Horizon Global Corporation, a supplier of towing and trailering equipment, reported preliminary fourth-quarter results reached $164.3 million for the final quarter of 2021, a year-over-year decrease of almost 6.6%. For the full year, however, Horizon Global’s preliminary results reported an 18% sales increase to $782.1 million.
Terry Gohl, Horizon Global’s president and CEO, said the company is disappointed in the results, citing industry-wide, short-term supply chain headwinds as having diminished the company’s results.
“We remain focused on long-term value creation and continue to identify and execute operational improvement initiatives across our global operations,” Gohl said. “Further, with our iconic brands and strong open order book of approximately $58.8 million in North America at the end of 2021, which reflects a 17.4% increase over the end of 2020, we expect to progress against our long-term financial objectives in 2022 and beyond.”
The company will release detailed fourth-quarter and full-year 2021 earnings in March, but released some preliminary, top-view numbers regarding the end of 2021. Net sales for the fourth quarter of 2021 were approximately $164.3 million, an approximate $11.6 million decrease compared with the fourth quarter of 2020.
Adjusted fourth-quarter earnings reported a loss of $8.3-$9.8 million, down from $7.32 million in profits in the fourth quarter of 2020.
