Helios Technologies Files Q3 2024 10-Q

TL;DR

HELIOS Q3 10-Q FILED: CHECK FINANCIALS & OPERATIONS

AI Summary

Helios Technologies, Inc. filed its 10-Q for the period ending September 28, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details are disclosed within the filing, which is a standard quarterly report.

Why It Matters

This filing provides investors with a detailed look at Helios Technologies' financial health and operational performance for the third quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and operational updates that could significantly impact the company's stock price.

Key Numbers

• N/A — Revenue (Specific revenue figures are not directly extractable from the provided header information.)
• N/A — Net Income (Specific net income figures are not directly extractable from the provided header information.)
• N/A — Earnings Per Share (Specific EPS figures are not directly extractable from the provided header information.)

Key Players & Entities

• HELIOS TECHNOLOGIES, INC. (company) — Filer of the 10-Q
• 20240928 (date) — End of the reporting period
• 20241106 (date) — Filing date
• SUN HYDRAULICS CORP (company) — Former company name

FAQ

Filing Documents

• hlio-20240928.htm (10-Q) — 2513KB
• hlio-ex10_1.htm (EX-10.1) — 277KB
• hlio-ex31_1.htm (EX-31.1) — 14KB
• hlio-ex32_1.htm (EX-32.1) — 7KB
• 0000950170-24-122433.txt ( ) — 10803KB
• hlio-20240928.xsd (EX-101.SCH) — 1401KB
• hlio-20240928_htm.xml (XML) — 2078KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets as of September 28, 2024 (unaudited) and December 30, 2023 3 Consolidated Statements of Operations (unaudited) for the Three Months Ended September 28, 2024 and September 30, 2023 4 Consolidated Statements of Operations (unaudited) for the Nine Months Ended September 28, 2024 and September 30, 2023 5 Consolidated Statements of Comprehensive Income (unaudited) for the Three and Nine Months Ended September 28, 2024 and September 30, 2023 6 Consolidated Statements of Shareholders' Equity (unaudited) for the Three Months Ended September 28, 2024 and September 30, 2023 7 Consolidated Statements of Shareholders' Equity (unaudited) for the Nine Months Ended September 28, 2024 and September 30, 2023 8 Consolidated Statements of Cash Flows (unaudited) for the Nine Months Ended September 28, 2024 and September 30, 2023 9 Condensed Notes to the Consolidated, Unaudited Financial Statements 10 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38 2

: FINANCI AL INFORMATION

PART I: FINANCI AL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS. Helios Technologies, Inc. Consolidated B alance Sheets (in millions, except per share data) September 28, 2024 December 30, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 46.7 $ 32.4 Accounts receivable, net of allowance for credit losses of $ 2.5 and $ 2.1 120.8 114.8 Inventories, net 199.2 215.1 Income taxes receivable 10.9 11.3 Other current assets 28.3 23.1 Total current assets 405.9 396.7 Property, plant and equipment, net 223.7 227.9 Deferred income taxes 1.8 1.7 Goodwill 517.0 514.0 Other intangible assets, net 404.5 426.4 Other assets 18.8 23.7 Total assets $ 1,571.7 $ 1,590.4 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 56.9 $ 70.3 Accrued compensation and benefits 23.4 19.4 Other accrued expenses and current liabilities 28.5 27.0 Current portion of long-term non-revolving debt, net 17.6 23.2 Dividends payable 3.0 3.0 Income taxes payable 4.6 2.0 Total current liabilities 134.0 144.9 Revolving lines of credit 174.5 199.8 Long-term non-revolving debt, net 287.9 298.3 Deferred income taxes 56.7 57.1 Other noncurrent liabilities 33.1 35.7 Total liabilities 686.2 735.8 Commitments and contingencies Shareholders' equity: Preferred stock, par value $ 0.001 , 2.0 shares authorized, no shares issued or outstanding — — Common stock, par value $ 0.001 , 100.0 shares authorized, 33.2 and 33.1 shares issued and outstanding — — Capital in excess of par value 436.0 434.4 Retained earnings 500.8 475.6 Accumulated other comprehensive loss ( 51.3 ) ( 55.4 ) Total shareholders' equity 885.5 854.6 Total liabilities and shareholders' equity $ 1,571.7 $ 1,590.4 The accompanying Condensed Notes to the Consolidated, Unaudited Financial Statements are an integral part of

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View this 10-Q filing on SEC EDGAR