Helios Technologies Inc (HLIO)

Shares of Helios Technologies (HLIO) dropped by 16.68% from $52.82 to $44.01 in the trading on Friday, November 3, 2023. The reason why HLIO down is due to the company's disappointing quarterly earnings report.

• Earnings Missed Expectations: Helios Technologies reported earnings of $0.44 per share for the quarter, missing the Zacks Consensus Estimate of $0.73 per share. This marked a decline from the $0.90 per share earned in the same period the previous year, adjusted for non-recurring items. The earnings miss amounted to a substantial -39.73% surprise.
• Revenue Fell Short: In addition to the earnings disappointment, Helios Technologies posted quarterly revenues of $201.4 million, falling short of the Zacks Consensus Estimate by 8.50%. This also represented a decline from year-ago revenues of $207.21 million.