Mar. 26 at 9:01 PM
$ELA Envela reports Q4 EPS 6c vs. 5c last year
Reports Q4 revenue $
$48.32M, consensus
$40.63M. "As we look ahead, we remain focused on creating value for our customers, employees, and shareholders, while continuing to build on the momentum we've established in both segments. We are confident that our ongoing commitment to innovation, customer engagement, and operational excellence will drive continued growth and value for our stakeholders," Loftus concluded.
"As Envela enters its 60th year, we are proud to celebrate six decades of growth, success, and the unwavering commitment of our employees, customers, and stakeholders," said John DeLuca, Envela's CFO. "Fiscal year 2024 was a landmark year for us, highlighted by a record net cash position of
$7.1 million, reflecting our strong operating cash flow and disciplined approach to capital management. This solid financial foundation empowers us to continue driving our growth initiatives while maintaining financial flexibility."
"We are especially pleased with the performance of our commercial segment, where adjusted EBITDA reached an all-time high of
$9.0 million, fueled by continued growth in our ITAD business through expanded asset sourcing and enhanced service relationships. On the consumer side, we successfully opened 5 new stores, bringing our total to 12 locations by year-end.
Though these stores were operational for only the latter half of the year, this expansion contributed to a 6.4% year-over-year increase in gross margin, reaching
$44.3 million." "Looking ahead, we want to continue building on the momentum of eight consecutive years of net income. And we're excited to continue engaging with the investment community as we position Envela for long-term success," DeLuca concluded.
