HLIO - Earnings call transcript Q3 2021 | Helios Technologies, Inc.

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Operator

Greetings. Welcome to Helios Technologies Third Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded. the Relations. to turn President Almond, now Investor of will conference Tania over Vice I you begin. you, Thank may

Tania Almond

Thank you, conference operator, the a Helios and release good day third press XXXX everyone. quarter financial morning. results this call. issued Technologies We Welcome to

have If is available hlio.com. release, on you that it website our do at not

that You there our today. will will also find conversation accompany slides

accelerating with you questions. two, the will If spend minutes and goals, open our our of we On Executive Slide Officer; to Chief will our growth the President Chief Officer. for find results, updating our progress our Financial then your and discussing line turn several with rest our Matosevic, me the outlook They the Safe quarter third will to call Tricia reviewing statement. are Fulton, next Josef our and XXXX Harbor

the you statements forward-looking uncertainties Q&A future make risks factors subject be during results our during today. aware, other and These to are to this from events statements As we uncertainties where and filed risks Commission. we the These will will other also actual could be with to to be well as apply are Exchange provided factors session. cause XX-Q and differ in materially some may that Securities and that as presentation and

believe that we find can which call, today’s during we out useful sec.gov. these financial will our point measures, performance. You documents some also on at our in or I’ll discuss non-GAAP evaluating website are

GAAP. information for prepared as substitute not consider results in this the with isolation accordance should presentation or additional You of in a

with turn it’s accompany non-GAAP over measures Josef. the today’s now GAAP my We have slides. the in with to provided tables reconciliations call to pleasure comparable that that, And of

Josef Matosevic

our day thank everyone. to summarize three and quarter. you good and for the I will Please highlights Slide Tania, turn

execution the our growth customers delivered markets of growth core expanding new culture constraints customers accountability the integrity, passionate this the on share of business for as that current diversifying day our our supply Our challenges with and creativity. direct quarter winning We leverage we result our is believe in agility across head line this Helios and team shared the augmented with again leadership, by a and values we strategy strong market serve. we of each and address and material is outside made our our innovation. we possible values team Every by inclusion, instilled costs flexibility, chain of

everyone with We challenges. are not constraints immune logistical the transportation is facing to

partnering our prioritizing new We tier are by with our identifying timely maintain suppliers and sources needs to and complete lead constantly customer’s orders top to meet times. our

diversified this stayed across across of we We markets, all continue customer’s deliver. share operational as Back, the new we bolstered received. have customers have strong This products introduced as due implemented to our remains pressures all optimizing in to well new businesses to been growth our to realized. well had know was and markets the by organic in XX% market we our important and demand all audited responsiveness strategies manufacturing take pricing to through have multiple of reflecting our cover flexibility we our efficiencies inflationary is been our of focused quarter, It robust and winning to the on demand that needs. believe

design new manufacturing and Additionally, vehicle we in electric important recently won an the space. customer

example in over win new displays multiyear a of a customer a This We provide will edge-to-edge perfect diversified market. a period. is electric control

our we this As our quarter last about acquisition you call. NEM on integrating spoke been know, have we that

electrohydraulic very see are nicely best product approach excited feeling portfolio our and out products how We good, their our about we better in offerings.

the through into early year market combined next bringing start the end to offerings expect year. this this to of quickly relatively We

steady cash providing two we our targeted getting once quarter, help powder this back for And supply Joyonway of as of chain. be the well the continues increase and a Due complements most performance, standard our this full demand efficiencies, are while Helios the in effect. and the to acquisition that serve for leverage pipeline we XXXX environment balance better of after our as effectiveness in the quarter, segment our strengthen strategy. continue electronics capacity a will strong team's of another manufacturing Because Balboa a the our our NEM to quickly are acquisition our Joyonway control remain to of our acquisition raising from supply our like our loan that multiplier into and generation year that to to addition region, I very the an fits work strong markets, and strategy. metric, us region quarter dry in excellent even strength backdrop is They our times delivered of the our should system example and manufacturing again third sheet business with robust. unusual margins have of achieving excellent the ideal our of within Asia, chain. we we examples Both non-GAAP platform again closed business advancing Just rapidly the acquisition, cash able assets reach add our Flywheel outlook in holding expand strong operating Joyonway. EPS create revenue are further glove,

are our up are encouraged we and solid well. hearing as sets a from for customers believe this by what XXXX us We

the to five of over some and slide pass details. on then highlights review four it financial for and more Tricia me Let

Our from quarter million, increased million sales second over sales XX% $XXX to net including $XX acquisitions. in

of EPS point at more last basis than margin last XX.X%, acquisitions. year. several addition XXX strength cash remained excellent recovery, EBITDA economic over was to a growth Our top year, and of reflecting the double the ability of Non-GAAP over XXX greater expansion this tier the share was our a adjusted capture

now of unusual the the call conditions key through to review team Helios over outlook be Tricia absolute dedication and the Tricia? financial a detail. to to in probably our will could most Our bit little operating all not the is and success, I results and careers. of proud more turn of fortitude I our

Tricia Fulton

seven, day good On Slide review everyone. and consolidated Josef third you quarter I our six and Thank results. will

As by we Josef our supported growth lead and operations delivery efficiently. times in outstanding focus on delivered and third outperformed our noted, managing quarter

sales our expand to markets existing robust. our continue channels remain end while We

We plans Net recent take as prior are our focused period, our over of on market executing the again. acquisition grew our Flywheel share. continue acquisition and Balboa expectations XX% executed year to transformative we growth and our strategy most exceeded sales

XX% we strong As Josef organic mentioned, growth the delivered very quarter. during

was XX.X% year-over-year margin and volumes. million XX% by difference or increased Third was very million quarter the period Gross prior a the $XX.X healthy impacted margin profit over year $XX gross from sales, of leverage Balboa’s higher captured increases manufacturing profiles. were costs efficiencies, fixed on and from higher and Throughout logistics in improved raw our by costs. offset based which material the we quarter, over

discipline implement take a strong quarter demand over also we better period to and carefully helping business door. managing and multiple extreme it's input done and the the to XX.X% performance out and product cash need acquisition. Maintaining well, to Adjusted in improved us pricing market the Non-GAAP margin have period, get to agility to performing flexibility continue basis all prior reflecting our cost $X.XX EPS strategies, than costs. the competitive advantage the share. ago, higher the constant year management has points been of to third XXX across higher overcome operations a is year the reflecting do efforts. same $X.XX Balboa reprioritization the industries, grew Manufacturing from while We expected given our EBITDA volumes for of and

year Our Australia. of Italy, effective the quarter Please in compared reduction turn and Slide due incentives, the for available higher Hydraulic a and such as tax jurisdictions to prior increased tax eight XX.X% was XX.X% rates in period, results. in quarter third segment earnings operating tax third Germany our review in to to

the point Hydraulics of by million, higher from operating manufacturing million higher leverage $XX.X based XXX%. reflects Americas from and sales, profits Third our segment The Electronic up expansion were of exchange in a margin EMEA. year as $XX.X mix. X in costs gross volumes as end million improved points on on most quarter XX%. markets, on the reflecting the period growth strategy. ago organic the quarter efficiencies was increase this manufacturing impact to strong slide basis to driven our demand fixed our from XXX operating of basis XX%. benefited higher sales review while period, increased in was very included segment up over primarily sales well turn for execution million hydraulic year currency annual segment XX.X% sales and Annual to rates. year Sales nine prior growth XXX volumes foreign this in Annual compared QX were from leverage operating third XX.X% prior growth organic an results. positive with Electronic disciplined the Please margin benefited our and $XXX broad of period, in showing XX%

We quarter. to the third $XX electronic chain are the wellness Acquisitions strong in contributed demand sales markets in markets. limits the our for seeing Supply & constraints and recreational both health in from quarter. end million revenue its segment

classified Next quarter organic we will growth into Balboa acquiring categories. it since our will and year be observe one

the up profile in Balboa’s quarter to the flow. prior mix from gained gross increased Balboa volume. a $X.X to points. third XX.X% be for the from and profit improved with the customer of volume resulting our the as higher Operating gross year to of cash the with very $XX.X The Cash $XX.X was third and QX reflects primarily for operating XX $XX.X of brought quarter acquisition income chain continue basis favorable from Electronics segment business. with the was of acquisition, impact prior million period, demand. well as to has turn review the million reflects Electronics million to was our acquisition business. the We the million leverage in margin supply by costs Slide operating excited compared margin segment in this profile of different challenges period. million potential in XXX and margin meet strong increased related $XX.X organic higher electronic margin operating operations Please XXXX and in year

We deliveries are balancing our demand working timely to carefully shortages. significant amidst to our material requirements provide efforts and customers with our capital

$XX XXXX to is million $X.X between third CapEx timing of $XX the million the of in was $XX range for expected million million CapEx due to our $X.X quarter, million. from the up to year down quarter to For flow This to of the this flow $XX quarter, will conversion from a XX% million range full is of a when trailing rate available. third the basis, cash at year-over-year be certain On of increase be capital Free expenditures an end of strong was cash the equating XXX%. free investments our a XXXX. in will million XX-months $XX.X from XXXX.

our pursue acquisition further are confident strategy. to Flywheel we significant We have financial flexibility

XX, sheet. Regarding our Slide deliver rapidly capital structure our on balance continue we to

quarter, the hit three target of we from at forma leverage end. range pro was This times of quarter million debt This our end EBITDA XXXX. at $XXX Total the two of times. improved debt-to-adjusted net

We also our $XXX with available million. $XXX total liquidity of on have lines million of revolving credit

strategy disciplined the increase to that As down. leverage quickly financial to a is reminder, for pay then cash and generate our acquisitions

Our products shareholders. capital acquisitive and through priorities to technologies, new growth growth remain reduction, debt organic and distributions

next join we of our dividend years companies straight. an for elite with public fact, In dividends paid group that to plan XX have payments,

for Now, let’s turn the and outlook our I discuss XXXX. rest XX of Slide will

currency using pandemic. XXXX are rates, the the our well Our further as by impacted and constant markets as assumes for not that global assumption guidance quarter

revenue quarter, this million outlook approximately of growth of the outperformance range. our are million, an we midpoint the of our which for annual XXXX implies $XXX result range $XXX XX% to of raising rate at a to the As

steady EBITDA adjusted margin outlooks holding are at XX.X%. XX.X% We to

in to or raising million the costs. to headwinds manufacturing stronger at $XXX our the rising growth midpoint a annual we million range. We of to our material leverage expectation adjusted continue implies range EBITDA quarter the XX% rate efficiencies are the for to of due offset fourth This dollars, $XXX

The term. related improvement guidance, to we reflecting our year. invest as Additionally, well and reap are the Relative the the lines. margin margin as of inventory, remainder the over non-CapEx continue of long inflated into as our to of items we supplies and balancing obtaining production the parts to in we build through through staffing challenges rewards material continuing costs freight manufacturing strategy difficulties and even

to rates. million, expense are levels $XX is XXXX million in current remains our at $XX tax and tightening expected while million to at for be effective $XX We of XX% expected XX%. range million outlook interest borrowing the to million $XX $XX amortization to million. rate between to Depreciation now $XX unchanged is and The approximately outlook to

XXXX XX% a the between of for increase our to have continue demand to in share, We end outlook XXXX. EPS driven market at to or by are raising of $X.XX this remainder strong throughout midpoint range. per over expect the far guidance cash the we increase our year year, $X.XX is non-GAAP the and so The prior the

We supply chain, we cost far base expect that The leverage of our our that, year material the indication within. and headwinds can strong and into our to environment unusual on some back logistics. even spread in ourselves given ranges we this operating margins fixed all turn will the With maintain is I the the an the highly comments. final find Josef for call costs

Josef Matosevic

Tricia. times. fascinating you, This is Thank certainly

demand. exceptional while also demand meet for have We very to having products be agile the our to

that, forward. remain for please. excited Our up about team has are how open super the proven With up lines we future the and and challenge we we Q&A shaping are our let's driving to

Operator

Nathan is Stifel. Please Jones [Operator instructions] first Our with proceed. question from

Adam Farley

Adam Good morning, this Nathan. for is Farley on

Tricia Fulton

Adam. Morning

Adam Farley

your guys been and this have as out call could more share of the a opportunities far? that on share you call. times a so the opportunities Hey, to really gain strong what leading times color little couple gain lead you bit on well? provide called you Is So

Tricia Fulton

hydraulic can't we I market that we've say, satisfy competitors. had electronic from a have your Yes, long gain we've we've is hey customer. the really the a need this seen but a But, many than over related, of through part we one to in little it's harder hydraulics. chain customers In cases, and cases, able us share those the one-off, And side. hydraulics supply electronic maybe of And coming lot it's lead term hitting space been months, individual some a share. And an out of to few where reach of a strong seen us. a little that's in lot think believe able for opportunities less basis get the the to take for a that our and times we've because market side, on gain been that had last bit perspective, I the bit from maintain we've side on share on

Josef Matosevic

other council week Tricia had who the supplying. previous point meeting have we Sarasota. we the purchase And and from a distribution gotten that did would just and then the kind parent that feedback probably confirms in be just what our here from are or And distributors we ago customers with of us data that not were that about said, the there now

are So those the two key drivers.

Adam Farley

any any Okay. And system ordering double trying on customers do going with you the secure think there's to inventory? in

Tricia Fulton

is double any have don't issues everyone's just supply understanding they and to now indication and the We quickly, logistics need they right that as get of we chain what but need, what trying an mean, see indication ordering. there any No. don't I get

Adam Farley

for Thanks Okay. my taking questions.

Tricia Fulton

you. Thank

Operator

Dobre Our next question Mig is Please from with proceed. Baird.

Mig Dobre

context, done how revenue. of well And little as in environment. sort for more of curious running in relative Thank is orders your I'm looking Josef in operating I'm morning. a a where maybe you. tenure guess businesses, to demand are two to I well, Good difficult the

not production So order you're to what given OEM you also any how customer relative XXXX? as the in lower on curious, are impact they're amount you reported planning fourth a quarter, in of customers their seeing, disruption is And you into the impact revenues. or that just demand? intake hearing your higher out quarter really from as seen own Have but there. far negative What for I'm

Josef Matosevic

morning, Good for the Thanks Yes. comment. Mig.

consistent order pattern first down, your terms fluctuated been up of It and of hasn't segments, and electronics. in businesses. very all really hydraulic throughout question both our has So our

a quite where then And you you and back see balanced down. go calls and spike up, to earlier. few always periods get it's a be shipped time You then of can actually

signed, single of so this closely And stuff. order when guidance, the pass of strong And day optimism hasn't every second our that type to that is terms fluctuation there certain a of look now, there's been we've very get or is, level infrastructure And with cyclicality. at is will and and really you optimism in But areas. be no obviously pattern, changed question that built and your there in we we obviously, peaked. factored

going stay super very hearing we should is How careful. meet are the are We we're is consistently is demand, what robust. to just demand there

our OEM We are this and working The partners out a very that close partners to schedule a fulfill stable. can distribution demand with really level is basis. schedule on we timely

with think I of are areas. very kind in chain the optics to certain this Mig. are supply carefully of But say. have of balanced challenges scene, we just this We towards seeing we we, where the kind some so And

Mig Dobre

volumes point, Okay. Pacific, both revenues relative The Maybe thing heard surprised that's EMEA, OEM looking that down fairly EMEA business are hydraulics has and there. in China finer and for to been And, ag where In that to business. we've me you a at in basically are customers. third looking faster disruption there slowed equipment the second. the consistent -- has at I lower the know quarter have, your here put sequentially Asia certainly

one having has outright think talked for them shutdowns about their planned European of I operations.

ag So are geographies? China in hydraulics your seeing then demand EMEA specifically, for progression business? these what for and in the you of customers implicitly your, your two

Josef Matosevic

can Yes, in Tricia well. as piece China chime and and

and a but of our not electronics pillars manufacturer approach year the components just system more factory, as a solution ago we strategic just components, well. to of all region, really have I piece, niche really one China stay our Asia. market helps strategy in in us being in region the think the On what true what make for the a, a a was of concern have hydraulic to But our ship we where

helped have local supply chain from we just component a EMEA, with than and in more Germany, the you were And region Spain, approach turn a capabilities impact seen systems and, strong In very able it's Asia an local interruptions. no in and it, that, in of have manufacturing. approach. cell us we demand, U.K., if name Italy, to So promising

to We cost and increases, as then period, offsetting and happen, But OEMs. labor to and, and, really that we we in went Soto's can. bought a in increases, flexibility of protect price material are European bit lot also would us and we of seeing successful headwinds a On flex that thought as through. manufacturing, guys but are we up terms working that we down with of the price knew inflationary and quite pre with our we know, were much you as have

So…

Tricia Fulton

Yes, them add markets. just back be the as And from ramping They're to AG is more we strong taking picking what are little growing historically bit then well. up a on couple In China least quickly of QRC the to very it's up strong. APAC, specifics Korean share construction has market a extremely seen speed, which historically. in our seeing And there. business we've led China at very and market

part The Australia. quarter the other APAC a the was is back come in that of mining third little starting later to in

So literally as of that those ramping we because bit back quite we get couldn't to COVID we're a now able up well. customers. where there seen minds And our decline seems to and be business to go a back of had into but the

Mig Dobre

My That's question. helpful. last

detail they've if XX, been XXXX, little EBITDA. right. And curious look I get am at I despite your, on XX, this. more remarkably incremental your XX throughout consistent pricing. margins or mentioned on incremental context we You a can costs,

factors. of a number and call transportation out You other materials

you. carryover XXXX? curious pricing be How you've the steady been So is incremental as to able And to what might deliver Thank I'm how looking? into contribution these margins?

Josef Matosevic

ahead, go Go Tricia, ahead. Yes.

Tricia Fulton

been of off seeing are Start is all times the of picking we're the year. that, to with some helping to Yes, get manufacturing that in strategy that some that really And driving same multiple well. addition time. we the incremental in businesses, throughout us throughout and manufacturing the efficiencies talking are at we've pricing cases as able gain

Mig Dobre

can into on over carry comment And XXXX, that? you

Tricia Fulton

through a went permanent. the of increases as Some price

through to Some specifically related surcharges as of went material them increases.

likely there XXXX. will So in price actions additional there related be some will And just increases. carryover to XXXX into be, general pricing

Mig Dobre

you. Thank

Josef Matosevic

Thank you, Mig.

Operator

KeyBanc with Hammond Jeff from Capital proceed. is question Please next Markets. Our

Jeff Hammond

morning. good Hey,

Josef Matosevic

Good morning, Jeff.

Jeff Hammond

Mig’s you at kind on just building So, question, ship here, either to about think I or just is allowing work your back he had is, that still on to book-to-bill all. of down if asked you're or if ability the backlog fall to

Tricia Fulton

out that demand. And, we at like market side, before missing will we We majority is still very headed do of dollars from where past now past XXXX. really have And electronic on backlog some very backlog. that due where we ship as something. a the else, are we one they end I strong door those, we some are coming everybody large be job have the into them getting right the doing strong of due. have expect But managing our good can. as literally quickly part can A and part shortages, we're the the

as soon testament coming able to market demand. really is a around. backlog as And So are turn we're in, think to I those of it the end the

Jeff Hammond

and Okay, clear. be just then and then to

revenue, you case to in not think you just can how revenue said of quantify much kind if that or lost you the think some you you and maybe slipped was electronics, hydraulics, the I but some in right? had deferred

Tricia Fulton

takes to thirds segments and parts as would everything timely us they Yes is get quarter. these of it what had able freeing the necessarily electronics a one of of door. able say, It revenue, had we the some we of in October. around saw But the hydraulic. about third a some But two it up into parts had and basis. then, of ship the weren't falls deferred get I weeks really saw out parts we actually, this we not last be building to and to once in where it And time, build or shortages, of we it. result we turn on having both the couple

Jeff Hammond

we fourth think is And through and shows pretty is kind margins as has you maybe year. the like know incremental Thanks. Or into seasonal? there's Is particularly there? Okay, then there one of because, quarter, down something last just and model step the something and margins? the the as, we there of revenue same look should consistent again, been on my as getting particularly thing worse more

Tricia Fulton

on that side, related chain to ship to QX seasonality that's everything recognizing with less days it's given coming along shipping of very seeing to in in to QX. EMEA. a or the that cautious some door clearly require holidays going America and due products There's supply that with strong components in Yes, flow specifically the and we're always we've been North

a into don't probably both you would there's bit it's that anything normal read I than need those So little of and other seasonality to I But for that say. think two items supply chain, holidays.

Jeff Hammond

Okay, thanks so much.

Tricia Fulton

Thank you.

Josef Matosevic

you. Thank

Operator

question with next Morgan Stanley. is Josh from proceed. Please Our Pokrzywinski

Joshua Pokrzywinski

Hey, good morning, guys.

Tricia Fulton

Morning, Josh

Joshua Pokrzywinski

gain of can't in in who ground fill mentioned, they their able you think you you guys middle in of you do I that, and kind case like, kind their yourselves customers, where core do sort base, there's like, mean, trying where supply kind like, get you you it Tricia, all of and think I kind imagine wondering they the you're folks that more how some share are supply base? Or be as, historical where maybe between spread just all would of course? normalized I'm just that more your it now evenly own to winning on to sort as see blows with from on were sort going evolving of backup a of those over validate customers suppliers, may of go suspect this you're out application do and forward? supply including of from that. seeking traditional

Josef Matosevic

Yes.

Josh. of couple a So things,

will own we destiny here, knowing our that As invested chain before, should in happen. the and said we constraints supply

we of we didn't capacity, just it strategy work businesses, quicker, but sense, so, capabilities it can process And a flow internally, out, within cost also there's fully competencies them also can much accordingly. flushed manufacture, hand. developed our certain folks had this that more but once much as we our also effective. And our, capability. makers we we not internal here, suppliers, our with key core And hand And acquire only our actually competences, lot new then by in meaning, acquired we through clearly made

a hold each our now and this and all can with and, business we our won each, the are also then times a is that units the But to point and worked diversified going where steady to and our three within them at out we're targeted years. time, and have, us where our market couple process, So to has today strategy, we, demand same very in announced meet very where of combined, next got and in the another we a on become lead a where we position with our of customers five, with six electronics one hydraulics, carry strongly position customers. over

couple we also a in, will, our have back. all not will of do So be as a of terms look, all dependent we in we we years a standpoint, believe cost lead we But before will in three company advantage an as times. structure from as were once

we meeting. to it investor as in Tricia, steps, you the announced want we’ve So add… the have taken proper

Tricia Fulton

No.

you've covered think I it.

Joshua Pokrzywinski

That's it? helpful. Got

Sorry.

Josef Matosevic

go to answered I no, your question. want just ahead. No, sure we make

Joshua Pokrzywinski

to seasonally, really a a of feel how all of on book-to-bill push-outs taking delivery. And did. spend year here, with we're Absolutely just the versus backlog through customer's on the wondering pull-ins going go the pass at step kind Again, a position And kind taking then you sequencing strong through all year, backlog kind and about of guys is as Yes. or how guess, year. seen changed I back you maybe you've layout.

Josef Matosevic

remains look, That's both not that issue. an segments. Yes. been robust pretty our demand I much hasn't of mean in very

shipping focused think exactly the ahead, needs customer pull right on what of we terms are In now. I

So or we have really so had have experience say. don't any or mortgaging of to other quarters,

could of going going XXXX in really debt on look So shape super excited terms how we orders forward, don't we have out. are

very, humble We are very company. by and nature, a conservative

in chain constraints can the a we we that it's as broader. segment, visibility is XXXX. hydraulic visibility the weeks, in mitigate so couple long have electronic supply is our the facing, a segment three our only decent world as And little So, pretty should a

not fill stay So but over delivering by XXXX the pretty and say. backlogs is has trying we're here value nothing under I would segments, to in going disciplined, and and demand been very also into our strong and lucrative to to mortgaged, both are shareholder committing, methodical

Joshua Pokrzywinski

Great, appreciate the color. Best of luck.

Josef Matosevic

Thanks. Josh.

Operator

next Braatz Jon is Please Instructions] City Kansas [Operator Our proceed. question Capital. with from

Jon Braatz

Good Josef and Tania. morning,

Josef Matosevic

Good Morning.

Jon Braatz

obviously can us there's on actually a on XXXX? this your this a when that on approved to of expectation is it one, lot good it to longer this to you going hope surrounding the bill. Number questions. Two I you're this Will of and And be separate reality term Or incremental from just you seeing sort more the morning, separate guess demand the of bill? customers, buzz speak help infrastructure in issue? prove

Josef Matosevic

I so in think we like Jon this the is and that been opportunity So for the constraint we look the in from volume. total We they experiencing OEM supply offering? opportunity may customers, time with area in Jon. be impact learn, trying we're question, niche to an our us. is may be others overall incremental for delivering on may and discussing an our product of do have the that's your But currently? of products market, well. what clearly incremental see as we What is But what as our, from what terms

Jon Braatz

In XXXX.

Josef Matosevic

Yes.

Jon Braatz

Okay.

impact flat. any, beginning to quarters, the of as the it impact couple the revenues of sort seeing in their Are pennant last to secondly, pandemic, Are then from And Balboa’s the seeing revenues abate? pandemic? related sequentially favorable right. All been on have change Okay. the, you to any you

Josef Matosevic

components last and to Tricia earlier, what has of could more Jon ahead. you of nicely, a out we shortages. the we again, mouth product of a of kind Once robust week lot that think I look go but is flowing hand and product the then the our we run weeks Well like [Indiscernible] electronic so Yes, starts daylight. quarter, said been shipped have more if have couple that pattern in very relates to

be So, many pretty seen into that with diversifying slow market Joyonway And have where no, augmented stoppage is hope markets, supply should more if we not it or line we certainly good. our now, a acquisition maintains the to the And we chain product and will be down able certainly right yet. strategy that penetrate of our strategy. on other

Jon Braatz

Yes.

very you thank Josef, Alright, Okay. much.

Josef Matosevic

Thanks so much.

Operator

of Josef would question conference to over end closing for session. and our the reached We like answer turn have the remarks. to back I

Josef Matosevic

today. Thank joining you operator. you, all for Thank us

always, As deliver to continue updating on your of of all year. our grow confident stay look and all forward a Have value next certainly great quarter We interest stakeholders. for we to our remain in fourth Helios in and you and appreciate our ability to super day healthy.

Operator

you. Thank does conference. This conclude today's

may disconnect for you thank and your at lines time this You participation. your

Helios (HLIO) 8 Nov 212021 Q3 Earnings call transcript