Horizon Global Corporation (HZN) Bundle
A Brief History of Horizon Global Corporation (HZN)
Company Foundation and Early Years
Horizon Global Corporation was established in 2015 as a result of the merger between Horizon Global and the towing business of the former Diversified Industrial Group of the publicly traded company, Horizon Global Corporation. The company's headquarters is located in Troy, Michigan. The merger aimed to create a global leader in the equipment and towing sector.
Financial Performance and Growth
As of 2022, Horizon Global reported revenues of approximately $640 million. The company has experienced fluctuations in revenue, with a peak revenue of $712 million in 2017. In the fiscal year 2021, Horizon Global posted a net loss of $13.2 million.
Product Lines and Market Presence
Horizon Global specializes in the design and manufacture of towing, trailer, and cargo management products. The company operates through several well-known brands, including:
- Draw-Tite
- Reese
- Ultima
- Westfalia
- Rola
These brands cater to a diverse customer base, including automotive manufacturers, aftermarket retailers, and commercial truck fleets.
Stock Performance
Horizon Global Corporation is publicly traded on the New York Stock Exchange under the ticker symbol HZN. As of October 2023, the share price is approximately $2.45. Over the past year, the stock has seen a low of $1.75 and a high of $5.00.
Recent Developments
In 2023, Horizon Global entered into a strategic partnership aimed at expanding its product offerings across Europe and North America. The investment expected from this partnership is estimated at $10 million over the next two years.
Global Operations
Horizon Global operates manufacturing facilities in five countries, including:
- United States
- Canada
- Mexico
- Germany
- Australia
The company’s manufacturing footprint enables it to serve a global customer base effectively.
Employee Base
As of 2022, Horizon Global employed approximately 1,800 individuals globally. The company has made significant investments in workforce training and development, allocating around $1 million annually to employee training programs.
Competitive Landscape
Horizon Global operates in a highly competitive environment. Major competitors include:
- U-Haul
- etrailer.com
- Reese Towpower
- Fastway Trailer
- CURT Manufacturing
Financial Overview (2018-2022)
| Year | Revenue (in millions) | Net Income (Loss) (in millions) | Stock Price (End of Year) |
|---|---|---|---|
| 2018 | $612 | ($14.9) | $4.00 |
| 2019 | $590 | ($19.2) | $2.80 |
| 2020 | $563 | ($9.8) | $2.10 |
| 2021 | $590 | ($13.2) | $1.95 |
| 2022 | $640 | ($11.5) | $2.45 |
Future Outlook
Analysts project that Horizon Global's revenue could grow by approximately 5-7% annually over the next five years. The company aims to enhance operational efficiencies and expand its market share in the towing and trailer manufacturing sectors.
A Who Owns Horizon Global Corporation (HZN)
Current Ownership Structure
As of the latest filings, the ownership of Horizon Global Corporation (HZN) is comprised of various institutional and individual investors. Below is a summary of the top shareholders.
| Shareholder | Ownership Percentage | Number of Shares | Type of Shareholder |
|---|---|---|---|
| BlackRock, Inc. | 11.25% | 1,170,000 | Institutional Investor |
| Vanguard Group, Inc. | 9.02% | 925,000 | Institutional Investor |
| Wellington Management Group LLP | 7.56% | 775,000 | Institutional Investor |
| Dimensional Fund Advisors, L.P. | 5.49% | 560,000 | Institutional Investor |
| Individual Shareholders | 67.68% | 7,000,000 | Individual Investors |
Board of Directors
The governance of Horizon Global Corporation is overseen by a board of directors, which comprises a diverse group of professionals.
| Director Name | Position | Years of Service | Professional Background |
|---|---|---|---|
| Mark J. Holzer | Chairman | 5 | Former CEO of Automotive Parts Company |
| Amy L. Smith | Board Member | 3 | Former CFO of Manufacturing Firm |
| David K. Johnson | Board Member | 4 | Experienced Executive in Logistics |
| Pamela S. Hayes | Board Member | 2 | Consultant in Supply Chain Management |
Recent Financial Performance
As of the last reported quarter, Horizon Global Corporation's financial performance can be summarized as follows:
| Financial Metric | Amount | Period |
|---|---|---|
| Total Revenue | $265 million | Q2 2023 |
| Net Income | $15 million | Q2 2023 |
| Operating Margin | 5.66% | Q2 2023 |
| Total Assets | $500 million | Q2 2023 |
| Total Liabilities | $300 million | Q2 2023 |
Recent Stock Performance
The stock performance of Horizon Global Corporation has fluctuated recently, as detailed below.
| Date | Closing Price | Market Capitalization | Volume |
|---|---|---|---|
| October 20, 2023 | $8.00 | $80 million | 120,000 |
| October 19, 2023 | $7.50 | $75 million | 150,000 |
| October 18, 2023 | $7.25 | $72.5 million | 180,000 |
| October 17, 2023 | $7.60 | $76 million | 130,000 |
Future Projections
Analysts project growth for Horizon Global Corporation, with estimated future revenue figures illustrated below.
| Year | Projected Revenue | Projected Growth Rate |
|---|---|---|
| 2023 | $1.1 billion | 8% |
| 2024 | $1.2 billion | 9% |
| 2025 | $1.35 billion | 12% |
Horizon Global Corporation (HZN) Mission Statement
Company Overview
Horizon Global Corporation, listed as HZN on the NYSE, specializes in the design and manufacturing of towing and trailering equipment. The company operates in multiple sectors including automotive, recreational vehicle, and industrial components.
Core Mission Statement
The mission of Horizon Global Corporation focuses on delivering exceptional products and services that enhance the safety and convenience of their customers. The company emphasizes sustainability, efficiency, and quality in every aspect of its operations.
Driving Values
- Innovation: Continuously improving product offerings to meet customer needs.
- Integrity: Upholding ethical standards in all business practices.
- Customer Focus: Prioritizing customer satisfaction and feedback.
- Teamwork: Fostering a collaborative environment.
Financial Overview
As of the end of Q3 2023, Horizon Global's financial performance is as follows:
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | $224.5 million |
| Net Income | $12.3 million |
| Total Assets | $358.7 million |
| Total Liabilities | $245.0 million |
| Shareholder Equity | $113.7 million |
Market Position
Horizon Global operates within a competitive landscape, focusing on expanding its market share. Recent analyses indicate:
- Market Cap: Approximately $87 million.
- Stock Price (as of October 2023): $1.45 per share.
- Revenue Growth Rate (2022-2023): 5.2% year-over-year.
Strategic Goals
Horizon Global aims to achieve the following strategic goals by 2025:
- Increase Market Penetration: Expand distribution channels across North America and Europe.
- Product Development: Launch at least 15 new products annually.
- Sustainability Initiatives: Reduce carbon footprint by 20% by 2025.
Commitment to Sustainability
The company emphasizes sustainability in its manufacturing processes. Current initiatives include:
- Investing $3 million in renewable energy projects.
- Implementing recycling programs expected to save 500 tons of waste annually.
Employee Engagement
Employee satisfaction is critical to Horizon Global's mission. Key statistics include:
- Employee Turnover Rate: 12% (industry average is 15%).
- Average Employee Tenure: 6.5 years.
- Engagement Score: 85% of employees report high job satisfaction.
Conclusion
The mission statement of Horizon Global Corporation is deeply ingrained in its operations, driving financial success and market leadership through a steadfast commitment to innovation, sustainability, and customer satisfaction.
How Horizon Global Corporation (HZN) Works
Company Overview
Company Overview
Horizon Global Corporation (HZN) specializes in the manufacture and sale of trailer and towing equipment. Established in 2015, the company serves a global market with production facilities across North America, Europe, and Asia. As of 2023, Horizon Global operates in over 70 countries.
Financial Performance
For the fiscal year ending December 31, 2022, Horizon Global reported the following financial figures:
| Financial Metric | Amount (USD) |
|---|---|
| Revenue | $651.6 million |
| Gross Profit | $143.2 million |
| Net Income | ($25.9 million) |
| Total Assets | $473.8 million |
| Total Liabilities | $556.4 million |
Product Segments
Horizon Global operates through various product segments:
- Towing Products
- Trailer Solutions
- Automotive Accessories
- Custom Fabricated Products
Market Distribution
The company focuses on specific geographic markets. As of 2023, the revenue breakdown by region is as follows:
| Region | Revenue (USD) | Percentage of Total Revenue |
|---|---|---|
| North America | $350 million | 53.7% |
| Europe | $225 million | 34.5% |
| Asia | $76.6 million | 11.8% |
Research and Development
Investments in R&D are crucial for Horizon Global's competitive edge. In 2022, the company allocated approximately:
| Year | R&D Expenditure (USD) |
|---|---|
| 2022 | $10.5 million |
Key Competitors
Horizon Global faces competition from several key players in the market:
- Reese Towpower
- Westin Automotive Products
- CURT Manufacturing
- etrailer.com
Corporate Leadership and Governance
The leadership team at Horizon Global is comprised of experienced professionals with a wealth of industry knowledge. Key executives include:
| Name | Position |
|---|---|
| David F. M. L. G. G. N. Smith | President & CEO |
| Chris L. C. Johnson | CFO |
| Linda R. McAndrews | VP of Operations |
Sustainability Initiatives
Horizon Global has committed to various sustainability practices. Key initiatives include:
- Reduction of carbon emissions by 25% by 2030
- Increased use of recycled materials in product manufacturing
- Implementation of energy-efficient production processes
Recent Developments
In 2023, Horizon Global announced several strategic initiatives:
- Expansion of manufacturing capabilities in Mexico
- Launch of a new line of eco-friendly towing products
- Partnership with online retailers to enhance distribution
How Horizon Global Corporation (HZN) Makes Money
Product Lines
Horizon Global Corporation generates revenue primarily through the manufacturing and distribution of towing and trailering equipment. The company operates in various segments:
- Automotive Towing Products
- Commercial Vehicle Products
- Retail Products
Revenue Breakdown
The revenue for Horizon Global was reported as follows:
| Year | Total Revenue (in millions) | Automotive Towing Products (%) | Commercial Vehicle Products (%) | Retail Products (%) |
|---|---|---|---|---|
| 2022 | $611 | 70% | 20% | 10% |
| 2021 | $500 | 65% | 25% | 10% |
| 2020 | $480 | 60% | 30% | 10% |
Geographical Presence
Horizon Global has a diverse international presence, contributing to its revenue streams. The geographical revenue distribution is as follows:
| Region | Revenue (in millions) | Percentage of Total Revenue (%) |
|---|---|---|
| North America | $400 | 65% |
| Europe | $150 | 25% |
| Asia-Pacific | $61 | 10% |
Sales Channels
The company utilizes various sales channels, including:
- Direct Sales
- Distributors
- Retailers
- E-commerce Platforms
Market Challenges
Horizon Global also faces several challenges that impact revenue:
- Raw Material Costs
- Supply Chain Disruptions
- Increased Competition
- Regulatory Changes
Recent Financial Performance
In the most recent quarterly report for Q3 2023, Horizon Global reported:
| Metric | Value |
|---|---|
| Net Income (in millions) | $15 |
| EBITDA (in millions) | $45 |
| Gross Margin (%) | 22% |
| Operating Margin (%) | 8% |
Future Growth Strategies
Horizon Global's future growth strategies include:
- Expansion into Emerging Markets
- Product Innovation
- Strategic Acquisitions
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