Heico Corp (NYSE:HEI) stock fell 0.33% (As on May 24, 11:23:22 AM UTC-4, Source: Google Finance) after the company has reported an increase in net income of 20% to $85.0 million in the second quarter of fiscal 2022, up from $70.7 million, in the second quarter of fiscal 2021. Operating income increased 27% to a record $122.8 million in the second quarter of fiscal 2022, up from $96.7 million in the second quarter of fiscal 2021. The Company’s consolidated operating margin improved to 22.8% in the second quarter of fiscal 2022, up from 20.7% in the second quarter of fiscal 2021. EBITDA increased 22% to $146.6 million in the second quarter of fiscal 2022, up from $120.0 million in the second quarter of fiscal 2021. The company’s total debt to shareholders’ equity ratio was 11.0% as of April 30, 2022, as compared to 10.3% as of October 31, 2021. The net debt (total debt less cash and cash equivalents) of $148.6 million as of April 30, 2022 to shareholders’ equity ratio was 6.1% as of April 30, 2022, as compared to 5.6% as of October 31, 2021. The net debt to EBITDA ratio was .28x and .26x as of April 30, 2022 and October 31, 2021, respectively. The company has no significant debt maturities until fiscal 2025.

HEI in the second quarter of FY 22 has reported the adjusted earnings per share of 62 cents, beating the analysts’ estimates for the adjusted earnings per share of 61 cents. The company had reported the adjusted revenue growth of 15 percent to $538.8 million in the second quarter of FY 22, beating the analysts’ estimates for revenue of $530.2 Million, according to Refinitiv Ibes Data (analyst estimates).

Moreover, the Flight Support Group’s net sales increased 33% to $306.3 million in the second quarter of fiscal 2022, up from $230.3 million in the second quarter of fiscal 2021. The net sales increase in the second quarter and first six months of fiscal 2022 reflects strong organic growth of 23% and 26%, respectively, as well as the impact from the profitable fiscal 2021 and 2022 acquisitions. The organic growth mainly reflects increased demand for the majority of the commercial aerospace products and services resulting from continued recovery in global commercial air travel as compared to the second quarter and first six months of fiscal 2021. The Electronic Technologies Group’s net sales were $237.4 million in the second quarter of fiscal 2022, as compared to $243.1 million in the second quarter of fiscal 2021.