LMP Announces a Definitive Acquisition Agreement to Purchase an 85% Interest in the Alan Jay Automotive Network, a 12-Dealership Group in Florida, Along with the Associated Real Estate, Generating Approximately $345 Million in Annualized Re
- FORT LAUDERDALE, FL , Sept. 13, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced its entry into definitive acquisition agreements to purchase an 85% interest in the Alan Jay Automotive Network, a 12-dealership group in Florida, along with the associated real estate, generating approximately $345 million in annualized revenue and $18.3 million in adjusted EBITDA.
- 09/13/2021
|
LMP Announces a Definitive Acquisition Agreement for a Chrysler Dodge Jeep Ram Dealership in Tennessee, Generating Approximately $42 Million in Annualized Revenue and $1.4 Million in Adjusted EBITDA
- FORT LAUDERDALE, FL , Aug. 24, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced its entry into a definitive acquisition agreement for a Chrysler Dodge Jeep Ram dealership in Tennessee, generating approximately $42 million in annualized revenue and $1.4 million in adjusted EBITDA.
- 08/24/2021
|
LMP Automotive's (LMPX) CEO Sam Tawfik on Q2 2021 Results - Earnings Call Transcript
- LMP Automotive's (LMPX) CEO Sam Tawfik on Q2 2021 Results - Earnings Call Transcript
- 08/13/2021
|
LMP Automotive Acquires Kia Dealership In New York For $14M
- Automotive retailer LMP Automotive Holdings Inc (NASDAQ: LMPX) has acquired a Kia dealership in New York for $14 million to expand its Northeast footprint further. LMP expects the deal to add $2.7 million in adjusted EBITDA or $0.26 per share in 2022.
- 08/09/2021
|
LMP Announces a Definitive Acquisition Agreement for a Kia Dealership in New York, Generating Approximately $82 Million in Annualized Revenue and $2.7 Million in Adjusted EBITDA
- FORT LAUDERDALE, FL , Aug. 09, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced its entry into a definitive acquisition agreement for a Kia dealership in New York, generating approximately $82 million in annualized revenue and $2 .7 million in adjusted EBITDA.
- 08/09/2021
|
LMP Automotive Stock Gains On Acquiring Chrysler Dodge Jeep Ram Dealership In New York
- LMP Automotive Holdings Inc (NASDAQ: LMPX) has entered an acquisition agreement for a Chrysler Dodge Jeep Ram dealership in New York for a purchase price of about $11 million for goodwill and $8.2 million for the associated real estate. It expects the deal to add about $2.6 million in adjusted EBITDA or $0.26 per share in 2022.
- 07/26/2021
|
LMP Announces a Definitive Acquisition Agreement for a Chrysler Dodge Jeep Ram Dealership in New York, Including the Associated Real Estate, Generating Approximately $80 Million in Annualized Revenue and $2.6 Million in Adjusted EBITDA
- FORT LAUDERDALE, FL , July 26, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced its entry into a definitive acquisition agreement for a Chrysler Dodge Jeep Ram dealership in New York, along with the associated real estate, generating approximately $80 million in annualized revenue and $2.6 million in adjusted EBITDA.
- 07/26/2021
|
LMPX Stock Increased Over 10% Intraday: Why It Happened
- The stock price of LMP Automotive Holdings Inc (NASDAQ: LMPX) increased by over 10% during intraday trading. This is why it happened.
- 07/22/2021
|
LMP Automotive Stock Jumps After Deal To Buy GM, Nissan Dealerships In Texas For $141M
- LMP Automotive Holdings Inc (NASDAQ: LMPX) has acquired certain dealerships of General Motors Company (NYSE: GM) and Nissan Motor Co Ltd (OTC: NSANY) in Texas, along with the associated real estate, for about $141 million. The company expects this deal to add about $27 million in adjusted EBITDA or $2.19 per share and $250 million in annualized revenue in 2022.
- 07/19/2021
|
LMP Announces a Definitive Acquisition Agreement for General Motors and Nissan Dealerships in Texas, Including the Associated Real Estate, Generating Approximately $250 Million in Annualized Revenue and $27 Million in Adjusted EBITDA
- FORT LAUDERDALE, FL , July 19, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced its entry into a definitive acquisition agreement for General Motors and Nissan dealerships in Texas, along with the associated real estate, generating approximately $250 million in annualized revenue and $27 million in adjusted EBITDA.
- 07/19/2021
|
LMP Automotive Holdings, Inc. Announces an Addition to it's Senior Management Team
- FORT LAUDERDALE, FL , July 16, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today announced its addition of James Serenius as Senior Corporate Controller.
- 07/16/2021
|
LMP Automotive Holdings, Inc. Announces Senior Management Addition
- FORT LAUDERDALE, FL, July 12, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today Announced Senior Management Addition.
- 07/12/2021
|
LMP Automotive Stock Increases Over 15% Pre-Market: Why It Happened
- The stock price of LMP Automotive Holdings Inc (NASDAQ: LMPX) increased by over 15% pre-market. This is why it happened.
- 07/09/2021
|
LMP Automotive Holdings, Inc. Announces Board Approval for Debt Refinancing and Conditional Approval of a Stock Buy Back and Dividend
- FORT LAUDERDALE, FL, July 08, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today announced that the Board has authorized a debt refinancing, and subject to the conditions of such debt refinancing, a stock buy back and dividend.
- 07/08/2021
|
LMP Automotive Appoints Robert Bellaflores As CFO
- LMP Automotive Holdings Inc (NASDAQ: LMPX) has appointed Robert Bellaflores as its Chief Financial Officer, effective immediately. Before joining the company, Bellaflores worked as a senior executive in the Projects Division of Steven Douglas & Associates.
- 07/07/2021
|
LMP Automotive Holdings, Inc. Announces the Appointment of Robert Bellaflores as Chief Financial Officer
- Fort Lauderdale, Florida , July 07, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today Announced the Appointment of Robert Bellaflores as Chief Financial Officer.
- 07/07/2021
|
LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q1 2021 Results - Earnings Call Transcript
- LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q1 2021 Results - Earnings Call Transcript
- 06/29/2021
|
CORRECTING and REPLACING - LMP Automotive Holdings, Inc. Announces First Quarter Financial Results And Provides Second Quarter Internal Outlook
- In a release issued earlier today under the same headline by LMP Automotive Holdings, Inc. (NASDAQ: LMPX), please note that the table for EBITDA over the three month periods included incorrect figures. The figures changed for the three months ended March 31, 2020. The corrected table is included in the release below.
- 06/29/2021
|
LMP Automotive Holdings, Inc. Announces First Quarter Financial Results And Provides Second Quarter Internal Outlook
- First Quarter 2021 Highlights All financial comparisons stated below are versus Q-1 2020, unless otherwise noted.
- 06/29/2021
|
LMP Automotive Holdings, Inc. Announces it Will Release its First Quarter of 2021 Financial Results and Second Quarter Financial Update and File its Form 10Q for the Period Ending March 31, 2021, on Tuesday, June 29, 2021
- FORT LAUDERDALE, FL, June 17, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (“LMP” or the “Company”) (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced that it will release its first quarter of 2021 financial results and second quarter financial update and file its Form 10Q for the period ending March 31, 2021, on Tuesday, June 29, 2021. As a result of filing its Form 10Q for the period ending March 31, 2021, the Company will regain compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.
- 06/17/2021
|
LMP Automotive Holdings, Inc. Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
- FORT LAUDERDALE, FL , June 01, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (“LMP” or the “Company) (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced that on May 25, 2021, it received a standard notice from Nasdaq indicating that, as a result of not having timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2021, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.
- 06/01/2021
|
LMP Automotive Holdings, Inc. Provides a Corporate Update and Announces Delay of its First Quarter 2021 Financial Results Conference Call
- FORT LAUDERDALE, FL, May 27, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (“LMP” or the “Company”), an e-commerce and facilities-based automotive retailer in the United States, today provided a corporate update and announced a delay of its first quarter 2021 financial results quarterly conference call for the period ended March 31, 2021.
- 05/27/2021
|
LMP Automotive Holdings, Inc. Announces it will Release its First Quarter of 2021 Financial Results and Hold its Quarterly Conference Call on Thursday, May 27,2021
- FORT LAUDERDALE, FL , May 24, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (“LMP” or the “Company) (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced that it will release its first quarter of 2021 financial results conference call, previously scheduled for May 24, 2021 on Thursday, May 27, 2021.
- 05/24/2021
|
LMP Automotive Holdings, Inc. to Report First Quarter 2021 Financial Results and Host Quarterly Conference Call on May 14, 2021
- FORT LAUDERDALE, FL, April 29, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced it will report its first quarter 2021 financial results for the period ended March 31, 2021, before the open of market on Friday, May 14, 2021. On that day, management will hold a conference call at 10:30 a.m. ET to review and discuss the company's business and results.
- 04/29/2021
|
LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q4 2020 Results - Earnings Call Transcript
- LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q4 2020 Results - Earnings Call Transcript
- 03/25/2021
|
LMP Announces Acquisition Closing of Bachman-Bernard Chevrolet-Buick-GMC-Cadillac Along with its Associated Real Estate
- FORT LAUDERDALE, Fla., March 24, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced the closing of its acquisition of Bachman-Bernard Chevrolet-Buick-GMC-Cadillac along with its associated real estate.
- 03/24/2021
|
LMP Automotive Holdings, Inc. Announces the Release of its Next Generation, Integrated E-commerce Website, lmpmotors.com
- FORT LAUDERDALE, Fla., March 10, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced the release of its next generation, integrated e-commerce website, lmpmotors.com.
- 03/10/2021
|
LMP Automotive Holdings, Inc. to Report Fourth Quarter and Fiscal Year 2020 Results and Host Quarterly Conference Call on March 25
- FORT LAUDERDALE, Fla., March 10, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced it will report its fourth quarter and full year 2020 financial results for the period ended December 31, 2020, following the close of market on Thursday, March 25, 2021. On that day, management will hold a conference call at 4:30 p.m. ET to review and discuss the company's business and results.
- 03/10/2021
|
LMP Announces the Acquisition and Closing of a Majority Interest in LTO Holdings, LLC in a Cash and Stock Deal Through LMP's Wholly-Owned Subsidiary, LMP Finance, LLC
- FORT LAUDERDALE, Fla., March 09, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced the acquisition and closing of a majority interest in LTO Holdings, LLC (“LTO”) in a cash and stock deal through LMP's wholly-owned subsidiary, LMP Finance, LLC.
- 03/09/2021
|
LMP Announces Closings on its Stage 1 Acquisitions and Expects its Highest Revenue and Gross Profit this Month in the History of the Company
- FORT LAUDERDALE, Fla., March 05, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced closings on its stage 1 acquisitions, which it expects to lead to its highest revenue and gross profit this month in the history of the company.
- 03/05/2021
|
LMP Announces Closing of $20 Million Private Placement of Series A Convertible Preferred Stock
- FORT LAUDERDALE, Fla., Feb. 26, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced that it has closed its previously announced private placement to a group of institutional investors (the “Investors”), which resulted in gross proceeds to LMP of approximately $20 million, before deducting offering expenses. LMP intends to use the net proceeds to drive growth, including closing on its Stage 1 Acquisitions, which are expected to begin closings in the first week of March, and for working capital purposes.
- 02/26/2021
|
LMP Announces $20 Million Private Placement of Series A Convertible Preferred Stock
- FORT LAUDERDALE, Fla., Feb. 24, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced that it has entered into definitive securities purchase agreements with a group of institutional investors (the “Investors”), which will result in gross proceeds to LMP of approximately $20 million, before deducting offering expenses. LMP intends to use the proceeds to drive growth, including closing on its Stage 1 Acquisitions, which are expected to begin closings in the first week of March, and for working capital purposes.
- 02/24/2021
|
LMP Automotive Holdings, Inc. Engages KPMG as its Independent Auditor for Fiscal Year 2021 and Provides Outlook and Updates on its M&A, Corporate and Other Activities
- FORT LAUDERDALE, Fla., Feb. 11, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has engaged KPMG LLP (“KPMG”) as its independent auditor for the Company's fiscal year ending December 31, 2021 and is providing outlook and updates on its M&A, corporate and other activities.
- 02/11/2021
|
LMP Automotive Holdings, Inc. Revises Atlantic Automotive Groups Acquisition Agreements to a Combination of Cash and LMPX Stock and Excludes Certain Dealerships in a Deal Valued at $330 Million
- FORT LAUDERDALE, Fla., Jan. 13, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has revised its agreements to acquire Atlantic Automotive Group (“AAG”) to a combination of cash and LMPX common stock and to exclude certain dealerships owned by AAG in a deal valued at $330 million.
- 01/13/2021
|
LMP Automotive Holdings, Inc. Receives General Motors' Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions
- FORT LAUDERDALE, Fla., Dec. 23, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has received General Motors' manufacturer approval for certain of its subsidiaries as it relates to its stage 1 Southeast acquisitions.
- 12/23/2020
|
LMP Automotive Holdings, Inc. Receives $192 Million Finance Commitment from Truist Bank for its Stage 1 Southeast Acquisitions
- FORT LAUDERDALE, Fla., Dec. 22, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has entered into a commitment letter with Truist Bank for a $192 Million financing (subject to terms and conditions set forth in the commitment letter) for the Company's Stage 1 southeast acquisitions.
- 12/22/2020
|
LMP Automotive Holdings, Inc. Engages Truist Securities, Inc. as the Lead Arranger for up to a $660M Syndicated Senior Credit Facilities
- FORT LAUDERDALE, Fla., Dec. 10, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has engaged Truist Securities, Inc. as the Lead Arranger for up to a $660 million Syndicated Senior Credit Facilities.
- 12/10/2020
|
LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q3 2020 Results - Earnings Call Transcript
- LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q3 2020 Results - Earnings Call Transcript
- 11/12/2020
|
LMP Automotive Holdings, Inc. Announces Record Growth and Third Quarter Financial Results
- All financial comparisons stated below are versus Q2 2020, unless otherwise noted
- 11/12/2020
|
LMP Automotive Holdings Interview to Air on Bloomberg International on the RedChip Money Report
- FORT LAUDERDALE, Fla., Oct. 30, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the "Company" or "LMP"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, announced that an interview with Sam Tawfik, Chief Executive Officer, will air on The RedChip Money Report television program this Sunday November 1st. The RedChip Money Report airs in 100 million homes on Sundays at 6 p.m. local time in every country in Europe on Bloomberg International.
- 10/30/2020
|
Now, drive Maruti Swift, Dzire, Vitara Brezza, Ertiga without owning it
- Maruti Suzuki Subscribe gives you the opportunity to use a new car without actually owning it.
- 09/24/2020
|
Use new car every year without owning it with Maruti Suzuki's 'Subscribe'; know how
- Maruti Suzuki has announced the launch of 'Maruti Suzuki Subscribe,' a vehicle subscription program for individuals in 4 cities, including Delhi, NCR and Bengaluru. Check details.
- 09/24/2020
|
Wall Street Breakfast: The Week Ahead
- Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify.
- 08/22/2020
|
LMP Automotive Holdings, Inc. (LMPX) CEO Sam Tawfik on Q2 2020 Results - Earnings Call Transcript
- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) Q2 2020 Earnings Conference Call August 14, 2020 05:30 PM ET Company Participants John Mattio - IR Sam Tawfik - President and Chief Executive Officer Conference Call Participants Presentation Operator Thank you for standing by.
- 08/14/2020
|
LMP Automotive Holdings, Inc. Announces Record Second Quarter Financial Results
- * Revenue Increased 44% to $7.7M * Gross Profits Increased 85% to $1.5M * Cash at end of Quarter of $17.7M * Shareholder Equity at end of Quarter of $32.2M * Adjusted EBITDA of $0.6M and increase of $1.4M to $0.06 Per Share * Adjusted Net Income of $0.2M and increase of $1.3M to $0.02 Per ShareAll financial comparisons stated below are versus Q1 2020, unless otherwise notedPLANTATION, Fla., Aug. 14, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced its first quarter 2020 financial results for the period ended June 30, 2020. As previously announced, Management will hold a conference call at 5:30 p.m. ET to review and discuss the Company's business and results. Summary of Q2 2020 Results All financial comparisons stated below are versus Q1 2020, unless otherwise noted * Revenue totaled $7.716 million, an increase of 44%; * Total gross profit was $1,521 million, an increase of 85%; * Gross profit margin was 19.7%, an increase of 85%; * Net income was $216 thousand, an increase of $1.936 million to .02 per share based on 9.92 million shares issued and outstanding; * Net Income margin was 2.8%, an increase from (32.2%); * Cash, shareholder equity, and current shares outstanding at the end of the quarter was $17,650,438, $32,203,868, and 9,924,506, respectively; * Adjusted EBITDA1 was $625 thousand, an increase of $1.396 million to $0.06 per share; * Adjusted EBITDA1 margin was 8.1%, an increase from (14.4) %; * Adjusted net income was $242 thousand, and $0.02 per share; * Adjusted net income margin was 3.1%; Sam Tawfik, the Company’s Chairman and Chief Executive Officer commented, “The strong sequential improvements throughout the quarter, coupled with our responsiveness to the current environment, led us to the highest quarterly revenue and earnings per share in our history. This record performance illustrates the immense opportunity that exists within our industry that we are exploiting through continued growth and the activation of our e-commerce sales, subscription, and dealership acquisition strategy. The way the team handled the dynamic and difficult environment is a testament to what the future can bring….we have only just begun and are extremely proud of our team,” Mr. Tawfik added, “In July, we announced an agreement to purchase our first Franchise Dealership located in the Southeast region of the United States. We are seeing a robust acquisition market as we continue to build our pipeline of prospective dealership acquisitions and intend accelerating our acquisition strategy moving forward. Looking forward, we are as optimistic as ever and focused on our next-generation of innovation and growth as we roll-out e-commerce home delivery, site-to-store, and ship-from-store delivery strategies for our customers and demonstrate the value of our e-commerce hybrid model at the growing list of auto dealerships we intend to acquire”.Tawfik concluded, “At LMP, we intend to demonstrate rapid, efficient, and profitable expansion in the online-centric economy. LMP is focused on acquiring dealer groups to create concentrated clusters of dealerships to derive maximum SG&A efficiency while expanding consumer product and delivery optionality. At the same time, we plan on maintaining each dealership’s local brand recognition and online presence while simultaneously aggregating the dealership’s new and used inventory on lmpmotors.com. By leveraging our access to acquired dealership inventories we can create one of the largest and most diverse online stores, providing consumers multiple vehicle and ownership. We plan to grow revenues and earnings of dealerships that we acquire by adding e-commerce and subscription options for their customers as well as “tech” enabling them. We believe this combined approach will produce continued revenue and earnings growth for us and our shareholders.”Second Quarter 2020 Financial Results Discussion All financial comparisons stated below are versus Q1 2020, unless otherwise notedTotal revenue in the second quarter of 2020 increased 44% to $7.716 million, compared to $5.350 million in the first quarter of 2020. The growth in sequential revenue in the second quarter of 2020 was primarily driven by the increase in sales from ‘sales-type’ lease contracts, and increased vehicle sales revenues.Gross profit in the second quarter of 2020 increased 85% to $1.521 million, compared to $820,428, in the first quarter of 2020. The growth in sequential gross profits was driven by the gross margins recognized on sales-type lease contracts and increased gross margins on vehicle sales revenues.The Company’s SG&A expenses were $675,135 during the three-month period ended June 30, 2020, a decrease of $1,025,481 versus $1,700,616 during the three-month period ended March 31, 2020. The decrease is mainly due to expenses related to payroll of approximately $596,000, travel costs of approximately $202,000, contingencies of approximately $111,000, outside services of approximately $81,000 and administrative expenses approximately $35,000 associated with the Company’s follow-on public offering and asset purchase in February 2020.Acquisition, consulting, and legal expenses were $280,650 during the three months ended June 30, 2020, as compared to $398,270 during the previous three-month period ended March 31, 2020. The decrease in expenses in the second quarter is mainly due to costs associated with prospective acquisition due diligence and the Company’s follow on offering in February 2020.Net income in the second quarter of 2020 totaled $ 216,102, or a profit of $0.02 per share, compared to a net loss of $1,720,188, or a loss of $0.18 per share, in the first quarter of 2020. Total shares outstanding as of June 30, 2020 were 9,924,506, versus 9,326,054 on March 31, 2020.Cash totaled $17,650,438 at June 30, 2020. This represented a decrease of $372,840 from $18,023,278 at March 31, 2020. The decrease was primarily the result of vehicle purchases.Additional Second Quarter 2020 Highlights All financial comparisons stated below are versus Q1 2020, unless otherwise noted.Q2 2020 GAAP Results * Revenue of $7,715,764, an increase of $2,366,051 as compared to Q1 2020; * Subscription fees revenue of $505,931, as compared to $573,722 in Q1 2020; * Total gross profit of $1,520,773, an improvement of $700,345 as compared to Q1 2020; * Net income of $216,102, an increase of $1,936,290 as compared to Q1 2020; * Net automotive inventory was $11,505,588 at the close of the second quarter of 2020; * Net income per share of $0.02, based on weighted average shares of common stock outstanding of 9.9 million shares; * Shares of common stock outstanding at the end of the quarter was 9,924,506 shares; and * Stockholder equity at the end of the year was $32.2 million, an increase of $182 thousand from Q1 2020.Q2 2020 Non-GAAP Results All financial comparisons stated below are versus Q1 2020, unless otherwise noted. * Adjusted EBITDA2 was $625,117, an increase of $1,396,106 as compared to Q1 2020; * Adjusted Net Income was $241,695, an increase of $1,261,639 as compared to Q1 2020; * Subscription Leasing margin1 decreased from 91.9% to 82.5% as compared to Q1 2020; a decrease of 24.4%; * Vehicle Sales Margins1 increased from 5.2% to 13.8% as compared to Q1 2020, an increase of 301.4%.2020 OutlookSalesLMP Management identified a sales rebound in April, which continued to improve throughout the quarter. Management also witnessed this sales strength continued in July through the first part of August.LMP believes COVID-19 has caused a re-evaluation of shopping behavior. Many people who previously would not have considered buying a car online are giving it a second thought. In a recent CarGurus survey, 60% of respondents said they were open to buying a car online vs. 32% before. LMP believes this shift began a while ago and is here to stay.E-commerceWe expect to launch our subscription e-commerce mobile app available at the Apple App Store and Google Play store, along with our next generation e-commerce website this quarter. We expect this to enhance our customer experience, as well as onboarding and processing customer orders quicker, which we hope will result in an increase in future sales.We believe LMP’s subscription and e-commerce technology overlaid at dealerships we intend to acquire will continue to demonstrate the value of our hybrid model of home delivery, site-to-store, and ship-from-store.AcquisitionsWe are seeing a robust acquisition market as we continue to build our pipeline of prospective dealership acquisitions and intend on accelerating our acquisition strategy moving forward, as well as integrating the inventory of our prospective acquisition targets to our main lmpmotors.com online store and mobile app.Conference Call Management will host an investor conference call at 5:30 p.m. ET on Friday, August 14, 2020 to discuss the Company’s Second Quarter 2020 Financial Results and conclude with Q&A from participants. All interested parties can join the call by dialing (855) 327-6837 or (631) 891-4304. A webcast of the call may be accessed at: http://public.viavid.com/index.php?id=141103.An archived webcast of the conference call will be accessible from the Investor Relations section of the company's website, https://investors.lmpah.com/.A telephonic replay of the conference call will be available through Friday, August 28, 2020 by dialing (844) 512-2921 or (412) 317-6671 and entering passcode 10010651.
- 08/14/2020
|
LMP AUTOMOTIVE HOLDINGS, INC. TO REPORT SECOND QUARTER RESULTS AND HOST QUARTERLY CONFERENCE CALL ON AUGUST 14th
- Plantation, FL, July 31, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today it will report its second quarter financial results for the period ended June 30, 2020, following the close of market on Friday, August 14, 2020. On that day, management will hold a conference call at 5:30 p.m. ET to review and discuss the company's business and results.WHATLMP Automotive Holdings Second Quarter Financial Results Conference Call WHEN:Friday August 14, 2020 TIME:5:30 p.m. ET LIVE CALL:(855) 327-6837 or (631) 891-4304 WEBCAST:http://public.viavid.com/index.php?id=141103 An archived webcast of the conference call will be accessible from the Investor Relations section of the Company's website, https://investors.lmpah.com/. A telephonic replay of the conference call will be available through August 28, 2020, by dialing (844) 512-2921 or (412) 317-6671 and entering passcode 10010651.ABOUT LMP AUTOMOTIVE HOLDINGS, INC. – “BUY, SUBSCRIBE, SELL AND REPEAT.” LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” the automobiles to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP’s all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we “Repeat” the whole process.For more information visit: https://lmpmotors.com/.FORWARD-LOOKING STATEMENTS: This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” will,” the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. CONTACT: John Mattio President and Founder Lamnia International (203) 885-1058 jmattio@lamniacom.com
- 07/31/2020
|
Is LMP Automotive Holdings (NASDAQ:LMPX) Weighed On By Its Debt Load?
- Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
- 07/29/2020
|
LMP AUTOMOTIVE HOLDINGS, INC. APPOINTS RICHARD ALDAHAN CHIEF OPERATING OFFICER
- PLANTATION, FL , July 28, 2020 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced the appointment of B. Richard Aldahan as its Chief Operating Officer.“On behalf of LMP and its Board of Directors, I would like to welcome Richard Aldahan to the LMP team” began Sam Tawfik, the Company’s Chairman and Chief Executive Officer. “Richard is joining us at a key moment during our active, dealership-group acquisition strategy. His industry experience makes Richard uniquely qualified to drive strategic prioritization and accountability during our due diligence process on the several targets we have identified. In addition to his deep insight into the business, his operational expertise will help us deploy our industry-leading practices during our next-generation of growth as we roll-out e-commerce home delivery, site-to-store, and ship-from-store delivery strategies for our customers”, Tawfik concluded.Mr. Aldahan’s qualifications span 37 years of automotive industry experience. From 1993 to 2020, Mr. Aldahan held various executive positions as an Owner and Dealer Principal, General Manager, and Treasurer for 13 franchised brands, including Toyota, Chevrolet, Hyundai, and Nissan. LMP believes Mr. Aldahan’s high-level of automotive dealership exposure will bring significant operational, financial and acquisitions expertise to execute its strategies. Effective immediately, Mr. Aldahan will assume responsibility for marketing, operations, and financial and operational due diligence of prospective acquisitions as well as the alignment and prioritization of Company investments to ensure operational excellence across all LMP holdings."LMP's strategy has never been more compelling given the current demand for online vehicle purchases and subscriptions as well as LMP’s current pipeline for prospective dealership-group acquisitions" said Aldahan, LMP’s newly appointed Chief Operating Officer. "I am incredibly energized to help lead LMP to its next phase of innovation and look forward to introduce LMP’s subscription and e-commerce technology at dealerships to continually demonstrate the value of our hybrid model of ecommerce at the growing list of auto dealerships we acquire.”Prior to starting his career in the automotive industry, Mr. Aldahan attended the University of Cincinnati in Ohio and earned a bachelor’s degree in Business Administration in June of 1983. He majored in Finance and Marketing and has been a member of the University of Cincinnati Alumni Association since 1983.ABOUT LMP AUTOMOTIVE HOLDINGS, INC. – “BUY, SUBSCRIBE, SELL AND REPEAT.” LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” the automobiles to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP’s all-inclusive vehicle subscription membership includes monthly swaps and covers insurance, maintenance and upkeep. It offers the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our rental and subscription programs, to customers as well, and then we “Repeat” the whole process. For more information visit: lmpmotors.comFORWARD-LOOKING STATEMENTS: This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” will,” the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. CONTACT: Media Contact: John Mattio President and Founder Lamnia International (203) 885-1058 jmattio@lamniacom.com
- 07/28/2020
|
LMP Automotive Holdings, Inc. Announces the Acquisition of a 75% Interest in a Southeast Toyota Franchise Dealership
- PLANTATION, FL , July 17, 2020 -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company" or “LMP”), an e-commerce and facilities-based platform for consumers who desire to.
- 07/17/2020
|
LMP Automotive Holdings, Inc. Pre-Announces Strong Second Quarter Results Amid COVID-19 Crisis - Significant Increase in Revenue and Operating Profit
- Preliminary Expected Results of Operations Quarter-to-Quarter Revenue Increased 29% to $6.9MGross Profits Increased 33% to $1.1MNet Income Increased by $1.9M to $.02 Per.
- 07/15/2020
|
LMP Automotive Holdings, Inc. Hires Brian D. Finnegan as Executive Manager
- LMP Automotive Holdings, Inc. (LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced the hiring of Brian D. Finnegan as Executive Manager. “On behalf of LMP and its Board of Directors, I would like to welcome Brian Finnegan to the LMP team as Executive Manager” said Sam Tawfik, the Company’s Chairman and Chief Executive Officer.
- 07/06/2020
|
LMP Automotive Holdings, Inc. Hires William E. Myers II as Chief Financial Officer
- LMP Automotive Holdings, Inc. (LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced the hiring of William E. Myers II as Chief Financial Officer. “On behalf of LMP and its Board of Directors, I would like to welcome William “Bill” Myers to the LMP team,” said Sam Tawfik, the Company’s Chairman and Chief Executive Officer, adding that this is perfect timing given the Company’s active acquisition strategy. Mr. Myers will also bring significant mergers and acquisitions expertise as LMP explores prospective acquisitions.
- 06/15/2020
|
LMP Automotive : Hires William E. Myers II as Chief Financial Officer | MarketScreener
|
LMP Automotive Holdings, Inc. Announces First Quarter 2020 Financial Results
- LMP Automotive Holdings, Inc. Announces First Quarter 2020 Financial Results Revenue Increased 76% Quarter to Quarter Gross Profits Increased 50% Cash and Shareholder Equity Increased to over $18M and ...
- 05/14/2020
|
LMP Automotive Holdings, Inc. to Report First Quarter Results and Host Quarterly Conference Call on May 14, 2020
- PLANTATION, FL / ACCESSWIRE / May 8, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, ...
- 05/08/2020
|
OSTK, AR among premarket gainers
- LMP Automotive Holdings (NASDAQ:LMPX) +35%.AgEagle Aerial Systems (NYSEMKT:UAVS) +27%.Soligenix (NASDAQ:SNGX) +25% on positive SGX301 data.Secoo Holding (NASDAQ:SECO) +26% on share repurchase program.
- 04/30/2020
|
15 Consumer Cyclical Stocks Moving In Thursday's Pre-Market Session
- Gainers
• Secoo Holding, Inc. (NASDAQ:SECO) shares increased by 17.42% to $3.10 during Thursday's pre-market session.
• LMP Automotive Holdings, Inc. (NASDAQ:LMPX)...
- 04/30/2020
|
Comparing KAR Auction Services (NYSE:KAR) & LMP Automotive (NYSE:LMPX)
- KAR Auction Services (NYSE:KAR) and LMP Automotive (NASDAQ:LMPX) are both small-cap retail/wholesale companies, but which is the better investment? We will compare the two businesses based on the strength of their earnings, risk, dividends, valuation, institutional ownership, profitability and analyst recommendations. Insider and Institutional Ownership 0.2% of LMP Automotive shares are held by institutional investors. […]
- 04/30/2020
|
CarMax (NYSE:KMX) vs. LMP Automotive (NYSE:LMPX) Head to Head Comparison
- CarMax (NYSE:KMX) and LMP Automotive (NASDAQ:LMPX) are both retail/wholesale companies, but which is the better stock? We will compare the two companies based on the strength of their dividends, institutional ownership, risk, profitability, valuation, analyst recommendations and earnings. Institutional & Insider Ownership 99.8% of CarMax shares are owned by institutional investors. Comparatively, 0.2% of LMP […]
- 04/05/2020
|
Reviewing Copart (NASDAQ:CPRT) and LMP Automotive (NASDAQ:LMPX)
- Copart (NASDAQ:CPRT) and LMP Automotive (NASDAQ:LMPX) are both business services companies, but which is the superior investment? We will contrast the two companies based on the strength of their valuation, analyst recommendations, risk, profitability, earnings, institutional ownership and dividends. Earnings and Valuation This table compares Copart and LMP Automotive’s gross revenue, earnings per share and […]
- 04/05/2020
|
71 Stocks Moving In Monday's Mid-Day Session
- Gainers
Hoth Therapeutics, Inc (NASDAQ: HOTH) shares jumped 99% to $5.50 after the company reported a deal to jointly develop self-assembling vaccine for potential coronavirus...
- 03/23/2020
|
Analyzing Sonic Automotive (NYSE:SAH) & LMP Automotive (NYSE:LMPX)
- Sonic Automotive (NYSE:SAH) and LMP Automotive (NASDAQ:LMPX) are both small-cap retail/wholesale companies, but which is the superior business? We will compare the two businesses based on the strength of their institutional ownership, analyst recommendations, dividends, profitability, valuation, risk and earnings. Analyst Recommendations This is a summary of current recommendations for Sonic Automotive and LMP Automotive, […]
- 03/21/2020
|
LMP Automotive Holdings, Inc. Announces $10M Finance Arrangement with Mercedes-Benz Financial Services and its Franchise Dealership Subscription Launch
- PLANTATION, FL / ACCESSWIRE / March 18, 2020 / LMP Automotive Holdings, Inc. (LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, has entered a $10M Finance Arrangement with Mercedes-Benz Financial Services and its Franchise Dealership Subscription Launch. In addition, over the last three months we launched subscription leasing in six new markets: Maryland, Connecticut, Illinois, Texas, New Jersey and California.
- 03/18/2020
|
Contrasting Group 1 Automotive (NYSE:GPI) and LMP Automotive (NYSE:LMPX)
- LMP Automotive (NASDAQ:LMPX) and Group 1 Automotive (NYSE:GPI) are both small-cap retail/wholesale companies, but which is the superior stock? We will contrast the two businesses based on the strength of their valuation, analyst recommendations, dividends, earnings, profitability, risk and institutional ownership. Profitability This table compares LMP Automotive and Group 1 Automotive’s net margins, return on […]
- 03/18/2020
|
Head to Head Review: Asbury Automotive Group (NYSE:ABG) and LMP Automotive (NYSE:LMPX)
- Asbury Automotive Group (NYSE:ABG) and LMP Automotive (NASDAQ:LMPX) are both small-cap retail/wholesale companies, but which is the superior investment? We will compare the two businesses based on the strength of their risk, earnings, profitability, dividends, analyst recommendations, valuation and institutional ownership. Earnings and Valuation This table compares Asbury Automotive Group and LMP Automotive’s revenue, earnings […]
- 03/14/2020
|
Reviewing LMP Automotive (NASDAQ:LMPX) & Copart (NASDAQ:CPRT)
- LMP Automotive (NASDAQ:LMPX) and Copart (NASDAQ:CPRT) are both retail/wholesale companies, but which is the better stock? We will contrast the two businesses based on the strength of their profitability, valuation, risk, dividends, analyst recommendations, institutional ownership and earnings. Analyst Recommendations This is a breakdown of current ratings and target prices for LMP Automotive and Copart, […]
- 03/11/2020
|
CORRECTION: LMP Automotive Holdings, Inc. Announces Fourth Quarter and Audited Fiscal Year 2019 Financial Results
- PLANTATION, FL / ACCESSWIRE / February 26, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, ...
- 02/26/2020
|
LMP Automotive Holdings, Inc. Announces Fourth Quarter and Audited Fiscal Year 2019 Financial Results
- Company Results Are In Line With Its February 5th Pre-Announced Expectations and 2020 Outlook PLANTATION, FL / ACCESSWIRE / February 25, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), ...
- 02/25/2020
|
Head to Head Contrast: Group 1 Automotive (NYSE:GPI) vs. LMP Automotive (NYSE:LMPX)
- Group 1 Automotive (NYSE:GPI) and LMP Automotive (NASDAQ:LMPX) are both small-cap retail/wholesale companies, but which is the superior business? We will compare the two businesses based on the strength of their dividends, institutional ownership, profitability, valuation, analyst recommendations, risk and earnings. Earnings and Valuation This table compares Group 1 Automotive and LMP Automotive’s top-line revenue, […]
- 02/24/2020
|
LMP Automotive Holdings, Inc. Purchases a $2,871,000 Luxury Fleet and Enters Into a Perpetual Software License For a Vehicle Subscription Service App for its Upcoming Launch in the Apple App and Google Play Stores
- PLANTATION, FL / ACCESSWIRE / February 19, 2020 / LMP Automotive Holdings, Inc. (LMPX) (the "Company" or "LMP"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for, or finance pre-owned and new automobiles, today announced that through its wholly-owned subsidiaries, LMP Finance, LLC and LMP Technologies, LLC, it closed a deal to purchase a luxury fleet of vehicles from Revolve Technology Company, Inc. ("Revolve") for $2,871,000 and entered into a perpetual non-exclusive license for certain software code and other intellectual property with Revolve. The fleet consists of vehicles from Porsche, Mercedes Benz, Lexus, Land Rover, Tesla and other luxury automotive manufacturers.
- 02/20/2020
|
LMP Announces the Closing of Public Offering
- PLANTATION, FL / ACCESSWIRE / February 13, 2020 / LMP Automotive Holdings, Inc. (LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the closing of its public offering of 1,200,000 shares of its common stock at a public offering price of $16.00 per share, for gross proceeds of $19,200,000, prior to deducting underwriting discounts, commissions and other offering expenses. The Company has also granted the underwriter a 45-day over-allotment option to purchase up to an additional 180,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds from the offering primarily for strategic acquisitions, to build the Company's vehicle inventory, for working capital and other general corporate purposes.
- 02/13/2020
|
LMP Automotive Holdings, Inc. to Report Fourth Quarter and Fiscal Year 2019 Results and Host Quarterly Conference Call on February 25
- PLANTATION, FL / ACCESSWIRE / February 13, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, ...
- 02/13/2020
|
LMP Announces Pricing of Public Offering
- PLANTATION, FL / ACCESSWIRE / February 11, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, ...
- 02/11/2020
|
LMP Automotive Holdings, Inc. Provides Update on Fourth Quarter and Full Year 2019 Results and Subsequent Events
- PLANTATION, FL / ACCESSWIRE / February 5, 2020 / LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, ...
- 02/05/2020
|
Financial Comparison: LMP Automotive (NASDAQ:LMPX) versus Camping World (NASDAQ:CWH)
- LMP Automotive (NASDAQ:LMPX) and Camping World (NYSE:CWH) are both small-cap retail/wholesale companies, but which is the better stock? We will contrast the two companies based on the strength of their analyst recommendations, earnings, institutional ownership, dividends, risk, profitability and valuation. Profitability This table compares LMP Automotive and Camping World’s net margins, return on equity and […]
- 02/05/2020
|
LMP Automotive (NASDAQ:LMPX) and Murphy USA (NASDAQ:MUSA) Financial Survey
- Murphy USA (NYSE:MUSA) and LMP Automotive (NASDAQ:LMPX) are both oils/energy companies, but which is the superior investment? We will contrast the two businesses based on the strength of their profitability, valuation, dividends, earnings, risk, analyst recommendations and institutional ownership. Insider & Institutional Ownership 85.9% of Murphy USA shares are held by institutional investors. 6.5% of […]
- 01/29/2020
|
LMP Automotive Holdings, Inc. Appoints Keith M. Locker to its Board of Directors
- PLANTATION, FL / ACCESSWIRE / December 30, 2019 / LMP Automotive Holdings, Inc. (LMPX) (the "Company" or "LMP"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the appointment of Keith M. Locker to its board of directors. "On behalf of LMP and its Board of Directors, I would like to welcome Mr. Locker to the LMP team," said Sam Tawfik, the Company's Chairman and Chief Executive Officer, adding that this is perfect timing given the Company's active acquisition strategy.
- 12/30/2019
|
YayYo, Inc., Enters a Rideshare Rental Fleet Partnership with LMP Automotive Holdings
- BEVERLY HILLS, CA / ACCESSWIRE / December 18, 2019 / YayYo, Inc. ("YayYo" or the "Company") (YAYO), a leading provider of vehicles to the rideshare industry through its wholly-owned subsidiary, Rideshare Car Rentals, today announced California expansion with the opening of a San Diego office, and it's first entry into the lucrative Texas market with a Dallas location. The territory extension was facilitated by a new fleet partnership with LMP Automotive Holdings (LMPX). The recently established relationship with LMP included sourcing cars under a $2.5 million-dollar program that resulted in automotive inventory delivered this month with an additional delivery scheduled for January.
- 12/18/2019
|
LMP Automotive Holdings, Inc. Names Stuart A. Jamieson Director of Acquisitions
- PLANTATION, FL / ACCESSWIRE / December 16, 2019 / LMP Automotive Holdings, Inc. (LMPX) (the "Company" "LMP"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the hiring of Stuart Jamieson as Director of Acquisitions. "On behalf of LMP, I would like to welcome Stuart to the team" said Sam Tawfik, the Company's Chairman and Chief Executive Officer, adding that this is an important step for the Company, because in 2020, LMP intends to become a sophisticated and aggressive, technology-fluent and online-centric, franchise dealership acquirer, targeting dealership groups in the Northeast, Southeast and the Mid-West.
- 12/16/2019
|
Company News for Dec 13, 2019
- Companies in the news are: FB, AMRX, LMPX, TNXP
- 12/13/2019
|
LMP Announces the Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
- PLANTATION, FL / ACCESSWIRE / December 9, 2019 / LMP Automotive Holdings, Inc. (LMPX) (the "Company"), an e-commerce and facilities-based platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles, today announced the closing of its initial public offering of 2,645,000 shares of its common stock at a public offering price of $5.00 per share, which includes 345,000 shares sold upon full exercise of the underwriters' option to purchase additional shares of common stock. The Company intends to use the net proceeds from the offering primarily for strategic acquisitions, to build the Company's vehicle inventory, for working capital and other general corporate purposes. The shares described above were offered by the Company by means of a prospectus forming part of and pursuant to registration statements on Form S-1 (Files No. 333-232172 and 333-235353) previously filed with, and subsequently declared effective by the Securities and Exchange Commission (SEC) or automatically effective, as applicable, on December 4, 2019.
- 12/09/2019
|
LMP Announces Pricing of Initial Public Offering
- LMP Announces Pricing of Initial Public Offering PLANTATION, FL / ACCESSWIRE / December 5, 2019 / LMP Automotive Holdings, Inc. (the "Company"), an e-commerce and facilities-based platform for ...
- 12/05/2019
|
Costa Group (ASX:CGC) rallies: Aus shares 0.7% higher at noon
- 15 Nov 2019 - Aus shares 0.7% higher at noon. Freedom Foods (ASX:FNP) reports acquisition makes Australian Fresh Milk Holdings largest diary producer in Australia.
- 11/15/2019
|
Treasure Chest: AP Eagers Empowered - FNArena
- FNArena's Treasure Chest reports on money making ideas from stockbrokers and other experts. The combination of AP Eagers and Automotive Holdings is now assured and, in reviewing the outlook, brokers find the merger compelling.
- 09/25/2019
|
Wesfarmers downgraded: ASX200 up 1.6% over week
- 22 Feb 2019 - The majority of sectors have made ground today, with the Real Estate, Communications and Consumer Discretionary sectors leading the way. After opening in the red, the ASX200 gained momentum this morning, and has been tracking sideways this afternoon to gain 0.5 per cent.
- 02/27/2019
|
Bank of Queensland shares slide: ASX closed 0.4% higher
- 18 Feb 2019 - It has been a positive day of trade for the Australian share market closing 0.4% higher. Waste management company Bingo Industries (ASX:BIN) saw their shares slump, hit by the apartment building slowdown. They reduced their full-year profit forecast by up to 20%. GWA Group (ASX:GWA) saw their shares rise after announcing a net profit rise of 7.3% for their half year results 2019. Bank of Queensland (ASX:BOQ) shares took a dip today after a $12m guidance downgrade.
- 02/18/2019
|
Tariff concerns flow to ASX: Aus shares 0.2% lower at noon
- 30 Oct 2018 - Market at Midday. ASX snaps two-day rally on Wall Street seeing red on alleged further China tariffs. Australian building approvals beat consensus. Beach Energy (ASX:BPT) rallies 9% higher on upgrade. Amaysim (ASX:AYS) completes a $3m sale. Orocobre (ASX:ORE) reports mixed September quarterly report with revenue lifting 36%.
- 10/30/2018
|
Market Wrap: Aus shares close 0.43% lower
- 23 Feb 2016 - Aus shares close 0.43% lower. Tower Limited (ASX:TWR) says it’s in the early stages of assessing the impact of Cyclone Winston that caused extensive damage in Fiji.
- 02/23/2016
|
