AcquisitionsMay 6, 2026, 07:37 AM
Holley Acquires HRX S.r.l.; Q1 Net Income $7.26M, Sales $147.33M
AI Summary
Holley Inc. acquired HRX S.r.l., an Italian motorsports racewear brand, on March 18, 2026, expanding its European motorsports presence. For the thirteen weeks ended March 29, 2026, the company reported a significant increase in net income to $7.26 million, up from $2.82 million in the prior year. Net sales, however, decreased to $147.33 million from $153.04 million. The company also noted ongoing efforts to mitigate impacts from tariffs, inflation, and supply chain disruptions.
Key Highlights
- Holley acquired HRX S.r.l. on March 18, 2026, expanding its European motorsports racewear portfolio.
- Net income for Q1 2026 increased to $7.257 million, up from $2.817 million in Q1 2025.
- Net sales for Q1 2026 decreased to $147.330 million from $153.044 million in Q1 2025.
- Basic net income per share rose to $0.06 in Q1 2026, compared to $0.02 in Q1 2025.
- Operating income for Q1 2026 was $17.508 million, a decrease from $19.343 million in Q1 2025.
- Interest expense, net, decreased to $9.917 million in Q1 2026 from $15.708 million in Q1 2025.
- Net cash used in operating activities improved to $(2.857) million from $(7.850) million year-over-year.
- Total assets increased to $1,178.809 million as of March 29, 2026, from $1,163.953 million.