HELIOS TECHNOLOGIES, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>HELIOS TECHNOLOGIES, INC. has filed its 2023 Form 10-K detailing its financial performance and business operations.</b>

AI Summary

HELIOS TECHNOLOGIES, INC. (HLIO) filed a Annual Report (10-K) with the SEC on February 27, 2024. HELIOS TECHNOLOGIES, INC. filed its annual report on Form 10-K for the fiscal year ending December 30, 2023. The company's principal business address is 7456 Sixteenth Street East, Sarasota, FL 34243. HELIOS TECHNOLOGIES, INC. was formerly known as SUN HYDRAULICS CORP, with a name change effective April 23, 1997. The filing references various financial instruments and accounts including 'OtherLiabilitiesNoncurrent', 'LiabilitiesCurrent', and 'ForeignCurrencyTransactionGainLossBeforeTax'. Key dates mentioned include October 31, 2024, April 28, 2028, and May 31, 2023.

Why It Matters

For investors and stakeholders tracking HELIOS TECHNOLOGIES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of HELIOS TECHNOLOGIES, INC.'s financial health, operational performance, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's standing. The detailed financial data and disclosures within the 10-K are essential for understanding HELIOS TECHNOLOGIES, INC.'s strategic direction, debt structure, and potential future performance, impacting investment decisions.

Risk Assessment

Risk Level: medium — HELIOS TECHNOLOGIES, INC. shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not immediately signal any extreme positive or negative developments beyond routine disclosures.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to identify any specific trends or potential impacts on HELIOS TECHNOLOGIES, INC.'s future performance.

Key Numbers

• 2023-12-30 — Fiscal Year End (Conformed period of report)
• 2024-02-27 — Filing Date (Filed as of date)
• 1997-04-23 — Date of Name Change (Former company name SUN HYDRAULICS CORP)
• 34243 — ZIP Code (Business address ZIP code)

Key Players & Entities

• HELIOS TECHNOLOGIES, INC. (company) — Filer name
• SUN HYDRAULICS CORP (company) — Former company name
• PNC Bank National Association (company) — Lender party in amended credit agreement
• Citibank (company) — Mentioned in relation to revolving credit facility
• Schultes Precision Manufacturing Inc (company) — Subsidiary or related entity
• FL (location) — State of incorporation and business address
• Sarasota (location) — City of business address
• 9413621200 (phone_number) — Business phone number

FAQ

Key Dates

• 2023-12-30: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, providing the core financial and operational data for HELIOS TECHNOLOGIES, INC.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the 10-K.)

Filing Documents

• hlio-20231230.htm (10-K) — 3330KB
• hlio-ex10_30.htm (EX-10.30) — 63KB
• hlio-ex21.htm (EX-21) — 48KB
• hlio-ex23_1.htm (EX-23.1) — 6KB
• hlio-ex31_1.htm (EX-31.1) — 13KB
• hlio-ex31_2.htm (EX-31.2) — 13KB
• hlio-ex32_1.htm (EX-32.1) — 4KB
• hlio-ex32_2.htm (EX-32.2) — 4KB
• hlio-ex97_1.htm (EX-97.1) — 35KB
• img255274752_0.jpg (GRAPHIC) — 131KB
• img255274752_1.jpg (GRAPHIC) — 342KB
• 0000950170-24-021107.txt (&nbsp;) — 16103KB
• hlio-20231230.xsd (EX-101.SCH) — 2068KB
• hlio-20231230_htm.xml (XML) — 3072KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 16 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 31 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 32 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 33 Item 6. [Reserved] 35 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 49 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 86 Item 9A.

Controls and Procedures

Controls and Procedures 86 Item 9B. Other Information 87 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 PART III Item 10. Directors, Executive Officers and Corporate Governance 88 Item 11.

Executive Compensation

Executive Compensation 88 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 88 Item 13. Certain Relationships and Related Transactions, and Director Independence 88 Item 14. Principal Accountant Fees and Services 88 PART IV Item 15. Exhibit and Financial Statement Schedules 89 Item 16. Form 10-K Summary 94

Signatures

Signatures 95 3 PART I

BUSINESS

ITEM 1. BUSINESS Our Business Overview and Strategy Helios Technologies, Inc. ("Helios," the "Company," "we," "us" or "our"), and its wholly owned subsidiaries, is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, industrial, mobile, energy, recreational vehicles, marine, and health and wellness. We operate under two business segments: Hydraulics and Electronics. The Hydraulics segment designs and manufactures hydraulic motion control and fluid conveyance technology products, including cartridge valves, manifolds, quick release couplings as well as engineers hydraulic solutions and in some cases complete systems. The Electronics segment designs and manufactures customized electronic controls systems, displays, wire harnesses, and software solutions for a variety of end markets. During 2021, we augmented our strategy to transform our business from a holding company to a global integrated operating company. At that same time, we introduced the framework of the Helios Business System, "HBS" (pictured below), which is at the heart of all we do. We are accomplishing this transformation into a global integrated operating company by leveraging sales, marketing, innovation, customer relationships and operational excellence across all our businesses. Our progress to date, through a very complex macro operating environment, is a direct reflection of the commitment of our talented workforce executing our augmented strategy. 4 Our trusted global brands deliver technology solutions that ensure safety, reliability, connectivity and controls. The outer ring of the HBS is our mission - the four key mission pillars we believe will deliver growth, diversification and market leading financial performance as we develop into a more sophisticated, globally oriented, customer-centric and learning-based organization. These are: 1. Protect the business throug

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View this 10-K filing on SEC EDGAR