ECD Automotive Design Stock Price, News & Analysis

ECD Auto Design, a leader in custom classic luxury vehicles, has partnered with Mercy Full Projects, a Tampa-based non-profit dedicated to animal rescue and adoption. This collaboration aims to support animal welfare and raise awareness for pet adoption. Key highlights include:

• ECD is providing funding for Mercy Full Projects' rescue operations and animal care
• A joint photo and video shoot featuring ECD's custom Land Rover Defenders and adoptable dogs was conducted
• The resulting visuals will be used in an upcoming social media campaign to promote pet adoption
• The partnership aligns with ECD's commitment to community involvement and family values
• Mercy Full Projects reports that ECD's support has significantly impacted their ability to rescue more animals

The campaign, launching this month, aims to inspire pet adoption and support for local animal rescue efforts.

ECD Auto Design, a leader in custom luxury vehicle restorations, is launching its Cars & Coffee culture with an inaugural event on Sunday, September 22, 2024, from 9:00 AM to 12:00 PM at its Kissimmee, FL headquarters. The free event invites automotive enthusiasts, clients, content creators, and media partners to experience ECD's craftsmanship firsthand.

Attendees will have the opportunity to see custom-built vehicles, tour the 100,000 square-foot facility, and engage with the team behind these bespoke builds. ECD's collaboration partner, Turtleback Trailers, will showcase their Expedition T3 model as a complementary accessory for ECD SUVs. This event marks the beginning of a regular series aimed at bringing car culture enthusiasts together and showcasing ECD's unique offerings in vehicle restoration.

ECD Automotive Design (Nasdaq: ECDA) has announced significant changes in its leadership structure. Benjamin Piggott, previously the Chairman, has been appointed as the new Chief Financial Officer effective September 16, 2024. He succeeds Raymond Cole, who is stepping down for personal reasons but will remain in a consulting role through the first half of 2025.

Simultaneously, the company has restructured its Board of Directors. Scott Wallace, the CEO, has been appointed as the new Chairman of the Board. Both Benjamin Piggott and Thomas Humble have resigned from their positions on the Board.

Mr. Piggott brings extensive experience in business development and investment, having previously served as CEO of EF Hutton Acquisition I and holding positions at Laird Superfood and Fidelity Management & Research Company.

ECD Automotive Design (Nasdaq: ECDA) has regained compliance with Nasdaq's continued listing requirements. The company, known for restoring and modifying classic automobiles, faced delisting from the Nasdaq Global Market due to failing to meet the $50 million market value of listed securities (MVLS) requirement. To address this, ECD applied to transfer its listing to the Nasdaq Capital Market, which has a lower MVLS threshold of $35 million.

After receiving a delisting notice on August 13, 2024, ECD appealed and requested a hearing. However, on September 11, 2024, Nasdaq approved ECD's application to list on the Nasdaq Capital Market. As a result, ECD's securities began trading on the Nasdaq Capital Market on September 13, 2024, and the previous delisting notice was withdrawn.

ECD Automotive Design (Nasdaq: ECDA) has announced a collaboration with Roush for custom classic Mustang builds. This partnership will offer Roush engines as options for ECD's 1967-68 Ford Mustang models, starting with the ROUSH 347 SR as the base engine. Clients can also upgrade to other high-performance Roush engines, including the 347 IR, 427 SR, and 427 IR.

The collaboration aims to combine ECD's expertise in restoring and modernizing classic vehicles with Roush's engineering excellence and high-quality performance parts. The standard ROUSH 347 SR engine offers 410 hp and 400 ft-lbf of torque, with a displacement of 347 cubic inches and a max engine speed of 6250 rpm.

ECD Automotive Design has unveiled its latest custom luxury vehicle, the Beach Runner 3. This third iteration in the Beach Runner series combines the ruggedness of a classic Land Rover with innovative coastal-focused customization. Key features include:

- Cornish Cream gloss paint exterior
- Cohesive body color scheme including custom roll cage
- Recaro Expert S seats wrapped in Garrett Cadence Spice leather
- 2+2+4 seating layout with inward-facing jump seats
- French oak wood cargo area flooring
- Advanced in-car entertainment system
- GM LT1 engine with 10-speed automatic transmission

The Beach Runner 3 is now complete and available for sale, representing ECD's commitment to blending timeless design with modern performance and luxury.

ECD Automotive Design (Nasdaq:ECDA) has entered into a licensing agreement with Blackbridge Motors to produce branded classic Land Rover Defender SUVs at their Kissimmee, FL facility. This marks ECDA's first Defender agreement, allowing them to expand within the luxury Defender market and increase factory utilization.

The agreement provides ECD access to Blackbridge's IP, branding, and marketing support in exchange for a fee and royalty per vehicle sale. Blackbridge has averaged 15 Defenders annually over the past three years, at a price point similar to ECD's. This collaboration is expected to enhance ECDA's industry-leading margins and increase production line backlog in a capital-efficient manner.

CEO Scott Wallace emphasized that this strategic relationship allows ECDA to capture more of the $15 billion classic car ecosystem, increase productivity, and scale their business uniquely within the industry.

ECD Automotive Design (Nasdaq: ECDA) reported strong financial results for Q2 2024. Revenues surged 129% to a record $8.9 million, driven by increased volume, higher average selling prices, and increased used vehicle sales. Gross profit rose significantly to $2.2 million, maintaining a robust gross margin of 31.8%. Despite a net loss of $0.9 million, Adjusted EBITDA improved to $0.4 million.

The company expanded its product lineup, adding classic Toyota FJs through a licensing agreement with Black Dog Trading. ECD reaffirmed its full-year 2024 revenue guidance of $33.0 million, representing a 108% increase from 2023. CEO Scott Wallace emphasized the company's strong growth and ambitious plans in the classic luxury automotive market.

ECD Automotive Design (NASDAQ: ECDA) has received a delisting notice from Nasdaq due to failure to comply with the $50,000,000 market value of listed securities (MVLS) requirement. The company was initially notified on February 14, 2024, and given 180 days to regain compliance. However, as of August 13, 2024, ECDA had not met the requirement.

Unless ECDA appeals by August 20, 2024, trading of its common stock and warrants will be suspended on August 22, 2024. The company intends to request an appeal before the Nasdaq Hearings Panel, which will stay any suspension or delisting action pending the hearing.