Shares of Heico (HEI) tumbled Wednesday, a day after the aircraft parts and electronic equipment provider backed by billionaire investor 澳洲幸运5官方开奖结果体彩网:Warren Buffett reported🎃 weake♋r-than-expected fourth-quarter sales as demand for defense products slid.

The company reported revenue rose 8% to a record $1.01 billion, but analysts surveyed by Visible Alpha were looking for $1.04 billion. 澳洲幸运5官方开奖结果体彩网:Net income of $139.7 million and 澳洲幸运5官方开奖结果体彩网:operating income of $218.6 million were also all-time highs. 澳洲幸运5官方开奖结果体彩网:Earnings per share (EPS) came in at $0.99, ahead of estimates.   

Sales fell 2% to $336.2 million at the Electronic Technologies Group. Unit president Victor Mendelson blamed the drop on "lower defense products net sales, which are often lumpy, and slightly lower net sales of our other electronics products."

The Flight Support Group posted a revenue jump of 15% to $691.8 million on higher sales of the firm's aftermarket replacement parts product line, plus contributions from acquisitions it completed in fiscal 2023 and 2024.

In the third quarter, Heico also 澳洲幸运5官方开奖结果体彩网:registered ꧒a big jump in Flight Support Group sales, while Electronic Technol🌄ogies Group sales declined.

Buffett's Berkshire Hathaway Had More Than $200M Heico Stake in Q3

A security filing showed Buffett's Berkshire Hathaway (BRK.A) purchased 1.04 million shares of Heico in the second quarter, valued at the time at $185.4 million. Heico was the only existing position Buffett 澳洲幸运5官方开奖结果体彩网:added to during the third quarter, bringing his stake to about 1.05 million shares 🃏worth over 𝓀$200 million.

Despite falling 8% Wednesday morning, Heico shares are up about 33% year-to-date.