HLLY - Holley's falls 6% after CEO retires Q4 preliminary sales below estimates

• Holley ( NYSE: HLLY ) said on Monday Tom Tomlinson would retire from the position of President and Chief Executive Officer and that it had appointed current Director, Michelle Gloeckler, as interim President and CEO.
• Matthew Rubel had been appointed as executive chairman.
• Graham Clempson would be the new Director.
• The company also announced fourth quarter preliminary Net sales of $153-$155M vs$167.81M consensus compared to $180 million in the fourth quarter 2021.
• Q4 Preliminary Gross Profit of $46-$48M compared to $75M in the fourth quarter of 2021.
• Q4 Preliminary Net Loss of $19-$17M compared to a Net Loss of $18M in the fourth quarter of 2021.
• Preliminary Adjusted EBITDA of $13 to $15M, compared to $36M in the fourth quarter of 2021.
• ( HLLY ) is down ~6% after the bell.

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