Holley Q2 2022 Earnings Report
Key Takeaways
Holley Inc. reported a decrease in net sales by 7.1% to $179.4 million and a decrease in gross profit by 7.3% to $75.3 million compared to the prior year's second quarter. Net income increased to $40.6 million, or $0.35 per diluted share. Adjusted EBITDA was $37.2 million compared to $54.1 million in the prior year's second quarter. The company reduced its outlook for the remainder of the year due to these challenges.
Net sales decreased by 7.1% to $179.4 million compared to the prior year's second quarter.
Gross profit decreased by 7.3% to $75.3 million compared to the prior year's second quarter.
Net income was $40.6 million, or $0.35 per diluted share, compared to $23.1 million in the prior year's second quarter.
Adjusted EBITDA was $37.2 million compared to $54.1 million in the prior year's second quarter.
Holley
Holley
Forward Guidance
Holley's current outlook for 2022 includes net sales in the range of $700-$725 million and adjusted EBITDA of $135-$145 million.