What happened

After reporting upbeat second-quarter earnings and raising full-year profit guidance, Horizon Global (NYSE:HZN), a leading provider of towing and trailering equipment, rose by 19% as of 10:50 a.m. EDT on Tuesday.

So what

Here's a review of the key highlights from Horizon's second quarter:

  • Revenue jumped 51% to $254 million thanks to last year's Westfalia acquisitionThis figure was far higher than the $240 million that Wall Street had expected.
  • Adjusted net income soared 86% higher thanks to margin expansion.
  • Adjusted earnings per share grew 31% to $0.84. This figure was well ahead of the management's guidance range of $0.67 to $0.72 and also easily surpassed the $0.67 in adjusted EPS that analysts had predicted.
  • Just over 570,000 shares of common stock were repurchased during the quarter.
  • Horizon announced that it acquiring Best Bars Limited, a towing and trailering company based in New Zealand that counts automakers like Toyota, Jeep, and Volkswagen as customers.

The better-than-expected results caused Wall Street to cheer.

A businesswoman in front of an open laptop looking at phone and cheering

Image source: Getty Images.

Now what

Management expects that the good times will continue into the upcoming quarter and offered investors the following guidance:

  • Revenue of $225 million to $235 million. This represents growth of 49% to 55% and is well ahead of the $221 million in revenue that Wall Street was looking for.
  • Adjusted EPS between $0.35 and $0.40 per share. This represents growth of 16% to 33%, but it is a little bit shy of the $0.44 in adjusted EPS that analysts were projecting.

In addition, the company also raised its profit guidance for the full year. Adjusted EPS is now expected to come in between $1.04 and $1.14 for the full-year 2017. That represents a $0.10 increase over its prior outlook and compares favorably to the $0.98 in EPS that market watchers were looking for.

In total, Horizon's second-quarter results and guidance boost showed investors that all of the company's key metrics are heading in the right direction. With the company clearly firing on all cylinders, it is easy to understand why traders are bidding up the share price today.

Brian Feroldi has no position in any stocks mentioned. The Motley Fool recommends Horizon Global. The Motley Fool has a disclosure policy.