Holley Q3 net sales down 14.4% to $134M; net loss $6.3M vs prior year profit

Holley Inc.

2024-Q3 EPS reported $0.12 revenue$462,170,000

Net loss of $(6.3)M ($(0.05)/diluted share) vs net income $0.8M ($0.01) YoY.
Adjusted net loss $(0.5)M vs adjusted net income $3.5M; Adjusted EBITDA $22.1M vs $27.9M.
Free cash flow $(2.1)M vs $21.7M last year; operating cash flow $(1.7)M.
Moody's upgraded corporate family rating to B2 from B3 during the quarter.
Distribution partner inventory levels normalizing; strong enthusiast event engagement.

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