Heico Corp (NYSE:HEI) stock fell 2.52% (As on Dec 16, 12:25:46 AM UTC-4, Source: Google Finance) after the company posted higher than expected results for the third quarter of FY 21. Operating income increased 29% to $115.0 million in the fourth quarter of fiscal 2021, up from $89.1 million in the fourth quarter of fiscal 2020. The Company’s consolidated operating margin increased to 22.6% in the fourth quarter of fiscal 2021, up from 20.9% in the fourth quarter of fiscal 2020. EBITDA increased 24% to $139.5 million in the fourth quarter of fiscal 2021, up from $112.8 million in the fourth quarter of fiscal 2020. EBITDA increased 4% to $487.4 million in the fiscal year ended October 31, 2021, up from $466.6 million in the fiscal year ended October 31, 2020. The total debt to shareholders’ equity ratio improved to 10.3% as of October 31, 2021, as compared to 36.8% as of October 31, 2020. The net debt (total debt less cash and cash equivalents) of $128.2 million as of October 31, 2021 to shareholders’ equity ratio improved to a very low 5.6% as of October 31, 2021, down from 16.6% as of October 31, 2020, which provides the Company with substantial acquisition capital in the balance of our $1.5 billion revolving credit facility and other available capital. The net debt to EBITDA ratio improved to .26x as of October 31, 2021, down from .71x as of October 31, 2020. During fiscal 2021, the company had successfully completed six acquisitions and had no significant debt maturities until fiscal 2024. Cash flow provided by operating activities were of $110.0 million in the fourth quarter of fiscal 2021, as compared to $110.2 million in the fourth quarter of fiscal 2020.

HEI in the third quarter of FY 21 has reported the adjusted earnings per share of 62 cents, beating the analysts’ estimates for the adjusted earnings per share of 59 cents. The company had reported the adjusted revenue growth of 20 percent to $509.4 million in the third quarter of FY 21, beating the analysts’ estimates for revenue of $501 million. The Flight Support Group’s net sales increased 34% to $260.4 million in the fourth quarter of fiscal 2021. The Electronic Technologies Group’s net sales increased 7% to a record $253.0 million in the fourth quarter of fiscal 2021.