Helios Q3 net sales $194.5M; adj EPS $0.59; lowers 2024 outlook on storms

HELIOS TECHNOLOGIES, INC.

2024-Q3 EPS reported $1.03 revenue$626,400,000

Net sales $194.5M (-3% YoY); gross margin improved 150 bps to 31.1%.
Diluted GAAP EPS $0.34, non-GAAP EPS $0.59; operating cash flow $34.8M (+195%).
Reduced debt $19.3M, fifth consecutive quarter; net debt leverage ratio improved to 2.8x.
Lost 18 production shifts from hurricanes; updating 2024 outlook for weaker market and storm impacts.
Adjusted EBITDA margin 20.9% (+320 bps); operating margin 11.4%.

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