Heico Corporation, an aerospace and defense company, saw its stock plunge 6.88% in after-hours trading on Tuesday following the release of its fiscal fourth-quarter results. The company reported sales of $1.01 billion, missing analysts' estimates of $1.03 billion by 1.79%.
According to the earnings release, Heico's Q4 sales growth of 8.17% year-over-year was weighed down by supply chain challenges and economic headwinds. Despite the sales miss, Heico's earnings per share of $0.99 beat expectations by a narrow margin, reflecting the company's resilience and operational efficiency.
Analysts expressed concerns about the slowing demand and the potential impact on Heico's growth prospects, particularly in the aerospace sector. However, the company's diversified product portfolio and exposure to the defense industry may provide some cushion against market volatility.
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