Why Are Helios (HLIO) Shares Soaring Today
Shares of motion control and electronic systems manufacturer Helios Technologies (NYSE:HLIO) jumped 20.8% in the morning session after the company posted solid fourth-quarter results, with revenue narrowly exceeding analysts' expectations. But sales fell 7% from last year, hurt by a 10% drop in its hydraulics unit due to soft demand in agriculture and industrial markets. Despite the revenue decline, gross margins improved through lower material costs and operational efficiencies, helping to offs