March 1, 2018 / 11:41 AM / 8 months ago

BRIEF-Horizon Global Reports Qtrly Loss Per Share $0.84

March 1 (Reuters) - Horizon Global Corp:

* HORIZON GLOBAL REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL-YEAR 2017; ANNOUNCES DETAILS OF TARGETED ACTION PLAN

* QTRLY NET SALES ABOUT $196 MILLION VERSUS $183.6 MILLION

* Q4 REVENUE VIEW $194.6 MILLION -- THOMSON REUTERS I/B/E/S

* QTRLY ADJUSTED LOSS PER SHARE $0.11

* Q4 EARNINGS PER SHARE VIEW $-0.14 -- THOMSON REUTERS I/B/E/S

* HAS LAUNCHED A BUSINESS IMPROVEMENT ACTION PLAN TO ADDRESS PERFORMANCE CHALLENGES THAT IMPACTED CO IN 2017

* HORIZON GLOBAL - ACTION PLAN INCLUDES RESTRUCTURING OF AMERICAS SEGMENT, INCLUDING FACILITY CONSOLIDATIONS AND WORKFORCE REDUCTIONS

* WILL CONTINUE IMPLEMENTING ACTIONS IN ITS EUROPE-AFRICA SEGMENT RELATED TO BUSINESS INTEGRATION AND IMPROVEMENT

* SEVERAL ELEMENTS OF ACTION PLAN ARE ALREADY COMPLETED OR UNDERWAY

* EXPECTS REMAINING ELEMENTS OF ACTION PLAN TO BE ENACTED THIS YEAR

* HORIZON GLOBAL - ACTION PLAN ELEMENTS ARE EXPECTED TO DELIVER INCREMENTAL $3.0 TO $5.0 MILLION IN CONSOLIDATED COST SAVINGS IN 2018

* EXPECTS "SOLID PERFORMANCES" FROM EACH OF ITS SEGMENTS IN 2018

* SEES 2018 CONSOLIDATED ORGANIC REVENUE GROWTH IN RANGE OF THREE TO FIVE PERCENT

* HORIZON GLOBAL - IN 2018, CONSOLIDATED ADJUSTED OPERATING PROFIT AND ADJUSTED EARNINGS PER SHARE BOTH EXPECTED TO GROW FASTER THAN REVENUE ON A CONSTANT CURRENCY BASIS

* OPERATING CASH FLOW EXPECTED TO RETURN TO NORMAL HISTORICAL LEVELS DURING 2018 Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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