Horizon Global, a manufacturer of branded towing and trailering equipment, reported net sales of $164.3 million in the fourth quarter of 2021, which was an $11.6 million decrease from fourth quarter of 2020. In the Americas, the company had $102.4 million in sales which was a 5.8 percent increase over the same period a year ago.
The company’s net loss in the fourth quarter was $16.2 million.
For the full year, the company had net sales of $782.1 million, an increase of $121 million compared with 2020. Horizon Global suffered a net loss for the year of $33.1 million.
“Horizon Global’s 2021 performance did not meet our expectations,” President and CEO Terry Gohl said. “This performance was driven by an extremely challenging back half of the year as supply chain, logistics and material constraints throttled our net sales levels and drove significantly higher input costs. These constraints will not disappear overnight, but we view them as relatively short-term and believe we are positioned to deliver strong financial results as 2022 progresses. …
“I’d like to take this opportunity to thank the global team for their continued dedication throughout unprecedented circumstances. The foundation of our business is solid, and we remain focused on creating long-term value for shareholders.”
