HEI - HEICO shares fall on mixed Q3 results; co continues to withhold fiscal 2022 guidance

• HEICO ( NYSE: HEI ) stock was down as much as 2.3% to $152.30 in Tuesday mid-day trading, after the aerospace and electronics company reported mixed results for Q3.
• Shares of the company were already on a downward trend, having shed more than 4% on Friday. If losses hold today, it would mean a three-day losing streak for HEI.
• HEI after hours on Monday posted Q3 GAAP EPS of $0.60 which missed estimates by $0.06 . Its revenue of $569.53M, however, beat expectations by $14.1M .
• HEICO has been providing services for over 60 years, with its products found on large commercial aircraft, regional, business and military aircraft, as well as on a large variety of industrial turbines, targeting systems and electro-optical devices.
• HEI said its quarterly revenue was a record for the company, and that improvement in the commercial aerospace market had resulted in eight consecutive quarters of sequential growth in net sales and operating income at its flight support group business.
• The company continued to withhold net sales and earnings guidance for fiscal 2022 due to uncertainty from the pandemic, but said it expects global commercial air travel to continue growing.

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