Horizon Global Reports Financial Results for Second Quarter 2019
Horizon Global Corporation Common Shares (HZN)
Last horizon global corporation common shares earnings: 3/16 06:30 am
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US:NYSE Investor Relations:
investors.horizonglobal.com
Company Research
Source: Business Wire
Business UpdateNet sales decreased $10.2 million, or 4.4%, to $223.2 million from prior year comparable periodDecrease mainly attributable to unfavorable foreign currency translationOn a constant currency(1) basis, net sales decreased 1.3%Operating profit of $7.1 million, or 3.2% of net sales; an improvement of $71.2 million over prior year comparable period, primarily due to a $55.7 million goodwill impairment charge recorded in second quarter 2018Adjusted operating profit(2) of $10.1 million, or 4.5% of net sales; a decrease of $3.7 million from prior year comparable period TROY, Mich.--(BUSINESS WIRE)--Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today reported financial results for the second quarter of 2019."We experienced a slow start to the year, which continued in the second quarter, resulting in a modest decrease in sales, but our team remains focused on returning Horizon Global to its historic
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