Welcome to our dedicated page for 1847 Holdings news (Ticker: EFSH), a resource for investors and traders seeking the latest updates and insights on 1847 Holdings stock.
1847 Holdings LLC, through its subsidiaries, provides a wide range of products and services for agriculture, construction, lawn, and garden industries in North America. The company operates through two segments: land management services and retail and appliances. The land management services segment offers waste disposal and various agricultural services, such as manure spreading, land rolling, bin whipping, cleaning of bulk storage bins and silos, equipment rental, trucking, vacuuming, building erection, various shop, and other services to local agricultural and farming communities. It also wholesales agricultural equipment and parts. On the other hand, the retail and appliances segment provides appliance services, including sales, delivery/installation, in-home service and repair, extended warranties, and financing to homeowners, builders, and designers. Furthermore, the company designs, builds, and installs custom cabinetry primarily for custom and semi-custom builders. 1847 Partners LLC serves as the manager of 1847 Holdings LLC.
1847 Holdings LLC is a diversified holding company operating in four segments: Retail and appliances, Retail and Eyewear, Construction, and Automotive Supplies. The company mainly generates revenue from the Construction segment. Through its subsidiaries, 1847 Holdings provides various land application services, sells equipment and parts, and focuses on the agricultural, construction, and lawn and garden industries.
1847 Holdings reported a 15% year-over-year increase in revenue for Q1 2024, reaching $14.9 million. Gross profit also rose by 13.3% to $5.6 million. The company executed a Letter of Intent to sell 1847 Cabinets for $27.6 million and another non-binding LOI to acquire a Las Vegas-based cabinetry manufacturer for $16.75 million. Notable subsidiary developments include ICU Eyewear's diversification in manufacturing and partnership expansion, and Wolo Manufacturing's supply chain diversification into India. The company restructured promissory notes and divested Asien's Appliance, improving the balance sheet. Despite these positives, 1847 Holdings reported a significant net loss of $11.2 million for Q1 2024, primarily due to increased operating expenses and amortization of debt discounts.
1847 Holdings has re-engaged ShareIntel to investigate potentially improper and illegal trading activity in the company's common stock. The company aims to enhance corporate governance, monitor trading activity, and ensure regulatory compliance. Despite positive fundamentals and a recent $27.6 million deal, the CEO suspects market manipulation and illegal trading, including naked short selling.
1847 Holdings , a company focusing on identifying undervalued investment opportunities, provided an update on the sale of its subsidiary, 1847 Cabinets Inc. The prospective buyer proposed an enterprise value of $27.6 million, including earn-out payments, representing a 5.91x multiple of 2023 EBITDA. The transaction is progressing through due diligence, with the closing expected within 90 days. The CEO, Mr. Ellery W. Roberts, highlighted plans to utilize proceeds for debt repayment, working capital, acquisitions, and potentially share repurchases, aiming to maximize shareholder value.
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