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 (NYSE: HLIO), a global leader in motion control and electronic controls technology, has announced its schedule for the release of third quarter 2024 financial results. The company will disclose its results after market close on Tuesday, November 5, 2024. The following day, Wednesday, November 6, 2024, at 9:00 a.m. Eastern Time, Sean Bagan, Interim President, CEO, and CFO, will host a conference call and webcast to discuss the company's financial and operating results, corporate strategies, and outlook.
Investors can access the call via phone at (201) 689-8573 or through an internet webcast on the company's website. A telephonic replay will be available until November 20, 2024, by dialing (412) 317-6671 with conference ID 13748511. The webcast replay and transcript will be accessible in the investor relations section of Helios Technologies' website.
Helios Technologies (NYSE: HLIO) has provided an update on its recovery efforts following Hurricane Milton's direct hit on Sarasota. Two of the company's three Sun Hydraulics manufacturing facilities in Sarasota have reopened just six days after the Category 3 hurricane made landfall. The third facility, which sustained more extensive damage, remains closed as the team works on recovery efforts.
Sean Bagan, Interim President, CEO, and CFO, expressed gratitude for the safety of employees and praised their efforts in assessing and remediating damages. Rick Martich, President of Hydraulics, Americas, highlighted the team's tireless work and support from global Helios businesses. The company is also evaluating potential impacts on regional suppliers, freight carriers, and infrastructure.
Helios plans to provide estimates of Hurricane Milton's effects on its fourth quarter financial projections when it reports its upcoming third quarter 2024 financial results.
Helios Technologies (NYSE: HLIO) has provided a preliminary update on its status following Hurricane Milton. The company's worldwide corporate headquarters and Sun Hydraulics, a significant part of its Hydraulics segment, are located in Sarasota, which was directly hit by the hurricane. Helios is currently assessing the damage and disruption to its Florida facilities, particularly the impact on manufacturing operations.
The company has engaged with insurance partners to minimize financial impact from physical losses. Helios aims to resume operations at affected locations as quickly as possible. Further updates and estimates of the hurricane's effects on financial results and operations will be provided once the assessment is complete and more information becomes available.
Helios Technologies (NYSE: HLIO), a global leader in motion control and electronic controls technology, has announced its 111th consecutive quarterly cash dividend. The Board of Directors declared a dividend of $0.09 per common share, payable on October 21, 2024 to stockholders of record as of October 4, 2024. This extends Helios' impressive streak of over 27 years of consecutive quarterly dividends to stockholders. The company currently has approximately 33.2 million shares of common stock outstanding.
Helios Technologies (NYSE: HLIO) has announced that its operating company, i3 Product Development (i3PD), has been named an Authorized Partner of STMicroelectronics (ST). This partnership aims to accelerate innovation and reduce development time for customers. i3PD will leverage ST's advanced semiconductor technology in their engineering and design processes, utilizing their state-of-the-art facilities.
Another Helios operating company, Enovation Controls, already uses ST's semiconductor chips in its OpenView S70 and S50 displays. Both i3PD and Enovation Controls will showcase their latest technologies at the upcoming Equip Expo in Louisville starting October 15th.
Helios Technologies' operating company Enovation Controls has been recognized as one of the UK's Best Workplaces for Women™ for the third consecutive year by Great Place to Work®. Ranking #18 out of over 300 companies, this achievement highlights Enovation Controls' commitment to fostering an inclusive workplace where women can thrive.
The recognition underscores Helios' dedication to diversity and inclusion across its global operations. Sean Bagan, Interim President, CEO, and CFO of Helios, emphasized the importance of creating a workplace where everyone feels valued and empowered. The award reflects the company's ongoing efforts in creating equitable opportunities, developing talent, and promoting a culture of respect.
This achievement aligns with Helios' broader commitment to cultivating a diverse workforce across all its operating companies, demonstrating leadership in integrity, inclusion, innovation, and accountability.
Helios Technologies (NYSE: HLIO) has introduced the FPJP cartridge valve, a high-capacity electro-proportional flow control valve solution for precise motion control at high flow rates. Launched by Sun Hydraulics, a Helios operating company, the FPJP valve offers:
- Industry-leading flow rate of 114 gpm (431 L/min)
- Maximum operating pressure of 5000 psi (350 bar)
- Floating style construction to minimize internal part binding
- Compatibility with Sun's XMD Series valve driver
The FPJP valve is designed for various applications in agriculture, construction, earth moving, forestry, marine, and material handling. Sun Hydraulics will showcase the FPJP valve at the iVT Expo in Chicago, IL, on August 21-22, 2024.
Helios Technologies' (NYSE: HLIO) operating company, Balboa Water Group, has achieved ISO 9001:2015 certification for its electronics operations in Tijuana, Mexico. This certification covers the manufacturing of printed circuit board assemblies, wire harnesses, panels, and displays for electronic control of hot tubs, swim spas, engines, heaters, sanitizers, and control systems for the health and wellness industry.
The certification underscores Helios' commitment to quality and continuous improvement across its electronics operations. It adds to the company's extensive list of ISO registrations and quality declarations across its global operations, including Sun Hydraulics, Daman Products Company, Schultes Precision Manufacturing, Faster S.r.l, NEM S.r.l., Enovation Controls, and Joyonway.
Sean Bagan, Interim President, CEO, and CFO of Helios, expressed pride in this achievement and reaffirmed the company's dedication to delivering top-quality products and services to customers.
Helios Technologies (NYSE: HLIO) reported Q2 2024 financial results, showing sequential improvements despite market challenges. Key highlights include:
- Net sales of $219.9 million, up 4% from Q1 2024
- Diluted EPS of $0.41 and Non-GAAP EPS of $0.64, up 21% from Q1 2024
- Generated $33.8 million in cash from operations, up 30% year-over-year
- Reduced total debt by $18.6 million, the fourth straight quarter of debt reduction
- Extended debt maturities to 2029 and increased available liquidity
However, the company moderated its 2H24 outlook due to softening end market conditions. Helios now expects full-year 2024 net sales of $825-$840 million, down from the initial $840-$860 million forecast. The company remains focused on operational efficiencies and cost discipline to maintain its adjusted EBITDA margin range of 19.5%-21.0%.
Helios Technologies (NYSE: HLIO) has terminated Josef Matosevic as President, CEO, and Board member without severance for cause due to a violation of company policy. The violation involved a consensual personal relationship with an employee but did not involve financial misconduct. Sean Bagan will continue as Interim President and CEO, while Philippe Lemaitre remains Executive Chairman. The Board has initiated a comprehensive search for a permanent successor, considering both internal and external candidates.
The company emphasizes its commitment to upholding its values and Code of Business Conduct and Ethics. Despite the leadership transition, Helios remains focused on executing its strategy and capitalizing on growth opportunities.