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Jun 30, 2024
Holley Q2 2024 Earnings Report
Holley reported Q2 2024 results with net income up 31% year over year and adjusted EBITDA margin up 50bps year over year.
Key Takeaways
Holley Performance Brands reported second-quarter net sales of $169.5 million. Net income increased to $17.1 million, and the company made progress on deleveraging with a $10 million prepayment. S&P Global Ratings upgraded Holley's debt and credit ratings.
Net Income was $17.1 million, or $0.14 per diluted share, compared to $13.0 million, or $0.11 per diluted share last year.
Adjusted Net Income was $12.6 million compared to $16.0 million last year.
Free Cash Flow was $24.4 million compared to $29.0 million last year.
Total net inventory reduced to $173.5 million compared to $217.5 million Q2 of last year; inventory turns improved to 2.2x compared to 1.9x last year
Forward Guidance
Holley is providing the following outlook for the third quarter and full-year 2024:
Historical Earnings Impact
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Avg. Return Before/After Earnings
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