Reports Q3 revenue $4.8M vs. $4.7M last year… vs.Cash and cash equivalents, and restricted cash of $10.2 M as of September 30 ..Disposition of ICU Eyewear; eliminated $4.8M of net liabilities from the balance sheet.Mr. Ellery W. Roberts, CEO of 1847 Holdings (EFSH), commented, “We believe the past few months have been transformative for 1847 Holdings as we executed a series of strategic initiatives designed to position the Company for sustained growth and maximize shareholder value over the long term. We remain committed to executing our strategic arbitrage model-acquiring undervalued companies, enhancing their performance, and selling them for a profit. This strategy allows us to leverage market inefficiencies by acquiring assets at lower valuations, improving their operational or financial performance, and then unlocking value through sales or spin-offs at higher valuations. A prime example of our strategy is the recent sale of HMDT. …We ended the third quarter of 2024 with $10.2M of cash and cash equivalents, and restricted cash that can be used in part to close this transaction. Additionally, the successful completion of our $11.1M public offering allowed us to eliminate $6.9 million of debt, significantly strengthening our balance sheet. The disposition of ICU Eyewear further reduced net liabilities by $4.8M. With a strong acquisition pipeline, we expect the upcoming acquisition to significantly boost profitability, deliver substantial cash flow, and negate the need for near-term capital raises. We believe these efforts establish a robust platform for sustainable growth and enhanced shareholder value. By leveraging our industry expertise and operational acumen, we intend to continue to identify and capitalize on high-return opportunities, reinforcing our proven growth model. We remain dedicated to driving value through strategic acquisitions as we expand and fortify our portfolio for long-term success,” concluded Mr. Roberts.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on EFSH:
- 1847 Holdings provides further detail on High Mountain Door & Trim sale
- Upcoming Stock Splits This Week (November 11 to November 15) – Stay Invested
- 1847 Holdings to acquire millwork, cabinetry, door manufacturer for $18.75M
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
