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Sep 28, 2024
Helios Q3 2024 Earnings Report
Helios Technologies reported solid results, delivered margin expansion, and reduced debt for the fifth consecutive quarter.
Key Takeaways
Helios Technologies reported Q3 2024 financial results, demonstrating operational efficiency and strong cash management. The company achieved diluted EPS of $0.34 and diluted Non-GAAP EPS of $0.59, up 209% and 34% respectively year-over-year. Net sales were $194.5 million, and the company generated $34.8 million in cash from operations, a 195% increase over the prior-year period.
Generated $34.8 million in cash from operations, up 195% over prior-year period, reflecting disciplined working capital initiatives.
Reduced $19.3 million in total debt, the fifth consecutive quarter of debt reduction; Improved net debt leverage ratio again sequentially down to 2.8x from 3.0x ending 2Q24.
Delivered net sales of $194.5 million in the quarter, within expected guidance range.
Expanded gross margin 150 bps with strong operating margin improvement as expected from improved efficiencies and cost adjustments, despite lower net sales.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Helios Technologies updated its full-year 2024 outlook to reflect weaker end market conditions and hurricane impacts. The company remains focused on working capital management, operational efficiencies, cost discipline, and reducing debt.
Positive Outlook
- Diversified customer base
- Diversified end markets
- Steady adjusted EBITDA margin
- Operational efficiencies
- Disciplined cost control
Challenges Ahead
- Weaker end market conditions
- Growing distributor inventory levels
- Weakening end markets
- 18 lost manufacturing shifts from three hurricanes
- Lower full year sales volumes compared with last year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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