1847 reports 15.0% increase in revenue to $14.9 million for the first quarter of 2024

Gross profit increases 13.3% in q1 2024 vs q1 2023   new york, ny / accesswire / may 16, 2024 / 1847 holdings llc("1847" or the "company") (nyse american:efsh), a holding company specializing in identifying over-looked, deep value investment opportunities in middle market businesses, today provided a business update and reported financial results for the first quarter ended march 31, 2024. q1 2024 key highlights total revenue was $14.9m in q1 2024 compared to $13.0m in q1 2023, a 15.0% year-over-year increase gross profit was $5.6m in q1 2024 compared to $4.9m in q1 2023, a 13.3% year-over-year increase executed letter of intent to sell 1847 cabinets inc. for $27.6 million executed non-binding loi to acquire a large, established millwork, cabinetry and door manufacturer based in las vegas, nv with revenues of $28.6 million, with a purchase price of $16.75 million which represents approximately 3.2x 2023 ebitda announced icu eyewear subsidiary diversified manufacturing to reduce production costs and fortify supply chain announced icu eyewear subsidiary's strategic expansion of partnerships, adding 300 new locations with leading us retailer completed refinancing and upsizing of $15 million revolving credit facility for icu eyewear subsidiary expanded wolo manufacturing corp subsidiary into india through supply chain diversification program restructured promissory notes to non-dilutive debt instruments divested asien's appliance business, significantly enhancing balance sheet mr.
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