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Horizon Global Corp (HZN.N)

HZN.N on New York Stock Exchange

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19 Apr 2018
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Latest Key Developments (Source: Significant Developments)

Horizon Global Sees FY 2017 Revenue Up 37.2 To 37.6 Pct
Thursday, 25 Jan 2018 

Jan 25 (Reuters) - Horizon Global Corp ::HORIZON GLOBAL ANNOUNCES REVISED EXPECTATIONS FOR 2017 RESULTS.SEES FY 2017 REVENUE UP 37.2 TO 37.6 PERCENT.SEES 2017 DILUTED LOSS PER SHARE IN RANGE OF $0.02 TO $0.08.SEES ‍2017 OPERATING PROFIT OF $34.0 MILLION TO $36.0 MILLION, REVISED FROM PRIOR GUIDANCE OF $38.2 MILLION TO $44.2 MILLION​.SEES 2017 ADJUSTED DILUTED EARNINGS PER SHARE IN RANGE OF $0.88 TO $0.96.2017 ‍REVISED EXPECTATIONS RESULTED FROM A NUMBER OF FACTORS IN COMPANY'S BUSINESS​.‍HORIZON AMERICAS' REVENUE FELL BELOW EXPECTATIONS FOR FY DUE TO SALES SHORTFALL, DELIVERY DELAYS DURING Q4​.HORIZON GLOBAL - ‍HORIZON EUROPE-AFRICA'S 2017 OPERATING PROFIT FELL BELOW EXPECTATIONS DUE TO UNFAVORABLE SALES MIX, INCREASED MATERIAL COSTS​.HORIZON GLOBAL- 2017 DILUTED EPS WERE REDUCED BY ESTIMATE OF EFFECTS ON EXISTING DEFERRED TAX BALANCES, ONE-TIME TRANSITION TAX UNDER TAX REFORM.FY2017 EARNINGS PER SHARE VIEW $1.08, REVENUE VIEW $904.7 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Horizon Global Americas Says Co, Hopkins Manufacturing Agreed To Amicably Resolve 4 Year Old Patent Rights Dispute
Thursday, 21 Dec 2017 

Dec 20 (Reuters) - Horizon Global Corp ::HORIZON GLOBAL AMERICAS - CO, HOPKINS MANUFACTURING AGREED TO AMICABLY RESOLVE 4 YEAR OLD DISPUTE OVER PATENT RIGHTS TO THEIR ELECTRONIC BRAKE CONTROLLERS.HORIZON GLOBAL AMERICAS - AS PER AGREEMENT, HOPKINS WILL PAY HORIZON FOR A FULLY PAID LICENSE ON THE PATENTED BRAKE CONTROLLERS INVOLVED IN THE DISPUTE.HORIZON GLOBAL AMERICAS SAYS PARTIES WILL EXECUTE MUTUAL RELEASES WITH SPECIFIC TERMS REMAINING CONFIDENTIAL.  Full Article

Horizon Global To Acquire Brink Group From H2 Equity Partners
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Horizon Global Corp ::HORIZON GLOBAL TO ACQUIRE BRINK GROUP FROM H2 EQUITY PARTNERS.SAYS ‍TRANSACTION EXPECTED TO BE ACCRETIVE IN FIRST FULL YEAR​.SAYS DEAL FOR EUR 169 MILLION.SAYS PURCHASE PRICE WILL BE FINANCED THROUGH NEW LONG-TERM DEBT AND CASH ON HAND.  Full Article

Horizon Global Q3 adjusted earnings per share $0.38
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Horizon Global Corp :Horizon Global reports financial results for third quarter 2017 and reaffirms full-year 2017 earnings per share guidance.Reaffirms FY 2017 earnings per share view $0.50 to $0.60.Q3 adjusted earnings per share $0.38.Q3 earnings per share $0.27.Q3 earnings per share view $0.38 -- Thomson Reuters I/B/E/S.Horizon Global Corp - qtrly ‍net sales increased from $151.7 million to $240.1 million, up 58.3%​.Horizon Global Corp - sees ‍FY 2017 revenue growth of 38 percent to 41 percent​.Q3 revenue view $228.4 million -- Thomson Reuters I/B/E/S.FY2017 earnings per share view $1.09, revenue view $873.0 million -- Thomson Reuters I/B/E/S.Horizon Global Corp - ‍for full-year 2017, company expects operating cash flow between $40.0 million and $50.0 million​.Horizon Global Corp - sees ‍FY 2017 adjusted diluted EPS between $1.04 and $1.14​.Horizon Global - ‍"as we look toward 2018, we believe momentum from our revenue and margin initiatives supports double-digit earnings per share growth"​.  Full Article

Horizon Global Corp enters amendment to loan agreement for incremental revolving facility
Wednesday, 12 Oct 2016 

Horizon Global Corp : Horizon Global-entered into waiver,first amendment to amended, restated loan agreement to amend agreement dated December 22, 2015 - SEC filing .Horizon Global Corp - amendment provide for an incremental revolving facility in an aggregate principal amount of $25 million -SEC filing.  Full Article

Horizon Global to acquire the outstanding equity interests of Westfalia Group
Thursday, 25 Aug 2016 

Horizon Global Corp : Horizon Global says will acquire the outstanding equity interests of the Westfalia Group for consideration of approximately €167 million - SEC Filing . Up fee of approximately €3.5 million .Intends to fund cash payment, as well as repayment of certain of Westfalia Group’S debt, through an expansion of existing term loan.  Full Article

Horizon Global announces agreement to acquire Westfalia-Automotive and Terwa
Thursday, 25 Aug 2016 

Horizon Global Corp : Horizon Global announces agreement to acquire Westfalia-Automotive and Terwa . Intends to fund acquisition, comprised of approximately EUR89 million cash and assumed net debt of EUR42 million . In addition, EUR36 million in Horizon Global common stock will be issued to sellers. .Acquisition will be accretive in 2017 and will provide significant earnings per share accretion in future years.  Full Article

Horizon Global Q2 earnings per share view $0.39 -- Thomson Reuters I/B/E/S
Tuesday, 9 Aug 2016 

Horizon Global Corp : Horizon Global delivers profit improvement for fourth consecutive quarter . Q2 earnings per share $0.40 . Q2 earnings per share view $0.39 -- Thomson Reuters I/B/E/S . Q2 adjusted earnings per share $0.64 . Q2 sales $167.8 million versus I/B/E/S view $166.5 million . "softening consumer confidence in north america along with signs of inflation has resulted in uncertain global order patterns" . Guidance issued for year ended december 31, 2016 remains same as issued on March 1, 2016 . Consolidation of facilities in Mexico is complete and integration of horizon north america businesses is on track .Q2 earnings per share view $0.39 -- Thomson Reuters I/B/E/S.  Full Article

BRIEF-Horizon Global Announces Corporate Governance Changes

* HORIZON GLOBAL - ‍BOARD APPROVED AN AMENDMENT TO AMENDED AND RESTATED CERTIFICATION OF INCORPORATION TO DECLASSIFY COMPANY'S BOARD OF DIRECTORS​