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Horizon Global Corporation (NYSE: HZN) announced a $35 million draw on its term loan to address working capital needs and support expansion in Europe-Africa. The company is also considering issuing up to $40 million in Series B Preferred Stock to fund the repayment of convertible notes due July 1, 2022. Preliminary results for Q4 indicate a decline in net sales to $164.3 million and a loss from continuing operations between $19.4 and $20.9 million, reflecting supply chain challenges. Despite setbacks, the company has a strong order book of $58.8 million, indicating potential growth.
Horizon Global Corporation (NYSE: HZN) reported third quarter 2021 net sales of $196.5 million, down $5.0 million from Q3 2020. Gross profit fell to $38.8 million, reflecting a 19.7% margin, down from 21.5% last year. The operating profit was $6.3 million, a decrease of $2.3 million. The company reported a net loss of $2.8 million, worsening by $4.4 million from last year. Adjusted EBITDA also decreased to $13.0 million, down $3.1 million. Cash availability decreased to $54.9 million, while gross debt rose to $296.3 million.
Horizon Global Corporation (NYSE: HZN) will host its third quarter 2021 results conference call on November 4, 2021, at 8:30 a.m. ET. The call will feature President and CEO Terry Gohl and CFO Dennis Richardville. Participants should register five to ten minutes in advance by calling (844) 825-9786 or (412) 902-4185 for international calls. The results and supplementary materials will be available on the company’s website prior to the call. A replay will be accessible by phone or online until November 18, 2021.
Horizon Global Corporation (NYSE: HZN) will participate in the virtual Midwest IDEAS Investor Conference on August 25, 2021, featuring CEO Terry Gohl and CFO Dennis Richardville. The company's presentation will be available at 7:00 am CST and accessible via the conference site and its investor relations webpage. The IDEAS Conferences focus on providing independent venues for companies to showcase their investment potential, backed by sponsors managing over $200 billion. Horizon Global, a leader in towing and trailering products, is committed to innovation and operational excellence.
Horizon Global Corporation (NYSE: HZN) reported significant financial improvements in Q2 2021, with net sales rising 17.8% to $128.4 million in the Americas and 12.0% to $93.7 million in Europe-Africa compared to Q2 2019. Operating profit for Horizon Americas reached $16.8 million, boosted by strong aftermarket and e-commerce sales. Adjusted EBITDA rose to $18.5 million. However, cash availability declined to $62.0 million. CEO Terry Gohl emphasized the company's strategic plan focusing on operational improvements and targeting double-digit margins for long-term shareholder value.
Horizon Global Corporation (NYSE: HZN) announces participation in the Jefferies Virtual Industrials Conference on August 4, 2021. Terry Gohl, President and CEO, and Dennis Richardville, CFO, will present at 8:00 am ET. The presentation will be available via webcast on the conference and company websites for 30 days. Horizon Global, headquartered in Plymouth, MI, is a leading designer and manufacturer of towing and trailering products, serving various market segments with renowned brands like Draw-Tite and Reese, and employing approximately 4,350 people.
Horizon Global Corporation (NYSE: HZN) will host a conference call on August 3, 2021, at 8:30 a.m. ET to discuss its second quarter 2021 results. The call will be led by President and CEO Terry Gohl and CFO Dennis Richardville, with registration required five to ten minutes prior. The results will be released before the market opens on the same day and will be accessible on the Company's website. A replay will be available post-call until August 17, 2021. Headquartered in Plymouth, MI, Horizon Global is a leader in towing and trailering products, serving various market segments.
Horizon Global Corporation (NYSE: HZN) appointed Donna M. Costello as a Director and member of the Audit Committee, effective June 16, 2021. Costello brings extensive experience as a public company executive and board member, having served as CFO at C&D Technologies and Sequa Corporation. Chairman John C. Kennedy expressed excitement over her strategic insights and financial expertise, which are expected to enhance the company's growth and shareholder value. Horizon Global is a leading manufacturer in towing and trailering equipment, with a strong commitment to innovation.
Horizon Global Corporation (NYSE: HZN) reported robust financial results for Q1 2021, with net sales rising significantly across its segments. Net sales in Horizon Americas increased by 18.8% to $109.8 million, while Horizon Europe-Africa saw a 26.1% jump to $89.4 million. Gross profit also improved, leading to an operating profit of $11.8 million for the Americas and $1.5 million for Europe-Africa. Despite a cash reduction of $20 million, the company maintains a strong order book and anticipates continued growth.
Horizon Global (NYSE: HZN) will host a conference call on May 6, 2021, at 8:30 a.m. ET to discuss its first quarter 2021 results. The call will be led by CEO Terry Gohl and CFO Dennis Richardville, with registration required five to ten minutes before the start. The results and supplementary materials, including a PDF presentation, will be released before the market opens on the same day and will be available on Horizon Global's website. A replay of the call will be accessible after the event until May 20, 2021.
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