---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013763"
form_type: "8-K"
ticker: "HLLY"
cik: "0001822928"
company_name: "Holley Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:40:04.234126+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Holley Q1 net sales down 13.9% to $172.2M; net income falls to $4.3M from $16.9M

## Summary
- Net sales $172.2M, down 13.9% YoY from $200.1M.
- Net income $4.3M ($0.04 diluted EPS) vs $16.9M ($0.15) in prior year.
- Adjusted EBITDA $33.9M, down from $46.0M in Q1 2022.
- Gross profit $67.7M, down 18.1% YoY.
- Company reaffirms full year 2023 outlook.

## SEC filing metadata
- accession: 0001437749-23-013763
- form_type: 8-K
- ticker: HLLY
- cik: 0001822928
- company_name: Holley Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.07, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822928/000143774923013763/0001437749-23-013763-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822928/000143774923013763/hlly20230406_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013763
- JSON: https://secwatch.observer/filing/0001437749-23-013763.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013763.txt

## Key facts
- Earnings Releases
  Holley Inc. reported first quarter ended April 2, 2023 results: revenue $172.2 million, net income $4.3 million, EPS $0.04 per diluted share. Guidance reaffirmed.
  - Period: first quarter ended April 2, 2023
  - Revenue: $172.2 million
  - Net income: $4.3 million
  - EPS: $0.04 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: HOLLEY REPORTS FIRST QUARTER 2023 RESULTS Company reaffirms full year 2023 outlook Sales leverage, operational improvements and cost initiatives drive significant sequential profitability increase BOWLING GREEN, KY – May 11, 2023 – Holley Inc. (NYSE: HLLY), a leading platform serving performance automotive enthusiasts, today announced financial results for its first quarter ended April 2, 2023. First Quarter Highlights vs. Prior Year Period ● Net Sales decreased 13.9% to $172.2 million compared to $200.1 million in the prior year's first quarter ● Gross Profit decreased 18.1% to $67.7 million compared to $82.7 million in the prior year's first quarter ● Net Income of $4.3 million , or $0.04 per diluted share, compared to Net Income of $16.9 million , or $0.15 per diluted share, in the prior year's first quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923013763/0001437749-23-013763-index.htm
- Shareholder Votes
  Holley Inc. shareholders approved Election of Class II Directors for three-year terms at the 2023-05-09 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-09
  source text: On May 9, 2023, the Company held its 2023 Annual Meeting of Stockholders (the “Annual Meeting”). At the Annual Meeting, the stockholders of the Company: (1) elected two Class II directors for three-year terms; and (2) ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923013763/0001437749-23-013763-index.htm
- Shareholder Votes
  Holley Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2023-05-09 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-09
  source text: Votes For Votes Against Abstentions Broker Non-Votes 101,908,523 25,958 1,011 --
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923013763/0001437749-23-013763-index.htm

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