HEICO Corporation Posts $190.2M Net Income as Q1 Revenue Climbs 14% to $1.18B
HEICO Corporation, an aerospace and defense supplier, reported net income of $190.2 million for the quarter ending January 31, 2026, up 13% from $168.0 million a year earlier. Revenue rose 14% to $1.18 billion.
HEICO Corporation, an aerospace and defense supplier, reported net income of $190.2 million for the quarter ending January 31, 2026, up 13% from $168.0 million in the same period a year earlier. Revenue climbed 14% to $1.18 billion from $1.03 billion. Read more earnings reports.
The company generated operating income of $259.9 million for the three months ending January 31, compared to $226.8 million a year earlier, marking a 15% increase. Diluted earnings per share rose to $1.35 from $1.20.
Revenue and Margin Performance
Cost of revenue increased to $723.6 million from $624.6 million, while selling, general and administrative expenses climbed to $195.1 million from $178.9 million. Research and development spending rose to $31.9 million from $27.6 million year-over-year.
The company's operating margin improved, with operating income reaching 22.0% of revenue compared to 22.0% in the prior-year quarter. Income tax expense nearly doubled to $26.7 million from $13.7 million.
Cash Flow and Balance Sheet
Cash from operations totaled $178.6 million for the quarter, down from $203.0 million in the year-earlier period. Cash from investing activities was negative $447.0 million, compared to negative $288.0 million a year ago, reflecting increased acquisition activity.
Cash from financing activities brought in $309.6 million, substantially higher than the $90.7 million generated in the prior-year quarter. Cash and cash equivalents stood at $261.0 million as of January 31, 2026, up from $217.8 million at October 31, 2025.
Assets and Equity
Total assets increased to $9.04 billion as of January 31, 2026, from $8.50 billion at the end of the prior fiscal year. Goodwill rose to $3.91 billion from $3.66 billion, while intangible assets climbed to $1.64 billion from $1.47 billion, indicating continued acquisition activity.
Inventory grew to $1.34 billion from $1.30 billion sequentially. Accounts receivable edged up to $652.0 million from $637.6 million. Stockholders' equity increased to $4.50 billion from $4.31 billion.
Financial Summary
| Metric | Q1 FY2026 | Q1 FY2025 | Change |
|---|---|---|---|
| Total Revenue | $1,178.6M | $1,030.2M | +14% |
| Operating Income | $259.9M | $226.8M | +15% |
| Net Income | $190.2M | $168.0M | +13% |
| Diluted EPS | $1.35 | $1.20 | +13% |
| Cash from Operations | $178.6M | $203.0M | -12% |
Total liabilities stood at $4.00 billion as of January 31, 2026, up from $3.65 billion at October 31, 2025. The company had 84.3 million shares outstanding at quarter end.