Shares of Holley Inc. were lower in the late-trading session after the company reported some preliminary second-quarter results and provided an updated outlook for fiscal year 2022.
At 6:05 p.m. ET, the company’s shares had fallen 6.08% to trade at $11.90 each. The stock finished the day’s regular session with a 4.28% gain, closing at $12.67 per share.
After the bell, Holley reported second-quarter preliminary net sales of $179.4 million, down 7.1% from the year-ago period. Holley also reported preliminary second-quarter net income of $40.6 million, up $17.5 million from the second quarter of 2021.
The company said it is still conducting financial closing procedures for the second quarter.
Holley also said it was expecting 2022 net sales in a range between $700 million and $725 million, below its previous guidance of a range between $765 million and $790 million.
Holley said it designs, makes and markets high-performance products for car and truck enthusiasts.