24/7 Market News Snapshot 11 March, 2025 – Holley Inc. (NYSE:HLLY)
DENVER, Colo., 11 March, 2025 (247marketnews.com) – (NYSE:HLLY) are discussed in this article.
Holley Inc. (HLLY), a prominent player in the automotive aftermarket performance sector, has recently garnered significant attention in the financial markets, reflected by a noteworthy increase in its stock price. Opening at $2.82 and currently trading at $2.895, Holley’s shares have surged 20.63%, following a closing price of $2.400 in the previous session. This substantial movement accompanies a robust trading volume of 947.72K shares, indicating a strong bullish sentiment among investors and robust market interest.
In conjunction with positive stock market activity, Holley has reported its financial results for the fourth quarter and full year ending December 31, 2024. Despite facing a challenging macroeconomic environment, the company showcased resilience with quarterly net sales of $140.1 million, down 10.1% year-over-year. A net loss of $37.8 million for the quarter was primarily driven by non-cash goodwill and trademark impairment charges amounting to $48.6 million. However, a significant highlight was the adjusted net income of $12.6 million, marking a notable recovery from an adjusted net loss in the prior year.
For the full year, Holley recorded net sales of $602.2 million, reflecting an 8.7% year-over-year decline. Nevertheless, the company demonstrated commendable growth in several key areas, including a 12% increase in national retailer sales and a 16% growth in its brand portfolio. Its eCommerce sales exceeded $100 million, bolstered by strategic initiatives aimed at enhancing customer engagement.
Looking forward, Holley’s CEO, Matthew Stevenson, indicated optimism for 2025, citing a focus on empowering teams and investing in innovation. The company forecasts net sales growth of 0.8% to 4.3% for the upcoming year, showcasing its commitment to recover and thrive amidst market challenges while continuing to strengthen its position within the performance solutions sector.