Docoh
Loading...

HZN Horizon Global

Headquartered in Plymouth, MI, Horizon Global is the #1 designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company's mission is to utilize forward-thinking technology to develop and deliver best in-class products for its customers, engage with its employees and realize value creation for its shareholders.

Company profile

Ticker
HZN
Exchange
CEO
Terrence Gohl
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Horizon Global Americas Inc. • Westfalia - Automotive GmbH ...

HZN stock data

(
)

Calendar

3 Aug 21
19 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 30.19M 30.19M 30.19M 30.19M 30.19M 30.19M
Cash burn (monthly) 23.33K 817.5K (positive/no burn) (positive/no burn) 3.12M 3.34M
Cash used (since last report) 85.49K 3M n/a n/a 11.44M 12.25M
Cash remaining 30.1M 27.19M n/a n/a 18.75M 17.94M
Runway (months of cash) 1290.2 33.3 n/a n/a 6.0 5.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Sep 21 John Frederick Barrett Common Stock Buy Acquire P Yes No 6.884 10,100 69.53K 2,146,792
16 Sep 21 Corre Partners Management Common Stock Buy Acquire P Yes No 6.884 10,100 69.53K 2,146,792
15 Sep 21 John Frederick Barrett Common Stock Buy Acquire P Yes No 7.037 3,608 25.39K 2,136,692
15 Sep 21 Corre Partners Management Common Stock Buy Acquire P Yes No 7.037 3,608 25.39K 2,136,692
10 Sep 21 Corre Partners Management Common Stock Buy Acquire P Yes No 7.189 15,125 108.73K 2,133,084
10 Sep 21 John Frederick Barrett Common Stock Buy Acquire P Yes No 7.189 15,125 108.73K 2,133,084
9 Sep 21 Corre Partners Management Common Stock Buy Acquire P Yes No 7.196 3,626 26.09K 2,117,959
9 Sep 21 John Frederick Barrett Common Stock Buy Acquire P Yes No 7.196 3,626 26.09K 2,117,959
8 Jul 21 Costello Donna Common Stock Grant Acquire A No No 0 8,188 0 8,188

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 44 2 +2100.0%
Opened positions 42 2 +2000.0%
Closed positions 0 49 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 191M 69.91M +173.2%
Total shares 22.09M 7.81M +182.8%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
TROW T. Rowe Price 4.62M $39.15M NEW
Gasc Apf 3.91M $34.95M 0.0%
Iron Park Capital Partners 3.91M $34.95M 0.0%
Royce & Associates 2.47M $20.92M NEW
Corre Partners Management 2.11M $17.86M NEW
Vanguard 978.49K $8.3M NEW
Manatuck Hill Partners 594.33K $5.04M NEW
Dimensional Fund Advisors 553.27K $4.69M NEW
JPM JPMorgan Chase & Co. 432.64K $3.67M NEW
BLK Blackrock 387.62K $3.29M NEW
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 4.62M +4.62M NEW
Royce & Associates 2.47M +2.47M NEW
Corre Partners Management 2.11M +2.11M NEW
Vanguard 978.49K +978.49K NEW
Manatuck Hill Partners 594.33K +594.33K NEW
Dimensional Fund Advisors 553.27K +553.27K NEW
JPM JPMorgan Chase & Co. 432.64K +432.64K NEW
BLK Blackrock 387.62K +387.62K NEW
Renaissance Technologies 349.4K +349.4K NEW
PKW Parkwood 262.4K +262.4K NEW

Financial report summary

?
Risks
  • Risks Relating to the COVID-19 Pandemic
  • The COVID-19 pandemic has disrupted, and may continue to disrupt, our business, which could result in a material adverse impact to our business, results of operations, cash flow, liquidity and financial condition.
  • Risks Relating to Economic Conditions
  • Our businesses depend upon general economic conditions, and we serve some customers in highly cyclical industries; as such, we may be subject to the loss of sales and margins due to an economic downturn or recession.
  • Many of the markets we serve are highly competitive, which could limit the volume of products that we sell and reduce our operating margins.
  • We may not achieve our strategic goals for margin expansion, liquidity management and organic growth. Our past performance in these areas may not be indicative of future performance. Failure to achieve our strategic goals may adversely impact our results of operations.
  • Increases in our raw material or energy costs or the loss of critical suppliers could adversely affect our profitability and other financial results.
  • Transportation disruptions or increases in our freight cost could adversely affect our profitability and other financial results.
  • Our products are typically highly engineered or customer-driven and we are subject to risks associated with changing technology and manufacturing techniques that could place us at a competitive disadvantage.
  • A portion of our sales is derived from international sources, which exposes us to certain risks which may adversely affect our business and our financial results.
  • A future impairment of our intangible assets or goodwill could have a material negative impact on our financial results.
  • Risks Relating to Human Capital
  • We depend on the services of key individuals, the loss of which could materially harm us.
  • We may be subject to further unionization and work stoppages at our facilities or our customers may be subject to work stoppages, which could seriously impact the profitability of our business.
  • Our healthcare costs for active employees and future retirees may exceed our projections and may negatively affect our financial results.
  • We may face liability associated with the use of products for which patent ownership or other intellectual property rights are claimed.
  • We may be unable to adequately protect our intellectual property.
  • Risks Relating to Financial Matters
  • We have a substantial amount of debt. To service our debt, we will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control. If we cannot generate the required cash, we may not be able to make the necessary payments required under our debt.
  • The terms of the agreements governing our revolving credit facility and our new term loan restrict our current and future operations, particularly our ability to respond to changes or to take certain actions.
  • Our access to new capital may be impacted by fluctuations in interest rates.
  • We have significant operating lease obligations and our failure to meet those obligations could adversely affect our financial condition.
  • Risks Relating to Legal and Regulatory Matters
  • We may incur material losses and costs as a result of product liability, recall and warranty claims that may be brought against us.
  • Our business may be materially and adversely affected by compliance obligations and liabilities under environmental laws and regulations.
  • Changes in laws or regulations or the manner of their interpretation or enforcement could adversely impact our financial performance and restrict our ability to operate our business or execute our strategies.
  • Risks Relating to Cybersecurity
  • A major disruption or failure of our information systems could harm our business.
  • Risks Relating to the Spin-off
  • We remain subject to continuing indemnification liabilities in connection with the Spin-off.
  • Potential liabilities associated with certain assumed obligations under the tax sharing agreement cannot be precisely quantified at this time.
  • Risks Relating to Our Common Stock and Convertible Notes
  • While we are currently in compliance with the NYSE's minimum market capitalization requirement, we could be at risk of being out of compliance and of the NYSE delisting our common stock, which would have an adverse impact on the trading volume, liquidity and market price of our common stock.
  • Our issuance of any additional shares of our common stock, including pursuant to the exercise of instruments convertible into or exercisable for shares of our common stock, or the issuance of additional instruments convertible into or exercisable for shares of our common stock, could materially and adversely affect the market price of our common stock.
  • The conditional conversion features of our Convertible Notes, if triggered, may adversely affect our financial condition.
  • The convertible note hedge transactions (“Convertible Note Hedges”) and warrant transactions (“Warrants”) that we entered into in connection with the offering of our Convertible Notes may affect the value of the Convertible Notes and our common stock.
  • Our reputation, ability to do business and results of operations may be impaired by improper conduct by any of our employees, agents, or business partners.
  • Our stock price may be subject to significant volatility due to our own results or market trends.
  • We may issue preferred stock with terms that could dilute the voting power or reduce the value of our common stock.
  • Anti-takeover provisions contained in our Amended and Restated Certificate of Incorporation, as amended, or our “certificate of incorporation,” and Amended and Restated Bylaws, or our “bylaws,” as well as provisions of Delaware law, could impair a takeover attempt that stockholders may consider favorable.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • You should read the following discussion together with the Company’s reports on file with the Securities and Exchange Commission, as well as our Annual Report on Form 10-K for the twelve months ended December 31, 2020 (See Item 1A. Risk Factors).
  • Headquartered in Plymouth, Michigan, Horizon Global Corporation and its consolidated subsidiaries (“Horizon,” “Horizon Global,” “we,” or the “Company”) are a leading designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products primarily in the North American, European and African markets, primarily servicing the aftermarket, automotive original equipment manufacturers (“automotive OEMs”) and automotive original equipment servicers (“automotive OESs”) (collectively, “OEs”), retail, e-commerce and industrial channels, supporting our customers generally through a regional service and delivery model.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: Brazil, commodity, congestion, divested, located, Mexico, microchip, nominal, port, salary, saving, shortage, traditional, treat
Removed: continued, HGA, listing, vest, York