Helios Technologies reports Q3 adjusted EPS 44c, consensus 70c

Reports Q3 revenue $201.4M, consensus $219.31M. “We entered this year working to advance our strategy to solve our customers’ most challenging problems. Our best-in-class manufacturing allows us to provide an integrated operating approach with innovative, high quality and differentiated solutions. When we presented our expectations for 2023, we recognized that global macroeconomic uncertainties posed a headwind. We remain focused on what we can control around product innovation, expanding into new end markets, and our customer-centric ‘in the region for the region’ manufacturing approach. The trailing second quarter was encouraging as it began to demonstrate traction. However, we saw swift shifts in demand from a broad set of customers and markets in the third quarter. The combination of macroeconomic conditions and geopolitical unrest caused push outs on delivery schedules and delays in orders,” said Helios’ President and Chief Executive Officer Josef Matosevic.