of fiscal 2024. Furthermore, operating income reached a new high of $265.0 million, up 22% from $216.4 million in the prior-year quarter. The consolidated operating margin improved to 23.1% in the third quarter of fiscal 2025, compared to 21.8% in the third quarter of fiscal 2024.
For the first nine months of fiscal 2025, net sales increased by 15% to a record $3,275.6 million, up from $2,844.0 million in the first nine months of fiscal 2024. Operating income also saw a significant surge, climbing 22% to a record $740.0 million, compared to $605.8 million in the first nine months of fiscal 2024. The company's consolidated operating margin improved to 22.6% in the first nine months of fiscal 2025, up from 21.3% in the first nine months of fiscal 2024.
Heico Corporation's Flight Support Group achieved remarkable results, with net sales increasing by 18% to a record $802.7 million in the third quarter of fiscal 2025, up from $681.6 million in the same period of fiscal 2024. Operating income for the Flight Support Group surged by 29% to reach a record $198.3 million in the third quarter of fiscal 2025, compared to $153.6 million in the third quarter of fiscal 2024.
The Electronic Technologies Group also delivered strong performance, achieving record net sales of $355.9 million in the third quarter of fiscal 2025, representing a 10% increase from the $322.1 million reported in the third quarter of fiscal 2024. The group's operating income increased by 7% to $81.0 million in the third quarter of fiscal 2025, compared to $75.8 million in the third quarter of fiscal 2024.
The company's EBITDA increased by 21% to $316.4 million in the third quarter of fiscal 2025, and by 20% to $888.1 million in the first nine months of fiscal 2025. Cash flow provided by operating activities also saw an 8% increase to $231.2 million in the third quarter of fiscal 2025.
Additionally, Heico Corporation's total debt to net income attributable to Heico ratio decreased to 3.81x as of July 31, 2025, down from 4.34x as of October 31, 2024. The net debt to EBITDA ratio also improved, standing at 1.90x as of July 31, 2025, down from 2.06x as of October 31, 2024.
The company's executive team expressed confidence in achieving continued net sales growth across both the Flight Support Group and Electronic Technologies Group segments. They highlighted a disciplined financial strategy focused on maximizing long-term shareholder value through a balanced approach of strategic acquisitions and organic growth initiatives aimed at gaining market share while maintaining a strong financial position and preserving flexibility. Today the company's shares have moved -1.37% to a price of $305.34. For the full picture, make sure to review HEICO CORP's 8-K report.
