Horizon Global (HZN) Reports In-Line Q3 EPS, Beats on Revenues; Reaffirms FY17 EPS Outlook

Horizon Global (NYSE: HZN) reported Q3 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $240.1 million versus the consensus estimate of $228.35 million.

Outlook

For full-year 2017, the Company expects:

• Revenue growth of 38 to 41 percent; increased
• Operating profit between $38.2 million and $44.2 million, up 320 to 380 basis points; revised
  • Adjusted operating profit(3) between $53 million and $59 million; unchanged, and up 20 to 70 basis points; revised
• Operating cash flow between $40.0 million and $50.0 million; unchanged
• Diluted earnings per share between $0.50 and $0.60; unchanged
  • Adjusted diluted earnings per share(3) between $1.04 and $1.14; unchanged

Zeffiro concluded, “As we look toward 2018, we believe the momentum from our revenue and margin initiatives supports double-digit earnings per share growth. We expect to continue driving our business forward in all of our geographies, as we also focus on our key strategic priorities and continuing to build the best team in our industry.”

GUIDANCE:

Horizon Global sees FY2017 EPS of $1.04-$1.14, versus the consensus of $1.09.

Business Update

• Third quarter diluted earnings per share of $0.27
  • Third quarter adjusted diluted earnings per share(1) of $0.38
• Net sales increased from $151.7 million to $240.1 million, up 58.3%
• Westfalia integration and synergies on track
• Full-year 2017 earnings per share guidance reaffirmed
  • Diluted earnings per share between $0.50 and $0.60
  • Adjusted diluted earnings per share(2) between $1.04 and $1.14

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

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