Horizon Global (HZN) Posts Q4 Loss of $1.07/Sh

Horizon Global (NYSE: HZN) reported Q4 EPS of ($1.07), $0.95 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $183.61 million versus the consensus estimate of $169.25 million.

GUIDANCE:

Horizon Global sees FY2017 EPS of $0.90-$1.00.

“The close of 2016 marks the achievement of two significant milestones,” said A. Mark Zeffiro, President and Chief Executive Officer of Horizon Global. “We completed our first calendar year as an independent public company, and second, we achieved one of our key financial priorities by delivering 10.0 percent adjusted segment operating margin, excluding Westfalia.

“We made great progress in the last twelve months, including the acquisition of Westfalia, a European leader in towing products that addresses a geographic gap in our global footprint. Similar to the Horizon Global legacy business, Westfalia experiences volume seasonality in both the OE and aftermarket channels, with the fourth quarter historically representing the lowest quarterly revenue during the calendar year. We remain focused on the integration of the Westfalia business, with a continued expectation of realizing €9 million of synergies in 2017.”

For earnings history and earnings-related data on Horizon Global (HZN) click here.

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