1847 Holdings reports Q3 revenue $4.8M vs. $4.7M last year

Reports Q3 revenue $4.8M vs. $4.7M last year… vs.Cash and cash equivalents, and restricted cash of $10.2 M as of September 30 ..Disposition of ICU Eyewear; eliminated $4.8M of net liabilities from the balance sheet.Mr. Ellery W. Roberts, CEO of 1847 Holdings (EFSH), commented, “We believe the past few months have been transformative for 1847 Holdings as we executed a series of strategic initiatives designed to position the Company for sustained growth and maximize shareholder value over the long term. We remain committed to executing our strategic arbitrage model-acquiring undervalued companies, enhancing their performance, and selling them for a profit. This strategy allows us to leverage market inefficiencies by acquiring assets at lower valuations, improving their operational or financial performance, and then unlocking value through sales or spin-offs at higher valuations. A prime example of our strategy is the recent sale of HMDT. …We ended the third quarter of 2024 with $10.2M of cash and cash equivalents, and restricted cash that can be used in part to close this transaction. Additionally, the successful completion of our $11.1M public offering allowed us to eliminate $6.9 million of debt, significantly strengthening our balance sheet. The disposition of ICU Eyewear further reduced net liabilities by $4.8M. With a strong acquisition pipeline, we expect the upcoming acquisition to significantly boost profitability, deliver substantial cash flow, and negate the need for near-term capital raises. We believe these efforts establish a robust platform for sustainable growth and enhanced shareholder value. By leveraging our industry expertise and operational acumen, we intend to continue to identify and capitalize on high-return opportunities, reinforcing our proven growth model. We remain dedicated to driving value through strategic acquisitions as we expand and fortify our portfolio for long-term success,” concluded Mr. Roberts.