Helios Technologies Stock Price, News & Analysis

Helios Technologies (NYSE: HLIO), a global leader in motion control and electronic controls technology, has announced its schedule for releasing second quarter 2024 financial results. The company will release its results after market close on Monday, August 5, 2024. A conference call and webcast will be held the following morning, Tuesday, August 6, 2024, at 9:00 a.m. Eastern Time, hosted by Sean Bagan, Interim President, CEO, and CFO.

The call will be accessible via phone at (201) 689-8573 and through a webcast on the company's website. A replay will be available until August 13, 2024, by dialing (412) 317-6671 with conference ID 13746830. The webcast replay and transcript will be posted in the investor relations section of www.heliostechnologies.com.

Helios Technologies (NYSE: HLIO) has appointed Sean Bagan as Interim President and CEO, in addition to his role as CFO, and Philippe Lemaitre as Interim Executive Chairman, while Josef Matosevic is placed on paid leave pending an investigation into a potential violation of the company’s Code of Business Conduct and Ethics. The leave and appointments are effective July 1, 2024. The alleged misconduct does not impact the company’s strategy or financial reporting. Further announcements will be made as necessary.

Helios Technologies (NYSE: HLIO) has announced an amended and restated credit agreement to extend debt maturities and enhance financial flexibility. The agreement increases the revolving credit facility from $400 million to $500 million and introduces a new $300 million term loan, replacing the previous one. Additionally, the borrowing spreads have been reduced by 25 to 50 basis points, and the LIBOR to SOFR credit adjustment of 10 basis points has been removed. The term loan now matures on June 25, 2029, and the accordion feature is expanded by $100 million to $400 million. These changes aim to optimize Helios' capital structure and support long-term strategic priorities.

Helios Technologies has introduced the SenderCAN® Plus series, an advanced input/output control module designed for rugged applications. Developed by Enovation Controls, a subsidiary of Helios, this next-gen module improves communication, reduces complexity, and lowers costs by eliminating the need for additional controllers. It allows for the integration of sensor inputs for pressure, flow, temperature, and more into an existing J1939 network. The module features dual output capability, a comprehensive J1939 library for fast customization, and a user-friendly configuration tool. Helios emphasizes that SenderCAN® Plus offers unprecedented customization, enhancing reliability and performance in tough environments.

Helios Technologies, a global leader in motion control and electronic controls technology, announced its 110th consecutive quarterly cash dividend. The Board of Directors declared a $0.09 per common share dividend, payable on July 19, 2024, to stockholders of record as of July 5, 2024. Helios has maintained this streak for over 27 years and currently has approximately 33.2 million shares of common stock outstanding.

Helios Technologies (NYSE: HLIO), a global leader in motion control and electronic controls technology, will participate in three major investor conferences. These include the KeyBanc 24th Annual Industrials & Basic Materials Conference on May 29-30, 2024, the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, and the CJS Securities 24th Annual New Ideas Summer Conference on July 10, 2024. Top executives, including CEO Josef Matosevic, CFO Sean Bagan, and VP of Investor Relations Tania Almond, will represent Helios. Activities will include one-on-one meetings and a webcast fireside chat.

Helios Technologies, Inc. reported strong sequential growth in the first quarter of 2024 with net sales of $212.0 million, up 10% over the previous quarter. Electronics segment saw a 17% increase year-over-year while Hydraulics segment grew by 7%. Operating and gross margins improved sequentially, with diluted EPS reaching $0.28 and Diluted Non-GAAP EPS at $0.53, up 40% over 4Q23. Cash from operations increased by 45%, net debt was reduced, and the company affirmed its 2024 outlook for growth and profitability.

Helios Technologies, Inc. announced that its operating company Balboa Water Group has partnered with WaterGuru, a leader in recreational water monitoring technology. This partnership allows Balboa to integrate WaterGuru's technology into its spa products, revolutionizing the spa industry by providing real-time water data, reducing chemical use, increasing spa longevity, and improving overall water quality.