Holley Q3 2021 Earnings Report
Key Takeaways
Holley Inc. reported a 19.8% increase in net sales to $159.7 million for Q3 2021, driven by acquisitions. However, a cybersecurity incident deferred approximately $7 million in sales to Q4. The company reported a net loss of $(30.2) million, or $(0.28) per share, compared to a net income of $13.5 million, or $0.20 per share, in Q3 2020. Adjusted EBITDA rose to $35.5 million compared to $34.6 million in 2020.
Net Sales increased 19.8% to $159.7 million compared to $133.3 million in 2020.
Gross Profit increased 17.4% to $65.2 million compared to $55.5 million last year.
Net Loss of $(30.2) million, or $(0.28) per share, compared to Net Income of $13.5 million, or $0.20 per share, in third quarter 2020.
Adjusted EBITDA rose to $35.5 million compared to $34.6 million in 2020.
Holley
Holley
Forward Guidance
Company reiterates fiscal 2021 Net Sales expected to range between $648 million-$663 million, Pro Forma Net Sales between $655 million-$670 million, and Pro Forma Adjusted EBITDA between $165 million-$170 million