Reaffirming 2023 revenue guidance to exceed $90 million
NEW YORK, NY / ACCESSWIRE / July 10, 2023 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today provided preliminary revenue guidance for the second quarter of 2023. The Company currently projects revenue for the second quarter of 2023 of approximately $20 million, representing year-over-year growth of 54% vs the second quarter 2022. Revenue projections for the second quarter of 2023 have not been reviewed or audited.
Mr. Ellery W. Roberts, CEO of 1847 Holdings, commented, "I am pleased to report that our growth and synergy thesis is playing out as we had hoped and that is reflected in the 54% increase in revenue for the second quarter of 2023. To provide additional context, our projected revenue of over $20 million for the second quarter alone is more than 40% of what we generated in all of 2022. We attribute this strong performance to the strength of our platform and our ability to support the growth of our portfolio companies, while at the same time improving their profitability. Due to our demonstrated year-over-year and sequential quarterly growth, we are reaffirming our prior guidance of revenue in excess of $90 million in 2023."
About 1847 Holdings LLC
1847 Holdings LLC (NYSE American: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.
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Forward-Looking Statements
This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.
Projected revenue for the second quarter of 2023 has not been reviewed or audited and is subject to change based upon the completion of a review by our independent auditors.
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SOURCE: 1847 Holdings LLC