NYSE$HLLY
Holley Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong third quarter results with year-over-year revenue growth and meaningfully improved margins through operational improvements.
Holley reported a 1.1% increase in net sales to $156.5 million, a 20.6% increase in gross profit to $58.4 million, and a net income of $0.8 million, or $0.01 per diluted share. The company's adjusted EBITDA was $29.7 million, and free cash flow was $21.7 million. Holley also reduced its debt by $25 million in September.
- Net sales increased by 1.1% to $156.5 million compared to the prior year.
- Gross profit increased by 20.6% to $58.4 million, with a gross margin of 37.3%.
- Net income was $0.8 million, or $0.01 per diluted share, compared to $31.6 million, or $0.27 per diluted share, last year.
- Adjusted EBITDA was $29.7 million compared to $16.4 million last year, with a margin of 19.0% versus 10.6% last year.
Headline financials
Revenue & EPS history
Holley · Revenue · Quarterly
$157M
Forward guidance
Holley revised its outlook for 2023 for certain guidance in comparison to the outlook provided by Holley in its earnings release on August 10, 2023.
Tailwinds
- Net Sales: $645 - $675 million (Previous Outlook: $635 - $675 million)
- Adjusted EBITDA: $123 - $128 million (Previous Outlook: $118 - $128 million)
- Capital Expenditures: $6 - $8 million (Previous Outlook: $5 - $10 million)
- Depreciation and Amortization Expense: $24 - $26 million (Previous Outlook: $23 - $25 million)
- Interest Expense: $58 - $62 million (Previous Outlook: $58 - $62 million)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+5.4%
Avg return
Earnings day
+4.0%
Avg return
5 days after
+1.0%
Avg return
30 days after
59%
13 / 22 earnings
Positive
+49.5%
Q4 2022
Best reaction
-14.6%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -13.0% | -17.6% | -22.4% | |
| Q4 2025 | -12.7% | -16.2% | -22.3% | |
| Q3 2025 | +36.8% | +41.0% | +57.5% | |
| Q1 2025 | -14.6% | +7.2% | +2.4% | |
| Q4 2024 | +24.2% | +0.4% | -4.2% | |
| Q3 2024 | +3.6% | -1.1% | -0.4% | |
| Q2 2024 | -8.2% | -12.3% | -9.6% | |
| Q1 2024 | -3.6% | -5.8% | -13.4% | |
| Q4 2023 | -11.5% | -13.0% | -8.0% | |
| Q3 2023 | -14.0% | -11.8% | +0.5% | |
| Q2 2023 | +27.2% | +18.0% | -15.3% | |
| Q1 2023 | +18.5% | +15.8% | +36.3% | |
| Q4 2022 | +49.5% | +48.0% | +14.6% | |
| Q3 2022 | -4.7% | -6.5% | -23.4% | |
| Q2 2022 | +1.2% | -1.7% | -7.9% | |
| Q1 2022 | +14.2% | +20.9% | +20.0% | |
| Q4 2019 | +8.9% | +5.4% | +1.3% | |
| Q4 2021 | +7.4% | +4.3% | +7.2% | |
| Q3 2021 | +7.1% | +11.3% | +2.7% | |
| Q2 2021 | +1.1% | -2.0% | +4.2% | |
| Q1 2021 | +0.0% | +0.0% | +2.2% | |
| Q4 2020 | +0.3% | +4.3% | +0.8% | |
| Q3 2020 | — | — | — |
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