Shares of 1847 Holdings (NYSE: EFSH) shot up in morning trading on Monday after the holding company announced its financial outlook for FY22 and FY23.
The diversified acquisition holding company anticipates generating revenues exceeding $60 million, a gross profit margin of around 40%, and expects cash flow from operations to be more than $7 million.
Ellery W. Roberts, CEO of 1847 Holdings, commented, “We continue to execute on our business model of acquiring undervalued, cash flow positive, lower-middle market businesses.”
Roberts added, “The historical strength of our financial results has allowed us to offer our shareholders a meaningful cash dividend, which we expect will exceed $2 million in 2023, reflecting the continued growth and projected profitability of our portfolio companies.”
