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NEW YORK - Holley Inc. (NYSE:HLLY) shares rose 3.7% in premarket trading on Tuesday after the automotive aftermarket performance solutions provider reported fourth quarter results that beat analyst expectations.
The Bowling Green, Kentucky-based company posted adjusted earnings per share of $0.11, surpassing the consensus estimate of $0.01. Revenue came in at $140.1 million, above the $137.55 million analysts were expecting.
Net sales decreased 10.1% year-over-year to $140.1 million in Q4, while full year 2024 revenue fell 8.7% to $602.2 million. However, adjusted EBITDA for the quarter increased slightly to $29.1 million compared to $28.5 million in the prior year period.
"2024 was an incredibly transformative year for Holley, marked by meaningful enhancements across the entire organization," said Matthew Stevenson, President and CEO of Holley. "Despite operating in a challenging macroeconomic environment for consumers, we are demonstrating significant strides that, we believe, are coming to fruition in several areas of our business."
The company reported growth in its direct-to-consumer and national retailer segments of 8% and 12% respectively in 2024. It also achieved over $100 million in eCommerce sales for the year.
For full year 2025, Holley expects revenue between $580 million to $600 million and adjusted EBITDA of $113 million to $130 million.
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