Envela Stock Price, News & Analysis

Envela Corporation (NYSE American: ELA) announced it will present at the LD Micro Main Event XV on October 26, 2022, in Los Angeles. Recognized as a leader in the re-commerce sector, Envela focuses on extending the life of durable goods and enhancing retail, recycling, and reverse-logistics opportunities. Its operations span two main segments: DGSE and ECHG, targeting both B2C and B2B markets. Envela aims to contribute to a sustainable circular economy, benefiting consumers and manufacturers alike.

Envela Corporation (NYSE American: ELA) was recognized as the 23rd fastest-growing company in North Texas by the Dallas Business Journal's Middle Market 50 list. This achievement highlights the company's robust revenue growth over the last three years, specifically among firms with annual revenues between $10 million and $1 billion. Allison DeStefano, Executive Vice President, emphasized the honor as a reflection of Envela's positive workplace culture and commitment to sustainable re-commerce.

Envela Corporation (NYSE American: ELA), a leader in the re-commerce sector, will participate in Lake Street Capital Markets' 6th Annual Best Ideas Growth (BIG6) Conference on September 14, 2022. CEO John Loftus will represent the company at this exclusive event held at The Yale Club in New York City. Investors can schedule meetings with management during the conference. Envela operates two main segments: DGSE for luxury goods and ECHG for IT equipment. The company emphasizes sustainability through a circular economy, benefiting both consumers and manufacturers.

Envela Corporation (NYSE American: ELA) reported a 78.7% increase in net income for Q2 2022, reaching $3.85 million, compared to $2.15 million in Q2 2021. Total revenue was $42.6 million, up from $33.7 million year-over-year. The DGSE subsidiary generated $30.3 million in revenue, with resale sales accounting for $28.2 million. ECHG subsidiary reported $12.3 million in revenue. Consolidated gross profit rose to $11.5 million from $7.1 million. Earnings per share increased to $0.14 from $0.08.

Envela Corporation (NYSE American: ELA) is set to report its Q2 2022 financial results on August 3, 2022, after market close. As a leader in the North American re-commerce sector, Envela focuses on extending the life of durable goods through its two main segments: DGSE, which handles luxury hard assets and precious metals, and ECHG, which commercializes consumer electronics and IT equipment. The company emphasizes its role in promoting a circular economy, benefiting both consumers and manufacturers.

Envela Corporation (NYSE American: ELA) announced its co-sponsorship of veteran Keith McGee's No. 43 truck for the Memorial Day weekend race at Charlotte Motor Speedway. After a primary sponsor withdrew unexpectedly, Envela stepped in to support McGee, the first disabled veteran to race in NASCAR. McGee expressed gratitude for Envela's contribution, highlighting its importance in representing veterans during the race. Envela continues to bolster its reputation as a leader in the re-commerce sector, operating through two business segments: DGSE and ECHG.

Envela Corporation (NYSE American: ELA) reported a strong first quarter of 2022, achieving a 32% year-over-year increase in net income to $2.65 million or $0.10 per share. Total revenue rose to $47.4 million, up from $25.5 million in Q1 2021. Revenue from the DGSE subsidiary accounted for 75.5% of total revenue, with significant growth in resale sales and gross profit. The ECHG subsidiary also showed improvement, contributing $11.6 million in revenue. The company remains optimistic, focusing on sustainable long-term value through continued investments.

DGSE, a subsidiary of Envela (ELA), has announced plans to accelerate its expansion following a record-setting first quarter. The company experienced significant growth in sales and profits, prompting it to increase the pace of new store openings. President Allison DeStefano highlighted the positive consumer response to recent store launches and emphasized the company's disciplined approach to expansion. While the growth plans are contingent on securing suitable locations and personnel, DGSE aims to enhance its presence in luxury goods and precious metals retail.

Envela Corporation (NYSE American: ELA) announced it will report its Q1 2022 financial results on May 11, 2022, after market close. As the North American leader in the re-commerce business, Envela facilitates the resale of specialty goods through its two main segments: DGSE and ECHG. DGSE operates B2C retail channels for luxury assets, while ECHG manages B2B re-commercialization and recycling of consumer electronics. The company emphasizes its role in the circular economy, benefiting both consumers and manufacturers by extending the life cycle of goods.