Humble Imports, Inc., The Wholly Owned Subsidiary Of ECD Automotive Design, Reports Q3 2023 Results; Revenue Increased 68% To $6.2M
Portfolio Pulse from Benzinga Newsdesk
Humble Imports, Inc., a subsidiary of ECD Automotive Design, reported a significant increase in Q3 2023 revenue, up 68% to $6.2M. Vehicle deliveries rose 27% to 19 vehicles, with the average selling price per vehicle increasing by 33% to $325,215, attributed to higher customization and the introduction of the Jaguar E-Type. Gross margin improved to 35.4% in Q3 2023 from 25.7% in Q3 2022, and net income reached $668,000 compared to a net loss of $86,000 in Q3 2022. CEO Scott Wallace highlighted strong fundamentals, growth plans, and a full order book for 2024.
December 19, 2023 | 1:47 pm
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ECD Automotive Design's subsidiary, Humble Imports, reported strong Q3 2023 results with significant revenue growth, improved gross margins, and a profitable quarter. The company's focus on customization and the Jaguar E-Type restomods contributed to the positive performance.
The positive financial results reported by Humble Imports, including substantial revenue growth, increased vehicle deliveries, and improved profitability, are likely to be viewed favorably by investors. The strong order book for 2024 suggests sustained demand, which could further boost investor confidence in the short term.
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