secwatch.observer — SEC 8-K summary
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Issuer:     Holley Inc. (HLLY)
CIK:        0001822928
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001437749-23-005867
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/0001437749-23-005867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822928/000143774923005867/hlly20230104_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-005867

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer