Holley Reports Q3 EPS 1c consensus 3c

Reports Q3 revenue $156.5M, consensus $155.82M.Reports adjusted EBITDA was $29.7Mcompared to $16.4Mlast year with a margin of 19.0% versus 10.6% last year…Net Cash Provided by Operating Activities was $22.5 M compared to ($8.7M) last year.”Holley delivered strong third quarter results, highlighted by a return to top-line growth and marked improvement in key profitability metrics,” said Matthew Stevenson, Holley’s President and Chief Executive Officer. “Our efforts to strengthen Holley’s employee and customer relationships and optimize our operations are taking hold, and we are highly confident in our ability to continue delivering on our key strategic priorities and drive long-term sustainable growth for our shareholders.” “Consumer and customer engagement programs remain central to Holley’s ongoing business transformation, and during the quarter we were proud to celebrate a record-setting season of enthusiast consumer events,” Stevenson continued. “Additionally, in an effort to strategically align our brand and business portfolio with the emerging needs of our customer, we established seven distinct product category teams. This new organizational design is one of many steps underway to further strengthen our customer focus and drive growth.” Stevenson concluded, “On behalf of our executive leadership team, I would like to thank our employees for their personal commitment and great teamwork as well as our customers and distribution partners for their continued enthusiasm and trust in our products.”