HEICO Corp Q4 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Kenneth George Herbert - RBC Capital Markets, Research Division - Analyst : Yes. Eric, I wanted to start with you first. I wanted to follow up on the comments and everything we're seeing regarding the faster recovery for domestic travel versus international travel. Is it fair to say that when you look at your airline customers here in the United States or North America and Europe, that their maintenance spending with you for their domestic fleet in 2022, year fiscal '22, can be back to sort of pre-COVID levels? I mean how do we think about the business recovery for you and the timing for predominantly

Question: Kenneth George Herbert - RBC Capital Markets, Research Division - Analyst : Okay. As you look at -- I wanted to ask about your cargo exposure. I mean cargo has clearly been -- air cargo, very strong, obviously, through this downturn. The cargo fleet tends to be older, tends to represent roughly sort of 10% of the total fleet for the larger aircraft. How is your cargo exposure? And can you comment about -- if that's maybe a nice opportunity where you're seeing greater growth? Or how do we think about you relative to the cargo markets?

Question: Kenneth George Herbert - RBC Capital Markets, Research Division - Analyst : We'll definitely pass it on. If I could, just one final question for you, Eric. Obviously, the trend line would imply that you sort of get back to 20% EBIT margins at some point in fiscal '22, just looking at the strong performance of the business. Is there any reason at some point this year, you don't hit that level? Or are there other maybe headwinds we should keep in mind as we think about sort of modeling out segment margins for you?