Management remarks
Call period: 2026 Q3 · 2026-08-26
Guidance: Victor Mendelson: For the remainder of fiscal '26, we expect increased net sales at both the Flight Support Group and Electronic Technologies Group to continue to be supported by underlying demand for our products and contributions from recent acquisitions.Demand and orders: Eric Mendelson: These increases principally reflect strong 18% organic growth driven by an improved demand for most of the Electronic Technologies Group's products as well as contributions from our fiscal '26 and '25 acquisitions.Margins: Victor Mendelson: Flight Support Group's operating margin improved to 25.9% in the third quarter of fiscal '26, up from 24.7% in the third quarter of fiscal '25, and that operating margin increase arose chiefly from the previously mentioned improved gross profit margin.Analyst Q&A
Analyst John Godyn asked: I was just hoping we could spend an extra minute on the outlook for HEICO's exposure to other fast-growing themes that are out there that are not aerospace aftermarket, things like missiles, space, IGT, the last couple of quarters is something that came up around the edges, maybe drone components or anything else you'd flag? Management Victor Mendelson answered: And in some instances, we feel certain that it's Golden Dome related. So if you look at HEICO, a final comment, we don't look for the single magic silver bullet. It's mixing metaphor here, singles to doubles, and it's this very steady growth rate. We're looking for that 15% to 20% bottom line growth each year. And we're not looking -- frankly, it's a controlled growth strategy. We're not looking to grow 50% 1 year and then only 5% the next and have a volatile situation.管理层陈述
电话会期间：2026 Q3 · 2026-08-26
指引：维克多·门德尔松称，在2026财年剩余时段内，我们预计飞行支持集团与电子技术集团的净销售额将增长，这将持续得到我们产品的潜在需求以及近期收购带来的贡献的支撑。需求与订单：埃里克·门德尔松称，这些增长主要反映了强劲的18%有机增长，该增长由电子技术集团多数产品的需求改善推动，同时得益于我们2026财年和2025财年收购的贡献。利润率：维克多·门德尔松称，2026财年第三季度，飞行支持集团的营业利润率升至25.9%，高于2025财年第三季度的24.7%，该营业利润率增长主要来自此前提及的毛利率改善。分析师问答
分析师约翰·戈丁提问：我想多花点时间聊聊HEICO在航空航天售后市场之外的其他快速增长领域的敞口，比如导弹、航天、IGT，过去几个季度我们零星听到过相关话题，比如无人机组件，你们还有其他可以提及的领域吗？管理层维克多·门德尔松回应：部分业务确实与“金穹顶”项目相关。我们不会寻找单一的神奇解决方案，而是积少成多，追求每年15%至20%的底线增长，采取可控的增长策略，不会追求某一年增长50%、次年仅增长5%从而导致业绩波动。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
