Horizon Global (HZN) Tops Q2 EPS by 14c, Revenues Miss
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Horizon Global Reports Financial Results for Second Quarter 2018; Updates Progress on Action Plan
August 7, 2018 6:30 AM EDTBusiness Update
Delivered progress against previously announced Action Plan, with Americas workforce reductions and facility consolidation complete Kansas City distribution center improved shipping volumes, resulting in a $9 million reduction of past due orders from peak levels of approximately $26 million Net sales of $233.3 million, down 8.0 percent Net sales declined 10.5 percent in constant currency(3) Non-cash goodwill impairment of $55.7 million in Europe-Africa segment Operating loss of $64.1 million, operating profit margin of (27.5) percent Adjusted operating profit(1) of $13.8 million, adjusted operating profit(1) margin of 5.9 percent... More