Helios Technologies, Inc. (NYSE: Hlio) has provided a preliminary update on its status following the impact of Hurricane Milton. The company's immediate concern is for the safety and well-being of its colleagues, their families, and the residents of the affected communities.
Sarasota, which is home to Helios' worldwide corporate headquarters and its operating company Sun Hydraulics, was directly hit by the hurricane. The company is currently assessing the extent of the damage and disruption at its Florida facilities and working to determine the physical impact of the storm on its manufacturing operations.
The company has engaged with its insurance partners to minimize the financial impact from any physical losses sustained. The objective is to have the affected locations up and running again as quickly as possible.
As more information becomes available, Helios plans to provide further updates and estimates of the effects of Hurricane Milton on its financial results and operations.
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for various end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, and health and wellness. The company sells its products to customers in over 90 countries around the world.
Helios Technologies has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. Today the company's shares have moved 2.6% to a price of $48.38. For the full picture, make sure to review Helios Technologies's 8-K report.