Heico Corp (NYSE: HEI) stock fell over 0.9% on March 26^th, 2021 (as of 11:22 UTC-4 · USD; Source: Google finance) as the company has reported net income in the second quarter of fiscal 2021 of $70.7 million as compared to $75.5 million in the second quarter of fiscal 2020. The Flight Support Group’s net sales had fallen to $230.3 million in the second quarter of fiscal 2021, as compared to $252.0 million in the second quarter of fiscal 2020. The net sales decline in the second quarter of fiscal 2021 was mainly due to lower demand for the majority of the commercial aerospace products and services resulting from the significant decline in global commercial air travel attributable to the Pandemic.

The Electronic Technologies Group’s net sales grew 11% to $243.1 million in the second quarter of fiscal 2021, up from $219.0 million in the second quarter of fiscal 2020. The net sales increase was mainly from the fiscal 2020 and 2021 acquisitions as well as organic growth of 3%. The organic growth is driven by the increased demand for the other electronic and defense products, partially offset by decreased demand for the commercial aerospace products. The company delivered cash flow provided by operating activities of $102.9 million in the second quarter of fiscal 2021, as compared to $124.7 million in the second quarter of fiscal 2020. The total debt to shareholders’ equity ratio increased to 27.1% as of April 30, 2021, as compared to 36.8% as of October 31, 2020. The net debt (total debt less cash and cash equivalents) of $199.0 million as of April 30, 2021 to shareholders’ equity ratio improved to 9.2% as of April 30, 2021, down from 16.6% as of October 31, 2020, which provides the Company with substantial acquisition capital in the balance of the $1.5 billion revolving credit facility and other available capital.

HEI in the second quarter of FY 21 has reported the adjusted earnings per share of 51 cents, beating the analysts’ estimates for the adjusted earnings per share of 49 cents, according to the Zacks Consensus Estimate. The company had reported slight decline in the adjusted revenue to $466.65 million in the second quarter of FY 21, beating the analysts’ estimates for revenue by 1.39%. In the second quarter of fiscal 2021, EBITDA was $120 million, as compared to $130 million in the second quarter of fiscal 2020.