Holley Inc. - HLLY STOCK NEWS

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.

Holley Inc. (NYSE: HLLY), a leader in the performance automotive aftermarket, has announced the release date for its first quarter 2022 financial results. A conference call is scheduled for May 12, 2022, at 8:30 a.m. EDT, where key executives will discuss financial outcomes. The earnings release will be accessible before market opening on the same day. The company's commitment to innovation and a robust M&A strategy has positioned it as a major player in the enthusiast automotive space.

Holley Inc. (NYSE: HLLY) announced the pricing of a secondary offering of 8,000,000 shares of common stock at $12.00 per share, increasing the initial offering size by 1,500,000 shares. The offering, set to close on April 25, 2022, is conducted by Holley Parent Holdings, LLC, with no shares being sold by the company itself. The underwriters have a 30-day option to purchase an additional 1,200,000 shares. Holley’s business remains focused on high-performance products for automotive enthusiasts.

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.