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Heico Stock Falls After the Aerospace Supplier’s Earnings Beat Estimates. Here’s Why.

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The company reports fiscal third-quarter sales of about $723 million. Wall Street was looking for about $702 million.

Monday evening, aerospace aftermarket parts leader HEICO reported better-than-expected fiscal third-quarter sales and earnings. Shares are down anyway because investors wanted more.

HEICO stock is down about 5.3% in premarket trading at $159, while S&P 500 and Dow Jones Industrial Average futures are both up about 0.1%. HEICO is also a high-expectations growth stock. Shares trade for about 46 times estimated 2024 earnings. What’s more, HEICO has beaten Wall Street’s bottom-line earnings in eight of the past 10 quarters. Shares dropped the day following three of the quarterly beats.

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