10-Q · May 29, 2026
HEICO Corporation reported strong Q2 FY2026 results with a record net income of $233.8 million, translating to an EPS of $1.66, marking a 49% increase year-over-year. Revenue reached $1.376 billion, exceeding estimates…
Earnings analysis · 10-Q
HEI earnings analysis
Filed August 27, 2026 · Our reading of the company's report
The latest report
HEICO delivered a strong Q3 fiscal 2026, with revenue of $1.41305 billion and diluted EPS of $1.67, up approximately 22.9% and 32.5% year over year and above consensus by 4.9% and 10.6%, respectively. Operating margin…
Read full summary
HEICO delivered a strong Q3 fiscal 2026, with revenue of $1.41305 billion and diluted EPS of $1.67, up approximately 22.9% and 32.5% year over year and above consensus by 4.9% and 10.6%, respectively. Operating margin was 25.1%, although this was modestly below the 25.5% reported for Q2 2026. The extracted filing text does not provide balance-sheet, cash-flow, segment, or quantitative guidance details; the principal newly disclosed concern is financing exposure from the 4.950% 2031 and 5.400% 2036 notes.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.67
- Operating margin
- 25.1%
What stood out
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Revenue and EPS exceeded consensus
Q3 revenue was $1.41305 billion and diluted EPS was $1.67, exceeding consensus estimates of $1.3476 billion and $1.51 by approximately 4.9% and 10.6%, respectively.
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Operating margin remained elevated
Operating margin expanded to 25.1% in Q3 from 23.1% in the prior-year quarter and 25.5% in Q2 2026, indicating strong profitability despite a sequential 0.4 percentage-point decline.
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Controls were assessed effective
The filing states that management concluded disclosure controls and procedures were effective as of the end of the period, and that there were no material changes to internal control over financial reporting during the third quarter ended July 31, 2026.
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Strong year-over-year earnings growth
The filing identifies $1.41305 billion of Q3 revenue and $1.67 of diluted EPS, while the prior-year Q3 comparison was $1.15 billion of revenue and $1.26 of diluted EPS, representing year-over-year growth of approximately 22.9% and 32.5%, respectively.
What to watch
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New long-term debt raises interest burden
HEICO issued 4.950% notes due 2031 and 5.400% notes due 2036 under indentures dated July 16, 2026. These debt instruments increase fixed interest obligations and refinancing exposure versus the prior reporting period.
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Credit-facility terms were amended
The filing references a Fourth Amendment to the revolving credit agreement effective June 11, 2026. Changes to the credit facility may affect borrowing capacity, covenant flexibility, or financing costs, although the extracted text does not quantify those effects.
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Market-risk assessment unchanged
Management reported that there had been no material changes in HEICO's assessment of market-risk sensitivity from the October 31, 2025 Form 10-K. While this is not a new market-risk exposure, it leaves existing sensitivity to market conditions unchanged.
Management's outlook
No quantitative revenue or EPS guidance was provided in the extracted 10-Q text. Management's qualitative outlook, as reported with the Q3 results, calls for increased net sales at both operating groups for the remainder of fiscal 2026.
Earlier filings 4
10-Q · February 27, 2026
HEICO reported Q1 FY2026 revenue of $1,178,582,000 and GAAP diluted EPS of $1.35, both above consensus. Revenue rose 14.4% year-over-year but declined versus the prior quarter; gross margin compressed to 38.6% and…
10-Q · May 29, 2025
HEICO reported quarterly net sales of $1,097,820,000 and diluted EPS of $1.12 for the three months ended April 30, 2025, with operating income of $248,152,000. Gross margin expanded to 39.9% and operating margin to…
10-Q · February 28, 2025
HEICO reported Q1 net sales of $1,030,222,000 and diluted EPS of $1.20, both up materially year-over-year and ahead of consensus. Gross margin expanded to 39.4% and operating margin to 22.0%; operating cash flow was…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.