Helios Technologies Reports Sequential Sales Growth and Strong Margins for Third Quarter 2020; Generates $37 million in Cash from Operations

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Go back to Helios Technologies Reports Sequential Sales Growth and Strong Margins for Third Quarter 2020; Generates $37 million in Cash from Operations

Helios Technologies (HLIO) Tops Q3 EPS by 12c, Revenues Beat; Offers FY20 Revenue Mid-Point Guidance Above Consensus

November 2, 2020 6:13 AM EST

Helios Technologies (NASDAQ: HLIO) reported Q3 EPS of $0.53, $0.12 better than the analyst estimate of $0.41. Revenue for the quarter came in at $122.6 million versus the consensus estimate of $115.99 million.

Josef Matosevic, the Companys President and Chief Executive Officer, commented, We delivered excellent quarterly results with total revenue exceeding our expectations while expanding gross margins, which resulted in better-than-expected consolidated decremental adjusted operating margin of 29%*. Our businesses demonstrated their ability to quickly adjust to rapidly changing market conditions. Our disciplined execution, continued productivity improvements, and ongoing cost containment are what enabled gross margins to... More