Helios Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:30 pm EDT
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Helios Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 201.4 million compared to USD 207.2 million a year ago. Net income was USD 3.5 million compared to USD 20.4 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.63 a year ago.
For the nine months, sales was USD 642.2 million compared to USD 689.4 million a year ago. Net income was USD 34.1 million compared to USD 80.9 million a year ago. Basic earnings per share from continuing operations was USD 1.04 compared to USD 2.49 a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 2.48 a year ago.
Helios Technologies, Inc. provides highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. The Company's segments include Hydraulics and Electronics. The Hydraulics segment designs and manufactures hydraulic motion control and fluid conveyance technology products, including cartridge valves, manifolds, quick release couplings as well as engineers hydraulic solutions and in some cases complete systems. The Hydraulics segment includes products sold under the Sun Hydraulics, Faster, Custom Fluidpower, Taimi, Daman and Schultes brands. The Electronics segment designs and manufactures customized electronic controls systems, displays, wire harnesses, and software solutions for a variety of end markets. The Electronics segment includes products sold under the Enovation Controls, Murphy, Zero Off, Balboa Water Group and Joyonway brands.
HELIOS TECHNOLOGIES, INC. 
