HEICO Corporation, based in Hollywood, Florida, provides niche products and services to the aviation, defense, space, medical, telecommunications, and electronics industries. The company operates through two primary segments: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG).

In the second quarter of fiscal 2025, HEICO reported net income of $156.8 million, or $1.12 per diluted share, representing a 27% increase compared to $123.1 million, or $0.88 per diluted share, in the same quarter of fiscal 2024. This growth was driven by record operating income of $248.2 million, which saw a 19% increase from $209.2 million year-over-year. Total net sales increased 15% to a record $1,097.8 million from $955.4 million in the same period last year.

The company’s consolidated operating margin improved to 22.6%, up from 21.9% in the prior year quarter. Additionally, cash flow from operating activities surged 45% to $204.7 million, compared to $141.1 million in Q2 of fiscal 2024. Consolidated EBITDA also increased 18% to $297.7 million, previously at $252.4 million.

The Flight Support Group achieved record net sales of $767.1 million, up 19% from $647.2 million in the second quarter of fiscal 2024. This segment’s operating income increased 24% to $185 million, compared to $148.9 million the year prior. The FSG benefited from strong organic growth of 14% across all product lines and the contributions from acquisitions made in fiscal 2024 and 2025.

The Electronic Technologies Group’s net sales reached $342.2 million, marking a 7% increase from $319.3 million in the prior year. The increase was buoyed by 4% organic growth. However, the ETG reported a decline in operating income, which increased 3% to $77.9 million compared to $75.3 million in Q2 of fiscal 2024.

HEICO’s net debt-to-EBITDA ratio improved to 1.86x as of April 30, 2025, down from 2.06x as of October 31, 2024. Total debt was reported at $2.28 billion, while cash and cash equivalents stood at $242.3 million. The company successfully completed its fourth acquisition of fiscal 2025 during the second quarter, acquiring Rosen Aviation LLC.

Guidance for fiscal 2025 remains optimistic, with expectations of continued net sales growth across both segments driven primarily by strong organic demand for most products. The company anticipates sustained momentum due to both organic growth strategies and the integration of recent acquisitions.