Helios Q3 revenue down 3% to $201.4M; EPS $0.11 vs $0.63; cuts full-year outlook

HELIOS TECHNOLOGIES, INC.

2023-Q3 EPS reported $1.04 revenue$642,200,000

Net sales $201.4M (-3% YoY); gross margin 29.6% vs 33.4% due to volume and product mix.
Operating income $13.8M (-55% YoY); operating margin 6.9% vs 14.8%.
Net income $3.5M (-83%); diluted EPS $0.11; adjusted cash EPS $0.44 vs $0.90.
Adjusted EBITDA $35.6M (-26%); margin 17.7% vs 23.2%.
Company updating 2023 outlook and expects slower start to 2024 due to macro push-outs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

HELIOS TECHNOLOGIES, INC. reported third quarter ended September 30, 2023 results: revenue $201.4 million, net income $3.5 million, EPS $0.11. Guidance lowered.

Period: third quarter ended September 30, 2023
Revenue: $201.4 million
Net income: $3.5 million
EPS: $0.11
Guidance: lowered
Result: reported results

Exact text from the filing

IMMEDIATE RELEASE Helios Technologies Reports Third Quarter 2023 Financial Results; Investing for the Future While Responding to Swiftly Changing Environment • 3Q23 revenue of $201.4 million reflects impact of swift change in demand dynamics as evolving macroeconomic conditions influenced customer behavior with push out of orders and delivery dates • Margins impacted

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Source: SEC EDGAR

accession 0000950170-23-058325

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