Helios Technology slumps on downbeat forecast

Helios Technologies

08/08/2023 15:52

** Industrial valve manufacturing company Helios
Technologies'  HLIO.N  shares down 22.2% at $48.50
    ** Company on Monday cut FY23 revenue estimates
    ** Helios now expects full-year revenue to be in the range
of $880 mln-$900 mln, lower than its previous forecast of $910
mln-$940 mln
    ** Analysts expect revenue of $910.03 mln for 2023 -
Refinitiv
    ** Q2 net sales down 6% at $227.6 mln
    ** Including session moves, shares down 20.2% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))