ADM Endeavors Reports Third Quarter Fiscal 2024 Financial Results
ADM Endeavors (ADMQ) reported Q3 2024 financial results with revenue of $2.17 million, up 12% year-over-year and 77% quarter-over-quarter. The growth was driven by recently acquired brands and increased school uniform sales. Gross margin declined to 26% from 30% in Q3 2023. Net income was $125,809, down from $155,609 in Q3 2023 but up significantly from Q2 2024. Year-to-date revenue reached $4.44 million, a 13% increase. The company's new 100,000 sq. ft. facility under construction was appraised at $13 million, with adjacent land valued at $3.7 million.
ADM Endeavors (ADMQ) ha riportato i risultati finanziari del Q3 2024 con un fatturato di 2,17 milioni di dollari, in aumento del 12% rispetto all'anno precedente e del 77% rispetto al trimestre precedente. La crescita è stata sostenuta dai marchi recentemente acquisiti e dall'aumento delle vendite di divise scolastiche. Il margine lordo è diminuito al 26% dal 30% del Q3 2023. L'utile netto è stato di 125.809 dollari, in calo rispetto ai 155.609 dollari del Q3 2023, ma in significativo aumento rispetto al Q2 2024. Il fatturato dall'inizio dell'anno ha raggiunto 4,44 milioni di dollari, con un aumento del 13%. La nuova struttura dell'azienda di 100.000 piedi quadrati in costruzione è stata valutata 13 milioni di dollari, con terreni adiacenti valutati 3,7 milioni di dollari.
ADM Endeavors (ADMQ) reportó los resultados financieros del Q3 2024 con ingresos de 2.17 millones de dólares, un incremento del 12% en comparación con el año anterior y del 77% en comparación con el trimestre anterior. El crecimiento fue impulsado por marcas adquiridas recientemente y un aumento en las ventas de uniformes escolares. El margen bruto disminuyó al 26% desde el 30% en el Q3 2023. El ingreso neto fue de 125,809 dólares, disminuyendo desde 155,609 dólares en el Q3 2023, pero aumentando significativamente desde el Q2 2024. Los ingresos acumulados hasta la fecha alcanzaron 4.44 millones de dólares, un incremento del 13%. La nueva instalación de la empresa de 100,000 pies cuadrados en construcción fue tasada en 13 millones de dólares, con terrenos adyacentes valorados en 3.7 millones de dólares.
ADM Endeavors (ADMQ)는 2024년 3분기 재무 결과를 보고하며 매출이 217만 달러로, 전년 대비 12% 증가하고 전분기 대비 77% 증가했다고 발표했습니다. 이번 성장세는 최근 인수한 브랜드와 학교 유니폼 판매 증가에 의해 촉진되었습니다. 총 이익률은 2023년 3분기의 30%에서 26%로 감소했습니다. 순이익은 125,809달러로, 2023년 3분기의 155,609달러에서 감소했지만, 2024년 2분기와 비교하면 크게 증가했습니다. 연초 대비 매출은 444만 달러에 도달했으며, 이는 13% 증가한 수치입니다. 현재 건설 중인 회사의 100,000 평방피트 규모의 시설은 1300만 달러로 평가되었고, 인접한 토지는 370만 달러로 평가되었습니다.
ADM Endeavors (ADMQ) a annoncé les résultats financiers du 3ème trimestre 2024 avec un chiffre d'affaires de 2,17 millions de dollars, en hausse de 12 % par rapport à l'année précédente et de 77 % par rapport au trimestre précédent. Cette croissance a été soutenue par des marques récemment acquises et l'augmentation des ventes d'uniformes scolaires. La marge brute a diminué à 26 % contre 30 % au 3ème trimestre 2023. Le bénéfice net s'élevait à 125 809 dollars, en baisse par rapport à 155 609 dollars au 3ème trimestre 2023, mais en forte hausse par rapport au 2ème trimestre 2024. Le chiffre d'affaires cumulatif depuis le début de l'année a atteint 4,44 millions de dollars, soit une augmentation de 13 %. La nouvelle installation de l'entreprise de 100 000 pieds carrés en construction a été évaluée à 13 millions de dollars, tandis que le terrain adjacent était évalué à 3,7 millions de dollars.
ADM Endeavors (ADMQ) berichtete über die Finanzzahlen für das 3. Quartal 2024 mit Einnahmen von 2,17 Millionen Dollar, was einem Anstieg von 12 % im Jahresvergleich und 77 % im Vergleich zum Vorquartal entspricht. Das Wachstum wurde durch kürzlich erworbene Marken und erhöhte Verkäufe von Schuluniformen vorangetrieben. Die Bruttomarge fiel von 30 % im 3. Quartal 2023 auf 26 %. Der Nettogewinn betrug 125.809 Dollar, ein Rückgang gegenüber 155.609 Dollar im 3. Quartal 2023, aber ein erheblicher Anstieg im Vergleich zum 2. Quartal 2024. Der bisherige Umsatz belief sich auf 4,44 Millionen Dollar, was einem Anstieg von 13 % entspricht. Die neue Produktionsstätte des Unternehmens mit 100.000 Quadratfuß, die im Bau ist, wurde auf 13 Millionen Dollar geschätzt, während das angrenzende Land mit 3,7 Millionen Dollar bewertet wurde.
- Q3 revenue increased 12% YoY to $2.17M and 77% QoQ
- Year-to-date revenue up 13% to $4.44M
- New facility appraised at $13M with additional $3.7M in land value
- Strong cash position of $749,152 with $1.5M available in construction loan
- Q3 gross margin declined to 26% from 30% YoY
- Q3 net income decreased to $125,809 from $155,609 YoY
- Nine-month net income fell to $48,374 from $162,560 YoY
- Increased marketing and selling expenses impacting profitability
Q3 Revenues Increased
Trialing Twelve Month Revenue
New Facility Under Construction Appraised at
Fort Worth, Texas--(Newsfile Corp. - November 14, 2024) - Just Right Products Inc., the wholly owned subsidiary of ADM Endeavors (OTCQB: ADMQ) ("ADM" or the "Company"), announces its financial results for the three- and nine-months ended September 30, 2024. Unless otherwise stated, all dollar amounts are in U.S. dollars. The Company's 10-Q can be accessed on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov.
Financial Highlights
Operating Results for the 3-Months Ended September 30, 2024:
- Revenue was
$2,166,235 , a12% increase over$1,984,193 reported in Q3 2023 and a77% improvement over the prior quarter's$1,222,600 , due to increased sales from recently acquired brands and increased school uniform sales. - Gross margin of
26% fell from30% in Q3 2023, due to increased demand from labor intensive uniform school sales. - Net income of
$125,809 decreased$29,800 versus$155,609 in Q3 2023 but increased$125,608 over Q2 2024's net income of$201 , due to increased marketing and selling expenses associated with investing in web development and e-commerce to create a stronger online presence. - At September 30, 2024, the Company had cash of
$749,152 , access to$1,500,000 remaining on the construction loan, and accounts receivable of$383,421.
Operating Results for the Nine-Months Ended June 30, 2024:
- Revenue of
$4,444,973 increased13% over the$3,915,887 reported for the comparable year-ago period, - Gross margin of
30% was down slightly from31% during the first nine-months of 2023. - Net income of
$48,374 decreased$114,186 versus$162,560 during the comparable year-ago period.
Management Commentary
"Our third-quarter results demonstrate solid progress as we continue our strategic focus on the government sector," said ADM Endeavors CEO Marc Johnson. "The peak season for uniform sales showed increased demand from existing customers, which is evident in our results. We are also actively pursuing new schools in the Dallas-Fort Worth area left without a uniform supplier following the recent exit of a major competitor. The upcoming completion of our new 100,000 sq. ft. facility in Q1 2025 will allow us to meet this heightened demand and capture additional market share."
Mr. Johnson further noted, "The recent appraisal of our new facility estimates its value at around
About ADM Endeavors
ADM Endeavors is a diversified, direct marketing and value-added manufacturing company providing customers with customized promotional products and wearables. Since 2010, our wholly owned subsidiary, Just Right Products, Inc., has been consistently increasing our recession resistant customer base, with sales topping
- https://admendeavors.com/
- https://www.fwpromo.com/
- https://fortworth.academicoutfitters.com/
- https://www.facebook.com/groups/admqshareholders/
Forward-Looking Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Any statements that are not historical facts contained in this press release are "forward-looking statements" that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions or economic conditions with respect to the retail industry, the COVID-19 pandemic, the performance of management, actions of government regulators, vendors, and suppliers, our cash flows and ability to obtain financing, competition, general economic conditions and other factors that are detailed in our filings with the Securities and Exchange Commission. We intend that all forward-looking statements be subject to the safe -harbor provisions. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information about ADM Endeavors, please contact:
Marc Johnson, CEO
Phone: 817.231.8048
E-mail: info@admendeavors.com
For investor information for ADM Endeavors, please contact:
Sean Peasgood, Investor Relations
Phone: 647.255.7570
E-mail: sean@sophiccapital.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230030
FAQ
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