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Jun 27, 2021
Holley Q2 2021 Earnings Report
Holley's second quarter performance in 2021 was marked by strong organic growth and effective execution of strategic initiatives.
Key Takeaways
Holley Inc. reported a strong second quarter in 2021, with net sales increasing by 54% to $193.0 million, driven by both organic growth and recent acquisitions. Net income also saw a significant increase of 85% to $23.1 million.
Net sales increased 54% to $193.0 million compared to the prior year period.
Gross profit increased 48% to $81.2 million compared to the prior year period.
Operating income increased 52% to $40.1 million compared to the prior year period.
Net income increased 85% to $23.1 million compared to the prior year period.
Holley
Holley
Forward Guidance
Holley reiterates its full-year expectations with net sales expected to range between $648 to $663 million for fiscal year 2021.
Challenges Ahead
- Sales growth is expected to moderate in the back half of 2021, largely due to lapping strong 2020 performance.
- Full-year guidance contemplates the uncertainties surrounding global supply chain challenges.
- Full-year guidance contemplates inflationary pressure on raw material costs.