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Apr 03, 2022
Holley Q1 2022 Earnings Report
Holley's first quarter results for 2022 showed strong growth in consumer demand, driving a 25% year-over-year sales increase.
Key Takeaways
Holley Inc. reported a strong first quarter in 2022, with net sales increasing by 24.8% to $200.1 million and net income reaching $16.9 million, or $0.15 per diluted share. The company reaffirmed its full-year 2022 outlook, expecting continued growth.
Net sales increased by 24.8% to $200.1 million compared to $160.3 million in the prior year period.
Gross profit increased by 25.9% to $82.7 million compared to $65.7 million last year.
Net income was $16.9 million, or $0.15 per diluted share, compared to a net loss of $(2.1) million in the first quarter of 2021.
Adjusted EBITDA rose to $46.0 million compared to $43.8 million in 2021.
Holley
Holley
Forward Guidance
Holley reaffirmed its full year 2022 outlook.
Positive Outlook
- Net Sales in the range of $765-$790 million
- Adjusted EBITDA of $186-$194 million
- Capital Expenditures in the range of $14-$16 million
- Depreciation and Amortization Expense of $24-$26 million
- Interest Expense in the range of $30-$32 million