Horizon Global (HZN) Tops Q2 EPS by 2c; Guides FY15 EPS Above Views
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Horizon Global Corporation Reports Second Quarter 2015 Results; Issues Guidance for Income Growth Greater Than 50% in Remainder of 2015
August 10, 2015 7:30 AM EDTKey Highlights
Tax free spin-off completed on June 30, 2015; Horizon Global publicly traded stand-alone company as of July 1, 2015 Sales decreased 11.1 percent to $158.5 million; sales decreased 7.1 percent, excluding the effects of foreign currency translation. Cequent Americas sales decreased 11.5 percent; Cequent APEA sales increased 4.8 percent in local currency Announced a set of consolidation actions resulting in an expected cumulative savings of greater than $10 million on an annual run rate Earnings per share of $0.12 per diluted share. Excluding Special Items(1), earnings per share would have been $0.30 per diluted share Guidance... More