Loading...
•
Mar 30, 2024
Helios Q1 2024 Earnings Report
Helios Technologies reported strong sequential growth for a solid start to the year.
Key Takeaways
Helios Technologies reported first quarter 2024 financial results, delivering net sales of $212.0 million, up 10% over 4Q23. Diluted EPS was $0.28 and Diluted Non-GAAP EPS was $0.53, up 40% over 4Q23. The company generated cash from operations of $17.8 million, up 45% over the year-ago level.
Net sales of $212.0 million up 10% over 4Q23 with Hydraulics up 7% and Electronics up 17% sequentially; Notably Electronics up 6% over the year-ago period
Demonstrated sequential margin improvement over 4Q23 across both gross (+310 bps) and operating (+340 bps) margins despite some unfavorable mix
Achieved diluted EPS of $0.28 in 1Q24 and Diluted Non-GAAP EPS of $0.53, up 40% over 4Q23
Generated cash from operations of $17.8 million in 1Q24 up 45% over the year-ago level showing disciplined working capital management and strong cash conversion
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company reaffirms its full year 2024 outlook, expecting to execute a return to growth while leveraging methodical investments combined with disciplined cost management and operational efficiencies to elevate profitability.
Positive Outlook
- Execute on profitable sales growth plan by realizing operating leverage inherent in our business, while fully instilling investment and cost discipline
- Shorten our cash conversion cycle through sustainable working capital improvement initiatives
- Reduce debt utilizing the free cash flow conversion proceeds
- Achieve total net sales of $840 - $860 million
- Achieve net income of $50 - $63 million
Challenges Ahead
- Assumes constant currency, using quarter end rates
- Markets served are not further impacted by the macroeconomic or the geopolitical environment
- Interest expense of $34 - $35 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...