Holley Inc.

everyone and thank you for joining us today for holly first quarter 2022 earnings conference call as a reminder all phone participants are in a listen only mode but later you will have the opportunity to ask questions a reminder also today's meeting is being recorded and now i'm for opening remarks and introductions i am pleased to turn the floor over to investor relations for holly mr ross collins thank you jim

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 call 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 recent 10Q, S4, and S1 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, and thank you for joining us today. Holly delivered strong first quarter results driven by strength, continued strength in consumer demand. Our net sales grew by 25% in the first quarter with a healthy balance of organic and acquired growth. Sales, excluding the impact of acquisitions, which we refer to as organic sales, increased by $21.6 million, contributing 13.5% of year-over-year growth, whereas sales associated with acquisitions contributed $18.1 million, or 11.3% of year-over-year net sales growth. While supply chain challenges continue to limit our ability to fully satisfy consumer demands, Our team performed well, enabling us to capture very nice growth in the quarter despite the challenges. Pricing actions taken in 2021 allowed us to overcome higher freight and product costs and deliver a slightly higher gross margin. Looking to the balance of 2022, supply chain and inflationary headwinds are very much at the top of our minds. and we remain committed to actively managing these challenges while simultaneously maintaining our focus on developing innovative and exciting new products for our enthusiast consumers. I'll now turn it over to Vinny to discuss Holly's recent M&A activity. Vinny?