HEI - HEICO Corporation (HEI) Q2 2024 Earnings Call Transcript
2024-05-29 13:34:05 ET
HEICO Corporation (HEI)
Q2 2024 Results Conference Call
May 29, 2024 09:00 AM ET
Company Participants
Laurans Mendelson - Chairman & Chief Executive Officer
Eric Mendelson - Co-President & President of Flight Support Group
Victor Mendelson - Co-President & President of Electronic Technologies Group
Carlos Macau - Executive Vice President & Chief Financial Officer
Conference Call Participants
Robert Spingarn - Melius Research
Sheila Kahyaoglu - Jefferies
Scott Deuschle - Deutsche Bank
Larry Solow - CJS Securities
Peter Arment - Baird
Bert Subin - Stifel
Kenneth Herbert - RBC Capital Markets
Sam Struhsaker - Truist Securities
Louis Raffetto - Wolfe Research
Gautam Khanna - TD Cowen
Louie DiPalma - William Blair
Presentation
Operator
Welcome to the HEICO Corporation Second Quarter 2024 Financial Results Call. My name is Samara, and I will be your operator for today's call.
Certain statements in this conference call will constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include the severity, magnitude and duration of public health threats such as the COVID-19 pandemic.
HEICO's liquidity and the amount and timing of cash duration, lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our cost to complete contracts, governmental and regulatory demands; export policies and restrictions; reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales, our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales.
Our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals and achieve operating synergies from acquired businesses; customer credit risk, interest, foreign currency exchange and income tax rates; and economic conditions, including the effects of inflation within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues.
Parties listening to this call are encouraged to review all of HEICO's filings with the Securities and Exchange Commission including, but not limited to, filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
I now turn the call over to Laurans Mendelson, HEICO's Chairman and Chief Executive Officer.
Laurans Mendelson
Thank you very much, Samara, and good morning to everyone on the call. We thank you for joining us, and we welcome you to this HEICO second quarter fiscal '24 earnings announcement teleconference. I'm Larry Mendelson, Chairman and CEO of HEICO Corporation. And I'm joined here this morning by Eric Mendelson, HEICO's Co-President and the President of HEICO's Flight Support Group; Victor Mendelson, HEICO's Co-President and President of HEICO's Electronic Technologies Group, and Carlos Macau, our Executive Vice President and CFO.
Before reviewing our operating results in detail, I would like to take a moment to thank all of HEICO's talented team members for delivering another excellent quarter. Your focus on customers and operational excellence has provided record quarterly results for our shareholders, and I remain extremely optimistic about HEICO's future. I also want to thank everyone on the call, the HEICO team members and our customers and vendors who themselves or family members have served this great country. Some of whom made the ultimate sacrifice for our freedom. I hope you had these patriots in your port on Memorial Day. HEICO is proud of the role we play in support of the armed forces of the United States and our allies....
HEICO Corporation (HEI) Q2 2024 Earnings Call Transcript