Holley Inc Reports Earnings for Second Quarter of FY2023
August 25, 2023
🌥️Earnings Overview
Holley Inc ($NYSE:HLLY) disclosed their financial results for the second quarter of the fiscal year 2023, which ended on June 30, 2023, on August 10, 2023. Revenue came in at USD 175.3 million, a 2.3% dip from the same time period last year. Net income for the quarter was USD 13.0 million, a 68.0% drop compared to the previous year.
Price History
This sharp increase in stock price was driven by positive results from the company’s higher-than-expected revenue and earnings for the quarter. Overall, these strong figures prove that Holley Inc is in a great position to meet the challenges of the current market environment and deliver high returns for its investors in the years ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Holley Inc. More…
| Total Revenues | Net Income | Net Margin |
| 656.41 | 33.58 | 2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Holley Inc. More…
| Operations | Investing | Financing |
| 25.86 | -3.98 | -10.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Holley Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.25k | 815.25 | 3.71 |
Key Ratios Snapshot
Some of the financial key ratios for Holley Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.1% | 1.8% | 13.0% |
| FCF Margin | ROE | ROA |
| 2.9% | 12.5% | 4.3% |
Analysis
At GoodWhale, we recently conducted an analysis of the wellbeing of HOLLEY INC. After examining the company’s financials and operations, we have determined that HOLLEY INC is a high risk investment according to our Risk Rating. Upon further inspection, we have identified 3 risk warnings in the income sheet, balance sheet, and cashflow statement. For more information, we invite you to become a registered user with GoodWhale and have a closer look at the details of our findings. More…
Peers
In the automotive industry, there is intense competition between suppliers of parts and systems. One such area of competition is between Holley Inc and its competitors Schaeffler India Ltd, Mingxin Automotive Leather Co Ltd, and CIE Automotive SA. Each company is striving to develop innovative products and processes that will give them a competitive advantage in the marketplace.
– Schaeffler India Ltd ($BSE:505790)
Schaeffler India Ltd is an engineering company that manufactures and supplies automotive and industrial products. It has a market cap of 456.01B as of 2022 and a ROE of 18.35%. The company’s products include bearings, engine parts, transmission parts, and chassis parts.
– Mingxin Automotive Leather Co Ltd ($SHSE:605068)
Mingxin Automotive Leather Co Ltd is a leading manufacturer of automotive leather products. The company has a market cap of 4.74B as of 2022 and a ROE of 3.57%. Mingxin Automotive Leather Co Ltd manufactures and supplies a wide range of automotive leather products, including seat covers, steering wheel covers, shift knobs, and other interior trim products. The company’s products are used by major automakers worldwide.
– CIE Automotive SA ($LTS:0DZC)
CIE Automotive SA is a leading Spanish automotive supplier with a market cap of 2.84B as of 2022. The company has a strong focus on the production of light alloys, stampings, and assemblies for the automotive industry. CIE Automotive SA also has a strong presence in the European market, with a return on equity of 26.38%.
Summary
Investors responded favorably to HOLLEY INC‘s second quarter earnings report for FY2023, despite the company’s total revenue decreasing 2.3% year-over-year and net income dropping a hefty 68.0%. The stock price rose on the news, indicating that investors were optimistic about the company’s ability to recover from the decline. Going forward, investors should continue to watch HOLLEY INC’s financial performance closely and consider opportunities to buy or sell as appropriate. Although the company is facing short-term headwinds, HOLLEY INC could still be a good long-term investment if they can make the necessary adjustments to return to profitability.
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