Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates through Horizon Americas and Horizon Europe-Africa segments. The company provides towing products, such as hitches/tow bars, fifth wheels, gooseneck hitches, weight distribution systems, brake controls, wiring harnesses, draw bars, ball mounts, crossbars, security products, and other towing accessories for attaching a trailer, camper, etc. It also offers trailering products, including brake controls, jacks, winches, couplers, interior and exterior vehicle lighting, and brake replacement parts. In addition, the company provides cargo management products comprising bike racks, roof cross bar systems, cargo carriers, luggage boxes, car interior protective products, loading ramps, and interior travel organizers. Further, it offers other products consisting of tubular push and sports bars, side steps, skid plates, and oil pans. The company sells its products under the Reese, Draw-Tite, Westfalia, Bulldog, BTM, and DHF, as well as Engetran, Fulton, Reese Secure, Reese Explorer, Reese Power Sports, Reese Towpower, ROLA, Tekonsha, WesBarg, and Witter Towbar brands. It serves original equipment(OE) manufacturers and servicers, as well as automotive aftermarket and retail sectors in the agricultural, automotive, construction, fleet, horse/livestock, industrial, marine, military, recreational, trailer, utility, and municipality markets; and consumers through OEs, mass merchants, e-commerce channels, distributors, dealers, and independent installers. The company was incorporated in 2015 is headquartered in Plymouth, Michigan.
IPO Year: 2015
Exchange: NYSE
Website: horizonglobal.com
Horizon Global Corporation (NYSE:HZN) (the "Company"), announced today that the Company's Board of Directors (the "Board") appointed John C. Kennedy as Interim President and Chief Executive Officer. Kennedy will continue to serve as Chair of the Board. This appointment follows the Board's acceptance of Terrence G. Gohl's resignation from his executive positions and as a director. "We remain focused on our strategic alternatives process, with our clear objective being to enhance shareholder value," stated Kennedy. "We look forward to providing an update on this process when appropriate. Further, as we assess the best long-term path for the Company, we are determined to leverage our best-in-
Horizon Global Corporation (NYSE:HZN), one of the world's leading manufacturers of branded towing and trailering equipment, announced today that the Company's Board of Directors appointed Jian James Zhou as Chief Financial Officer, effective immediately. Mr. Zhou most recently served as executive vice president and chief financial officer for Joyson Safety Systems, a leading global supplier of mobility safety components and systems. Prior to joining Joyson, Mr. Zhou served as vice president and chief financial officer for Tesla China and supported Tesla's successful entry into China's electric vehicle market. Mr. Zhou previously served in divisional chief financial officer roles for Ingers
Horizon Global Corporation (NYSE:HZN), the world's leading manufacturer of branded towing and trailering equipment, announced today that the Company's Board of Directors appointed Donna M. Costello as a Director, effective June 16, 2021. Ms. Costello was appointed to the Board's Audit Committee. Ms. Costello has extensive experience as both a public company executive and board member, with deep financial expertise and a proven track record as a strategic business leader across multiple industries. Ms. Costello previously served as Chief Financial Officer of C&D Technologies ("C&D"), a manufacturer and marketer of systems for power conversion and storage of electrical power, from 2016 to 20
Third Quarter Summary Strategic alternatives process ongoing with objective to maximize shareholder value Focus on margin improvement through commercial actions, key business initiatives and cost structure optimization Net sales of $149.0 million $47.5 million decrease from third quarter of 2021 Gross profit of $16.7 million $22.1 million decrease from third quarter of 2021 Gross profit margin(4) decreased to 11.2% from 19.7% in third quarter of 2021 Net loss of $25.7 million $22.9 million deterioration from third quarter of 2021 Adjusted EBITDA(1) of $(5.9) million $18.9 million decrease from third quarter of 2021 Horizon Global Corporation (NYSE:HZN), one o
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's third quarter 2022 results on Wednesday, November 9, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and James Zhou, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call. The third quarter 2022 results and supplemental materials, including a presentation in PDF format, will be distributed before the market opens on No
Second Quarter Summary Net sales of $181.2 million $40.9 million decrease from second quarter of 2021 Gross profit of $20.7 million $26.6 million decrease from second quarter of 2021 Gross profit margin(4) decreased to 11.4% from 21.3% in second quarter of 2021 Net loss of $22.4 million $23.4 million deterioration from second quarter of 2021 Adjusted EBITDA(1) of $(3.9) million $21.9 million decrease from second quarter of 2021 Issued $41.0 million of Series B Preferred Stock in exchange for $40.0 million of Convertible Senior Notes ("Convertible Notes"), which were cancelled effective June 27, 2022 Remaining $85.0 million of Convertible Notes repaid on July 1,
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's second quarter 2022 results on Tuesday, August 9, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and James Zhou, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call. The second quarter 2022 results and supplemental materials, including a presentation in PDF format, will be distributed before the market opens on Augu
First Quarter Summary Net sales of $180.9 million $18.3 million decrease from first quarter of 2021 Gross profit of $20.2 million $20.4 million decrease from first quarter of 2021 Gross profit margin(4) decreased to 11.2% from 20.4% in the first quarter of 2021 Net loss of $27.0 million $11.8 million deterioration from first quarter of 2021 Adjusted EBITDA(1) of $(6.6) million $19.3 million reduction from first quarter of 2021 Horizon Global Corporation (NYSE:HZN), one of the leading manufacturers of branded towing and trailering equipment, today reported financial results for the first quarter of 2022. "We are extremely disappointed with our results for the fir
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's first quarter 2022 results on Thursday, May 5, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and Dennis Richardville, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call, conference identification number 10165103. The first quarter 2022 results and supplemental materials, including a presentation in PDF format, wil
Fourth Quarter Highlights Net sales of $164.3 million $11.6 million decrease from fourth quarter of 2020 Gross profit of $16.0 million $16.9 million decrease from fourth quarter of 2020 Gross profit margin(4) decreased to 9.7% from 18.7% in the fourth quarter of 2020 Net loss from continuing operations of $16.2 million $10.3 million deterioration from fourth quarter of 2020 Adjusted EBITDA(1) of $(8.0) million $15.3 million decrease from fourth quarter of 2020 Full Year Highlights Net sales of $782.1 million $120.9 million increase compared to prior year Gross profit of $142.6 million $22.0 million increase compared to prior year Gross profit margin
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's fourth quarter and full year 2021 results on Thursday, March 10, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and Dennis Richardville, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call, conference identification number 10155642. The fourth quarter and full year 2021 results and supplemental materials, including
Horizon Global Corporation (NYSE:HZN), one of the leading manufacturers of branded towing and trailering equipment, today announced an amendment to the agreement governing its term loan with Atlantic Park Strategic Capital Fund, L.P. ("Atlantic Park") and the execution of a commitment letter to issue, solely at the Company's option, up to $40.0 million of a new Series B Preferred Stock to Corre Partners Management, L.L.C. ("Corre") to facilitate meeting the Company's upcoming convertible note maturity. In addition, the Company announced its preliminary fourth quarter and full year financial results for the period ended December 31, 2021. Term Loan Agreement Amendment and Series B Preferred
Third Quarter Highlights Net sales of $196.5 million in a period impacted by rising commodity costs and global supply chain constraints $5.0 million decrease compared to third quarter of 2020 Gross profit of $38.8 million $4.6 million decrease from third quarter of 2020 Gross profit margin(4) decreased to 19.7% from 21.5% in the third quarter of 2020 Operating profit of $6.3 million $2.3 million decrease from third quarter of 2020 Net loss from continuing operations of $2.8 million $4.4 million decrease from third quarter of 2020 Adjusted EBITDA(1) of $13.0 million $3.1 million decrease from third quarter of 2020 Horizon Global Corporation (NYSE:HZN), one o
First Brands Group, LLC ("First Brands") and Horizon Global Corporation ("Horizon Global") today announced that following the successful completion of First Brands' tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global (NYSE:HZN) at a price of $1.75 per share (the "Common Stock Offer Price"), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisitio
First Brands Group, LLC ("First Brands") and Horizon Global Corporation ("Horizon Global") today announced that First Brands' tender offer to purchase (a) any and all issued and outstanding shares of common stock of Horizon Global (NYSE:HZN) at a price of $1.75 per share (the "Common Stock Offer Price"), and (b) any and all issued and outstanding shares of Series B preferred stock of Horizon Global at a price equal to the Redemption Price (pursuant to the Certificate of Designations, Preferences and Rights of Series B Preferred Stock of Horizon Global Corporation) per share of Series B preferred stock calculated as of the closing date of the acquisition of Horizon Global (the "Preferred Sto
Horizon Global Corporation (NYSE:HZN) ("Horizon Global"), one of the world's leading manufacturers of branded towing and trailering equipment, today announced it has entered into a definitive merger agreement with First Brands Group, LLC ("First Brands"), a global automotive parts manufacturer that serves the worldwide automotive aftermarket, pursuant to which First Brands will acquire Horizon Global (the "Transaction"). The terms of the Transaction include an all-cash tender offer, which upon successful closing will entitle each stockholder of Horizon Global's common stock to receive cash consideration of $1.75 per share. Highlights of the Transaction: The Transaction will result in a c
Horizon Global Corporation (NYSE:HZN) (the "Company"), announced today that the Company's Board of Directors (the "Board") appointed John C. Kennedy as Interim President and Chief Executive Officer. Kennedy will continue to serve as Chair of the Board. This appointment follows the Board's acceptance of Terrence G. Gohl's resignation from his executive positions and as a director. "We remain focused on our strategic alternatives process, with our clear objective being to enhance shareholder value," stated Kennedy. "We look forward to providing an update on this process when appropriate. Further, as we assess the best long-term path for the Company, we are determined to leverage our best-in-
Horizon Global Corporation (NYSE:HZN) (the "Company") announced today that it received a notice November 7, 2022 (the "Notice") from the New York Stock Exchange (the "NYSE") indicating that the Company is no longer in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30 trading-day period. The Company will notify the NYSE of its intent to cure the stock price deficiency and return to compliance with the continued listing standard. The Company can regain compliance at any time within the six-month cure period following receipt of the Notice, if, on the last tradin
Third Quarter Summary Strategic alternatives process ongoing with objective to maximize shareholder value Focus on margin improvement through commercial actions, key business initiatives and cost structure optimization Net sales of $149.0 million $47.5 million decrease from third quarter of 2021 Gross profit of $16.7 million $22.1 million decrease from third quarter of 2021 Gross profit margin(4) decreased to 11.2% from 19.7% in third quarter of 2021 Net loss of $25.7 million $22.9 million deterioration from third quarter of 2021 Adjusted EBITDA(1) of $(5.9) million $18.9 million decrease from third quarter of 2021 Horizon Global Corporation (NYSE:HZN), one o
Horizon Global (NYSE:HZN) announced today that it will host a conference call regarding the Company's third quarter 2022 results on Wednesday, November 9, 2022, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global's President and Chief Executive Officer Terry Gohl, and James Zhou, Chief Financial Officer. Participants on the call are asked to register five to ten minutes prior to the scheduled start time by dialing (844) 825-9786 and from outside the U.S. at (412) 902-4185. Please ask to join the Horizon Global call. The third quarter 2022 results and supplemental materials, including a presentation in PDF format, will be distributed before the market opens on No
Experience the ultimate in sway control and weight distribution. All-in-one system features pro-active sway control to resist trailer sway before it begins! Horizon Global Corporation (NYSE:HZN), one of the world's leading manufacturers of branded towing and trailering equipment, announced today the launch of its all-in-one towing solution, the REESE® Dual Cam™ II (part numbers: 66091, 66092, 66093). The newly redesigned, integrated weight distribution and sway control system is now available for purchase at REESE dealers nationwide, www.reeseprod.com, and automotive aftermarket e-commerce sites. This press release features multimedia. View the full release here: https://www.businesswire.c
Second Quarter Summary Net sales of $181.2 million $40.9 million decrease from second quarter of 2021 Gross profit of $20.7 million $26.6 million decrease from second quarter of 2021 Gross profit margin(4) decreased to 11.4% from 21.3% in second quarter of 2021 Net loss of $22.4 million $23.4 million deterioration from second quarter of 2021 Adjusted EBITDA(1) of $(3.9) million $21.9 million decrease from second quarter of 2021 Issued $41.0 million of Series B Preferred Stock in exchange for $40.0 million of Convertible Senior Notes ("Convertible Notes"), which were cancelled effective June 27, 2022 Remaining $85.0 million of Convertible Notes repaid on July 1,
Horizon Global Corporation (NYSE:HZN), one of the world's leading manufacturers of branded towing and trailering equipment, today announced that the Company's Board of Directors has authorized the review of strategic alternatives to enhance shareholder value. Such strategic alternatives could involve a sale of a portion or the entirety of the business. "Our objective is to maximize shareholder value," stated Horizon Global's Board Chair John C. Kennedy. "We have received inbound interest in the Company and, given this level of interest, the Board has made the decision to review strategic alternatives. We believe there is significant value tied to our best-in-class products, iconic brands a
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