Helios Technologies reported a strong first quarter with revenue growth of 58%, driven by high demand in agriculture, marine, and health & wellness markets. Net income reached $22.6 million, and diluted EPS was $0.70. The company is raising its revenue outlook for 2021, expecting strong margins despite supply chain challenges.
End markets outperformed expectations with record demand in agriculture, marine, and health & wellness.
The diversification strategy is yielding positive results with new customer acquisitions in emerging markets.
Capacity expansion and productivity improvements have enabled the company to meet demand and achieve record margins.
The company is quickly reducing its balance sheet leverage, decreasing the net debt to adjusted EBITDA ratio to 2.65x.
Helios Technologies raised its revenue outlook for 2021, driven by strong end market demand in the first quarter and expected to continue throughout the year. The company anticipates leveraging its fixed cost base and maintaining strong margins despite headwinds on material costs and logistics.
Visualization of income flow from segment revenue to net income
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