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Jun 30, 2024
ECD Q2 2024 Earnings Report
ECD Auto Design reported a record revenue with strong gross margins and reaffirmed full-year revenue guidance.
Key Takeaways
ECD Auto Design reported a record $8.9 million in revenue, a 129% increase compared to the second quarter of 2023. The company maintained strong gross margins of 31.8% and reaffirmed its full-year 2024 revenue guidance of $33.0 million.
Revenue increased by 129% to a record $8.9 million compared to Q2 2023.
Gross profit was $2.8 million, representing 31.8% of revenue, consistent with the previous year.
Operating income improved to $0.1 million, compared to an operating loss in Q2 2023.
Adjusted EBITDA improved to $0.4 million from $0.0 million in the same quarter last year.
Forward Guidance
The Company is reaffirming their guidance and expects 2024 revenue to be $33.0 million, representing an increase of approximately 108% when compared to revenue of $15.1 million in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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