Horizon Global (HZN) Reports Q1 Loss of $0.64/sh
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Horizon Global Reports Financial Results for First Quarter 2020
May 18, 2020 6:30 AM EDTFirst Quarter Highlights
Successfully amended ABL facility to stabilize liquidity and support future operating flexibility Net sales decreased $14.4 million, or 8.1%, to $163.3 million from prior year comparable period, primarily attributable to lower sales volumes due to the COVID-19 pandemic Operating loss of $6.7 million, or 4.1% of net sales; improvement of $6.7 million over prior year comparable period Net loss from continuing operations of $16.5 million; improvement of $12.9 million from prior year comparable period Adjusted EBITDA(2) increased $4.0 million to $2.9 million from prior year comparable period due to improved gross profit and lower SG&A... More