Welcome to our dedicated page for Helios Technologies news (Ticker: HLIO), a resource for investors and traders seeking the latest updates and insights on Helios Technologies stock.
Helios Technologies reports developments in highly engineered motion control and electronic control technologies for industrial and specialized end markets. News commonly covers product launches from operating companies such as Faster, Sun Hydraulics and Balboa Water Group, including hydraulic connection systems, cartridge-style flow meters, thermal management components and electronic controls for health and wellness applications.
Company updates also address financial results, cash dividend declarations, investor presentations, strategic initiatives and customer or community partnerships. Helios serves markets including agriculture, construction, data centers, energy, industrial, marine, material handling, recreational vehicles and health and wellness, with products sold to customers in more than 80 countries.
Helios Technologies (Nasdaq: HLIO) has declared a quarterly cash dividend of $0.09 per common share, marking the 97th consecutive quarterly dividend since 1997. The dividend is scheduled for payment on January 20, 2021, to stockholders on record as of January 5, 2021. The company maintains approximately 32.1 million shares of common stock outstanding, showcasing its commitment to returning value to shareholders.
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Helios Technologies (HLIO) has successfully completed the acquisition of Balboa Water Group for $218.5 million, a move aimed at enhancing its Electronics segment. Balboa, a leader in electronic controls for the health and wellness sector, operates globally from its headquarters in Costa Mesa, CA, serving 47 countries. The acquisition is seen as a strategic step in Helios's Vision 2025 strategy, promising attractive financial returns and opportunities for product development. Helios financed the deal through an amended credit agreement and existing cash, maintaining a targeted net debt leverage of less than 2.0x.
Helios Technologies (Nasdaq: HLIO) announced participation in the Baird 2020 Global Industrial Conference on November 12, 2020. CEO Josef Matosevic and CFO Tricia Fulton will present at 12:15 p.m. ET. A live audio webcast will be accessible on the Company's Investor Relations page. Helios focuses on developing and manufacturing hydraulic and electronic control solutions across various markets, operating through two segments: Hydraulics and Electronics.
Helios Technologies (Nasdaq: HLIO) reported Q3 2020 results with revenue of $122.6 million, down 11% from Q3 2019, and net income of $13 million (flat EPS of $0.40). Despite reduced sales, gross margins improved to 38.3%, driven by effective cost management. The company generated $36.7 million in cash during the quarter, allowing for a $50 million reduction in net debt year-to-date. Helios announced plans to acquire Balboa Water Group for $218.5 million, aligning with its growth strategy. The full-year 2020 revenue outlook is set between $485 to $495 million.
Helios Technologies (Nasdaq: HLIO) announced a new $900 million senior secured credit agreement effective October 28, 2020. The agreement includes a $300 million accordion feature and is structured to offer improved borrowing capacity. Helios intends to use these funds to repay existing credit facilities, finance acquisitions like Balboa Water Group, and for working capital. The agreement, facilitated by a syndicate led by PNC Bank, signifies strong confidence from lenders and supports the Company's Vision 2025 strategy, aiming for robust growth and liquidity.
Helios Technologies (Nasdaq: HLIO) has announced the release of its third quarter 2020 financial results scheduled for November 2, 2020, before the market opens. CEO Josef Matosevic and CFO Tricia Fulton will lead a conference call and webcast to discuss the company's financial performance and corporate strategies. Investors can access a replay of the call and additional details on the company’s investor relations website. Helios Technologies specializes in hydraulic and electronic control solutions across various global markets.
Helios Technologies (Nasdaq: HLIO) has agreed to acquire Balboa Water Group for $218.5 million. This move aims to enhance Helios's market position in electronic controls, particularly in the health and wellness sector. Balboa's patented technology is expected to foster innovation and open new markets, complementing Helios's existing capabilities. The acquisition is predicted to be financially beneficial, contributing positively to Adjusted EPS from day one. Expected completion is in Q4 2020, pending regulatory approvals.