Holley reports Q4 net income $1.2M vs loss; Q4 adj EBITDA up 89% YoY; guides FY2024 sales $671-721M

Holley Inc.

2023-FY EPS reported $0.16 revenue$659,704,000

Q4 net sales $155.7M (+1.0% YoY); gross margin 38.7% vs 30.7% YoY.
Q4 net income $1.2M ($0.01 diluted EPS) vs net loss $(15.2M); adjusted EBITDA $28.5M (+89%).
Full year 2023 net sales $659.7M (-4.2% YoY); net income $19.2M ($0.16 diluted EPS) vs $73.8M ($0.14).
Adjusted EBITDA FY2023 $130.1M vs $114.7M; free cash flow $83.6M vs $(0.4M) YoY.
FY2024 guidance: net sales $671-721M, adjusted EBITDA $132-149M; Q1 sales $157-167M, EBITDA $26-31M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Holley Inc. reported quarter ended December 31, 2023 results: revenue $155.7 million, net income $1.2 million, EPS $0.01 per diluted share. Guidance initiated.

Period: quarter ended December 31, 2023
Revenue: $155.7 million
Net income: $1.2 million
EPS: $0.01 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

today announced financial results for its fourth quarter and full year ended December 31, 2023. Fourth Quarter Highlights vs. Prior Year Period ● Net Sales increased 1.0% to $155.7 million compared to $154.2 million last year ● Gross Profit increased 27.5% to $60.3 million compared to $47.3 million last year, and gross margin was 38.7% compared to 30.7% last year ●

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Holley Inc. reported full year ended December 31, 2023 results: revenue $659.7 million, net income $19.2 million, EPS $0.16 per diluted share. Guidance initiated.

Period: full year ended December 31, 2023
Revenue: $659.7 million
Net income: $19.2 million
EPS: $0.16 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

to $0.1 million last year ● Free Cash Flow 1 was $29.9 million compared to $(1.3) million last year Full Year 2023 Highlights vs. Prior Year Period ● Net Sales decreased 4.2% to $659.7 million compared to $688.4 million last year ● Gross Profit increased 1.0% to $256.1 million compared to $253.7 million last year, and gross margin was 38.8% compared to 36.8% last year

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Source: SEC EDGAR

accession 0001437749-24-005805

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