Welcome to our dedicated page for Holley news (Ticker: HLLY), a resource for investors and traders seeking the latest updates and insights on Holley stock.
Holley Inc. reports news on its automotive aftermarket performance business, including earnings, operational highlights, product launches and portfolio actions. The company designs, manufactures and distributes performance products for car and truck enthusiasts under brands such as Holley, Holley EFI, MSD, Simpson, Flowmaster, EDGE, Cataclean and Accel.
Recurring updates cover the company’s American Performance, Modern Truck & Off-Road, Euro & Import, and Safety & Racing verticals; new engine-swap, EFI, chemicals, car-care and motorsports products; flagship enthusiast events; acquisitions such as HRX; portfolio optimization; distribution-channel activity; debt reduction and full-year outlook commentary.
Holley Inc. (NYSE: HLLY) reported mixed financial results for 2022, with net sales of $688.4 million, a slight decrease from 2021. Gross profit fell by 11.6% to $253.7 million, while net income showed improvement at $73.8 million compared to a net loss in 2021. Despite a 14.3% decline in Q4 net sales, Holley achieved record DTC sales of $149 million, up 27% year-over-year. The company expects net sales for 2023 between $625-$675 million and $30 million in cost savings. Holley's management acknowledged challenges but remains focused on operational improvements, financial stability, and maintaining its leadership in the performance automotive market.
Holley Inc. (NYSE: HLLY) has announced the schedule for its fourth quarter and full year 2022 financial results. A conference call will be held on March 9, 2023, at 8:30 AM ET, during which company executives will discuss the financial outcomes. The earnings release will be available before the market opens on the same day on the investor relations page of Holley's website. Interested parties can participate via dial-in or listen to a live webcast. A telephone replay will be available until March 16, 2023.
Holley Inc. (NYSE: HLLY) appointed Brian Appelgate as Interim COO, an industry expert with extensive operational experience in the performance automotive aftermarket. Appelgate, who has advised Holley since 2018, aims to enhance the company's operational performance amid recent production inefficiencies due to supply chain constraints and inflationary pressures affecting margins. Holley's President highlighted the urgent need for improved supply chain, manufacturing, and engineering areas to meet customer demand and optimize performance.
Holley Inc. (NYSE: HLLY) reported third quarter 2022 results with net sales of $154.8 million, down 3.1% year-over-year, and gross profit down 25.8% to $48.4 million. The company achieved a net income of $31.6 million, or $0.27 per diluted share, reversing the prior year’s loss. Adjusted net loss was $(4.1) million, a decline from adjusted net income of $14.6 million last year. Holley revised its full-year outlook, anticipating net sales of $695-$710 million and adjusted EBITDA of $118-$124 million, due to ongoing supply chain challenges and inflation. Direct-to-consumer sales rose by 11% during the quarter.
Holley Inc. (NYSE: HLLY) has announced the release date for its third-quarter 2022 financial results, scheduled for November 14, 2022. The earnings release will be available post-market closure, followed by a conference call at 4:30 p.m. ET to discuss the results. Key executives including Tom Tomlinson, Steve Trussell, and Vinod Nimmagadda will lead the call. Investors can participate via dial-in or via a live webcast, with a replay available until November 21, 2022. More information can be found on Holley's investor relations website.
Holley Inc. (NYSE: HLLY) reported a 7.1% decline in net sales to $179.4 million for Q2 2022, driven by supply chain disruptions and reduced consumer demand. Gross profit fell 7.3% to $75.3 million, while net income increased to $40.6 million due to a non-cash liability decrease. Adjusted net income dropped to $13.2 million from $23.1 million year-over-year. Looking ahead, Holley anticipates 2022 net sales between $700-$725 million amid ongoing supply chain issues.
Holley Inc. (NYSE: HLLY) provided its preliminary financial results for Q2 2022, reporting net sales of $179.4 million, a 7.1% decrease from last year. Despite a gross profit decline to $75.3 million (down 7.3%), net income rose to $40.6 million, an increase of $17.5 million. The company revised its full-year guidance, projecting net sales between $700 million and $725 million, down from the previous range of $765 million to $790 million, due to ongoing supply chain issues.
Holley Inc. (NYSE: HLLY) has been added to the US small-cap Russell 2000 Index, effective June 27, as part of the annual Russell index reconstitution. This membership, a recognition of Holley's market cap, enhances its visibility within the investment community. CFO Dominic Bardos highlighted that joining the Russell indexes marks a significant milestone for the company, which went public less than a year ago. Holley provides high-performance automotive products and has a diverse portfolio aimed at automotive enthusiasts.
Holley Inc. (NYSE: HLLY) has elected Anita Sehgal, Senior Vice President of Marketing and Communications for the Houston Astros, to its Board of Directors during the Annual Meeting of Shareholders.
Sehgal, with extensive experience in consumer engagement and branding, replaces Gina Bianchini, who did not seek re-election. CEO Tom Tomlinson welcomed Sehgal's insights as Holley continues to expand its automotive enthusiast platform.
Holley, a leader in high-performance automotive products, emphasizes innovation and M&A strategies to enhance its diverse portfolio.
Holley Inc. (NYSE: HLLY) reported a strong first quarter for 2022, with net sales rising 24.8% year-over-year to $200.1 million. Gross profit also increased 25.9% to $82.7 million, leading to a net income of $16.9 million, a significant turnaround from a net loss of $(2.1) million in 2021. Adjusted net income improved to $21.5 million compared to $15.1 million last year. Despite challenges such as supply chain disruptions and inflation, the company reaffirmed its 2022 financial outlook, expecting net sales between $765-$790 million.