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Holley Inc.
8/11/2021
Good morning ladies and gentlemen and welcome to the conference call to discuss the results from Holly's second quarter of 2021. At this time all participants are in listen only mode. Later we will conduct a question and answer session and instructions for asking questions will be provided at that time. We ask that participants limit themselves to one question and one related follow up during the Q&A period. Please be advised that reproduction of this call in whole or in part is not permitted without written authorisation of Holly. And as a reminder, this call is being recorded and will be made available for future playback. I would now like to introduce your host for today's call, Mr Ross Collins, Managing Director of Alpha IR. Ross, please go ahead.
Thank you, Lauren. Good morning, everyone. Thank you for taking the time to join us today. On the call with me today are Tom Tomlinson, Chief Executive Officer, Dominic Bardos, Chief Financial Officer, and Vinny Nimagata, Executive Vice President of Corporate Development and New Ventures of Holley. After their prepared remarks, we will open the call for questions. Now, I will reference the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. This column may contain certain forward-looking statements that are subject to significant risks and uncertainties, including the future operating and financial performance of the company. In many cases, these risks and uncertainties are beyond the company's control. Although the company believes the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct, and actual results may differ materially from expectations. Important risk factors that could cause actual results to differ materially from those reflected in the forward-looking statements are included in the company's S-4 and S-1 filings with the Securities and Exchange Commission. The information contained in this call is accurate only as of the date discussed. Investors should not assume that statements will remain relevant and operative at a later time. Holly undertakes no obligation to update any information discussed in this call in the future. Additionally, we will be discussing certain non-GAAP financial measures. A reconciliation of these items to U.S. GAAP are included in today's press release, which is also posted on our Investor Relations website. At this time, I'd like to turn the call over to Tom Tomlinson, Holly's Chief Executive Officer. Tom?
Thanks, Ross. Good morning, everyone. Thank you for joining us today. As you saw in our press release, Holly delivered another quarter of strong growth. Our net sales grew by 54% in the second quarter. This is on top of the 24% growth we achieved in the second quarter of 2020 versus 2019. Organic growth drove 25% year-over-year growth this year, and the remaining 29% came from the acquisitions we made in the fourth quarter of last year and this April. Our organic growth was driven by strong consumer demand across our categories with electronic products performing particularly well. We continued to see exceptional levels of enthusiast engagement and excellent growth in our direct-to-consumer channel. Following the close of our second quarter, we completed another milestone event in our company's history and we're now a public company. Today, we're stewards of many of the most iconic brands in our industry. These are brands that resonate deeply with our enthusiast consumers. brands they know, love, and trust. We are enthusiasts, and we built this business for enthusiasts. Before we hand the call over to Dominic to discuss our second quarter results in greater detail, I'd like to ask Vinny to provide more color regarding our recent merger with Empower. Vinny?
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