Holley Inc. - HLLY STOCK NEWS

Holley Performance Brands (NYSE: HLLY) has successfully amended its senior secured revolving credit facility, effective December 4, 2024. The amendment introduces a 5.0x total net leverage springing covenant, tested only when the revolver is drawn, and extends maturity to November 18, 2029. The available borrowing under the revolver is set at $100 million.

The amendment was facilitated by operational improvements and recent credit upgrades from S&P and Moody's. According to CFO Jesse Weaver, this modification enhances Holley's financial flexibility and reduces refinancing risk while supporting their transformational initiatives.

Holley Performance Brands (NYSE: HLLY) has announced its participation in two upcoming investor conferences. The company will present at the Raymond James TMT & Consumer Conference in New York on December 11, 2024, from 8:40-9:10 AM EST, and attend the Truist Securities Gaming, Lodging, Leisure and Restaurants Summit in Boston on December 12, 2024. Management will conduct one-on-one meetings with investors at both events, though they will only deliver a presentation at the Raymond James conference. Presentation materials and webcast link will be available on Holley's investor relations website.

MidOcean Partners has acquired Arnott Industries, a leading designer and manufacturer of air suspension systems for the automotive aftermarket. Founded in 1989, Arnott offers over 800 products for light passenger vehicles with coverage of approximately 90% of air-equipped vehicles in operation. The company produces OE quality or better replacement products at its American and European facilities. This marks MidOcean's fourth investment in the auto aftermarket sector, following investments in Cloyes, FullSpeed Automotive, and Holley Inc. (NYSE: HLLY). Financial terms were not disclosed.

Holley (NYSE: HLLY) reported Q3 2024 financial results with net sales decreasing 14.4% to $134.0 million compared to $156.5 million last year. The company posted a net loss of $6.3 million, or $(0.05) per diluted share. Despite challenges, the company saw a 16% year-over-year increase in direct-to-consumer channel and 10% median lift in B2B out-the-door sales during event windows. Notable improvements include a 133% increase in revenue per SKU and 25% rise in new product revenue year-to-date. Moody's upgraded Holley's corporate family rating to B2 from B3. The company revised its full-year 2024 outlook, projecting net sales of $595-605 million.

Holley Performance Brands (NYSE: HLLY) announces expanded presence at SEMA 2024, showcasing its portfolio of over 70 automotive aftermarket brands. The company's larger booth in Central Hall will feature innovative solutions across four key verticals: Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing. This expansion follows the March 2024 strategic rebranding to Holley Performance Brands, aimed at enhancing global presence. The SEMA show, scheduled for November 5-8, 2024, in Las Vegas, is expected to attract over 140,000 industry professionals.

Holley Performance Brands (NYSE: HLLY) has scheduled its third quarter 2024 financial results release for November 8, 2024. The company will host a conference call and webcast at 8:30 am Eastern Time, with CEO Matthew Stevenson and CFO Jesse Weaver presenting. The earnings release and presentation will be available before market opens on the company's investor relations website. A replay will be accessible until November 15, 2024, for those unable to attend the live event.

Stilo, a brand within Holley Performance Brands (NYSE: HLLY), celebrated its 25th anniversary at its newly expanded global headquarters in Bergamo, Italy. The celebration, themed 'Forever, Ahead,' showcased the brand's commitment to racing safety and excellence. The new 50,000-square-foot facility features increased production capacity and an integrated carbon manufacturing facility for high-end carbon fiber helmets.

The company unveiled upcoming products, including new iterations of the ST and Venti helmets and the Hans IV head and neck restraint system, set to debut at the Performance Racing Industry show in December. Stilo's helmets are trusted by professional drivers in elite motorsport disciplines including Formula 1® and FIA's World Rally Championship.

Flowmaster, part of Holley Performance Brands (NYSE: HLLY), has launched the Flowmaster Signature Series, a new premium exhaust line for modern trucks. This next-generation system offers increased power and performance, a finely tuned sound, and features brushed stainless steel for durability and aesthetics. Available for popular truck models, it delivers significant gains in power and torque over stock systems.

Key features include:

• More aggressive sound performance
• Cat-Back and Axle-Back systems maintaining emissions compliance
• Simple installation with factory hanger locations
• Hand-welded and made in the USA

Holley Performance Brands (NYSE: HLLY) is hosting the annual Haus Party event through its European aftermarket brands APR and Dinan. The event, taking place on October 12, 2024, at their Opelika, Alabama headquarters, will showcase new products and connect with customers in the Euro and import vehicle market.

The event features interactive exhibits, a VW, Audi, and BMW-focused car show, and product innovations. It's free and open to the public, offering enthusiasts a tour of the 80,000-square-foot facility. Prior to the Haus Party, Holley will welcome dealers globally on October 10-11, emphasizing their investment in APR and Dinan.

APR and Dinan offer a wide range of products for European vehicles, including tuners, intakes, exhaust systems, and more. With a $14 billion addressable market in the U.S., both brands are introducing comprehensive solutions for vehicle enhancement.