Laurans Mendelson | Chairman and Chief Executive Officer |
Eric Mendelson | Co-President and President-HEICO's Flight Support Group |
Victor Mendelson | Co-President-HEICO and President-HEICO's Electronic Technologies Group |
Carlos Macau | Executive Vice President, Chief Financial Officer |
Scott Deuschle | Credit Suisse |
Peter Arnett | Baird |
Larry Solow | CJS Securities |
Pete Osterland | Truist Securities |
Kristine Liwag | Morgan Stanley |
Sheila Kahyaoglu | Jefferies |
Ken Herbert | RBC Capital Markets |
Gautam Khanna | Cowen |
Josh Sullivan | The Benchmark Company |
Louis Raffetto | Wolfe Research |
Ron Epstein | Bank of America |
Welcome to the HEICO Corporation First Quarter Fiscal 2023 Financial Results Call. My name is Samara and I'll be today’s operator.
Certain statements in today’s 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, magnitude and duration of public health threats such as the COVID-19 pandemic or health emergencies; HEICO's liquidity and the amount of 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, governmental 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 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.