1847 Reports 10.7% Increase in Revenue to $15.7 Million for the Year Ended 2024
1847 Holdings (NYSE:EFSH) reported financial results for 2024, showing a 10.7% revenue increase to $15.7 million and an 18.6% gross profit growth to $7.8 million compared to 2023. The company's gross margin improved by 330 basis points to 49.5%.
Key operational highlights include the acquisition of CMD, which reported pro forma revenues of $30.8 million (13.5% increase) and net income growth of 28.9% to $7.5 million. The company successfully sold High Mountain for $17 million, approximately double its purchase price.
Despite these improvements, the company reported a significant net loss from continuing operations of $106.8 million, largely due to non-cash items including a $77.6 million loss on warrant liabilities. Looking ahead, 1847 Holdings projects revenue exceeding $45 million with $1.3 million net income in 2025, and revenue over $60 million with $5.0 million net income in 2026.
1847 Holdings (NYSE:EFSH) ha riportato i risultati finanziari per il 2024, mostrando un aumento del fatturato del 10,7% a 15,7 milioni di dollari e una Crescita del profitto lordo del 18,6% a 7,8 milioni di dollari rispetto al 2023. Il margine lordo dell'azienda è migliorato di 330 punti base, raggiungendo il 49,5%.
I punti salienti operativi includono l'acquisizione di CMD, che ha riportato ricavi pro forma di 30,8 milioni di dollari (aumento del 13,5%) e una crescita dell'utile netto del 28,9% a 7,5 milioni di dollari. L'azienda ha venduto con successo High Mountain per 17 milioni di dollari, circa il doppio del prezzo di acquisto.
Nonostante questi miglioramenti, l'azienda ha riportato una significativa perdita netta dalle operazioni continuative di 106,8 milioni di dollari, principalmente a causa di voci non monetarie, inclusa una perdita di 77,6 milioni di dollari su passività da warrant. Guardando al futuro, 1847 Holdings prevede ricavi superiori a 45 milioni di dollari con un utile netto di 1,3 milioni di dollari nel 2025, e ricavi superiori a 60 milioni di dollari con un utile netto di 5,0 milioni di dollari nel 2026.
1847 Holdings (NYSE:EFSH) reportó resultados financieros para 2024, mostrando un aumento del 10,7% en los ingresos a 15,7 millones de dólares y un crecimiento del 18,6% en la ganancia bruta a 7,8 millones de dólares en comparación con 2023. El margen bruto de la empresa mejoró en 330 puntos básicos, alcanzando el 49,5%.
Los aspectos operativos clave incluyen la adquisición de CMD, que reportó ingresos pro forma de 30,8 millones de dólares (aumento del 13,5%) y un crecimiento del ingreso neto del 28,9% a 7,5 millones de dólares. La empresa vendió con éxito High Mountain por 17 millones de dólares, aproximadamente el doble de su precio de compra.
A pesar de estas mejoras, la empresa reportó una pérdida neta significativa de 106,8 millones de dólares en operaciones continuas, en gran parte debido a partidas no monetarias, incluida una pérdida de 77,6 millones de dólares en pasivos de warrants. De cara al futuro, 1847 Holdings proyecta ingresos superiores a 45 millones de dólares con un ingreso neto de 1,3 millones de dólares en 2025, y ingresos superiores a 60 millones de dólares con un ingreso neto de 5,0 millones de dólares en 2026.
1847 Holdings (NYSE:EFSH)는 2024년 재무 결과를 발표했으며, 10.7%의 수익 증가를 기록하여 1,570만 달러에 도달했으며, 18.6%의 총 이익 성장을 보이며 780만 달러에 달했습니다. 회사의 총 마진은 330 베이시스 포인트 개선되어 49.5%에 도달했습니다.
주요 운영 하이라이트로는 CMD의 인수가 포함되며, CMD는 3080만 달러(13.5% 증가)의 프로 포르마 수익과 28.9% 증가한 750만 달러의 순이익을 보고했습니다. 회사는 High Mountain을 1,700만 달러에 성공적으로 판매하였으며, 이는 구매 가격의 약 두 배에 해당합니다.
이러한 개선에도 불구하고, 회사는 계속 운영에서 1억 6,680만 달러의 상당한 순손실을 보고했으며, 이는 주로 7,760만 달러의 워런트 부채 손실을 포함한 비현금 항목 때문입니다. 향후 1847 Holdings는 2025년 수익이 4,500만 달러를 초과하고 순이익이 130만 달러에 이를 것으로 예상하며, 2026년에는 수익이 6,000만 달러를 초과하고 순이익이 500만 달러에 이를 것으로 전망하고 있습니다.
1847 Holdings (NYSE:EFSH) a publié ses résultats financiers pour 2024, montrant une augmentation des revenus de 10,7% à 15,7 millions de dollars et une croissance du bénéfice brut de 18,6% à 7,8 millions de dollars par rapport à 2023. La marge brute de l'entreprise s'est améliorée de 330 points de base, atteignant 49,5%.
Les points saillants opérationnels incluent l'acquisition de CMD, qui a rapporté des revenus pro forma de 30,8 millions de dollars (augmentation de 13,5%) et une croissance du revenu net de 28,9% à 7,5 millions de dollars. L'entreprise a réussi à vendre High Mountain pour 17 millions de dollars, soit environ le double de son prix d'achat.
Malgré ces améliorations, l'entreprise a enregistré une perte nette significative des opérations continues de 106,8 millions de dollars, principalement en raison d'éléments non monétaires, y compris une perte de 77,6 millions de dollars sur les passifs de bons de souscription. En regardant vers l'avenir, 1847 Holdings prévoit des revenus dépassant 45 millions de dollars avec un revenu net de 1,3 million de dollars en 2025, et des revenus de plus de 60 millions de dollars avec un revenu net de 5,0 millions de dollars en 2026.
1847 Holdings (NYSE:EFSH) hat die finanziellen Ergebnisse für 2024 veröffentlicht, die einen Umsatzanstieg von 10,7% auf 15,7 Millionen Dollar und ein Wachstum des Bruttogewinns von 18,6% auf 7,8 Millionen Dollar im Vergleich zu 2023 zeigen. Die Bruttomarge des Unternehmens verbesserte sich um 330 Basispunkte auf 49,5%.
Wichtige operationale Höhepunkte sind die Übernahme von CMD, die pro forma Einnahmen von 30,8 Millionen Dollar (13,5% Steigerung) und ein Wachstum des Nettogewinns von 28,9% auf 7,5 Millionen Dollar berichtete. Das Unternehmen verkaufte High Mountain erfolgreich für 17 Millionen Dollar, was ungefähr dem Doppelten des Kaufpreises entspricht.
Trotz dieser Verbesserungen berichtete das Unternehmen über einen signifikanten Nettoverlust aus fortgeführten Operationen von 106,8 Millionen Dollar, hauptsächlich aufgrund von nicht zahlungswirksamen Posten, einschließlich eines Verlusts von 77,6 Millionen Dollar aus Verbindlichkeiten aus Optionen. Für die Zukunft prognostiziert 1847 Holdings Einnahmen von über 45 Millionen Dollar mit einem Nettogewinn von 1,3 Millionen Dollar im Jahr 2025 und Einnahmen von über 60 Millionen Dollar mit einem Nettogewinn von 5,0 Millionen Dollar im Jahr 2026.
- Revenue increased 10.7% YoY to $15.7M
- Gross profit grew 18.6% to $7.8M
- Gross margin improved 330 basis points to 49.5%
- High Mountain sale generated $17M, double the purchase price
- CMD acquisition showing strong performance with $30.8M pro forma revenue
- Projected revenue of $45M and $1.3M net income for 2025
- Net loss from continuing operations of $106.8M in 2024
- Automotive supplies segment revenue decreased 17.6% to $3.7M
- Operating loss of $12M for 2024
- Adjusted EBITDA loss of $3.3M
- Going concern warning from auditors
- Significant warrant liability losses of $77.6M
Insights
1847 Holdings' financial results reveal meaningful operational improvements despite significant bottom-line challenges. The
However, the substantial net loss requires careful interpretation. While the headline figure appears concerning, it's largely driven by non-cash accounting adjustments related to warrant liabilities valuation rather than operational deterioration. The
The company's portfolio management strategy is showing tangible results. The sale of High Mountain for
Forward guidance projecting profitability in 2025 (
1847 Holdings presents an interesting case of improving operational metrics within a challenging financial framework. The company is executing a clear portfolio optimization strategy - acquiring high-margin businesses like CMD while divesting others at premium valuations, as evidenced by the High Mountain sale at
The
The substantial net loss requires proper context - it's predominantly driven by non-cash warrant liability adjustments rather than operational issues. More concerning is the persistent negative Adjusted EBITDA of
The auditor's going concern opinion reflects legitimate liquidity challenges, but management's confident projection of profitability by 2025 suggests they believe the inflection point is near. The CMD acquisition appears transformative - its pro forma
For a micro-cap company with a market cap around
Gross profit increases
NEW YORK CITY, NY / ACCESS Newswire / March 31, 2025 / 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 year-ended December 31, 2024.
Key Financial Highlights from Continuing Operations
Total Revenue was
$15.7M for the year-ended December 31, 2024 compared to$14.2M for the year-ended December 31, 2023, a10.7% year-over-year increaseGross profit was
$7.8M for the year-ended December 31, 2024 compared to$6.6M for the year-ended December 31, 2023, an18.6% year-over-year increaseGross margin increased 330 basis points to
49.5% for the year-ended December 31, 2024, compared to46.2% for the same period last year
2024 Operational Achievements and Subsequent Events
Exploring strategic alternatives for CMD Inc. ("CMD") due to significant inbound interest from both strategic and financial sponsors
Reported CMD Inc. strong revenue growth and profitability for fiscal year 2023 and nine months ended September 30, 2024
Engaged Two Roads Advisors to facilitate sale of Wolo Mfg. Corp.
Completed acquisition of CMD, a Las Vegas-based cabinetry, millwork and door manufacturer
Sold High Mountain Door & Trim Inc. ("High Mountain"), a division of 1847 Cabinets for approximately
$17 million , more than double the original purchase priceDisposition of ICU Eyewear; eliminated
$4.5 million of net liabilities from the balance sheet
Mr. Ellery W. Roberts, CEO of 1847, commented, "2024 was a transformative year marked by a series of strategic initiatives that served as a significant turning point for our company. We recorded revenue of
A key element of our growth strategy involves selectively refining our portfolio to maximize returns. In late September 2024, we finalized the sale of High Mountain, a Reno, Nevada-based provider of finished carpentry products and services. Originally acquired in October 2021, High Mountain was sold to a strategic buyer for
While our reported net loss for the year may appear significant, it's important to emphasize that a substantial portion of this loss is driven by non-cash and one-time items-particularly the change in fair value of our warrant liabilities. Due to features in the Series A and Series B warrants that allow the exercise price to decrease (subject to a floor) and the number of shares issuable to increase upon certain events (e.g., reverse stock splits, registration resets, or lower-priced financings), as well as the alternative cashless exercise option in the Series A warrants, these warrants provide added value to the holders beyond a standard fixed‑for‑fixed arrangement. As a result, we classify the warrants as liabilities and remeasure them at fair value each reporting period. Over time, upon exercise or expiration, the warrant liabilities will be reduced to zero, with changes reflected as an increase to shareholders' equity and net income.
Excluding these non-cash charges, our core performance remains firmly in line with our long-term objectives, positioning us to capitalize on future growth opportunities.
Looking ahead, we expect to generate net income, projecting approximately
We are also exploring the potential strategic sale of Wolo, as well as strategic alternatives for CMD. The substantial inbound interest we have received is a testament to CMD's strong market presence and financial performance. Given CMD's impressive growth and the strategic value it presents, we believe this is the right time to explore opportunities that could unlock significant value for our shareholders. Our future has never been brighter, and we remain more confident than ever in our ability to drive sustained value for our investors," concluded Mr. Roberts.
2024 Financial Highlights
Total revenues were
Revenues from the construction segment increased by
$2,321,335 , or24.1% , to$11,960,884 for the year ended December 31, 2024 from$9,639,549 for the year ended December 31, 2023. The increase in revenues was primarily attributed to an increase in new multi-family projects and an increase in the average customer contract value.Revenues from the automotive supplies segment decreased by
$801,140 , or17.6% , to$3,749,446 for the year ended December 31, 2024 from$4,550,586 for the year ended December 31, 2023. The decrease in revenues was primarily attributed to working capital constraints on inventory.
Total cost of revenues was
Cost of revenues for the construction segment increased by
$956,944 , or21.3% , to$5,439,723 for the year ended December 31, 2024 from$4,482,779 for the year ended December 31, 2023.Cost of revenues for the automotive supplies segment decreased by
$656,852 , or20.8% , to$2,497,865 for the year ended December 31, 2024 from$3,154,717 for the year ended December 31, 2023.
Total personnel costs were
Total general and administrative expenses were
Total professional fees were
Total operating expenses were
Total other expense, net, was
Net loss from continuing operations was
The Company also advises that its audited consolidated financial statements for the fiscal year ended December 31, 2024 included in the Company's Annual Form on 10-K will contain an audit report from its independent registered public accounting firm with a going concern. The Company is required to make public disclosure about this pursuant to NYSE American Company Guide Sections 401(h) and 610(b)).
EBITDA and Adjusted EBITDA
The Company reported Adjusted EBITDA of
| Year Ended December 31, |
| ||||||
| 2024 |
|
| 2023 |
| |||
Net loss from continuing operations |
| $ | (106,804,254 | ) |
| $ | (23,988,403 | ) |
Interest expense |
|
| 4,262,224 |
|
|
| 4,628,194 |
|
Income tax benefit |
|
| (702,000 | ) |
|
| (209,000 | ) |
Depreciation and amortization |
|
| 655,658 |
|
|
| 1,162,295 |
|
EBITDA |
|
| (102,588,372 | ) |
|
| (18,406,914 | ) |
Other (income) expense |
|
| 1,263,983 |
|
|
| (12,611 | ) |
Gain on disposal of property and equipment |
|
| (13,000 | ) |
|
| - |
|
Amortization of debt discounts |
|
| 9,047,721 |
|
|
| 4,232,231 |
|
Loss on extinguishment of debt |
|
| 4,709,793 |
|
|
| - |
|
Loss on change in fair value of warrant liabilities |
|
| 77,638,662 |
|
|
| 27,900 |
|
Gain on change in fair value of derivative liabilities |
|
| (1,401,373 | ) |
|
| (385,138 | ) |
Impairment of goodwill and intangible assets |
|
| 679,175 |
|
|
| 10,456,087 |
|
Professional fees |
|
| 5,086,532 |
|
|
| - |
|
Management fees |
|
| 2,267,000 |
|
|
| 633,333 |
|
Adjusted EBITDA |
| $ | (3,309,879 | ) |
| $ | (3,455,112 | ) |
About 1847 Holdings LLC
1847 Holdings LLC (NYSE American:EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.
For the latest insights, follow 1847 on Twitter.
Forward-Looking Statements
This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.
Contact:
Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com
SOURCE: 1847 Holdings LLC
View the original press release on ACCESS Newswire
FAQ
What was EFSH's revenue growth in 2024?
How much did EFSH sell High Mountain for in 2024?
What are EFSH's revenue projections for 2025 and 2026?
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How did EFSH's construction segment perform in 2024?
