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. (HLLY) is a leading designer, marketer, and manufacturer of high-performance automotive aftermarket products. Based in Bowling Green, Kentucky, Holley has a storied history dating back to its roots in Michigan, where it became one of the major producers of carburetors. These carburetors were standard equipment on many Detroit-built automobiles and have powered everything from the original Ford Model A to World War II airplanes and the factory muscle cars of the 1960s.
In contemporary times, Holley has expanded its product range to include fuel injection systems, high-performance fuel pumps, intake manifolds, superchargers, nitrous oxide injection systems, and performance plumbing, among other items. Notably, Holley's state-of-the-art electronic fuel injection (EFI) systems have been adopted as the spec EFI system in NHRA Pro Stock, and its throttle bodies are still utilized in NASCAR Sprint Cup engines.
Holley's portfolio features iconic brands that serve a diverse car and truck industry, including Holley, APR, MSD, and Flowmaster. The company's products are designed to enhance vehicle performance in terms of horsepower, torque, and drivability for street, off-road, recreational, and competitive applications.
Recently, Holley has achieved several milestones and formed strategic partnerships to further innovation and expand its market reach. The company continues to drive forward with new projects focused on advancing automotive performance. Despite its extensive product diversification, Holley derives a significant portion of its revenue from the U.S. market, with additional contributions from Italy.
Holley's commitment to high-quality performance products ensures that it remains a trusted name in the automotive aftermarket industry. With its rich history and ongoing innovations, Holley Inc. continues to play a significant role in shaping the future of automotive performance.
For the latest updates and news about Holley Inc., including financial performance, recent events, and new developments, visit our website regularly.
Holley Performance Brands (NYSE: HLLY) reported Q2 2024 results with net sales of $169.5 million, down 3.3% year-over-year. Net income increased 31% to $17.1 million, or $0.14 per diluted share. Adjusted EBITDA was $37.4 million, slightly down from $37.9 million last year, but with a 50bps improvement in margin.
Key highlights include:
- S&P Global Ratings upgraded Holley's credit rating to 'B' from 'B-'
- Completed an additional $10 million early debt paydown
- Exited the Covenant Relief Period with a bank-adjusted EBITDA leverage ratio of 4.02x
- Appointed Alex Buccilli as new SVP of Operations and Supply Chain
Despite macroeconomic challenges, Holley is making progress on its transformation strategy, focusing on digital capabilities, distributor partnerships, and product innovation. The company provided a conservative outlook for H2 2024 due to economic uncertainties.
Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, has announced its second quarter 2024 financial results will be released on August 7, 2024. The company will host a conference call and live webcast at 8:30 am Eastern Time to discuss the results. President and CEO Matthew Stevenson and CFO Jesse Weaver will lead the call.
The earnings release and presentation will be available on the company's Investor Relations page before market open. Investors can join via phone or webcast, with replay options available until August 14. Holley Performance Brands specializes in designing, manufacturing, and marketing high-performance automotive products across various enthusiast segments, including Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing.
Dinan, a Holley Performance Brand (NYSE: HLLY), has reintroduced its popular Foundation & Experience Packages for late-model BMWs. These packages combine various performance-enhancing components, such as intakes, exhausts, and chassis parts, into a single offering. This move aims to meet the growing demand in the European and Import car market, which represents nearly half of the existing car population. CEO Matthew Stevenson highlights the company's commitment to customer focus and innovation with these comprehensive packages designed to enhance vehicle performance without compromising safety. The packages are also available for the Toyota GR Supra.
S&P Global Ratings has upgraded Holley Performance Brands' (NYSE: HLLY) issuer credit rating from 'B-' to 'B' and senior secured issue-level rating from 'B-' to 'B' as of June 13, 2024.
This upgrade reflects Holley's improved leverage ratio, stronger profitability, debt paydown, and consistent free cash flow generation. CFO Jesse Weaver attributed this milestone to the company's focused financial strategies and emphasized the ongoing commitment to reduce leverage, enhance profitability, and improve cash flow.
Holley Performance Brands (NYSE: HLLY) has launched the Terminator X Max EFI kit for Ford's Godzilla engines. This product enhances Holley's engine swap solutions portfolio, targeting classic muscle car and truck enthusiasts. The system provides advanced control over fuel and ignition, simplifying the installation and operation of the 7.3-liter Godzilla engine.
CEO Matthew Stevenson emphasized the system's ease of use and its alignment with customers' performance passions. The Terminator X Max is designed for various activities, including cruising, racing, and truck pulling. It's compatible with other Holley products to further boost engine performance.
For more details on purchasing and other company news, visit Holley's website.
Holley Performance Brands (NYSE: HLLY) announced participation in upcoming investor conferences. They will attend the Jefferies Automotive Aftermarket Private and Public Company Investor Conference on May 23, 2024, in New York and William Blair’s 44th Annual Growth Stock Conference on June 5, 2024, in Chicago. The company will present from 3:00–3:30 PM EST at the William Blair event and conduct one-on-one meetings with investors at both conferences. Presentation materials and webcast links will be available on their Investor Relations website. Holley is known for its high-performance automotive products and strategic acquisitions.
Holley Performance Brands (NYSE: HLLY) announced that its 2024 LS Fest West was named one of USA Today's top 10 Best Motorsports Races in its 10Best Readers' Choice 2024 Awards. Set at the Las Vegas Motor Speedway, the event saw record single-day attendance with over 15,000 visitors and a total of 30,000 attendees over three days. The LS Fest series continues with LS Fest Texas at Texas Motor Speedway from May 17-19 and LS Fest East in September in Bowling Green. LS Fest events focus on various automotive activities, including drifting, drag racing, burnouts, and autocross. Pre-registration for LS Fest Texas is up 30% compared to last year, indicating growing interest.
Holley Performance Brands (NYSE: HLLY) reported first quarter 2024 results, including net sales of $158.6 million, a decrease of 7.9% from the prior year. Despite challenges in consumer demand and inflation, Holley is focused on managing costs, improving efficiency, and driving growth. The company paid down $15 million in debt, enhanced free cash flow, and made key executive appointments to boost organic growth. Holley remains optimistic about its long-term sustainable growth prospects.
Holley Performance Brands (NYSE: HLLY) announced the addition of a Bluetooth module for its Sniper 2 EFI conversion ecosystem, bringing greater affordability and accessibility. The new technology allows classic cars and trucks with carburetors to run like modern vehicles, controlled through the Sniper EFI app on smartphones. Holley also introduced an enhanced kitting-on-demand process for more flexibility and customization. Sniper 2 EFI is an easy-to-install, self-tuning system part of a complete ecosystem that simplifies tuning for enthusiasts.
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