Envela Reports Second Quarter 2024 Financial Results

Written by Emily J. Thompson, Senior Investment Analyst

Source: accesswire

Updated: Aug 07 2024

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ELA+1.44%

Should l Buy ELA?

Source: accesswire

Financial Performance: Envela Corporation reported second-quarter revenue of $45.3 million, a decrease from the previous year, but achieved a gross margin improvement to 25.1%. The Commercial Division saw a revenue increase of 16.2%, while the Consumer Division experienced a 19.3% decline due to reduced demand for bullion and new store costs.
Strategic Developments: The company is expanding its retail presence with new store launches focused on authenticated luxury goods and enhancing customer engagement through innovative services like Bijoux Exchange. Management emphasized their commitment to operational discipline and sustainability in both divisions.

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Analyst Views on ELA

Wall Street analysts forecast ELA stock price to fall

2 Analyst Rating

2 Buy

0 Hold

0 Sell

Moderate Buy

Current: 13.220

Low

12.00

Averages

13.00

High

14.00

Current: 13.220

Low

12.00

Averages

13.00

High

14.00

B. Riley

Buy

maintain

$11 -> $14

2025-11-10

Reason

B. Riley

Price Target

$11 -> $14

AI Analysis

2025-11-10

maintain

Buy

Reason

B. Riley raised the firm's price target on Envela to $14 from $11 and keeps a Buy rating on the shares. Envela reported Q3 results with sales and AEBITDA above expectations, while gross margins were mixed, the analyst tells investors in a research note. Operational efficiencies, expanding retail footprint, and ongoing commercial contract opportunities, along with potential M&A, position Envela for continued top- and bottom-line growth into FY26, B. Riley adds.

Lake Street

Mark Argento

Buy

maintain

$9 -> $12

2025-11-06

Reason

Lake Street

Mark Argento

Price Target

$9 -> $12

2025-11-06

maintain

Buy

Reason

Lake Street analyst Mark Argento raised the firm's price target on Envela to $12 from $9 and keeps a Buy rating on the shares following what the firm calls "a strong Q3 performance." Higher gold prices boosted revenues in the consumer segment, while cost rationalization improved commercial margins, notes the analyst, who anticipates further upside as both businesses grow.

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About ELA

Envela Corporation is a provider of re-commerce services. The Company reuses, recycles, and reimagines to offer consumers alternatives. As a sustainability-focused company, it extends product lifecycles to minimize resource consumption and carbon emissions. The Company’s core business lines focus on extending the lifespan of products through buying and selling goods in the secondary market. The Company's segments include Commercial and Consumer. The Commercial segment provides solutions for de-manufacturing end-of-life electronic assets, reclaiming base and precious metals, and other saleable materials, while also expanding its presence in the information technology (IT) asset disposition (ITAD) industry. The Consumer segment focuses on selling authenticated high-end luxury goods, including pre-owned and repurposed fine jewelry, diamonds, gemstones, luxury watches, and secondary market bullion. The Consumer segment includes retail stores and online platforms.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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B. Riley Securities Maintains Buy on Envela, Raises Price Target to $11

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Envela reports Q4 EPS 6c vs. 5c last year

Mar 26 2025Business Insider

Financial Performance: Envela reported Q4 revenue of $48.32 million, exceeding the consensus estimate of $40.63 million, and achieved a record net cash position of $7.1 million for fiscal year 2024, highlighting strong operating cash flow and disciplined capital management.
Growth Initiatives: The company celebrated its 60th anniversary with significant growth in its commercial segment, reaching an all-time high adjusted EBITDA of $9.0 million, and expanded its consumer presence by opening five new stores, contributing to a 6.4% increase in gross margin.

Envela Corporation (ELA) Beats Q3 Earnings and Revenue Estimates

Nov 06 2024NASDAQ.COM

Envela Corporation Earnings Report: Envela Corporation reported quarterly earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of $0.03 and showing a revenue of $46.9 million, surpassing estimates by 17.69%. The company has consistently outperformed consensus EPS and revenue estimates over the last four quarters.
Market Outlook and Industry Performance: Despite a 10.5% increase in shares this year, Envela's stock is expected to perform in line with the market due to mixed earnings estimate revisions, holding a Zacks Rank #3 (Hold). The Retail - Jewelry industry is currently ranked in the bottom 12% of Zacks industries, which may impact future performance.