Horizon Global Corp
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Consumer Discretionary : Auto Components | Small Cap BlendCompany profile

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. Its towing product category includes devices and accessories installed on a tow-vehicle for the purpose of attaching a trailer and camper, among others, such as hitches and other towing accessories. Its trailering product category includes control devices and components of the trailer itself, such as brake controls and brake replacement parts. Its cargo management product category includes a range of products used to facilitate the transportation of various forms of cargo, to secure that cargo or to organize items. Its other product category includes a range of items, such as tubular push bars, side steps, and commercial brooms and brushes.

Closing Price
$2.06
Day's Change
-0.05 (-2.37%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.22
Day's Low
2.03
Volume
(Light)
Volume:
135,673

10-day average volume:
206,634
135,673

Lumentum's stock falls after earnings miss, but revenue beat lowered expectations

7:52 am ET February 5, 2019 (MarketWatch)
Print

Shares of Lumentum Holdings Inc (LITE) dropped 4.1% in premarket trade Tuesday, after the maker of optical and photonic products used in smartphones reported fiscal second-quarter earnings that missed expectations while revenue beat lowered guidance as gross margin fell. Net income for the quarter to Dec. 29 fell to $5.4 million, or 8 cents a share, from $196.9 million, or $3.05 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.15, below the FactSet consensus of $1.17. Revenue fell to $373.7 million from $404.6 million, but was above the FactSet consensus of $357.4 million. Gross margin fell to 33.4% from 42.3%. In November, Lumentum had foreshadowed (http://www.marketwatch.com/story/lumentum-slashes-earnings-revenue-outlook-after-large-customer-asks-to-reduce-shipments-2018-11-12) Apple Inc.'s (AAPL) iPhone troubles but slashing its revenue outlook to $335 million to $355 million from $405 million to $430 million, citing a request from "one of its largest" customers to "materially" reduce shipment on previously placed orders. For its third quarter, Lumentum expects adjusted EPS of 76 cents to 94 cents, compared with the FactSet consensus of 93 cents, and revenue of $420 million to $440 million, versus expectations of $420.9 million. The stock has shed 7.0% over the past three months through Monday, while the S&P 500 has slipped 0.5%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

February 05, 2019 07:52 ET (12:52 GMT)

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