---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-005867"
form_type: "8-K"
ticker: "HLLY"
cik: "0001822928"
company_name: "Holley Inc."
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T07:34:59.797721+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Holley Q4 net sales down 14.3% to $154.2M; full-year adj. EBITDA $114.7M; credit covenant relief secured

## Summary
- Q4 net sales fell 14.3% YoY to $154.2M; gross profit dropped 36.8% to $47.3M.
- Q4 net loss $(15.2)M ($(0.13)/diluted share) vs $(18.0)M loss a year ago.
- Full-year net sales $688.4M (-0.6% YoY); adjusted EBITDA $114.7M vs $169.5M in 2021.
- Credit agreement amended March 3: leverage covenant raised to 7.25x through June 2024; interest rate increased by 1.5%.
- Company provided 2023 outlook and guidance in the press release (no specific figures in filing).

## SEC filing metadata
- accession: 0001437749-23-005867
- form_type: 8-K
- ticker: HLLY
- cik: 0001822928
- company_name: Holley Inc.
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/0001437749-23-005867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/hlly20230104_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-005867
- JSON: https://secwatch.observer/filing/0001437749-23-005867.json
- Plain text: https://secwatch.observer/filing/0001437749-23-005867.txt

## Key facts
- Earnings Releases
  Holley Inc. updated its fourth quarter and full year ended December 31, 2022 guidance (initiated).
  - Period: fourth quarter and full year ended December 31, 2022
  - Guidance: initiated
  - Result: reported results
  source text: On March 9, 2023, the Company issued a press release announcing its financial results and operational highlights for the Company’s fourth quarter and year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/0001437749-23-005867-index.htm
- Material Agreements
  Holley Inc. amended Credit Agreement, as amended by the First Amendment with Wells Fargo Bank, National Association, as administrative agent, and the revolving credit lenders party thereto valued at First Amendment to Credit Agreement dated November 18, 2021; amended covenant levels, interest rates (effective 2023-03-03).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and the revolving credit lenders party thereto
  - Value: First Amendment to Credit Agreement dated November 18, 2021; amended covenant levels, interest rates
  - Effective: 2023-03-03
  source text: On March 3, 2023, Holley Inc. (the “Company”), certain subsidiaries of the Company, the revolving credit lenders party thereto and Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent for the lenders, entered into an amendment (the “First Amendment”) to that certain Credit Agreement, dated as of November 18, 2021, by and among the Company, Wells Fargo, as administrative agent, collateral agent, letter of credit issuer and swing line lender, and the other lenders from time to time party thereto (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/0001437749-23-005867-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.