Helios Technologies Provides Update on Recovery Efforts from Hurricane Milton
Helios Technologies (NYSE: HLIO) has provided an update on its recovery efforts following Hurricane Milton's direct hit on Sarasota. Two of the company's three Sun Hydraulics manufacturing facilities in Sarasota have reopened just six days after the Category 3 hurricane made landfall. The third facility, which sustained more extensive damage, remains closed as the team works on recovery efforts.
Sean Bagan, Interim President, CEO, and CFO, expressed gratitude for the safety of employees and praised their efforts in assessing and remediating damages. Rick Martich, President of Hydraulics, Americas, highlighted the team's tireless work and support from global Helios businesses. The company is also evaluating potential impacts on regional suppliers, freight carriers, and infrastructure.
Helios plans to provide estimates of Hurricane Milton's effects on its fourth quarter financial projections when it reports its upcoming third quarter 2024 financial results.
Helios Technologies (NYSE: HLIO) ha fornito un aggiornamento sui suoi sforzi di recupero dopo il passaggio diretto dell'uragano Milton su Sarasota. Due delle tre strutture produttive di Sun Hydraulics dell'azienda a Sarasota hanno riaperto solo sei giorni dopo che l'uragano di Categoria 3 ha colpito la costa. La terza struttura, che ha subito danni più significativi, rimane chiusa mentre il team lavora per il recupero.
Sean Bagan, Presidente ad interim, CEO e CFO, ha espresso gratitudine per la sicurezza dei dipendenti e ha elogiato i loro sforzi nel valutare e riparare i danni. Rick Martich, Presidente di Hydraulics per le Americhe, ha sottolineato il lavoro instancabile del team e il supporto delle aziende globali di Helios. L'azienda sta anche valutando i potenziali impatti sui fornitori regionali, sui trasportatori e sulle infrastrutture.
Helios prevede di fornire stime sugli effetti dell'uragano Milton sulle proiezioni finanziarie per il quarto trimestre quando riporterà i risultati finanziari del terzo trimestre 2024.
Helios Technologies (NYSE: HLIO) ha proporcionado una actualización sobre sus esfuerzos de recuperación tras el impacto directo del huracán Milton en Sarasota. Dos de las tres instalaciones de fabricación de Sun Hydraulics de la empresa en Sarasota han reabierto solo seis días después de que el huracán de Categoría 3 tocara tierra. La tercera instalación, que sufrió daños más extensos, permanece cerrada mientras el equipo trabaja en los esfuerzos de recuperación.
Sean Bagan, Presidente interino, CEO y CFO, expresó su agradecimiento por la seguridad de los empleados y elogió sus esfuerzos para evaluar y remediar los daños. Rick Martich, Presidente de Hidráulica para las Américas, destacó el trabajo incansable del equipo y el apoyo de las empresas globales de Helios. La compañía también está evaluando los posibles impactos en los proveedores regionales, transportistas y la infraestructura.
Helios planea proporcionar estimaciones de los efectos del huracán Milton en sus proyecciones financieras del cuarto trimestre cuando informe sus resultados financieros del tercer trimestre de 2024.
Helios Technologies (NYSE: HLIO)는 허리케인 밀턴이 사라소타에 직접 타격을 준 이후 회복 노력에 대한 업데이트를 제공했습니다. 회사가 운영하는 세 개의 Sun Hydraulics 제조 시설 중 두 개가 사라소타에서 재개장했습니다, 카테고리 3 허리케인이 육지에 상륙한 지 단 6일 만에 이루어진 것입니다. 세 번째 시설은 더 심각한 피해를 입었으며, 팀이 회복 작업을 진행 중인 상태로 폐쇄된 상태입니다.
대행 사장 겸 CEO, CFO인 Sean Bagan은 직원들의 안전에 감사의 뜻을 전하며, 피해를 평가하고 복구하는 데 기여한 그들의 노력을 칭찬했습니다. 북미 수력 사업부의 Rick Martich 사장은 팀의 지치지 않는 노력과 Helios의 글로벌 비즈니스 지원에 대해 강조했습니다. 회사는 지역 공급업체, 화물 운송업체 및 인프라에 대한 잠재적 영향도 평가하고 있습니다.
Helios는 2024년 3분기 재무 결과를 발표할 때 허리케인 밀턴의 영향을 4분기 재무 전망에 대한 추정치로 제공할 계획입니다.
Helios Technologies (NYSE: HLIO) a fourni une mise à jour sur ses efforts de récupération suite au passage direct de l'ouragan Milton sur Sarasota. Deux des trois installations de fabrication de Sun Hydraulics de l'entreprise à Sarasota ont rouvert seulement six jours après que l'ouragan de catégorie 3 a touché terre. La troisième installation, qui a subi des dommages plus importants, reste fermée pendant que l'équipe travaille sur les efforts de récupération.
Sean Bagan, Président par intérim, PDG et CFO, a exprimé sa gratitude pour la sécurité des employés et a salué leurs efforts pour évaluer et remédier aux dommages. Rick Martich, Président des Hydraulics pour les Amériques, a souligné le travail acharné de l'équipe et le soutien des entreprises mondiales d'Helios. L'entreprise évalue également les impacts potentiels sur les fournisseurs régionaux, les transporteurs de fret et l'infrastructure.
Helios prévoit de fournir des estimations des effets de l'ouragan Milton sur ses prévisions financières du quatrième trimestre lors de la publication de ses résultats financiers du troisième trimestre 2024.
Helios Technologies (NYSE: HLIO) hat ein Update zu seinen Wiederherstellungsbemühungen nach dem direkten Einschlag des Hurrikans Milton in Sarasota bereitgestellt. Zwei der drei Produktionsstätten von Sun Hydraulics des Unternehmens in Sarasota haben nur sechs Tage nach dem Landfall des Hurrikans der Kategorie 3 wieder geöffnet. Die dritte Anlage, die umfangreichere Schäden erlitten hat, bleibt geschlossen, während das Team an den Wiederherstellungsarbeiten arbeitet.
Sean Bagan, Interim-Präsident, CEO und CFO, drückte seine Dankbarkeit für die Sicherheit der Mitarbeiter aus und lobte ihre Bemühungen, die Schäden zu bewerten und zu beheben. Rick Martich, Präsident von Hydraulics für die Amerikas, hob die unermüdliche Arbeit des Teams und die Unterstützung durch die globalen Helios-Geschäfte hervor. Das Unternehmen bewertet auch die möglichen Auswirkungen auf regionale Lieferanten, Frachtanbieter und die Infrastruktur.
Helios plant, die Auswirkungen von Hurrikan Milton auf seine finanziellen Prognosen für das vierte Quartal bekannt zu geben, wenn es seine bevorstehenden Ergebnisse für das dritte Quartal 2024 veröffentlicht.
- Two out of three Sun Hydraulics manufacturing facilities in Sarasota reopened within six days after the hurricane
- No reported injuries or loss of life among Helios employees
- One manufacturing facility remains closed due to extensive damage
- Potential impacts on regional suppliers, freight carriers, and infrastructure disruption
- Possible effects on fourth quarter financial projections
Insights
The reopening of two out of three Sun Hydraulics' manufacturing facilities in Sarasota just six days after a Category 3 hurricane is an impressive feat, demonstrating strong disaster recovery capabilities. However, the third facility's more extensive damage and ongoing assessment of supply chain impacts suggest potential production constraints in the near term.
Key points to consider:
- Rapid reopening of two facilities indicates robust business continuity planning
- Delayed reopening of the third facility may impact full production capacity
- Potential supply chain disruptions from regional suppliers and freight carriers could further affect operations
- The company's ability to quickly assess and communicate the situation is positive for stakeholder confidence
While the swift recovery is commendable, investors should watch for the upcoming Q3 2024 results and Q4 projections to gauge the financial impact of the hurricane. The company's resilience is evident, but the full extent of the disruption remains uncertain until all facilities are operational and supply chain impacts are fully assessed.
“I am so grateful that we did not have any reported injuries or loss of life within our team, as
“We will not have our full capacity online until we reopen our third facility, which sustained more extensive damages. The team is working diligently to fully recover. We are also assessing any hurricane impacts from regional suppliers, freight carriers, and infrastructure disruption. I am incredibly proud of how our local Sun Hydraulics team worked tirelessly, with support from our global Helios businesses, as we recover from this weather-driven disaster. It is a testament to the incredible people that we have in our organization and the shared values that we all live by every day,” said Rick Martich, President of Hydraulics,
The Company plans to provide its estimates of the effects of Hurricane Milton on its fourth quarter financial projections when it reports its upcoming third quarter 2024 financial results.
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 acquisition. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241014591340/en/
Investor and Media contacts:
Tania Almond
Vice President, Investor Relations and Corporate Communication
(941) 362-1333
tania.almond@HLIO.com
Deborah Pawlowski
Kei Advisors LLC
(716) 843-3908
dpawlowski@keiadvisors.com
Source: Helios Technologies, Inc.
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