EzFill to Begin Mobile Fuel Service for Millwork Sales and Batesville

Rhea-AI Summary

EzFill Holdings, Inc. expands its business in Tampa and Orlando markets by signing fuel delivery agreements with two new fleet customers, Millwork Sales and Batesville. The new customers are expected to contribute approximately 175,000 gallons per year and $752,000 in revenues per year. EzFill's CEO attributes this growth to the team's efforts and resilience.

Insights

Market Research Analyst

The addition of new fleet customers by EzFill Holdings, Inc. signifies a strategic move to strengthen its position in the mobile fuel industry. The expected increase of 175,000 gallons per year in fuel deliveries is a substantial volume that could positively impact the company's throughput and operational efficiency. The projected additional revenue of $752,000 annually suggests a significant boost to the company's top-line figures. However, it's essential to assess these numbers in the context of the company's overall revenue to determine the true impact. Investors should consider the scalability of EzFill's operations and whether their infrastructure can support the growth without incurring disproportionate costs.

Financial Analyst

From a financial perspective, the announcement by EzFill is a positive indicator of growth, especially if the company can maintain its profit margins with the increased sales volume. The revenue from the new fleet accounts should be viewed in light of the company's operating expenses, capital expenditures and cash flow. Investors would benefit from understanding the cost structure associated with servicing the new accounts, such as the potential need for additional assets or personnel. Furthermore, the impact on the company's stock could be more pronounced if these agreements are part of a larger trend of gaining market share in the Tampa and Orlando markets.

Energy Sector Analyst

The mobile fuel industry is a niche but growing segment within the broader energy sector. EzFill's expansion within this space, particularly in the Tampa and Orlando markets, could indicate a strategic focus on regional growth. It's important to monitor how this expansion aligns with broader industry trends, such as the shift towards alternative fuel sources and the impact of regulatory changes on mobile fueling operations. While the immediate revenue increase is promising, the long-term viability of these agreements will depend on the company's ability to adapt to evolving market conditions and consumer preferences within the energy sector.

Expanding Business in its Tampa and Orlando Markets

MIAMI, FL, March 20, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fuel industry, announced that it has signed fuel delivery agreements with two new fleet customers.

The new fleet accounts Millwork Sales and Batesville are supplies companies in the Tampa and Orlando markets. The new customers have joined the EzFleet platform.

Yehuda Levy, EzFill’s Interim Chief Executive Officer, commented, “The new fleets are expected to add approximately 175,000 gallons per year and approximately $752,000 in revenues per year. The continued addition of new fleet customers are a direct result of our team’s hard work and resilience. Our operations, our delivery drivers, and our back office have been putting in the work and this shows in our continued growth.”

About EzFill

EzFill is a leader in the fast-growing mobile fuel industry, with the largest market share in its home state of Florida. Its mission is to disrupt the gas station fueling model by providing consumers and businesses with the convenience, safety, and touch-free benefits of on-demand fueling services brought directly to their locations. For commercial and specialty customers, at-site delivery during downtimes enables operators to begin their daily operations with fully fueled vehicles. For more information, visit www.ezfl.com.

With the number of gas stations in the U.S. continuing to decline, corporate giants such as Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry, in companies such as Booster and Yoshi. As the only company to provide fuel delivery in three verticals – consumer, commercial, and specialty including marine and construction equipment, we believe EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options.

Forward Looking Statements

This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.

For further information, please contact:

Investor and Media Contact
Telx, Inc.
Paula Luna
Paula@Telxcomputers.com

FAQ

What markets is EzFill expanding its business in?

EzFill is expanding its business in the Tampa and Orlando markets.

Who are the new fleet customers that EzFill signed agreements with?

EzFill signed agreements with Millwork Sales and Batesville.

How much are the new fleet customers expected to add in terms of gallons per year?

The new fleet customers are expected to add approximately 175,000 gallons per year.

How much in revenues per year are the new fleet customers expected to contribute?

The new fleet customers are expected to contribute approximately $752,000 in revenues per year.

Who is EzFill's Interim Chief Executive Officer?

Yehuda Levy is EzFill's Interim Chief Executive Officer.