LMP Automotive Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 16, 2021 at 04:37 pm EST
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LMP Automotive Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 0.647591 million compared to USD 5.64 million a year ago. Revenue was USD 141.43 million compared to USD 13.37 million a year ago. Net income was USD 4.77 million compared to net loss of USD 0.752087 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to basic loss per share from continuing operations of USD 0.08 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to diluted loss per share from continuing operations of USD 0.08 a year ago.
For the nine months, sales was USD 7.05 million compared to USD 15.48 million a year ago. Revenue was USD 314.48 million compared to USD 26.44 million a year ago. Net income was USD 1.11 million compared to net loss of USD 2.26 million a year ago. Basic loss per share from continuing operations was USD 0.74 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.74 compared to USD 0.23 a year ago.
LMP Automotive Holdings, Inc. is an e-commerce and facilities-based automotive retailer in the United States. The Company offers a range of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance. Its e-commerce technology and strategy are designed to disrupt the industry by leveraging its selection of owned inventories and physical logistics networks. The Company seeks to provide customers with both online and in person services. Its physical logistics network enables it to provide convenient free delivery points for customers and provide services throughout the entire ownership life cycle. The Company uses digital technologies to lower its customer acquisition costs and achieve operational efficiencies.