Larry Mendelson | Chairman & CEO |
Eric Mendelson | Co-President & Director |
Victor Mendelson | Co-President & Director |
Carlos Macau | EVP, CFO & Treasurer |
Peter Arment | Baird |
Pete Skibitski | Alembic Global |
Larry Solow | CJS Securities |
Michael Ciarmoli | Truist Securities |
Ken Herbert | RBC Capital Markets |
Sheila Kahyaoglu | Jefferies |
Josh Sullivan | the Benchmark Company |
Jack Ayers | TD Cohen |
Louis Raffetto | Wolfe Research |
Welcome to the HEICO Corporation Third Quarter Fiscal 2023 Financial Results Call. My name is Samia, and I'll be today's operator.
Certain statements in this conference call will constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements as a result of factors including, but not limited to, the severity of magnitude and such as the COVID-19 pandemic or health emergencies; HEICO's liquidity and the amount and timing of cash generation; lower commercial air travel caused by health emergencies and their aftermath, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our cost to complete contracts; supplemental and regulatory demands, export policies and restrictions; reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals and achieve operating synergies from acquired businesses; customer credit risk, interest, foreign currency exchange and income tax rates; economic conditions, including the effects of inflation within and outside of the aviation, defense space, medical, telecommunications and electronics industries, which could negatively impact our cost and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue.