Heroux Devtek reports $4.6M Q2 profit, sales up nearly seven per cent from year ago
November 10, 2023 By The Canadian Press
MONTREAL — Aircraft parts maker Heroux-Devtek Inc. says it earned $4.6 million in its latest quarter, down from $4.8 million in the same quarter last year, as its revenue rose nearly seven per cent.
The Quebec-based company says the profit amounted to 14 cents per share for the quarter ended Sept. 30, compared with 14 cents per share a year earlier.
Sales for what was the Heroux-Devtek’s second quarter totalled $141.5 million, up from $132.7 million in the same quarter last year.
The company says civilian sales rose 29.8 per cent to $53.6 million in the quarter, boosted by increased deliveries for the Boeing 777 and Embraer Praetor programs, while defence sales fell 3.8 per cent to $87.9 million due to delayed deliveries for the Boeing F-18 program.
On an adjusted basis, it says it earned 14 cents per share in its latest quarter compared with an adjusted profit of 10 cents per share a year earlier.
Heroux-Devtek specializes in the design, development, manufacture, repair and overhaul of aircraft landing gear.