Holley

Nov 08, 2024

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Sep 29, 2024

Holley Q3 2024 Earnings Report

Delivered third quarter financial results within guidance; experienced growth in key areas due to strategic initiatives; completed a successful event season with strong enthusiast engagement.

Key Takeaways

Holley Performance Brands reported third-quarter results with net loss of $(6.3) million, and adjusted net loss of $(0.5) million. The company saw a 16% year-over-year increase in direct-to-consumer channel and a 10% median lift in B2B out-the-door sales during event windows. Distributor inventory normalization impacted overall quarterly sales.

Digital modernization and customer service optimization have been upgraded within the last year and are well positioned to drive organic growth.

Marketing events helped drive a 16% year-over-year increase in the direct-to-consumer channel.

The company saw a 10% median lift in B2B out-the-door sales during the event windows.

Moody’s Ratings Upgrades Holley’s CFR to B2.