1847 Holdings LLC Announces Financial Results for Q3 2024 and Strategic Initiatives

1847 Holdings LLC, a holding company known for identifying undervalued investment opportunities in middle market businesses, recently released its financial results for the third quarter of 2024 and shared updates on its transformative initiatives. These updates were highlighted in a press release issued on November 19, 2024.

Among the key highlights and subsequent events reported by 1847 Holdings were:

– Cash and cash equivalents, along with restricted cash of $10.2 million as of September 30, 2024.
– Sale of ICU Eyewear, resulting in the elimination of $4.8 million of net liabilities from the balance sheet.
– Sale of High Mountain Door & Trim Inc. for approximately $17 million, more than double the original purchase price.
– Completion of an $11.1 million public offering, which helped eliminate $6.9 million of additional debt.
– Signing a definitive agreement to acquire a millwork, cabinetry, and door manufacturer based in Las Vegas with unaudited revenue of $33.1 million.
– CEO Ellery W. Roberts commented on the company’s strategic initiatives aimed at sustainable growth and enhancing shareholder value through acquisitions and operational improvements.

Regarding the financial performance for Q3 2024, key highlights included:

– Total revenues of $4,759,090 for the quarter, a slight increase compared to the same period in 2023.
– Increased revenues from the construction segment due to new projects and higher customer contract values.
– Revenues from the automotive supplies segment saw growth attributed to improvements in the supply chain.
– A summary of cost of revenues, personnel expenses, general and administrative expenses, and professional fees for the quarter ending September 30, 2024, was also provided.
– The net loss from continuing operations for the quarter was $5,557,789, compared to $5,136,715 for the same period in 2023.

1847 Holdings’ investment thesis focuses on acquiring business enterprises it deems as undervalued, enhancing their operations, and then selling or holding them for long-term value creation.

The company emphasized its commitment to driving sustainable growth and shareholder value through strategic acquisitions and operational efficiencies. For further information, interested parties are encouraged to stay updated through the company’s Twitter handle.

Forward-looking statements included in the press release address 1847 Holdings’ future expectations, plans, and prospects, aligning with the company’s strategic vision.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read 1847’s 8K filing here.

1847 Company Profile

1847 Holdings LLC engages in the acquisition and management of small businesses in different industries. It operates through the following segments: Retail and Appliances, Construction, and Automotive Supplies. The Retail and Appliances segment provides a wide variety of appliance services including sales, delivery, installation, service and repair, extended warranties, and financing.