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HLIO

Helios Technologies

$39.99 /

+1.18 (+3.04%)

17:38
03/24/20
03/24
17:38
03/24/20
17:38

Helios Technologies withdraws 2020 guidance due to COVID-19

Helios Technologies provided a business update surrounding the COVID-19 pandemic and resulting uncertainty. Broad measures taken by governments, businesses and others to limit the spread of the virus are adversely affecting the company and its customers. Helios's global locations and production facilities remain fully operational at this time with the exception of the company's Faster facility in Italy. Government mandates in that country will require the temporary closure of the company's manufacturing location, which was and will remain open through March 25th for warehousing and shipping only. Effective March 26th, it will temporarily close until April 3rd, pursuant to the current mandate. Italian-based employees whose positions are amenable to remote work will continue to work from their homes and will continue to provide support to our customers. Helios is pleased to report that risk mitigation efforts undertaken in China have resulted in the successful reopening of its operations there. As a result of the evolving economic impact of COVID-19, the company believes that its 2020 financial results will be impacted, especially beginning in the second quarter, but the magnitude and duration of the impact is uncertain. In addition, production at any of its facilities may be further impacted as a result of possible future government, market or company actions due to COVID-19. For these reasons, Helios is withdrawing its 2020 guidance. The company plans to provide an update when it announces its first quarter results, currently scheduled for May 4, 2020.

HLIO Helios Technologies
$39.99 /

+1.18 (+3.04%)

03/23/20 Morgan Stanley
Morgan Stanley cuts Multi-Industry estimates, shakes up ratings with 7 changes
03/23/20 Morgan Stanley
Helios Technologies downgraded to Underweight from Equal Weight at Morgan Stanley
12/17/19 SunTrust
Helios Technologies initiated with a Hold at SunTrust
12/17/19 SunTrust
Helios Technologies initiated with a Hold at SunTrust

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