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.
Baer Brakes, a Holley Performance Brands (NYSE: HLLY) company, has launched Baer BIG Claw Performance Brake Kits and Baer Claw Rotors for modern trucks. These products are designed to enhance stopping power and style for popular vehicles like Ford F-150, Ford Bronco, Ram Trucks, Jeep JL/JT, Chevrolet Silverado 1500, and Chevrolet Suburban.
The Baer BIG Claw platform reduces stopping distance by over 20 feet compared to stock brakes. Key features include:
- Improved stopping performance
- Use of factory caliper and pads
- Simple bolt-on installation
Holley Performance Brands (NYSE: HLLY) reported a record-breaking attendance at its 15th annual Holley LS Fest East in Bowling Green, Kentucky. The three-day event attracted nearly 45,000 automotive enthusiasts and featured 2,752 vehicles, setting new records for the flagship event. Highlights included sold-out autocross and drag race events, a blockbuster car show, and a competitive drift event. The company also introduced a new Road Course High-Performance Driving Experience at NCM Motorsports Park.
CEO Matthew Stevenson emphasized the event's success and the valuable opportunity to engage with customers. Holley's event season will conclude with two more flagship events: Holley MoParty (September 13-15) and Holley Ford Festival (September 26-29) at Beech Bend Raceway Park.
Simpson, a Holley Performance Brand (NYSE: HLLY), has unveiled the Devil Ray 3.0 and Desert Devil 3.0 racing and off-road helmets. These updated designs set new standards for lightweight construction, improved safety features, and aggressive styling. The Devil Ray 3.0 is tailored for long races, while the Desert Devil 3.0 is designed for challenging off-road environments. Both helmets are available in carbon or composite variations with four color options.
Key enhancements include improved aerodynamics, redesigned ventilation, and better accessory integration. The Devil Ray 3.0 features an enhanced interior for comfort and is Snell certified. The Desert Devil 3.0 comes with pre-installed radio, top air system, and neck skirt for dust protection. This release aligns with Holley's strategy to deliver high-performance solutions across its key consumer verticals, including Safety & Racing and Modern Truck & Off-Road.
Holley Performance Brands (NYSE: HLLY) announced that Moody's Ratings has upgraded the company's corporate family rating (CFR) to B2 from B3, with a stable outlook. The upgrade reflects Moody's expectation that Holley will maintain healthy profitability and moderate financial leverage while generating solid free cash flow over the next 12-18 months. Despite revenue headwinds expected in 2024, Holley has successfully implemented operational initiatives to improve earnings and free cash flow, which has been used to repay debt. CFO Jesse Weaver emphasized the company's progress on financial priorities, including strengthening the balance sheet and maintaining robust free cash flow. The upgrades from both Moody's and S&P affirm Holley's financial improvements, with a continued focus on decreasing debt, enhancing profitability, and generating strong free cash flow.
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.
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