8-K
filed February 6, 2023, 6:59 PM ET
ticker HLLY
CIK 0001822928
leadership
confidence high
sentiment negative
materiality 0.85
Holley CEO Tomlinson retires; Gloeckler interim CEO; prelim Q4 sales $153-155M, down 15% YoY
Holley Inc.
- CEO Tom Tomlinson retires effective Feb 6, 2023; Director Michelle Gloeckler named Interim President and CEO.
- Matthew Rubel appointed Executive Chairman; Graham Clempson added to Board.
- Preliminary Q4 net sales $153-155M, gross profit $46-48M, net loss $17-19M, Adj. EBITDA $13-15M.
- Full year 2022 net sales $687-689M (flat YoY); Adj. EBITDA $113-115M vs $169M in 2021.
- Gloeckler compensation: $530k base salary, 100k RSUs, target bonus 100% of base.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Holley Inc. reported the full year ended December 31, 2022 results: revenue Preliminary Net Sales of $687-$689 million, net income Preliminary Net Income of $70-$72 million.
- Period
- the full year ended December 31, 2022
- Revenue
- Preliminary Net Sales of $687-$689 million
- Net income
- Preliminary Net Income of $70-$72 million
- Result
- preliminary results
Exact text from the filing
Full Year 2022 Highlights vs. Prior Year Period ● Preliminary Net Sales of $687-$689 million, compared to $693 million in 2021 ● Preliminary Gross Profit of $253-$255 million, compared to $287 million in 2021 ● Preliminary Net Income of $70-$72 million, compared to a Net Loss of $27 million in 2021 ● Preliminary Adjusted EBITDA 1 range of $113 to $115 million, compared to $169 million in 2021
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Holley Inc. reported the fourth quarter ended December 31, 2022 results: revenue Preliminary Net Sales of $153-$155 million, net income Preliminary Net Loss of $19-$17 million.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- Preliminary Net Sales of $153-$155 million
- Net income
- Preliminary Net Loss of $19-$17 million
- Result
- preliminary results
Exact text from the filing
Fourth Quarter Highlights vs. Prior Year Period ● Preliminary Net Sales of $153-$155 million compared to $180 million in the fourth quarter 2021 ● Preliminary Gross Profit of $46-$48 million compared to $75 million in the fourth quarter of 2021 ● Preliminary Net Loss of $19-$17 million compared to a Net Loss of $18 million in the fourth quarter of 2021 ● Preliminary Adjusted EBITDA 1 of $13 to $15 million, compared to $36 million in the fourth quarter of 2021
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Rubel was appointed as Executive Chairman at Holley Inc..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
Matthew Rubel, the Company’s current Chairman of the Board, was designated and appointed Executive Chairman of the Board, and expects to serve in such role until a permanent CEO has been selected.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas Tomlinson retired as President and Chief Executive Officer at Holley Inc..
- Action
- retired
- Role
- President and Chief Executive Officer
Exact text from the filing
On February 4, 2023, Thomas Tomlinson gave notice to the Company that he will retire as President and Chief Executive Officer (“CEO”) and resign from the Board of Directors (the “Board”), effective February 6, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michelle Gloeckler was appointed as Interim President and Chief Executive Officer at Holley Inc..
- Action
- appointed
- Role
- Interim President and Chief Executive Officer
Exact text from the filing
The Board has appointed current Director, Michelle Gloeckler, as Interim President and CEO while it conducts a comprehensive search process to identify a permanent CEO.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Graham Clempson was appointed as Director at Holley Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Graham Clempson, an observer on the Board since the Company’s business combination with Empower Ltd. (“Empower”) in July 2021, was appointed to serve as a member of the Board, effective immediately.
View on SEC.gov
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