Why is Helios Technologies Inc (HLIO) Stock down?

We've noticed a 5.13% decline in Helios Technologies Inc (HLIO) stock during the 2024-06-03 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
03 Nov, 2023:

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.
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