Holley Inc Stock Price, News & Analysis

Lincolnshire Management announces the sale of Schumacher Electric Corporation to private investment firm Ripple Industries LLC. While financial terms were undisclosed, this marks a significant transition for Schumacher, a leader in power supply products in the U.S. Under Lincolnshire's ownership since October 2020, Schumacher expanded into EV chargers and enhanced its e-commerce initiatives. Lincolnshire cites successful product extensions and a driven management team led by CEO Mickey Leech as key growth factors. Lincolnshire previously invested in notable firms like Holley Inc. (NYSE: HLLY) and Wabash National Corporation (NYSE: WNC).

Holley Inc. (NYSE: HLLY) announced preliminary first-quarter results for the period ending April 3, 2022, showing net sales estimated between $199 million and $200 million. The company reported a preliminary gross profit ranging from $81 million to $82 million, with a net income estimated between $16 million and $17 million. Additionally, adjusted EBITDA is projected to be between $45 million and $46 million. Complete financial results will be released on May 12, 2022.

Holley Inc. (NYSE: HLLY) has announced a secondary offering of 6,500,000 shares of its common stock by Holley Parent Holdings, LLC. The Selling Stockholder may grant underwriters a 30-day option to purchase an additional 975,000 shares. All net proceeds from the offering will go to the Selling Stockholder. Notably, no shares are being sold by Holley itself. The offering is managed by Jefferies, J.P. Morgan, and BofA Securities. A shelf registration statement with the SEC for these securities has been filed and is effective.

Holley Inc. (NYSE: HLLY) reported a strong fourth quarter and full-year results for 2021, with net sales rising 29.9% to $179.8 million in Q4 and 37.4% to $692.8 million for the year. Gross profit increased by 37.0% to $74.7 million in Q4, while for 2021, it rose 37.7% to $286.8 million. However, the company faced a net loss of $(18.0) million in Q4 and $(27.1) million for the year, compared to profits in the previous year. For 2022, Holley projects net sales between $765-$790 million and adjusted EBITDA of $186-$194 million.

MidOcean Partners has acquired Cloyes, a leader in timing drive systems, from Hidden Harbor Capital Partners. This marks MidOcean's third investment in the automotive aftermarket within 15 months, following investments in FullSpeed Automotive and Holley Inc. Cloyes, founded in 1921, serves over 300 customers with over 2,700 SKUs, emphasizing high-performance applications. The acquisition aims to accelerate growth and innovation, with leadership experienced in the automotive sector joining Cloyes' board. Financial terms were not disclosed.

Holley Inc. (NYSE: HLLY) announced the release date for its fourth quarter and full year 2021 financial results, scheduled for March 3, 2022, before market open. A conference call will be held at 8:30 a.m. EST on the same day, featuring key executives including CEO Tom Tomlinson and CFO Dominic Bardos. Investors can access the call via dial-in or live webcast. A telephone replay will be available until March 10, 2022. Holley is recognized as a leading brand in the automotive enthusiast market, focusing on high-performance products.

Holley (NYSE:HLLY) has acquired the assets of Arizona Desert Shocks, Baer Brakes, Brothers Trucks, and Rocket Racing Wheels for approximately $56 million in Q4 2021. This strategic acquisition enhances Holley’s capabilities in performance vehicle categories, including suspension systems, brake systems, and truck accessories. The company expects these acquisitions to generate $30 million in net sales for 2022, signaling a strong commitment to expanding its market presence and diversifying product offerings, especially in emerging electric vehicle segments.

Holley Inc. (NYSE: HLLY) successfully refinanced its 2018 credit facility, securing an $825 million credit package. This includes a $600 million first-lien term loan, a $125 million revolving credit line, and a $100 million delayed draw loan. The new terms offer more favorable interest rates compared to the previous debt and enhance borrowing capacity to support future acquisitions. CFO Dominic Bardos emphasized the refinancing as a key milestone for the company, indicating a positive outlook for growth.

Holley Inc. (NYSE: HLLY) reported a 19.8% increase in net sales for Q3 2021, reaching $159.7 million, despite facing supply chain challenges and a cybersecurity incident. The company experienced a net loss of $(30.2) million, compared to a net income of $13.5 million in the same quarter of 2020. Adjusted net income remained flat at $13.5 million. The projected fiscal 2021 net sales range remains between $648 million and $663 million. Holley’s CEO emphasized strong consumer demand, and the company hosted record attendance at its consumer events.