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ER NEWS: ECD Auto Design Reports First Quarter 2024 Financial Results; Revenues Increase 207% to Record $8.3 Million

ECD Auto Design (NASDAQ: ECDA), the largest Land Rover and Jaguar restoration company, announced its financial results for Q1 2024, highlighting a 207% revenue increase to $8.3 million. Gross profit surged to $2.5 million with a margin expansion to 30.1%. However, net loss widened to $1.6 million compared to $1.1 million the previous year. Adjusted EBITDA improved to $0.4 million. Operating expenses rose due to growth and public company costs. The company acquired Brand New Muscle Car and a licensing agreement with Black Dog Trading. ECD reaffirmed its full-year 2024 revenue guidance at $33.0 million.
ECD Automotive Design Q1 EPS $(0.05), Same YoY, Sales $8.31M Up From $2.71M YoY
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