HZN - HZN STOCK NEWS

Horizon Global Corporation (NYSE: HZN) has launched the new Hidden Hitch series by Draw-Tite, designed for over 20 popular vehicle models. These innovative hitches, which keep a vehicle's original look intact, allow for easy attachment and removal, boasting up to 3,500 lbs. towing capacity. Features include a custom fit, anti-rattle hitch pin, and a hard storage case. Engineered for safety and performance, the hitches meet the highest standards and come with a limited lifetime warranty. They are available through Draw-Tite dealers and online platforms.

Horizon Global Corporation (NYSE: HZN) appointed Jian James Zhou as Chief Financial Officer, effective immediately. Zhou previously held CFO roles at Joyson Safety Systems and Tesla China, emphasizing his strong operational finance leadership. CEO Terry Gohl expressed confidence in Zhou's ability to enhance the company's turnaround efforts, leveraging his expertise in capital structure and business development. Zhou succeeds Dennis Richardville, who will transition to a consulting role post-10-Q filing for June 30, 2022. Horizon Global focuses on delivering value to shareholders and improving business operations.

Horizon Global Corporation (NYSE: HZN) has reached an amicable resolution with Continental Automotive Systems regarding a two-year patent dispute over electronic trailer brake controllers. The terms of the settlement remain confidential. Headquartered in Plymouth, MI, Horizon specializes in designing and manufacturing towing and trailering equipment, serving major markets in North America and Europe. The company is committed to innovation and protecting its intellectual property while maintaining leadership in the automotive and agricultural sectors.

Horizon Global Corporation (NYSE: HZN) reported a challenging first quarter of 2022 with net sales of $180.9 million, down $18.3 million from the previous year. Gross profit decreased slightly to $20.2 million, while gross profit margin fell to 11.2% from 20.4%. The company experienced a net loss of $27.0 million, a $11.8 million decline year-over-year. Adjusted EBITDA was $(6.6) million, down from $19.3 million. Supply chain issues, including semiconductor shortages and impacts from the Russia-Ukraine war, exacerbated these challenges. However, inventory levels remain robust as the selling season approaches.

Horizon Global (NYSE: HZN) is set to host a conference call on May 5, 2022, at 8:30 a.m. ET to discuss its first quarter 2022 results. The call will feature President and CEO Terry Gohl and CFO Dennis Richardville. Participants can register before the call by dialing (844) 825-9786. Preceding the conference, results and related materials will be available on the company's website. A replay will be accessible afterward through both the website and phone line until May 19, 2022. Horizon Global specializes in towing and trailering products across North America and Europe.

Horizon Global Corporation (NYSE: HZN) announced the appointment of Donna M. Costello as the new Chair of its Audit Committee, effective immediately. This follows the decision of Frederick A. Henderson, the previous chair, not to seek reelection at the upcoming 2022 Annual Meeting. Mr. Henderson served on the Board since 2019 and contributed significantly to the Audit Committee. Ms. Costello joined the Board in June 2021 and is also chair of the audit committee at Neenah, Inc. This leadership transition aims to ensure continued guidance and oversight for Horizon Global.

Horizon Global Corporation (NYSE: HZN) reported its fourth quarter and full-year 2021 financial results, highlighting net sales of $164.3 million for Q4, down $11.6 million from Q4 2020. Full-year net sales increased to $782.1 million, driven by higher retail and industrial channel sales. Q4 gross profit fell to $16.0 million, with a margin decreasing to 9.7%. The company experienced a net loss of $16.2 million in Q4. Supply chain issues, increased costs, and operational inefficiencies contributed to these declines. The CEO remains optimistic about recovery in 2022.

Horizon Global (NYSE: HZN) will host a conference call on March 10, 2022, at 8:30 a.m. ET to discuss its fourth quarter and full year 2021 results. Participants can register by calling (844) 825-9786 or (412) 902-4185 for international calls. The results and supplemental materials will be available on the company’s website before the call. A replay will be accessible shortly after the call ends, continuing until March 24, 2022. Horizon Global, based in Plymouth, MI, is a leader in towing and trailering products across North America and Europe.

Horizon Global Corporation has launched the Tekonsha Prodigy iD Trailer Brake Controller, a cutting-edge product featuring Bluetooth connectivity. This innovative brake controller integrates a color LED display into the vehicle's dashboard, allowing users to control and program it via the Tekonsha EDGE app on their smart devices. The product supports multiple trailer settings and provides tutorial assistance. Headquartered in Plymouth, MI, Horizon Global is a leader in towing and trailering products.