HLIO - Why Helios Technologies Stock Is Down Big Today
2023-08-08 13:51:57 ET
Helios Technologies (NYSE: HLIO) missed earnings estimates for the quarter and lowered full-year guidance. The news hit shares of this unusually volatile industrial stock hard, sending shares down as much as 20% in Tuesday trading.
Helios makes motion control and hydraulics systems for a range of industries, including construction, agriculture, recreation vehicles, marine, and health. The stock has been all over the place over the past five years, at one point down nearly 50% before nearly doubling in 2021.
The most recent quarter was not one to get Wall Street excited again. Helios reported adjusted earnings of $0.81 per share in the quarter, just short of the $0.84-per-share estimate, though revenue of $227.6 million was about $5 million more than what was expected.
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Why Helios Technologies Stock Is Down Big Today