Helios Technologies Inc (HLIO)

Helios Technologies Reports First Quarter 2026 Results that Exceeded Outlook with Sales Growth of 17% & Accelerated Earnings Growth Over the Prior YearMay 11, 2026 4:15 PM
Business Wire Grew 1Q26 sales to $228 million, up 23% on a pro forma basis for the divestiture of Custom Fluidpower ("CFP") and foreign exchange (FX) impact; Electronics +29% and Hydraulics +19% pro forma and FX Expanded 1Q26 gross margin to 32.8% or 220 bps over prior year period driven by volume, segment mix, and cost efficiencies from in region production optimization Delivered 1Q26 diluted EPS of $0.59 up 168% and adjusted diluted EPS of $0.80, up 82% over prior year period Generated a first quarter record of $24 million in cash from operations and $17 million free cash flow Reduced net-debt-to-adjusted EBITDA leverage ratio to 1.6x, lowest since 1Q18, down from 2.7x in the prior-year period; Net debt of $284 million, lowest since 3Q20 Enhanced return to shareholders with 33% increase in 1Q26 dividend; Reached over 29 years in a row of consistent cash dividend payments; Repurchased $4.6 million of Company's common stock in 1Q26 Raising the 2026 outlook for sales and EPS; Initiating strong 2Q26 outlook with continued year-over-year improvements expected Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology, today reported financial results for the first quarter ended April 4, 2026. “We started 2026 with another strong quarter, extending the performance we built last year and reflecting the strength of our global team across all regions, along with disciplined execution in both business segments. I want to thank our colleagues around the world for delivering an outstanding start to the year. Notably, the Company delivered one of the highest sales quarters in its 56-year history, while Enovation Controls achieved a record quarter. These results reflect our accelerated pace of innovation and the go-to-market initiatives we have been advancing over the past year. Importantly, this performance was delivered against a backdrop of continued geopolitical volatility and limited recovery across our end markets,” said Sean Bagan, President & Chief Executive Officer of Helios. “As we look ahead, Helios is well positioned to build on this strong start to the year and advance The CORE Strategy and 2030 financial targets. Our focus remains on executing against our key priorities—converting our growing sales funnel into new business wins, institutionalizing innovation, and driving operational excellence across our global footprint. At the same time, we will maintain a strong value-creation mindset through thoughtful capital allocation. Supported by our customer-centric approach and expanding pipeline of innovative products, these actions position us to execute very well across a range of macro environments, as exemplified by our first quarter results,” he concluded. Hydraulics Segment Summary   (Refer to sales by geographic region and segment data in accompanying tables)   Hydraulics For The Three Months Ended   ($ in millions)
(Unaudited) April 04,
2026     March 29,
2025     Change     % Change   Net sales                       Americas $ 56.7     $ 49.9     $ 6.8       14 % EMEA   49.2       37.9       11.3       30 % APAC   33.3       38.6       (5.3 )     (14 %) Total segment sales $ 139.2     $ 126.4     $ 12.8       10 % Gross profit $ 44.3     $ 37.4     $ 6.9       18 % Gross margin   31.8 %     29.6 %     220   bps     SEA expenses $ 20.9     $ 20.0     $ 0.9       4 % Operating income $ 23.4     $ 17.4     $ 6.0       34 % Operating margin   16.8 %     13.8 %     300   bps       General note: items may not sum or recalculate due to rounding Electronics Segment Summary   (Refer to sales by geographic region and segment data in accompanying tables)   Electronics For The Three Months Ended   ($ in millions)
(Unaudited) April 04,
2026     March 29,
2025     Change     % Change   Net sales                       Americas $ 72.0     $ 56.7     $ 15.3       27 % EMEA   8.6       6.2       2.4       39 % APAC   8.6       6.2       2.4       39 % Total segment sales $ 89.2     $ 69.1     $ 20.1       29 % Gross profit $ 30.6     $ 22.5     $ 8.1       36 % Gross margin   34.3 %     32.6 %     170   bps     SEA expenses $ 16.4     $ 14.5     $ 1.9       13 % Operating income $ 14.2     $ 8.0     $ 6.2       78 % Operating margin   15.9 %     11.6 %     430   bps       General note: items may not sum or recalculate due to rounding First Quarter 2026 Consolidated Results     For The Three Months Ended   ($ in millions, except per share data)
(Unaudited) April 04,
2026     March 29,
2025     Change     % Change   Net sales $ 228.4     $ 195.5     $ 32.9       17 % Gross profit $ 74.9     $ 59.9     $ 15.0       25 % Gross margin   32.8 %     30.6 %     220   bps     Operating income $ 29.9     $ 17.0     $ 12.9       76 % Operating margin   13.1 %     8.7 %     440   bps     Non-GAAP adjusted operating margin*   16.7 %     13.4 %     330   bps     Net income $ 19.7     $ 7.3     $ 12.4       170 % Diluted EPS $ 0.59     $ 0.22     $ 0.37       168 % Non-GAAP net income* $ 26.6     $ 14.8     $ 11.8       80 % Diluted non-GAAP EPS* $ 0.80     $ 0.44     $ 0.36       82 % Adjusted EBITDA* $ 46.5     $ 33.8     $ 12.7       38 % Adjusted EBITDA margin*   20.4 %     17.3 %     310   bps       General note: items may not sum or recalculate due to rounding * Adjusted numbers are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. Raising Full Year 2026 and Establishing Second Quarter 2026 Outlook1 Jeremy Evans, Executive Vice President, Chief Financial Officer, commented, “We have started the year with solid execution in the first quarter against our 2026 financial priorities. We grew sales 23% on a pro forma basis, expanded margins, and realized significant earnings per share accretion compared to the prior year. We continue returning capital to shareholders, highlighted by a 33% increase in our dividend and additional share repurchases. Due to our strong first quarter results, combined with improved visibility into the second quarter, we are raising the full year outlook for sales and earnings per share, reflecting expected year-over-year sales growth even at the bottom end of the range. This will be impressive performance considering the divestiture of CFP last year. We remain focused on operational execution and investing in high-return opportunities, positioning Helios for continued earnings growth and long-term value creation." The following provides the Company’s expectations for 2026 as of May 11, 2026. This assumes constant currency, based on ending first quarter 2026 foreign exchange rates.   Prior FY26 Outlook New FY26 Outlook 2Q26 Outlook Sales $820 to $860 million $840 to $870 million $227 to $232 million Adjusted EBITDA margin 19.5% to 21.0% 19.5% to 21.0% 20.0% to 21.0% Adjusted Diluted EPS $2.60 to $2.90 $2.75 to $3.00 $0.78 to $0.83   1 Reference "First Quarter 2026 Earnings Presentation" slides for details and assumptions. Forward-looking adjusted EBITDA margin and adjusted diluted EPS represent Non-GAAP financial measures. The Company has presented the comparable GAAP figures in the table above. See comments on reconciliation of forward-looking non-GAAP financial measures in the Forward-Looking Information included in this release describing the safe harbor provided within the meaning of Section 21E of the Securities Exchange Act of 1934. Webcast The Company will host a conference call and webcast tomorrow, Tuesday, May 12, 2026, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its outlook. A question-and-answer session will follow. The conference call can be accessed by calling (201) 689-8573. The audio webcast will be available at www.heliostechnologies.com. A telephonic replay will be available from approximately 1:00 p.m. ET on the day of the call through Tuesday, May 26, 2026. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13759582. The webcast replay will be available in the investor relations section of the Company’s website at www.heliostechnologies.com. About Helios Technologies Helios Technologies is a global leader in highly engineered motion control and electronic controls technology, providing premium products that ensure safety, reliability, and seamless connectivity to diverse end markets including agriculture, construction, data centers, energy, health and wellness, industrial, marine, material handling, and recreational vehicles. Helios sells its products to customers in over 80 countries around the world. Its strategy is to be a diversified, customer-centric global enterprise distinguished by innovation, operational speed, and a high-performance culture. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn. FORWARD-LOOKING INFORMATION This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the effectiveness of creating the Centers of Excellence; (iii) its financial plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the Company’s ability to declare and pay dividends; (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of the business; and (viii) the Company's ability to mitigate the impacts of changes in trade policy on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, including the interest rate environment and the continued availability of capital on terms acceptable to us, or at all (or hyperinflation); (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could affect the Company’s revenue and/or cost basis, such as increased competition, lack of qualified engineering, marketing, management or other personnel and increased labor and raw materials costs; (vi) risks related to health epidemics, pandemics and similar outbreaks, which may have material adverse effects on our business, financial position, results of operations and/or cash flows; (vii) risks related to our international operations, including the potential impact from the ongoing geopolitical conflicts in Ukraine and the Middle East; (viii) risks related to our recent management transitions; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders’, including regulators’, views regarding our environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended January 3, 2026, filed with the Securities and Exchange Commission (SEC) on March 3, 2026, as well as any subsequent filings with the SEC. Helios has presented Non-GAAP measures including adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted diluted earnings per share, adjusted free cash flow, adjusted free cash flow conversion, sales in constant currency, and pro-forma sales. Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. The determination of the amounts that are excluded from these Non-GAAP measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. This news release also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted diluted earnings per share. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2026 financial results. These Non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material. Financial Tables Follow: HELIOS TECHNOLOGIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) (Unaudited)     For The Three Months Ended     April 04,
2026     March 29,
2025     % Change   Net sales $ 228.4     $ 195.5       17 % Cost of sales   153.5       135.6       13 % Gross profit   74.9       59.9       25 % Gross margin   32.8 %     30.6 %                         Selling, engineering and administrative expense   37.4       34.6       8 % Amortization of intangible assets   7.6       8.3       (8 )% Operating income   29.9       17.0       76 % Operating margin   13.1 %     8.7 %                         Interest expense, net   5.1       7.4       (31 )% Foreign currency transaction loss, net   (0.6 )     0.1       (700 )% Other non-operating (income) expense, net   (0.2 )     -       - % Income before income taxes   25.6       9.5       169 % Income tax provision   5.9       2.2       168 % Net income $ 19.7     $ 7.3       170 %                   Net income per share:                 Basic $ 0.60     $ 0.22       173 % Diluted $ 0.59     $ 0.22       168 %                   Weighted average shares outstanding:                 Basic   33.1       33.3         Diluted   33.3       33.4                           Dividends declared per share $ 0.12     $ 0.09         HELIOS TECHNOLOGIES CONSOLIDATED BALANCE SHEETS (In millions, except per share data)     April 04,
2026     January 03,
2026     (Unaudited)         Assets           Current assets:           Cash and cash equivalents $ 64.2     $ 73.0   Accounts receivable, net of allowance for credit losses of $1.8 and $1.4   137.5       116.0   Inventories, net   190.9       188.6   Income taxes receivable   9.4       15.4   Other current assets   24.9       21.9   Total current assets   426.9       414.9   Property, plant and equipment, net   206.6       206.6   Deferred income taxes   1.9       1.9   Goodwill   493.4       498.1   Other intangible assets, net   359.2       369.9   Other assets   23.7       23.1   Total assets $ 1,511.7     $ 1,514.5   Liabilities and shareholders’ equity           Current liabilities:           Accounts payable $ 86.9     $ 75.6   Accrued compensation and benefits   18.8       23.3   Other accrued expenses and current liabilities   27.7       23.0   Current portion of long-term non-revolving debt, net   -       5.4   Dividends payable   4.0       3.0   Income taxes payable   12.1       12.9   Total current liabilities   149.5       143.2   Revolving lines of credit   103.7       105.5   Long-term non-revolving debt, net   244.8       256.2   Deferred income taxes   51.9       52.4   Other noncurrent liabilities   25.4       25.7   Total liabilities   575.3       583.0   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,           33.5 and 33.4 shares issued; 33.1 and 33.1 outstanding at April 04, 2026 and January 03, 2026, respectively   -       -   Capital in excess of par value   445.3       442.9   Treasury stock, at cost, 0.4 and 0.3 shares, respectively   (18.3 )     (13.6 ) Accumulated other comprehensive loss   (45.4 )     (36.9 ) Retained earnings   554.8       539.1   Total shareholders’ equity   936.4       931.5   Total liabilities and shareholders’ equity $ 1,511.7     $ 1,514.5   HELIOS TECHNOLOGIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited)     For The Three Months Ended     April 04,
2026     March 29,
2025   Cash flows from operating activities:           Net income $ 19.7     $ 7.3   Adjustments to reconcile net income to           net cash provided by operating activities:           Depreciation and amortization   15.1       16.0   (Gain) on sale of business, net of CTA loss   (0.4 )     -   Stock-based compensation expense   2.1       1.5   Amortization of debt issuance costs   0.2       0.2   Benefit for deferred income taxes   (0.4 )     (0.7 ) Other, net   0.6       1.3   (Increase) decrease in, net of acquisitions:           Accounts receivable   (22.4 )     (15.3 ) Inventories   (3.7 )     1.1   Income taxes receivable   6.0       0.3   Other current assets   (3.3 )     6.3   Other assets   (0.9 )     (0.1 ) Increase (decrease) in, net of acquisitions:           Accounts payable   11.8       4.8   Accrued expenses and other liabilities   (0.4 )     (5.2 ) Income taxes payable   (0.8 )     2.2   Other noncurrent liabilities   0.7       (0.7 ) Net cash provided by operating activities   23.9       19.0   Cash flows from investing activities:           Capital expenditures   (6.7 )     (6.1 ) Business divestiture proceeds   0.4       -   Software development costs   (0.9 )     (0.7 ) Net cash used in investing activities   (7.2 )     (6.8 ) Cash flows from financing activities:           Borrowings on revolving credit facilities   33.5       14.3   Repayment of borrowings on revolving credit facilities   (33.5 )     (18.1 ) Repayment of borrowings on long-term non-revolving debt   (16.9 )     (4.0 ) Proceeds from stock issued   0.5       0.5   Treasury stock purchases   (4.6 )     -   Dividends paid to shareholders   (3.0 )     (3.0 ) Payment of employee tax withholding on equity award vestings   (0.2 )     (0.5 ) Other financing activities   (0.6 )     (0.5 ) Net cash used in financing activities   (24.8 )     (11.3 ) Effect of exchange rate changes on cash and cash equivalents   (0.7 )     0.9   Net (decrease) increase in cash and cash equivalents   (8.8 )     1.8   Cash and cash equivalents, beginning of period   73.0       44.1   Cash and cash equivalents, end of period $ 64.2     $ 45.9   HELIOS TECHNOLOGIES SEGMENT DATA (In millions) (Unaudited)     For The Three Months Ended     April 04,
2026     March 29,
2025   Net sales:           Hydraulics $ 139.2     $ 126.4   Electronics   89.2       69.1   Consolidated $ 228.4     $ 195.5               Gross profit and margin:           Hydraulics $ 44.3     $ 37.4       31.8 %     29.6 % Electronics   30.6       22.5       34.3 %     32.6 % Consolidated $ 74.9     $ 59.9       32.8 %     30.6 %             Operating income (loss) and margin:           Hydraulics $ 23.4     $ 17.4       16.8 %     13.8 % Electronics   14.2       8.0       15.9 %     11.6 % Corporate and other   (7.7 )     (8.4 ) Consolidated $ 29.9     $ 17.0       13.1 %     8.7 % HELIOS TECHNOLOGIES Net Sales by Geographic Region and Segment (In millions) (Unaudited except for full year 2025)     2026                           Q1   % Change y/y                         Americas:                               Hydraulics $ 56.7   14%                         Electronics   72.0   27%                         Consol. Americas   128.7   21%                         % of total   57 %                           EMEA:                               Hydraulics $ 49.2   30%                         Electronics   8.6   39%                         Consol. EMEA   57.8   31%                         % of total   25 %                           APAC:                               Hydraulics $ 33.3   (14%)                         Electronics   8.6   39%                         Consol. APAC   41.9   (6%)                         % of total   18 %                           Total $ 228.4   17%                                                           2025   Q1   % Change y/y Q2   % Change y/y Q3   % Change y/y Q4   % Change y/y Full Year   % Change y/y Americas:                               Hydraulics $ 49.9   (11%) $ 54.2   (9%) $ 53.7   3% $ 58.4   13% $ 216.3   (1%) Electronics   56.7   (2%)   53.7   (7%)   60.5   19%   65.0   32%   235.9   9% Consol. Americas   106.6   (6%)   107.9   (8%)   114.2   11%   123.4   22%   452.2   4% % of total   55 %     51 %     52 %     59 %     54 %   EMEA:                               Hydraulics $ 37.9   (17%) $ 46.1   8% $ 41.2   12% $ 43.3   35% $ 168.5   7% Electronics   6.2   (5%)   8.5   (6%)   9.8   49%   5.7   21%   30.1   13% Consol. EMEA   44.1   (15%)   54.6   5%   51.0   18%   49.0   33%   198.6   8% % of total   23 %     26 %     23 %     23 %     24 %   APAC:                               Hydraulics $ 38.6   (6%) $ 40.6   (6%) $ 46.4   14% $ 30.4   (15%) $ 156.0   (3%) Electronics   6.2   24%   9.4   27%   8.7   12%   7.9   32%   32.2   23% Consol. APAC   44.8   (3%)   50.0   (2%)   55.1   14%   38.3   (8%)   188.2   1% % of total   23 %     23 %     25 %     18 %     22 %   Total $ 195.5   (8%) $ 212.5   (3%) $ 220.3   13% $ 210.7   17% $ 839.0   4%                                 General note: items may not sum or recalculate due to rounding HELIOS TECHNOLOGIES Non-GAAP Adjusted Operating Income & Non-GAAP Adjusted Operating Margin RECONCILIATION (In millions) (Unaudited)     For The Three Months Ended     April 04,
2026   Margin     March 29,
2025   Margin   GAAP operating income $ 29.9     13.1 %   $ 17.0     8.7 % Acquisition-related amortization of intangible assets   7.6     3.3 %     8.3     4.2 % Acquisition, divestiture, and financing-related expenses   0.1     0.0 %     -     0.0 % Restructuring charges   0.5     0.2 %     0.3     0.2 % Officer transition costs   -     0.0 %     -     0.0 % Goodwill Impairment   -     0.0 %     -     0.0 % Other   -     0.0 %     0.6     0.3 % Non-GAAP adjusted operating income $ 38.1     16.7 %   $ 26.2     13.4 % GAAP operating margin   13.1 %         8.7 %     Non-GAAP adjusted operating margin   16.7 %         13.4 %     Net sales $ 228.4         $ 195.5         General note: items may not sum or recalculate due to rounding Non-GAAP Adjusted EBITDA & Non-GAAP Adjusted EBITDA Margin RECONCILIATION (In millions) (Unaudited)     For The Three Months Ended     April 04,
2026   Margin     March 29,
2025   Margin   Net income $ 19.7     8.6 %   $ 7.3     3.7 % Interest expense, net   5.1     2.2 %     7.4     3.8 % Income tax provision   5.9     2.6 %     2.2     1.1 % Depreciation and amortization   15.1     6.6 %     16.0     8.2 % EBITDA $ 45.8     20.1 %   $ 32.9     16.8 % Acquisition, divestiture, and financing-related expenses   0.1     0.0 %     -     0.0 % Restructuring charges   0.5     0.2 %     0.3     0.2 % Officer transition costs   -     0.0 %     -     0.0 % Goodwill Impairment   -     0.0 %     -     0.0 % (Gain) on sale of business - net of CTA loss   (0.4 )   -0.2 %     -     0.0 % Forward contract losses   -     0.0 %     -     0.0 % Change in fair value of contingent consideration   -     0.0 %     -     0.0 % Other   0.5     0.2 %     0.6     0.3 % Adjusted EBITDA $ 46.5     20.4 %   $ 33.8     17.3 % GAAP net income margin   8.6 %         3.7 %     EBITDA margin   20.1 %         16.8 %     Adjusted EBITDA margin   20.4 %         17.3 %     Net sales $ 228.4         $ 195.5         General note: items may not sum or recalculate due to rounding HELIOS TECHNOLOGIES Non-GAAP Adjusted Net Income & Non-GAAP Adjusted Net Income Per Diluted Share RECONCILIATION (In millions) (Unaudited)     For The Three Months Ended     April 04,
2026   Per Diluted Share     March 29,
2025   Per Diluted Share   GAAP net income $ 19.7   $ 0.59     $ 7.3   $ 0.22   Amortization of intangible assets   8.2     0.25       8.7     0.26   Acquisition, divestiture, and financing-related expenses   0.1     -       -     -   Restructuring charges   0.5     0.01       0.3     0.01   (Gain) on sale of business, net of CTA loss   (0.4 )   (0.01 )     -     -   Other   0.5     0.02       0.6     0.02   Tax effect of above   (2.0 )   (0.06 )     (2.1 )   (0.06 ) Non-GAAP Adjusted net income $ 26.6   $ 0.80     $ 14.8   $ 0.44   GAAP net income per diluted share $ 0.59         $ 0.22       Non-GAAP Adjusted net income per diluted share $ 0.80         $ 0.44         General note: items may not sum or recalculate due to rounding HELIOS TECHNOLOGIES Pro Forma Non-GAAP Net Sales Growth RECONCILIATION (In millions) (Unaudited)     For The Three Months Ended     April 04, 2026     Hydraulics     Electronics     Consolidated   Net sales $ 139.2     $ 89.2     $ 228.4   Impact of foreign currency translation *   (5.3 )     (0.3 )     (5.6 ) Net sales in constant currency $ 133.9     $ 88.9     $ 222.8                 Net sales growth   12.8       20.1       32.9   % Change y/y   10 %     29 %     17 % Growth in constant currency   7.5       19.8       27.3   % Change y/y   6 %     29 %     14 % Pro forma growth in constant currency   21.7       19.8       41.5   % Change y/y   19 %     29 %     23 %   * The impact from foreign currency translation is calculated by translating current period activity at average prior period exchange rates.   For The Three Months Ended     March 29, 2025     Hydraulics     Electronics     Consolidated   Net sales $ 126.4     $ 69.1     $ 195.5   Less: divestiture of CFP   (14.2 )     -       (14.2 ) Pro forma net sales $ 112.2     $ 69.1     $ 181.3       General note: items may not sum or recalculate due to rounding Net Debt-to-Adjusted EBITDA RECONCILIATION (In millions) (Unaudited)       As of     As of       April 04,
2026     March 29,
2025   Current portion of long-term non-revolving debt, net     -       16.1   Revolving lines of credit     103.7       150.3   Long-term non-revolving debt, net     244.8       279.2   Total debt     348.5       445.6   Less: cash and cash equivalents     64.2       45.9   Net debt     284.2       399.7   TTM adjusted EBITDA     173.4       149.7   Ratio of net debt to TTM adjusted EBITDA     1.6       2.7     General note: items may not sum or recalculate due to rounding Non-GAAP Financial Measures and Non-GAAP Forward-looking Financial Measures:
Adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted net income per diluted share, sales in constant currency and pro forma sales are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. The Company does not provide a reconciliation of forward-looking Non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, adjusted net income and adjusted net income per diluted share disclosed above in our 2025 Outlook, to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the Non-GAAP financial measures in future periods. View source version on businesswire.com: https://www.businesswire.com/news/home/20260511867583/en/ For more information, contact:

Tania Almond
Vice President, Investor Relations and Corporate Communication
(941) 362-1333
tania.almond @i are 1
dpawlowski@allianceadvisors.com Original: Helios Technologies Reports First Quarter 2026 Results that Exceeded Outlook with Sales Growth of 17% & Accelerated Earnings Growth Over the Prior Year

Helios Technologies Unveils The CORE 2030 Strategy at 2026 Investor Day and Announces 33% Increase in Quarterly DividendMarch 20, 2026 8:30 AM
Business Wire
Targets Doubling Sales to $1.6 Billion and 25%+ Adjusted EBITDA margin by 2030

Declares Quarterly Dividend of $0.12 per share


Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic control technologies, will present The CORE 2030 Strategy and long-term financial targets today at its previously announced 2026 Investor Day.


“In 2025, Helios returned to sales growth and delivered a strong fourth quarter exit, expanding margins and strengthening our foundation for the future,” said Sean Bagan, President & Chief Executive Officer. “The CORE 2030 Strategy leverages our unique Momentum Model positioning Helios to deliver sustainable, profitable growth and drive value creation for our shareholders.”


As part of the event, Helios is introducing the following 2030 financial targets:



Sales of $1.6 billion (including acquisitions), doubling the Company’s 2025 annual sales of ~$792 million (pro forma for the Custom Fluidpower divestiture)



Adjusted EBITDA margin of 25%+ of sales, representing significant expansion from current levels



Adjusted Operating Income margin of 20% of sales, leveraging the Momentum Model



Return on Invested Capital in the low- to mid-teens, reflecting disciplined capital deployment



The Company will also discuss the key segment initiatives that drove the return to growth in 2025—including operational excellence, go-to-market transformation, and an accelerated new product innovation pipeline. These initiatives contributed to 100 basis points of year-over-year gross margin expansion, more than $60 million in projected annual value from new business wins, and the launch of 11 major new products.


The Company will review its capital allocation priorities going forward, which include maintaining a strong balance sheet, investing in growth, and returning capital to shareholders. Over the past two years, Helios strengthened its balance sheet by paying down approximately $158 million of debt. During this period, the Company also maintained its track record of paying 116 consecutive quarterly dividends and initiating share repurchases under a $100 million authorization.


Increases Quarterly Dividend By 33%


As part of its commitment to disciplined capital allocation and enhancing shareholder returns, the Board of Directors approved a 33% increase to the quarterly dividend, reflecting confidence in the Company’s long-term growth and cash generation outlook under The CORE 2030 Strategy. The Board of Directors declared a quarterly cash dividend of $0.12 per common share. Helios has declared consecutive quarterly dividends to its stockholders for over 29 years, beginning with the first quarter 1997.


The dividend will be payable on April 27, 2026 to stockholders of record as of April 13, 2026. Helios Technologies has approximately 33.1 million shares of common stock outstanding.


Investor Day Webcast


A live webcast of the event will be available at https://www.heliostechnologies.com/investors. Investors are encouraged to register for the event at least 15 minutes prior to the start time. A replay of the presentations as well as a copy of the slides will be available following the event.


About Helios Technologies

Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisitions. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997.


For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.


FORWARD-LOOKING INFORMATION


This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the effectiveness of creating the Centers of Excellence; (iii) our financial plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the Company’s ability to declare and pay dividends; (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of our business; and (viii) the Company's ability to mitigate the impacts of changes in trade policy on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.


Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, including the interest rate environment and the continued availability of capital on terms acceptable to us, or at all; (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could affect the Company’s revenue and/or cost bases, such as increased competition, lack of qualified engineering, marketing, management or other personnel, and increased labor and raw materials costs; (vi) risks related to health epidemics, pandemics and similar outbreaks, which may among other things, adversely affect our supply chain, material costs, and work force and may have material adverse effects on our business, financial position, results of operations and/or cash flows; (vii) risks related to our international operations, including potential impacts from the ongoing geopolitical conflicts in Ukraine and the Middle East; (viii) risks relating to our recent management transition; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders, including regulators, views regarding our environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended January 3, 2026, filed with the Securities and Exchange Commission (SEC) on March 3, 2026.


Helios has presented net debt-to-adjusted EBITDA, a Non-GAAP measure. Helios believes that providing net debt-to-adjusted EBITDA is important for investors and other readers, as it is used as an analytical indicator by Helios management to better understand operating performance. The determination of the amounts that are excluded from this Non-GAAP measure is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided herein. Because net debt-to-adjusted EBITDA is a Non-GAAP measure and is thus susceptible to varying calculations, this figure, as presented, may not be directly comparable to other similarly titled measures used by other companies.


This news release also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA margin and Return on Invested Capital. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2030 financial targets. These Non-GAAP financial measures are forecasts and are subject to risks and uncertainties. Any variation between the Company’s actual results and the forecasts set forth above may be material.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260320497791/en/
For more information, contact:

Tania Almond

Vice President, Investor Relations and Corporate Communication

(941) 362-1333

tania.almond@HLIO.com


Deborah Pawlowski

Alliance Advisors IR

(716) 843-3908

dpawlowski@allianceadvisors.com


Original: Helios Technologies Unveils The CORE 2030 Strategy at 2026 Investor Day and Announces 33% Increase in Quarterly Dividend

Helios Technologies Reports Fourth Quarter 2025 Sales Growth of 17% with Expanded Profitability While Generating Record Cash FlowMarch 2, 2026 4:15 PM
Business Wire

Grew 4Q25 net sales to $211 million, up 17%, from strength in both segments and up 29% on pro forma basis for the divestiture; Full year net sales of $839 million, returned to annual growth of 4%, and up 6% pro forma



Expanded 4Q25 gross margin to 33.6% or 350 bps over prior year period driven by volume, mix and productivity enhancements; Full year gross margin of 32.3% up 100 bps compared to prior year



Delivered 4Q25 diluted EPS of $0.58 up 314% and adjusted diluted EPS of $0.81, up 145% over prior year period; Full year diluted EPS of $1.45 up 24% and adjusted diluted EPS of $2.56 up 22% over prior year



Generated a record $46 million in cash from operations for the quarter and a record $127 million for FY25



Reduced net-debt-to-adjusted EBITDA leverage ratio to 1.8x, down from 2.6x in the prior-year period with total debt reduction of $82 million, down 18%; Liquidity has surpassed total debt



Maintained over 28 years, or 116 quarters in a row, of consistent cash dividend payments; Repurchased 330,000 shares of the Company's common stock for $13.6 million in FY25



Initiating 2026 outlook with full year sales expected to be +4% to +9% over 2025 pro forma (excludes divested business); Remain focused on working capital; Executing on plan to drive growth, improve margins and returns



Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology, today reported financial results for the fourth quarter and fiscal year 2025 ended January 3, 2026.


“We finished 2025 ahead of recent expectations, with all businesses reporting quarterly sales and earnings growth, leading to full-year sales growth for the first time in three years, while also delivering record free cash flow. Fourth quarter sales were up 17% resulting in 4% growth for the year to $839 million. On a pro forma basis, excluding the Custom Fluidpower ("CFP") divestiture, sales for the fourth quarter were up 29% and for the full year up 6%. Returning the business to profitable sales growth is a testament to our global team’s customer focus and relentless execution in overcoming subdued end markets and the disruption created by global tariff escalation. Our margins are strengthening and, importantly, our working capital reduction efforts have yielded measurable results. We generated record cash flow and paid down $82 million in debt this year. Our balance sheet is strong, and our net-debt-to-adjusted EBITDA leverage ratio is comfortably below 2.0x, a level that has not been achieved since 2Q22,” said Sean Bagan, President & Chief Executive Officer of Helios.


“As we start 2026, Helios is extremely well positioned with a strong funnel of opportunities generated by our go-to-market initiatives focused on customer centricity and the innovative products we have launched. We now have the right structure and the right leadership team to deliver improved results and return Helios to being a growth engine with strong returns on the capital we continue to deploy. Our team is dedicated, energized, and fully engaged, building our plans from the ground up to deliver on our commitments. Capitalizing on the return to growth we achieved in 2025, I expect 2026 to extend that momentum and lead to an even stronger future for Helios,” he concluded.


Fourth Quarter 2025 Consolidated Results




 






For the Three Months Ended






 






 






For the Year Ended






 








($ in millions, except per share data)

(Unaudited)






January 03,

2026






 






 






December 28,

2024






 






 






Change






 






 






%

Change






 






 






January 03,

2026






 






 






December 28,

2024






 






 






Change






 






 






%

Change






 








Net sales






$






210.7






 






 






$






179.5






 






 






$






31.2






 






 






17






%






 






$






839.0






 






 






$






805.9






 






 






$






33.1






 






 






4






%








Gross profit






$






70.8






 






 






$






54.0






 






 






$






16.8






 






 






31






%






 






$






271.2






 






 






$






252.3






 






 






$






18.9






 






 






7






%








Gross margin






 






33.6






%






 






 






30.1






%






 






 






350






 






bps






 






 






 






 






32.3






%






 






 






31.3






%






 






 






100






 






bps






 






 








Operating income






$






25.7






 






 






$






13.3






 






 






$






12.5






 






 






94






%






 






$






66.0






 






 






$






81.8






 






 






$






(15.8






)






 






(19






%)








Operating margin






 






12.2






%






 






 






7.4






%






 






 






480






 






bps






 






 






 






 






7.9






%






 






 






10.2






%






 






 






(230






)






bps






 






 








Non-GAAP adjusted operating margin*






 






16.4






%






 






 






13.3






%






 






 






310






 






bps






 






 






 






 






15.4






%






 






 






15.2






%






 






 






20






 






bps






 






 








Net income






$






19.5






 






 






$






4.8






 






 






$






14.7






 






 






306






%






 






$






48.4






 






 






$






39.0






 






 






$






9.4






 






 






24






%








Diluted EPS






$






0.58






 






 






$






0.14






 






 






$






0.44






 






 






314






%






 






$






1.45






 






 






$






1.17






 






 






$






0.28






 






 






24






%








Non-GAAP net income*






$






26.9






 






 






$






10.9






 






 






$






16.0






 






 






147






%






 






$






85.3






 






 






$






69.7






 






 






$






15.6






 






 






22






%








Diluted Non-GAAP EPS*






$






0.81






 






 






$






0.33






 






 






$






0.48






 






 






145






%






 






$






2.56






 






 






$






2.10






 






 






$






0.46






 






 






22






%








Adjusted EBITDA*






$






42.3






 






 






$






31.2






 






 






$






11.1






 






 






36






%






 






$






160.7






 






 






$






154.5






 






 






$






6.2






 






 






4






%








Adjusted EBITDA margin*






 






20.1






%






 






 






17.4






%






 






 






270






 






bps






 






 






 






 






19.2






%






 






 






19.2






%






 






 






0






 






bps






 






 








* Adjusted numbers are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.







Sales



Changes in mix: compared with the fourth quarter of the prior-year period, Hydraulics segment sales increased 10% while Electronics segment sales increased 31%.



By region: year-over-year sales increased in the Americas 22% and Europe, Middle East and Africa (“EMEA”) 33% while Asia Pacific (“APAC”) declined 8% and on a pro forma basis APAC increased 46%.



Other impacts: foreign currency (FX) translation favorably impacted sales by $3.3 million in the fourth quarter 2025.



Profits and margins



Gross profit and margin impacts: gross profit increased 31%, or $16.8 million compared with the year ago period. Gross margin expanded 350 bps primarily from the impact of higher volume and lower direct labor costs as a percentage of sales partially offset by net tariff impacts.



Selling, engineering and administrative (“SEA”) expenses: increased $4.7 million, or 14%, compared with the year ago period while as a percentage of sales, SEA expenses declined 50 bps.



Operating income: increased $12.5 million, or 94%, driven by the increase in gross profit partially offset by an increase in SEA expenses.



Amortization of intangible assets: $7.6 million down 4% compared with the year ago period. The decrease was primarily driven by the divestiture of the CFP business.



Non-operating items



Net interest expense: declined $7.5 million, or 92%, in the quarter compared with the year ago period as a result of lower debt balances, lower rates, combined with refinanced lower spreads. Also, interest expense was lower from the one-time benefit of $5.4 million related to an interest rate swap that was originally due for maturity this quarter from when the Company refinanced its debt in 2024.



Effective tax rate: fourth quarter and full year of 2025 was 22.7% and 22.5% compared with 37.2% and 22.8% in the corresponding period of 2024, respectively. These effective rates fluctuate relative to the levels of income and different tax rates in effect among the countries in which we sell our products. The 2025 period included impacts due to the goodwill impairment and gain on the sale of CFP. The 2024 period included an overall increase in discrete tax benefits driven by the previous CEO's termination in July 2024.



Net income, diluted earnings per share (“EPS”), adjusted diluted EPS, and adjusted EBITDA margin



GAAP net income: increased by $14.7 million compared with the year ago period primarily as a result stronger margins on a higher sales volume. On a per diluted share basis, earnings increased 314%, or $0.44, to $0.58.



Adjusted diluted EPS: increased $0.48, or 145%, to $0.81 compared with the year ago period.



Adjusted EBITDA margin: expanded 270 bps to 20.1% compared with the year ago period reflecting the impact of the items referenced above.



Hydraulics Segment Review


(Refer to sales by geographic region and segment data in accompanying tables)




 






 






 






 






 






 






 






 








Hydraulics






For the Three Months Ended








($ in millions)

(Unaudited)






January 03,

2026






 






December 28,

2024






 






Change






 






% Change








Net Sales






 






 






 






 






 






 






 








Americas






$






58.4






 






 






$






51.7






 






 






$






6.7






 






 






13






%








EMEA






 






43.3






 






 






 






32.1






 






 






 






11.2






 






 






35






%








APAC






 






30.4






 






 






 






35.9






 






 






 






(5.5






)






 






(15






%)








Total Segment Sales






$






132.1






 






 






$






119.7






 






 






$






12.4






 






 






10






%








Gross Profit






$






45.0






 






 






$






35.5






 






 






$






9.5






 






 






27






%








Gross Margin






 






34.1






%






 






 






29.7






%






 






 






440






 






bps






 








SEA Expenses






$






20.3






 






 






$






19.0






 






 






$






1.3






 






 






7






%








Operating Income






$






24.7






 






 






$






16.5






 






 






$






8.2






 






 






50






%








Operating Margin






 






18.7






%






 






 






13.8






%






 






 






490






 






bps






 







Fourth Quarter 2025 Hydraulics Segment Review



Sales: strong growth in EMEA and the Americas more than offset the decline in APAC, which was entirely driven by the CFP divestiture. On a pro-forma basis, APAC was up 51%. Consolidated sales increased 10% compared with the prior year. Sales growth was driven by growth in mobile, primarily construction, and agriculture markets. FX had a favorable $3.3 million impact on sales compared with the year ago period.



Gross profit and margin drivers: gross profit increased $9.5 million, or 27%, and margin expanded 440 bps primarily due to better fixed cost leverage on higher volume, lower direct labor costs as a percentage of sales, and the favorable impact of the CFP divestiture.



Operating income and operating margin: operating income increased $8.2 million, or 50%, and operating margin expanded 490 bps, compared with the year ago period due to improved gross profit and margin somewhat offset by modestly increased operating expenses. SEA expenses were $1.3 million higher than the year ago period, as a result of investments in wages and benefits, while SEA declined over 50 bps as a percentage of sales.



Electronics Segment Review


(Refer to sales by geographic region and segment data in accompanying tables)




 






 






 






 






 






 






 






 








Electronics






For the Three Months Ended








($ in millions)

(Unaudited)






January 03,

2026






 






December 28,

2024






 






Change






 






% Change








Net Sales






 






 






 






 






 






 






 








Americas






$






65.0






 






 






$






49.1






 






 






$






15.9






 






32






%








EMEA






 






5.7






 






 






 






4.7






 






 






 






1.0






 






21






%








APAC






 






7.9






 






 






 






6.0






 






 






 






1.9






 






32






%








Total Segment Sales






$






78.60






 






 






$






59.8






 






 






$






18.8






 






31






%








Gross Profit






$






25.9






 






 






$






18.5






 






 






$






7.4






 






40






%








Gross Margin






 






33.0






%






 






 






30.9






%






 






 






210






bps






 








SEA Expenses






$






16.4






 






 






$






13.1






 






 






$






3.3






 






25






%








Operating Income






$






9.5






 






 






$






5.4






 






 






$






4.1






 






76






%








Operating Margin






 






12.0






%






 






 






9.0






%






 






 






300






bps






 







Fourth Quarter 2025 Electronics Segment Review



Sales: grew 31% with all regions growing over 20% reflecting significant strength in the recreational end market driven by strong demand from OEM customers as well as improvements in health and wellness, mobile and industrial end markets.



Gross profit and margin drivers: gross profit increased $7.4 million, or 40%, and margin expanded 210 bps primarily due to higher volumes and more favorable sales mix within the segment.



Operating income and operating margin: growth in operating income of $4.1 million, or 76%, and operating margin expanding 300 bps was the result of higher sales volume and the resulting increase in gross profit and increased leverage on SEA expenses.



Cash Flow, Balance Sheet and Financial Flexibility



Net cash provided by operations: generated $46 million in the fourth quarter 2025, up 29% compared with the year ago period driven primarily by stronger cash earnings and working capital improvements.



Continued debt reduction: total debt at January 3, 2026, was $367.1 million down 18% from $446.5 million at December 28, 2024.



Cash and cash equivalents: as of January 3, 2026, were $73.0 million up from $44.1 million in the year ago period.



Cash conversion cycle: decreased from the prior-year period reflecting improved inventory management and extending supplier payment terms.



Net debt-to-adjusted EBITDA leverage ratio: improved to 1.8x compared with 2.6x at the end of the comparable year ago period. At the end of the fourth quarter 2025, the Company had $393.6 million available on its revolving lines of credit.



Capital expenditures: were $5.5 million in the fourth quarter 2025, or 2.6% of sales. This compares with $7.4 million, or 4.1% of sales in the year ago period.



Share repurchases: during 2025, the Company repurchased a total of 330,000 shares for $13.6 million.



Dividends: paid 116th consecutive quarterly cash dividend of $0.09 per share on January 21, 2026, a history of over 28 consecutive years of dividends.



Initiates Full Year 2026 Guidance and First Quarter 2026 Outlook1


Jeremy Evans, Executive Vice President, Chief Financial Officer, commented,“We made solid progress across the board on our 2025 financial priorities. We have established new financial priorities as we enter 2026, grounded in our second year of deep strategic planning, that include (i) executing on our growth plan (ii) expanding gross margins (iii) maintaining earnings momentum and (iv) optimizing capital allocation. Our focus remains disciplined and forward-looking. We are aligning investments to our highest-return opportunities, driving operational efficiency across the organization, and building upon our strong foundation that will enable sustainable, long-term value creation. I am confident that the clarity of our strategy, combined with the strength of our team, will enable us to deliver another year of meaningful financial advancement in 2026."


The following provides the Company’s expectations for 2026 as of March 2, 2026. This assumes constant currency, using 2025 year end foreign exchange rates.




 






FY25 Actual






FY26 Outlook






1Q26 Outlook








Sales






$839 million




$792 million pro forma2






$820 to $860 million






$218 to $223 million








Adjusted EBITDA margin






19.2%






19.5% to 21.0%






19.5% to 20.5%








Adjusted Diluted EPS






$2.56






$2.60 to $2.90






$0.65 to $0.70







 


 



1 Reference "Fourth Quarter 2025 Earnings Presentation" slides for details and assumptions








2 Pro forma reflects CFP divestiture: FY25 & 1Q25 contained $47M & $14M, respectively, of sales now divested.








Forward-looking adjusted EBITDA margin and adjusted diluted EPS represent Non-GAAP financial measures. The Company has presented the comparable GAAP figures in the table above. See comments on reconciliation of forward-looking non-GAAP financial measures in the Forward-Looking Information included in this release describing the safe harbor provided within the meaning of Section 21E of the Securities Exchange Act of 1934.







Webcast


The Company will host a conference call and webcast tomorrow, Tuesday, March 3, 2026, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its outlook. A question-and-answer session will follow. The conference call can be accessed by calling (201) 689-8573. The audio webcast will be available at www.heliostechnologies.com.


A telephonic replay will be available from approximately 1:00 p.m. ET on the day of the call through Tuesday, March 17, 2026. To listen to the archived call, dial (412) 317-6671 and enter conference ID number 13757874. The webcast replay will be available in the investor relations section of the Company’s website at www.heliostechnologies.com.


About Helios Technologies


Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisitions. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.


FORWARD-LOOKING INFORMATION


This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios,” the “Company,” "we," "us," or "our"), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, and improving margins, including its intention to develop new products and undertake acquisitions and divestitures; (ii) the effectiveness of creating and operating the Centers of Excellence; (iii) our financial plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the Company’s ability to declare and pay dividends; (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of the cyclical nature of our business; and (viii) the Company's ability to mitigate the impacts of changes in trade policy on our business. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.


Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to, (i) the Company’s ability to respond to global economic trends and changes in customer demand domestically and internationally, including as a result of standardization and the cyclical nature of our business, which can adversely affect the demand for capital goods; (ii) supply chain disruption and the potential inability to procure goods; (iii) conditions in the capital markets, including the interest rate environment and the continued availability of capital on terms acceptable to us, or at all; (iv) global and regional economic and political conditions, including trade policy, tariffs and other trade barriers, inflation, exchange rates, changes in the cost or availability of energy, transportation, the availability of other necessary supplies and services and recession; (v) changes in the competitive marketplace that could affect the Company’s revenue and/or cost bases, such as increased competition, lack of qualified engineering, marketing, management or other personnel, and increased labor and raw materials costs; (vi) risks related to health epidemics, pandemics and similar outbreaks, which may among other things, adversely affect our supply chain, material costs, and work force and may have material adverse effects on our business, financial position, results of operations and/or cash flows; (vii) risks related to our international operations, including potential impacts from the ongoing geopolitical conflicts in Ukraine and the Middle East; (viii) risks relating to our recent management transition; (ix) new product introductions, product sales mix and the geographic mix of sales nationally and internationally; and (x) stakeholders, including regulators, views regarding our environmental, social and governance goals and initiatives, and the impact of factors outside of our control on such goals and initiatives. Further information relating to additional factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended December 28, 2024 filed with the Securities and Exchange Commission (SEC) on February 25, 2025 as well as our upcoming 10-K to be filed with the SEC.


Helios has presented non-GAAP measures including adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, and adjusted net income per diluted share and sales in constant currency. Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. The determination of the amounts that are excluded from these Non-GAAP measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income recognized in a given period. You should not consider the inclusion of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. Please carefully review the Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies.


This news release also presents forward-looking statements regarding Non-GAAP measures, including adjusted EBITDA, adjusted EBITDA margin and adjusted net income per diluted share. The Company is unable to present a quantitative reconciliation of these forward-looking Non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict the necessary components of such GAAP measures without unreasonable effort or expense. In addition, the Company believes that such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the Company’s 2025 financial results. These Non-GAAP financial measures are preliminary estimates and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the Company’s actual results and preliminary financial data set forth above may be material.


Financial Tables Follow:




HELIOS TECHNOLOGIES








CONSOLIDATED STATEMENTS OF OPERATIONS








(In millions, except per share data)








(Unaudited except full year ending December 28, 2024)







 



 






For the Three Months Ended






 






For the Year Ended








 






January 03,

2026






 






December 28,

2024






 






%

Change






 






January 03,

2026






 






December 28,

2024






 






%

Change








Net sales






$






210.7






 






 






$






179.5






 






 






17






%






 






$






839.0






 






 






$






805.9






 






 






4






%








Cost of sales






 






139.9






 






 






 






125.5






 






 






11






%






 






 






567.8






 






 






 






553.6






 






 






3






%








Gross profit






 






70.8






 






 






 






54.0






 






 






31






%






 






 






271.2






 






 






 






252.3






 






 






7






%








Gross margin






 






33.6






%






 






 






30.1






%






 






 






 






 






32.3






%






 






 






31.3






%






 






 








 






 






 






 






 






 






 






 






 






 






 






 








Selling, engineering and administrative expense






 






37.5






 






 






 






32.8






 






 






14






%






 






 






147.6






 






 






 






139.0






 






 






6






%








Amortization of intangible assets






 






7.7






 






 






 






7.9






 






 






(3






)%






 






 






31.7






 






 






 






31.5






 






 






1






%








Goodwill impairment






 






-






 






 






 






-






 






 






-






%






 






 






25.9






 






 






 






-






 






 






-






%








Operating income






 






25.7






 






 






 






13.3






 






 






93






%






 






 






66.0






 






 






 






81.8






 






 






(19






)%








Operating margin






 






12.2






%






 






 






7.4






%






 






 






 






 






7.9






%






 






 






10.2






%






 






 








 






 






 






 






 






 






 






 






 






 






 






 








Interest expense, net






 






0.6






 






 






 






8.1






 






 






(92






)%






 






 






21.9






 






 






 






33.8






 






 






(35






)%








Foreign currency transaction loss, net






 






0.1






 






 






 






0.8






 






 






(92






)%






 






 






1.3






 






 






 






1.3






 






 






0






%








Other non-operating (income) expense, net






 






(0.2






)






 






 






(3.2






)






 






(94






)%






 






 






(19.6






)






 






 






(3.8






)






 






418






%








Income before income taxes






 






25.2






 






 






 






7.6






 






 






229






%






 






 






62.4






 






 






 






50.5






 






 






24






%








Income tax provision






 






5.7






 






 






 






2.8






 






 






102






%






 






 






14.0






 






 






 






11.5






 






 






22






%








Net income






$






19.5






 






 






$






4.8






 






 






306






%






 






$






48.4






 






 






$






39.0






 






 






24






%








 






 






 






 






 






 






 






 






 






 






 






 








Net income per share:






 






 






 






 






 






 






 






 






 






 






 








Basic






$






0.59






 






 






$






0.14






 






 






321






%






 






$






1.46






 






 






$






1.17






 






 






25






%








Diluted






$






0.58






 






 






$






0.14






 






 






314






%






 






$






1.45






 






 






$






1.17






 






 






24






%








 






 






 






 






 






 






 






 






 






 






 






 








Weighted average shares outstanding:






 






 






 






 






 






 






 






 






 






 






 








Basic






 






33.1






 






 






 






33.2






 






 






 






 






 






33.2






 






 






 






33.2






 






 






 








Diluted






 






33.2






 






 






 






33.4






 






 






 






 






 






33.3






 






 






 






33.3






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 








Dividends declared per share






$






0.09






 






 






$






0.09






 






 






 






 






$






0.36






 






 






$






0.36






 






 






 









HELIOS TECHNOLOGIES








CONSOLIDATED BALANCE SHEETS








(In millions, except per share data)







 



 






January 03,

2026






 






December 28,

2024








 






(Unaudited)






 






 








Assets






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






73.0






 






 






$






44.1






 








Accounts receivable, net of allowance for credit losses of $1.4 and $2.4






 






116.0






 






 






 






104.6






 








Inventories, net






 






188.6






 






 






 






190.1






 








Income taxes receivable






 






15.4






 






 






 






15.1






 








Other current assets






 






21.9






 






 






 






30.3






 








Total current assets






 






414.9






 






 






 






384.2






 








Property, plant and equipment, net






 






206.6






 






 






 






216.4






 








Deferred income taxes






 






1.9






 






 






 






2.1






 








Goodwill






 






498.1






 






 






 






498.9






 








Other intangible assets, net






 






369.9






 






 






 






384.0






 








Other assets






 






23.1






 






 






 






19.8






 








Total assets






$






1,514.5






 






 






$






1,505.4






 








Liabilities and shareholders’ equity






 






 






 








Current liabilities:






 






 






 








Accounts payable






$






75.6






 






 






$






56.7






 








Accrued compensation and benefits






 






23.3






 






 






 






24.6






 








Other accrued expenses and current liabilities






 






23.0






 






 






 






25.8






 








Current portion of long-term non-revolving debt, net






 






5.4






 






 






 






16.0






 








Dividends payable






 






3.0






 






 






 






3.0






 








Income taxes payable






 






12.9






 






 






 






12.5






 








Total current liabilities






 






143.2






 






 






 






138.6






 








Revolving lines of credit






 






105.5






 






 






 






147.3






 








Long-term non-revolving debt, net






 






256.2






 






 






 






283.2






 








Deferred income taxes






 






52.4






 






 






 






41.1






 








Other noncurrent liabilities






 






25.7






 






 






 






30.8






 








Total liabilities






 






583.0






 






 






 






641.0






 








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,






 






 






 








33.4 and 33.3 shares issued; 33.1 and 33.3 outstanding at January 3, 2026 and December 28, 2024, respectively






 






-






 






 






 






-






 








Capital in excess of par value






 






442.9






 






 






 






437.4






 








Treasury stock, at cost, 0.3 and 0 shares, respectively






 






(13.6






)






 






 






-






 








Accumulated other comprehensive loss






 






(36.9






)






 






 






(75.6






)








Retained earnings






 






539.1






 






 






 






502.6






 








Total shareholders’ equity






 






931.5






 






 






 






864.4






 








Total liabilities and shareholders’ equity






$






1,514.5






 






 






$






1,505.4






 









HELIOS TECHNOLOGIES








CONSOLIDATED STATEMENTS OF CASH FLOWS








(In millions)








(Unaudited except for period ending December 28, 2024)







 



 






For the Year Ended








 






January 03,

2026






 






December 28,

2024








Cash flows from operating activities:






 






 






 








Net income






$






48.4






 






 






$






39.0






 








Adjustments to reconcile net income to






 






 






 








net cash provided by operating activities:






 






 






 








Depreciation and amortization






 






63.0






 






 






 






63.8






 








(Gain) on sale of business, Net of CTA loss






 






(18.8






)






 






 






-






 








Goodwill Impairment






 






25.9






 






 






 






-






 








Stock-based compensation expense






 






5.1






 






 






 






3.4






 








Amortization of debt issuance costs






 






0.7






 






 






 






1.1






 








Benefit for deferred income taxes






 






(1.1






)






 






 






(8.3






)








Forward contract losses, net






 






0.6






 






 






 






-






 








Other, net






 






(5.3






)






 






 






3.2






 








(Increase) decrease in, net of acquisitions:






 






 






 








Accounts receivable






 






(16.5






)






 






 






7.3






 








Inventories






 






(2.7






)






 






 






19.4






 








Income taxes receivable






 






0.3






 






 






 






(3.8






)








Other current assets






 






4.2






 






 






 






(8.1






)








Other assets






 






4.7






 






 






 






5.1






 








Increase (decrease) in, net of acquisitions:






 






 






 








Accounts payable






 






22.0






 






 






 






(11.8






)








Accrued expenses and other liabilities






 






2.1






 






 






 






5.7






 








Income taxes payable






 






(0.7






)






 






 






10.7






 








Other noncurrent liabilities






 






(4.6






)






 






 






(4.6






)








Net cash provided by operating activities






 






127.3






 






 






 






122.1






 








Cash flows from investing activities:






 






 






 








Capital expenditures






 






(23.7






)






 






 






(27.0






)








Proceeds from dispositions of property, plant and equipment






 






0.3






 






 






 






0.1






 








Business Divestiture Proceeds






 






47.3






 






 






 






-






 








Software development costs






 






(3.6






)






 






 






(3.4






)








Net cash used in investing activities






 






20.3






 






 






 






(30.3






)








Cash flows from financing activities:






 






 






 








Borrowings on revolving credit facilities






 






57.6






 






 






 






41.6






 








Repayment of borrowings on revolving credit facilities






 






(114.3






)






 






 






(88.7






)








Borrowings on long-term non-revolving debt






 






-






 






 






 






126.8






 








Repayment of borrowings on long-term non-revolving debt






 






(38.2






)






 






 






(147.7






)








Proceeds from stock issued






 






1.8






 






 






 






2.2






 








Treasury stock purchases






 






(13.6






)






 






 






-






 








Dividends paid to shareholders






 






(12.0






)






 






 






(11.9






)








Payment of employee tax withholding on equity award vestings






 






(1.4






)






 






 






(2.6






)








Proceeds received upon termination of Cash Flow hedge instruments






 






-






 






 






 






7.1






 








Other financing activities






 






(1.8






)






 






 






(5.2






)








Net cash used in financing activities






 






(121.9






)






 






 






(78.4






)








Effect of exchange rate changes on cash and cash equivalents






 






3.2






 






 






 






(1.7






)








Net increase in cash and cash equivalents






 






28.9






 






 






 






11.7






 








Cash and cash equivalents, beginning of period






 






44.1






 






 






 






32.4






 








Cash and cash equivalents, end of period






$






73.0






 






 






$






44.1






 









HELIOS TECHNOLOGIES








SEGMENT DATA








(In millions)








(Unaudited except full year ending December 28, 2024)







 



 






For the Three Months Ended






 






For the Year Ended








 






January 03,

2026






 






December 28,

2024






 






January 03,

2026






 






December 28,

2024








Net Sales:






 






 






 






 






 






 






 








Hydraulics






$






132.1






 






 






$






119.7






 






 






$






540.8






 






 






$






537.2






 








Electronics






 






78.6






 






 






 






59.8






 






 






 






298.2






 






 






 






268.7






 








Consolidated






$






210.7






 






 






$






179.5






 






 






$






839.0






 






 






$






805.9






 








 






 






 






 






 






 






 






 








Gross profit and margin:






 






 






 






 






 






 






 








Hydraulics






$






45.0






 






 






$






35.5






 






 






$






174.8






 






 






$






165.8






 








 






 






34.1






%






 






 






29.7






%






 






 






32.3






%






 






 






30.9






%








Electronics






 






25.9






 






 






 






18.5






 






 






 






96.4






 






 






 






86.5






 








 






 






33.0






%






 






 






30.9






%






 






 






32.3






%






 






 






32.2






%








Consolidated






$






70.9






 






 






$






54.0






 






 






$






271.2






 






 






$






252.3






 








 






 






33.6






%






 






 






30.1






%






 






 






32.3






%






 






 






31.3






%








 






 






 






 






 






 






 






 








Operating income (loss) and margin:






 






 






 






 






 






 






 








Hydraulics






$






24.7






 






 






$






16.5






 






 






$






91.4






 






 






$






86.4






 








 






 






18.7






%






 






 






13.8






%






 






 






16.9






%






 






 






16.1






%








Electronics






 






9.5






 






 






 






5.4






 






 






 






9.7






 






 






 






29.6






 








 






 






12.0






%






 






 






9.0






%






 






 






3.2






%






 






 






11.0






%








Corporate and other






 






(8.5






)






 






 






(8.6






)






 






 






(35.1






)






 






 






(34.2






)








Consolidated






$






25.7






 






 






$






13.3






 






 






$






66.0






 






 






$






81.8






 








 






 






12.2






%






 






 






7.4






%






 






 






7.9






%






 






 






10.2






%









HELIOS TECHNOLOGIES








Net Sales by Geographic Region and Segment








(In millions)








(Unaudited except for full year 2024)







 



 






2025








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






Q1






 






% Change

y/y






Q2






 






% Change

y/y






Q3






 






% Change

y/y






Q4






 






% Change

y/y






Full Year






 






% Change

y/y








Americas:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






49.9






 






(11%)






$






54.2






 






(9%)






$






53.7






 






3%






$






58.4






 






13%






$






216.3






 






(1%)








Electronics






 






56.7






 






(2%)






 






53.7






 






(7%)






 






60.5






 






19%






 






65.0






 






32%






 






235.9






 






9%








Consol. Americas






 






106.6






 






(6%)






 






107.9






 






(8%)






 






114.2






 






11%






 






123.4






 






22%






 






452.2






 






4%








% of total






 






55






%






 






 






51






%






 






 






52






%






 






 






59






%






 






 






54






%






 








EMEA:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






37.9






 






(17%)






$






46.1






 






8%






$






41.2






 






12%






$






43.3






 






35%






$






168.5






 






7%








Electronics






 






6.2






 






(5%)






 






8.5






 






(6%)






 






9.8






 






49%






 






5.7






 






21%






 






30.1






 






13%








Consol. EMEA






 






44.1






 






(15%)






 






54.6






 






5%






 






51.0






 






18%






 






49.0






 






33%






 






198.6






 






8%








% of total






 






23






%






 






 






26






%






 






 






23






%






 






 






23






%






 






 






24






%






 








APAC:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






38.6






 






(6%)






$






40.6






 






(6%)






$






46.4






 






14%






$






30.4






 






(15%)






$






156.0






 






(3%)








Electronics






 






6.2






 






24%






 






9.4






 






27%






 






8.7






 






12%






 






7.9






 






32%






 






32.2






 






23%








Consol. APAC






 






44.8






 






(3%)






 






50.0






 






(2%)






 






55.1






 






14%






 






38.3






 






(8%)






 






188.2






 






1%








% of total






 






23






%






 






 






23






%






 






 






25






%






 






 






18






%






 






 






22






%






 








Total






$






195.5






 






(8%)






$






212.5






 






(3%)






$






220.3






 






13%






$






210.7






 






17%






$






839.0






 






4%








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






2024








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






Q1






 






% Change

y/y






Q2






 






% Change

y/y






Q3






 






% Change

y/y






Q4






 






% Change

y/y






Full Year






 






% Change

y/y








Americas:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






55.8






 






(4%)






$






59.5






 






(2%)






$






52.1






 






(6%)






$






51.7






 






(14%)






$






219.1






 






(7%)








Electronics






 






58.1






 






5%






$






57.8






 






(9%)






$






50.9






 






(14%)






$






49.1






 






1%






 






215.9






 






(5%)








Consol. Americas






 






113.9






 






1%






 






117.3






 






(5%)






 






103.0






 






(11%)






 






100.8






 






(8%)






 






435.0






 






(6%)








% of total






 






54






%






 






 






53






%






 






 






53






%






 






 






56






%






 






 






54






%






 








EMEA:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






45.5






 






(8%)






$






42.8






 






(17%)






$






36.7






 






(5%)






$






32.1






 






(16%)






$






157.1






 






(12%)








Electronics






 






6.5






 






(3%)






 






9.0






 






29%






 






6.5






 






14%






 






4.7






 






(19%)






 






26.7






 






6%








Consol. EMEA






 






52.0






 






(7%)






 






51.8






 






(11%)






 






43.2






 






(3%)






 






36.8






 






(16%)






 






183.8






 






(9%)








% of total






 






25






%






 






 






24






%






 






 






22






%






 






 






21






%






 






 






23






%






 








APAC:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Hydraulics






$






41.1






 






2%






$






43.4






 






7%






$






40.6






 






8%






$






35.9






 






1%






$






161.0






 






5%








Electronics






 






5.0






 






35%






 






7.4






 






48%






 






7.7






 






79%






 






6.0






 






18%






 






26.1






 






44%








Consol. APAC






 






46.1






 






5%






 






50.8






 






12%






 






48.3






 






16%






 






41.9






 






3%






 






187.1






 






9%








% of total






 






22






%






 






 






23






%






 






 






25






%






 






 






23






%






 






 






23






%






 








Total






$






212.0






 






(1%)






$






219.9






 






(3%)






$






194.5






 






(3%)






$






179.5






 






(7%)






$






805.9






 






(4%)









HELIOS TECHNOLOGIES








Non-GAAP Adjusted Operating Income & Non-GAAP Adjusted Operating Margin RECONCILIATION








(In millions)








(Unaudited)







 



 






For the Three Months Ended






 






 






For the Year Ended






 








 






January 03,

2026






 






Margin






 






 






December 28,

2024






 






Margin






 






 






January 03,

2026






 






Margin






 






 






December 28,

2024






 






Margin






 








GAAP operating income






$






25.7






 






 






12.2






%






 






$






13.3






 






 






7.4






%






 






$






66.0






 






 






7.9






%






 






$






81.8






 






 






10.2






%








Acquisition-related amortization of intangible assets






 






7.6






 






 






3.6






%






 






 






7.9






 






 






4.4






%






 






 






31.7






 






 






3.8






%






 






 






31.5






 






 






3.9






%








Acquisition, divestiture, and financing-related expenses






 






-






 






 






0.0






%






 






 






-






 






 






0.0






%






 






 






1.7






 






 






0.2






%






 






 






1.0






 






 






0.1






%








Restructuring charges






 






0.3






 






 






0.1






%






 






 






0.9






 






 






0.5






%






 






 






1.6






 






 






0.2






%






 






 






5.3






 






 






0.7






%








Officer transition costs






 






0.7






 






 






0.3






%






 






 






0.5






 






 






0.3






%






 






 






1.4






 






 






0.2






%






 






 






1.9






 






 






0.2






%








Goodwill Impairment






 






-






 






 






0.0






%






 






 






-






 






 






0.0






%






 






 






25.9






 






 






3.1






%






 






 






-






 






 






0.0






%








Other






 






0.3






 






 






0.1






%






 






 






1.2






 






 






0.7






%






 






 






0.9






 






 






0.1






%






 






 






1.3






 






 






0.2






%








Non-GAAP adjusted operating income






$






34.6






 






 






16.4






%






 






$






23.8






 






 






13.3






%






 






$






129.2






 






 






15.4






%






 






$






122.8






 






 






15.2






%








GAAP operating margin






 






12.2






%






 






 






 






 






7.4






%






 






 






 






 






7.9






%






 






 






 






 






10.2






%






 






 








Non-GAAP adjusted operating margin






 






16.4






%






 






 






 






 






13.3






%






 






 






 






 






15.4






%






 






 






 






 






15.2






%






 






 








Net sales






$






210.7






 






 






 






 






$






179.5






 






 






 






 






$






839.0






 






 






 






 






$






805.9






 






 






 









Non-GAAP Adjusted EBITDA & Non-GAAP Adjusted EBITDA Margin RECONCILIATION








(In millions)








(Unaudited)







 



 






For the Three Months Ended






 






For the Year Ended








 






January 03,

2026






 






Margin






 






December 28,

2024






Margin






 






January 03,

2026






Margin






 






December 28,

2024






Margin








Net income






$






19.5






 






 






9.3






%






 






$






4.8






 






2.7






%






 






$






48.4






 






5.8






%






 






$






39.0






 






4.8






%








Interest expense, net






 






0.6






 






 






0.3






%






 






 






8.1






 






4.5






%






 






 






21.9






 






2.6






%






 






 






33.8






 






4.2






%








Income tax provision






 






5.7






 






 






2.7






%






 






 






2.8






 






1.6






%






 






 






14.0






 






1.7






%






 






 






11.5






 






1.4






%








Depreciation and amortization






 






15.2






 






 






7.2






%






 






 






16.0






 






8.9






%






 






 






63.0






 






7.5






%






 






 






63.8






 






7.9






%








EBITDA






 






41.0






 






 






19.5






%






 






 






31.7






 






17.7






%






 






 






147.3






 






17.6






%






 






 






148.1






 






18.4






%








Acquisition, divestiture, and financing-related expenses






 






-






 






 






0.0






%






 






 






-






 






0.0






%






 






 






1.7






 






0.2






%






 






 






1.0






 






0.1






%








Restructuring charges






 






0.2






 






 






0.1






%






 






 






0.9






 






0.5






%






 






 






1.6






 






0.2






%






 






 






5.3






 






0.7






%








Officer transition costs






 






0.7






 






 






0.3






%






 






 






0.5






 






0.3






%






 






 






1.4






 






0.2






%






 






 






1.9






 






0.2






%








Goodwill Impairment






 






-






 






 






0.0






%






 






 






-






 






0.0






%






 






 






25.9






 






3.1






%






 






 






-






 






0.0






%








(Gain) on sale of business - Net of CTA loss






 






-






 






 






0.0






%






 






 






-






 






0.0






%






 






 






(18.8






)






-2.2






%






 






 






-






 






0.0






%








Forward contract losses






 






-






 






 






0.0






%






 






 






-






 






0.0






%






 






 






0.5






 






0.1






%






 






 






-






 






0.0






%








Change in fair value of contingent consideration






 






-






 






 






0.0






%






 






 






0.4






 






0.2






%






 






 






-






 






0.0






%






 






 






0.4






 






0.0






%








Other






 






0.4






 






 






0.2






%






 






 






(2.4






)






-1.3






%






 






 






1.1






 






0.1






%






 






 






(2.2






)






-0.3






%








Adjusted EBITDA






$






42.3






 






 






20.1






%






 






$






31.2






 






17.4






%






 






$






160.7






 






19.2






%






 






$






154.5






 






19.2






%








GAAP net income margin






 






9.3






%






 






 






 






2.7






%






 






 






 






5.8






%






 






 






 






4.8






%






 








EBITDA margin






 






19.5






%






 






 






 






17.7






%






 






 






 






17.6






%






 






 






 






18.4






%






 








Adjusted EBITDA margin






 






20.1






%






 






 






 






17.4






%






 






 






 






19.2






%






 






 






 






19.2






%






 








Net sales






$






210.7






 






 






 






$






179.5






 






 






 






$






839.0






 






 






 






$






805.9






 






 









HELIOS TECHNOLOGIES








Non-GAAP Adjusted Net Income & Non-GAAP Adjusted Net Income Per Diluted Share RECONCILIATION








(In millions)








(Unaudited)







 



 






For the Three Months Ended






 






 






For the Year Ended






 








 






January 03,

2026






 






Per Diluted

Share






 






 






December 28,

2024






 






Per Diluted

Share






 






 






January 03,

2026






 






Per Diluted

Share*






 






 






December 28,

2024






 






Per Diluted

Share






 








GAAP net income






$






19.5






 






$






0.58






 






 






$






4.8






 






$






0.14






 






 






$






48.4






 






$






1.45






 






 






$






39.0






 






$






1.17






 








Amortization of intangible assets






 






8.2






 






 






0.25






 






 






 






8.4






 






 






0.25






 






 






 






34.0






 






 






1.02






 






 






 






33.1






 






 






0.99






 








Acquisition, divestiture, and financing-related expenses






 






-






 






 






-






 






 






 






-






 






 






-






 






 






 






1.7






 






 






0.05






 






 






 






1.0






 






 






0.03






 








Restructuring charges






 






0.2






 






 






0.01






 






 






 






0.9






 






 






0.03






 






 






 






1.6






 






 






0.05






 






 






 






5.3






 






 






0.16






 








Officer transition costs






 






0.7






 






 






0.02






 






 






 






0.5






 






 






0.01






 






 






 






1.4






 






 






0.04






 






 






 






1.9






 






 






0.06






 








Goodwill Impairment






 






-






 






 






-






 






 






 






-






 






 






-






 






 






 






25.9






 






 






0.78






 






 






 






-






 






 






-






 








Change in fair value of contingent consideration






 






-






 






 






-






 






 






 






0.4






 






 






0.01






 






 






 






-






 






 






-






 






 






 






0.4






 






 






0.01






 








(Gain) on sale of business, Net of CTA loss






 






-






 






 






-






 






 






 






-






 






 






-






 






 






 






(18.8






)






 






(0.56






)






 






 






-






 






 






-






 








Forward contract losses






 






-






 






 






-






 






 






 






-






 






 






-






 






 






 






0.5






 






 






0.01






 






 






 






-






 






 






-






 








Other






 






0.4






 






 






0.01






 






 






 






(2.4






)






 






(0.07






)






 






 






0.9






 






 






0.03






 






 






 






(2.2






)






 






(0.07






)








Tax effect of above






 






(2.1






)






 






(0.06






)






 






 






(1.7






)






 






(0.05






)






 






 






(10.4






)






 






(0.31






)






 






 






(8.8






)






 






(0.26






)








Non-GAAP Adjusted net income






$






26.9






 






$






0.81






 






 






$






10.9






 






$






0.33






 






 






$






85.3






 






$






2.56






 






 






$






69.7






 






$






2.10






 








GAAP net income per diluted share






$






0.58






 






 






 






 






$






0.14






 






 






 






 






$






1.45






 






 






 






 






$






1.17






 






 






 








Non-GAAP Adjusted net income per diluted share






$






0.81






 






 






 






 






$






0.33






 






 






 






 






$






2.56






 






 






 






 






$






2.10






 






 






 







 






















 



*General note: items may not sum or recalculate due to rounding









HELIOS TECHNOLOGIES








Pro Forma Non-GAAP Net Sales Growth RECONCILIATION








(In millions)








(Unaudited)







 



 






For the Three Months Ended






 






 






For the Year Ended






 








 






January 3, 2026






 






 






January 3, 2026






 








 






Hydraulics






 






 






Electronics






 






 






Consolidated






 






 






Hydraulics






 






 






Electronics






 






 






Consolidated






 








Net Sales






$






132.1






 






 






$






78.6






 






 






$






210.7






 






 






$






540.8






 






 






$






298.2






 






 






$






839.0






 








Less: Divestiture of CFP






 






-






 






 






 






-






 






 






 






-






 






 






 






(46.7






)






 






 






-






 






 






 






(46.7






)








Pro Forma Net Sales






$






132.1






 






 






$






78.6






 






 






$






210.7






 






 






$






494.1






 






 






$






298.2






 






 






$






792.3






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Net Sales growth






 






12.4






 






 






 






18.8






 






 






 






31.2






 






 






 






3.6






 






 






 






29.5






 






 






 






33.1






 








% Change y/y






 






10






%






 






 






31






%






 






 






17






%






 






 






1






%






 






 






11






%






 






 






4






%








Pro Forma Net Sales growth






 






28.0






 






 






 






18.8






 






 






 






46.8






 






 






 






17.9






 






 






 






29.5






 






 






 






47.4






 








% Change y/y






 






27






%






 






 






31






%






 






 






29






%






 






 






4






%






 






 






11






%






 






 






6






%








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






For the Three Months Ended






 






 






For the Year Ended






 








 






December 28, 2024






 






 






December 28, 2024






 








 






Hydraulics






 






 






Electronics






 






 






Consolidated






 






 






Hydraulics






 






 






Electronics






 






 






Consolidated






 








Net Sales






$






119.7






 






 






$






59.8






 






 






$






179.5






 






 






$






537.2






 






 






$






268.7






 






 






$






805.9






 








Less: Divestiture of CFP






 






(15.6






)






 






 






-






 






 






 






(15.6






)






 






 






(61.0






)






 






 






-






 






 






 






(61.0






)








Pro Forma Net Sales






 






104.1






 






 






 






59.8






 






 






 






163.9






 






 






 






476.2






 






 






 






268.7






 






 






 






744.9






 









HELIOS TECHNOLOGIES








Non-GAAP Net Sales Growth RECONCILIATION








(In millions)








(Unaudited)







 



 






For the Three Months Ended






 






 






For the Year Ended






 








 






Hydraulics






 






 






Electronics






 






 






Consolidated






 






 






Hydraulics






 






 






Electronics






 






 






Consolidated






 








Q4 2025 Net Sales






$






132.1






 






 






$






78.6






 






 






$






210.7






 






 






$






540.8






 






 






$






298.2






 






 






$






839.0






 








Impact of foreign currency translation *






 






(3.3






)






 






 






-






 






 






 






(3.3






)






 






 






(4.4






)






 






 






-






 






 






 






(4.4






)








Net Sales in constant currency






$






128.8






 






 






$






78.6






 






 






$






207.4






 






 






$






536.4






 






 






$






298.2






 






 






$






834.6






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Q4 2024 Net Sales






$






119.7






 






 






$






59.8






 






 






$






179.5






 






 






$






537.2






 






 






$






268.7






 






 






$






805.9






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Net Sales growth






 






10






%






 






 






31






%






 






 






17






%






 






 






1






%






 






 






11






%






 






 






4






%








Net Sales growth in constant currency






 






8






%






 






 






31






%






 






 






16






%






 






 






0






%






 






 






11






%






 






 






4






%








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








*The impact from foreign currency translation is calculated by translating current period activity at average prior period exchange rates.









Net Debt-to-Adjusted EBITDA RECONCILIATION








(In millions)








(Unaudited)







 



 






 






As of






 








 






 






January 03,

2026






 








Current portion of long-term non-revolving debt, net






 






 






5.4






 








Revolving lines of credit






 






 






105.5






 








Long-term non-revolving debt, net






 






 






256.2






 








Total debt






 






 






367.1






 








Less: Cash and cash equivalents






 






 






73.0






 








Net debt






 






 






294.1






 








TTM adjusted EBITDA






 






 






160.7






 








Ratio of net debt to TTM adjusted EBITDA






 






 






1.8






 







Non-GAAP Financial Measures and Non-GAAP Forward-looking Financial Measures:

Adjusted operating income, adjusted operating margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, net debt-to-adjusted EBITDA, adjusted net income, adjusted net income per diluted share and sales in constant currency are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Helios believes that providing these specific Non-GAAP figures are important for investors and other readers of Helios financial statements, as they are used as analytical indicators by Helios management to better understand operating performance. These Non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP and should not be considered a substitute for GAAP. Please carefully review the attached Non-GAAP reconciliations to the most directly comparable GAAP measures and the related additional information provided throughout. Because these metrics are Non-GAAP measures and are thus susceptible to varying calculations, these figures, as presented, may not be directly comparable to other similarly titled measures used by other companies. The Company does not provide a reconciliation of forward-looking Non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, adjusted net income and adjusted net income per diluted share disclosed above in our 2025 Outlook, to their comparable GAAP financial measures because it could not do so without unreasonable effort due to the unavailability of the information needed to calculate reconciling items and due to the variability, complexity and limited visibility of the adjusting items that would be excluded from the Non-GAAP financial measures in future periods.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260302164555/en/
Tania Almond

Vice President, Investor Relations and Corporate Communication

(941) 362-1333

tania.almond@HLIO.com
Deborah Pawlowski

Alliance Advisors IR

(716) 843-3908

dpawlowski@allianceadvisors.com


Original: Helios Technologies Reports Fourth Quarter 2025 Sales Growth of 17% with Expanded Profitability While Generating Record Cash Flow