Comparing the current results to its competitors, Horizon Global reported Revenue decrease in the 3 quarter 2022 year on year by -24.2 %, despite the revenue increase by the most of its competitors of 7.5 %, recorded in the same quarter.
Horizon Global's Comment on Competition and Industry Peers
The competitive environment for automotive accessory products is highly fragmented
and is characterized by numerous smaller suppliers, even the largest of which
tend to focus in narrow product categories. We believe there is no individual
competitor that has the breadth of product portfolio on a global basis in the
markets we serve. Significant towing competitors include Curt Manufacturing, B&W
Trailer Hitches, The Bosal Group, Brink, Westfalia, Buyers Products Company, Demco
Products, PullRite, Westin Automotive Products and Camco. Significant trailering
competitors include Pacific Rim, Dutton-Lainson, Shelby, Ultra-Fab, Sea-Sense
and Atwood. In addition, competition in the cargo management product category
primarily comes from Thule, Yakima, Bell, Masterlock and Saris.
Meritor Inc. operates within the automotive industry, specifically focusing on the design, production, and sale of a wide range of integrated systems and components for commercial vehicles. The company follows a business model based on manufacturing and distributing high-quality products to original equipment manufacturers (OEMs) and the aftermarket. Meritor Inc. continually invests in research and development to innovate and deliver solutions that enhance vehicle performance, efficiency, and safety.
Rev Group Inc is a manufacturer of specialty vehicles serving diverse industries such as emergency response, commercial, and recreational markets. They design and produce customized vehicles that cater to specific customer needs, offering mobility solutions that range from ambulances and buses to fire trucks and recreational vehicles.
Icahn Enterprises L.P. is a diversified investment management firm with a business model focused on strategic investments, actively managing a portfolio of assets in various industries. Through an activist approach, the company typically seeks to acquire significant stakes in undervalued companies, working to unlock and enhance their value. With a strong emphasis on operational improvements and long-term growth, Icahn Enterprises aims to generate attractive returns for its shareholders.
Enpro Industries Inc operates through a diversified business model, focusing on engineering and manufacturing high-performance industrial products across various sectors.
Sources:
Horizon Global Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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