Horizon Global: 3Q Earnings Snapshot
TROY, Mich. (AP) _ Horizon Global Corp. (HZN) on Thursday reported a third-quarter loss of $32.8 million, after reporting a profit in the same period a year earlier.
The Troy, Michigan-based company said it had a loss of $1.31 per share. Losses, adjusted for one-time gains and costs, came to 1 cent per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The towing and trailering equipment maker posted revenue of $227.8 million in the period.
Horizon Global shares have fallen 60 percent since the beginning of the year. The stock has declined 59 percent in the last 12 months.