---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-015203"
form_type: "8-K"
ticker: "HLLY"
cik: "0001822928"
company_name: "Holley Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T12:43:04.310709+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Holley Q1 net sales down 7.9% to $158.6M; adjusted net income $0.1M; FY outlook reiterated

## Summary
- Net sales $158.6M, down 7.9% YoY from $172.2M; net income $3.7M ($0.03 diluted EPS) vs $4.2M.
- Adjusted net income $0.1M vs $6.1M; adjusted EBITDA $30.7M vs $33.9M; both down YoY.
- Free cash flow improved to $17.7M from $3.0M; paid down $15M of debt during quarter.
- Reiterates full-year 2024 outlook; provides Q2 guidance indicating sequential improvement.

## SEC filing metadata
- accession: 0001437749-24-015203
- form_type: 8-K
- ticker: HLLY
- cik: 0001822928
- company_name: Holley Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822928/000143774924015203/0001437749-24-015203-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822928/000143774924015203/hlly20240321_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-015203
- JSON: https://secwatch.observer/filing/0001437749-24-015203.json
- Plain text: https://secwatch.observer/filing/0001437749-24-015203.txt

## Key facts
- Earnings Releases
  Holley Inc. reported first quarter ended March 31, 2024 results: revenue $158.6 million, net income $3.7 million, EPS $0.03 per diluted share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2024
  - Revenue: $158.6 million
  - Net income: $3.7 million
  - EPS: $0.03 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: HOLLEY REPORTS FIRST QUARTER 2024 RESULTS; CONTINUES ORGANIZATIONAL TRANSFORMATION WITH KEY EXECUTIVE APPOINTMENTS TO DRIVE ORGANIC GROWTH Delivered first quarter net sales of $158.6 million Paid down $15 million of debt and improved free cash flow generation by $15m, year-over year Reiterates full year 2024 outlook and provides Q2 outlook BOWLING GREEN, Ky. – May 8,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774924015203/0001437749-24-015203-index.htm
- Shareholder Votes
  Holley Inc. shareholders approved Ratification of appointment of Grant Thornton LLP as independent registered public accounting firm for fiscal 2024 at the 2024-05-02 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: 2. Ratification of Appointment of Independent Registered Public Accounting Firm . The appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending on December 31, 2024 was ratified, with the voting results as follows: Votes For Votes Against Abstentions Broker Non-Votes 101,990,271 12,881 73,517 --
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774924015203/0001437749-24-015203-index.htm
- Shareholder Votes
  Holley Inc. shareholders approved Election of three Class III directors at the 2024-05-02 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: 1. Election of Directors . Each of the nominees for director, as listed in the Proxy Statement, was elected to serve until the conclusion of the Company’s 2027 Annual Meeting of Stockholders or until his or her successor is duly elected and qualified, with the voting results as follows: Name Votes For Votes Withheld Broker Non-Votes Matthew Rubel 91,893,226 2,512,371 7,671,072 Owen M. Basham 68,252,222 26,153,375 7,671,072 Graham Clempson 72,399,750 22,005,847 7,671,072
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774924015203/0001437749-24-015203-index.htm

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