Horizon Global (HZN) Reports Q2 Loss of $0.64/sh
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Horizon Global Reports Financial Results for Second Quarter 2020
August 7, 2020 6:30 AM EDTSecond Quarter Highlights
Improved Cash and Availability(3) to $45.5 million Refinanced First and Second Lien Term Loans into single term loan facility; extends maturity, maintains interest rate level and supports Companys long-term strategic plan Net sales of $120.5 million; down $72.2 million, or 37.5%, compared to prior year comparable period, largely attributable to decreased sales volumes due to impact of COVID-19 pandemic Operating loss of $(8.0) million; unfavorable $10.7 million compared to prior year comparable period Net loss from continuing operations of $(16.7) million; unfavorable $5.6 million compared to prior year comparable period Adjusted EBITDA(2) above... More