Holley Inc. (HLLY) Meets Q2 Earnings Estimates

Company Performance - Holley Inc. reported quarterly earnings of $0.10 per share, matching the Zacks Consensus Estimate, but down from$0.14 per share a year ago [1] - The company posted revenues of $169.5 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.49$175.26 million year-over-year [2] - Holley has not surpassed consensus EPS estimates in the last four quarters and has experienced a 29.8% decline in share price since the beginning of the year [3][6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of$161.34 million, and for the current fiscal year, it is $0.25 on revenues of$654.7 million [7] - The trend for earnings estimate revisions for Holley is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - Holley operates within the Automotive - Original Equipment industry, which is currently ranked in the bottom 14% of over 250 Zacks industries, suggesting a challenging environment [8] - The performance of Holley’s stock may be influenced by the overall outlook for the industry, as top-ranked industries tend to outperform lower-ranked ones significantly [8]