Envela Stock Price, News & Analysis

Envela Corporation (NYSE American: ELA) announced the addition of Thomas Mathias to the leadership team of its subsidiary, DGSE. With over 25 years in retail real estate, Mathias previously served as Managing Director at Cottonwood Financial, overseeing 350 locations. He expressed excitement about contributing to DGSE's growth within the sustainability market for preowned luxury goods. DGSE specializes in the re-commerce of luxury brands and diamonds, offering an extensive range of jewelry and precious metals to enhance customer experience.

Envela Corporation (NYSE American: ELA) reported a 24% increase in 2021 revenue to a record $140.9 million and achieved a net income exceeding $10 million. The fourth quarter saw a 53% revenue growth year-over-year, totaling $44.1 million. Notable profit growth included a 55% rise in net income, driven by strong performance across its DGSE and ECHG subsidiaries. With robust financial results and strategic expansions, including acquisitions and new store openings, Envela aims to sustain its momentum in the re-commerce sector.

Envela Corporation (NYSE American: ELA) will report its fourth quarter and fiscal year 2021 financial results on March 16, 2022, after market close. As a leader in the re-commerce sector, Envela focuses on extending the useful life of specialty goods and promoting a circular economy. Its operations span retail and online platforms, featuring luxury hard assets and consumer electronics. The company has experienced multiple years of growth, reflecting its strong market position. Investors are advised to consider the inherent risks highlighted in their periodic SEC filings.

Envela Corporation (NYSE American: ELA) announced the appointment of Richard D. Schepp, former Chief Administrative Officer of Kohl's, to its Board of Directors as an independent member. This addition aims to leverage Schepp's extensive experience in growing retail and e-commerce businesses. With over 20 years in various boardroom roles, he brings crucial skills in M&A, strategic planning, and customer experience enhancement. Schepp's past achievements include navigating digital transformation and optimizing store operations at Kohl's, projected to positively impact Envela's growth strategy.

Envela Corporation (NYSE American: ELA) announced third-quarter financial results for 2021, reporting revenue of $37.7 million, up 12% quarter-over-quarter. Total revenue decreased compared to $38.8 million year-over-year. The DGSE subsidiary generated $25.5 million, while the ECHG subsidiary reported $12.2 million in revenue. Gross profit rose to $8.1 million from $7.2 million, with net income reaching $3.1 million, or $0.12 per share, compared to $3.0 million, or $0.11 per share, a year ago. The company continues to explore growth initiatives, including acquiring Avail Recovery Solutions.

Envela Corporation (NYSE American: ELA) announced its subsidiary ECHG, LLC has acquired the assets of Avail Recovery Solutions, LLC, a leader in IT asset recovery. This acquisition enhances Envela's presence in the recommerce sector focused on sustainability. Avail specializes in electronics recycling and IT asset disposition, servicing Fortune 2000 companies. The acquisition is expected to boost Envela's offerings in sustainability transformations and lifecycle management.

Envela Corporation (NYSE American: ELA) will report its third-quarter financial results on November 3, 2021, after market close. The company specializes in recommerce of luxury hard assets and consumer electronics, along with end-of-life recycling solutions. Its operations are conducted through two main segments: DGSE, LLC for luxury goods, and ECHG for electronics and IT equipment. Envela is committed to sustainable practices through its recycling services, catering to various industries.

Envela Corporation (NYSE American: ELA) will present at the 10th Annual Gateway Conference on September 9, 2021, at 11:00 a.m. Pacific time. The virtual event takes place on September 8-9, 2021, allowing one-on-one meetings with management. The presentation will be accessible via webcast and available for replay. Envela specializes in recommerce within luxury hard assets and consumer electronics, offering recycling solutions through its subsidiaries. Interested parties can request invitations or meeting schedules via email.

Envela Corporation (NYSE American: ELA) has announced an all-cash acquisition of Avail Recovery Solutions, targeted to close in early Q4 2021. Avail specializes in IT asset disposition and electronics recycling, aligning with Envela's strategy to enhance its recommerce offerings and sustainability efforts. This acquisition aims to create synergies and expand market reach in the environmentally-friendly sector. Both companies express optimism about the partnership's potential to deliver added value to shareholders and improve service offerings for clients.