1847 Holdings LLC reports 6.3% Revenue Growth for the First Nine Months of 2024 Compared to 2023
Business Update and Financial Results
New York, NY / ACCESSWIRE / November 19, 2024
1847 Holdings LLC (“1847” or the “Company”) (NYSE American:EFSH), a holding company specializing in identifying over-looked, deep value investment opportunities in middle market businesses, today provided a business update and reported financial results for the third quarter ended September 30, 2024.
Q3 2024 Highlights and Subsequent Events
Cash and cash equivalents, and restricted cash of $10.2 million as of September 30, 2024.
Disposition of ICU Eyewear; eliminated $4.8 million of net liabilities from the balance sheet.
Sold High Mountain Door & Trim Inc. (“HMDT”), a division of 1847 Cabinets for approximately $17 million, more than double the original purchase price.
Completed $11.1 million public offering; eliminated $6.9 million of additional debt from the balance sheet.
Signed definitive agreement to acquire the previously announced millwork, cabinetry, and door manufacturer based in Las Vegas, Nevada (the “Target”) with unaudited revenue of $33.1 million and net income of $10.4 million for the trailing twelve months ended September 30, 2024.
This strategic move indicates a positive growth trajectory for the company, showcasing its ability to identify lucrative investment opportunities and capitalize on them effectively. Through the acquisition of the millwork, cabinetry, and door manufacturer, 1847 Holdings LLC is diversifying its portfolio and expanding its market presence.
Impact on Individuals
As an individual investor, the growth of 1847 Holdings LLC can provide potential opportunities for financial gain and portfolio diversification. By closely monitoring the company’s performance and strategic moves, investors can make informed decisions to potentially benefit from the steady revenue growth and expansion efforts.
Global Implications
The success of 1847 Holdings LLC in achieving 6.3% revenue growth for the first nine months of 2024 compared to 2023 can have broader implications for the business world. It demonstrates the importance of strategic investments and acquisitions in driving growth and profitability, setting a positive example for other companies looking to expand their operations and enhance their market position.
Conclusion
In conclusion, 1847 Holdings LLC’s strategic initiatives and financial performance indicate a promising outlook for the company’s future. By leveraging its expertise in identifying value investment opportunities and executing strategic acquisitions, the company is well-positioned for continued growth and success in the competitive business landscape.
