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$345.3M operating cash flow (≈150%)
Operating cash flow and cash conversion significantly outpaced net income
Management highlighted $345 million of cash generated from operations, describing it as almost 150% of net income, and later reiterated strong cash generation dynamics in Q3.
Read the full earnings transcript for HEI-A Q3 2026, or visit the HEICO Corporation company page.
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Cash-flow emphasis and cash margin framing behind margin expansion
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Financial Performance Summary
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For the full year, we still expect that range. We're still in process now of doing budgets and thinking about next year and we'll see how things play out, Larry.
Carlos Macau
CFO, HEICO Corporation
Context
Carlos Macau was responding to questions about whether strong margins could persist as the company wraps fiscal 2026. The analyst asked for Carlos’s thoughts on margins as they look toward year-end and the next couple of years. Carlos noted a full-year expectation of 22% to 24% GAAP margins (roughly 26% to 28% EBITDA margins) and said they are in the budgeting process. He also indicated he does not want to elevate expectations further right away given the quarter-to-quarter context.
Dafinchi