Horizon Global (HZN) Misses Q1 EPS by 18c, Revenue Beats

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Horizon Global Reports Financial Results for First Quarter 2018; Updates Progress on Targeted Action Plan

May 3, 2018 6:30 AM EDT

Business Update

Progress against previously announced targeted action plan, including workforce reductions and facility consolidation Net sales increased from $203.3 million to $216.8 million, up 6.6 percent Net sales relatively flat in constant currency(3) Non-cash goodwill impairment of $43.4 million in the Europe-Africa segment negatively impacted consolidated operating results Operating loss of $(53.3) million, operating margin of (24.6) percent Adjusted operating profit(1) of $(2.9) million, adjusted operating profit(1) margin of (1.4) percent First quarter diluted earnings per share of $(2.30)... More