1847 Holdings Announces Q3 Revenue of $13.6M, Up from $3.8M Last Year
Operational Turnaround: 1847's CEO, Ellery W. Roberts, highlighted a significant operational turnaround, with CMD Inc. driving a 256% year-over-year revenue growth to $13.6 million and an 180% increase in gross profit to $6.7 million.
Profitability Achieved: The company reported an operating income improvement of $5.9 million to $2.6 million, achieving profitability even after excluding non-cash gains related to warrant liabilities.
Strategic Growth Plans: The strong performance of CMD validates the acquisition strategy, allowing reinvestment in capital-constrained portfolio companies like Kyle's Custom Wood Shop and Wolo Manufacturing Corp.
Wolo's Strategic Review: Wolo Manufacturing Corp. will focus on rebuilding rather than divesting, streamlining operations, and enhancing e-commerce growth channels to position for sustainable, profitable growth.
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