HEI - Why Heico Shares Are Falling Today
Aerospace component manufacturer Heico (NYSE: HEI) (NYSE: HEI.A) reported a mixed quarter, beating on earnings but falling a little flat on revenue. On a day where markets are under pressure and geopolitical concerns could crimp commercial aviation, the results were enough to cause the shares to fall as much as 5%.
Heico is a holding company for a number of businesses that make components for aerospace, industrial, and medical products. On Wednesday night, the company reported that fiscal first-quarter net income rose 23% year over year to $86.9 million, or $0.63 per share, on revenue of $490.34 million.
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Why Heico Shares Are Falling Today