Helios Technologies (HLIO) Baird 2026 Global Industrial Conference summary

Strategy and growth

• CORE strategy, unveiled in March, follows portfolio review, restructuring, leadership changes and business-focused go-to-market plans after 12 quarters of declining sales.

• Sales inflected in June 2025; five consecutive quarters of double-digit sales increases and earnings growth followed.

• 2026 sales expected to be ~ $900M; all four businesses expected to grow double digits, with planned organic growth above $100M pro forma after excluding the CFP divestiture from the prior-year comparison.

• Addressable markets estimated at ~$12B; strategy targets niches where differentiated technology and customer solutions support winning, rather than maximizing share.

• Orders grew double digits for five consecutive quarters, comparing each quarter with the prior-year quarter; Q3 exit backlog was above the year-earlier level across both segments.

End-market performance

• Hydraulics demand is supported by agriculture, construction and mobile equipment; mobile markets returned to low-single-digit growth, while the segment aims to grow double digits through distributor engagement and targeted sales.

• Agriculture remains in a multi-year downturn, especially large combines, while smaller equipment has been more stable; product adaptations are extending Sun and Faster offerings across more equipment.

• Balboa health and wellness sales rose from ~$130M pre-COVID to a $250M COVID peak; demand has returned to low- to mid-single-digit growth, with this year's growth above that range.

• Balboa is benefiting from an estimated 10% production shift from the Americas to Asia, particularly China; output is exported to Europe and the U.S., and Joyonway is growing strongly.

• Recreation faces limited market tailwinds and interest-rate sensitivity, but new wins, product refreshes and growth with a large OEM support prospects as prior-year gains are lapped.

Products and portfolio opportunities

• Radio Sound assets added audio solutions, complementing displays and control modules; Indian Motorcycle is a contract customer, with potential applications across marine, recreation, mobile and agriculture.

• Electronics and hydraulics teams collaborate on electro-hydraulic development; the QMEH valve includes an electronics-developed sensor that monitors fluid flow through the manifold and cartridge valve.

• Balboa is above pre-acquisition sales levels; launches planned over the next year exceed its prior-decade launch count, including water care and water treatment products.

• Balboa adds Asian manufacturing and EMEA distribution reach; teams are exploring Enovation production at Balboa sites and shared platforms, engineering and sales opportunities.

• Recent hydraulics launches include Sun's 0-Series counterbalance valve and Faster's MultiFaster and GenYus products, broadening applications across equipment sizes.