Horizon Global reported net sales of $222.1 million, an increase of $101.6 million over the second quarter of last year. Net income in the quarter was $1 million, an improvement over the same quarter a year ago of $17.7 million.
“The positive momentum from the back half of 2020 and Q1 2021 continued into Q2 2021 as we once again realized significant profitability improvement across the business,” said Terry Gohl, Horizon Global’s president and CEO. “Given the impact of the global pandemic in 2020, we are comparing our Q2 2021 results against both Q2 2020 and Q2 2019. The company has come a long way in two years, and we expect this positive momentum to continue into future periods.
“Our strong financial results for Q2 2021 reflect the solid foundation we have built since we launched our turnaround plan in late 2019,” Gohl said. “We now have the talent, business processes and manufacturing and distribution capabilities to support profitable growth on an accelerated timetable. During the quarter, the team demonstrated extraordinary resilience as we encountered major macroeconomic headwinds relating to material costs, supply chain and logistics. While we dealt with these headwinds on a daily or even hourly basis, we did not lose focus of our strategic plan as we continued to identify and execute business improvement initiatives to improve our operational and financial performance.”
