Tue, Feb 25, 9:29 PM (60 days ago)
Helios Technologies, Inc. (HLIO) reported 2024 consolidated net sales of $805.9M—a 3.6% decline versus 2023—primarily due to lower demand in agriculture, mobile, industrial, and recreational marine end markets, partially offset by acquisition sales and a 20% increase in the health and wellness market. Gross profit held at 31.3%, while operating income increased modestly to $81.8M (10.2% of sales) aided by lower payroll, benefits, and restructuring costs. Net income rose to $39.0M with diluted EPS of $1.17. The company’s strategic acquisitions in 2022–2023 (Schultes, i3, Daman, Taimi R&D) expanded product capabilities and market reach. Ongoing restructuring in both segments aims to optimize cost structure, and a CEO transition occurred in mid-2024. Key risks include supply chain interruptions, currency fluctuations, and geopolitical uncertainties, while maintaining solid liquidity and access to credit facilities.