EzFill to Begin Mobile Fuel Service for Fuse Specialty Appliance and GFC Crane Consultants in Miami
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The announcement by EzFill Holdings, Inc. regarding the signing of fuel delivery agreements with two new fleet customers and the expansion of services with L&W Supply signifies a strategic move to bolster their market presence in the mobile fuel industry. The projected addition of approximately 157,000 gallons and $672,000 in annual revenue indicates a positive trajectory in the company's growth. This growth is not merely a reflection of new contracts but also of the operational efficiency and customer acquisition strategy employed by EzFill.
From a market perspective, the mobile fuel industry is experiencing increased demand due to the convenience and efficiency it offers to fleet operators. With the expansion of services to additional locations and the onboarding of diverse customers, EzFill is positioning itself to capitalize on this market trend. The integration of luxury appliance and crane inspection companies into their customer base diversifies their portfolio, potentially mitigating risks associated with market fluctuations in specific sectors.
The financial implications of the new agreements for EzFill are noteworthy. An increase of $672,000 in annual revenue represents a significant boost to the top line, which can positively impact the company's stock performance if profitability margins follow suit. Investors should consider the cost structures associated with the expansion, such as additional delivery drivers and operational support and how these might affect the bottom line. The incremental revenue from these contracts should be evaluated against the capital and operational expenses to gauge the true financial impact.
Furthermore, the recurring nature of fuel supply contracts suggests a stable revenue stream, which is advantageous for the company's financial forecasting and planning. It is essential to monitor EzFill's subsequent quarterly financial statements to assess the actualization of these projected revenues and to analyze the impact on earnings per share.
EzFill's expansion within the mobile fuel industry reflects broader trends in energy consumption and distribution. The mobile fueling service model is gaining traction as it eliminates the need for fleet vehicles to visit traditional fueling stations, thereby saving time and potentially reducing operational costs for customers. The entry into markets such as luxury appliances and crane inspections indicates a strategic targeting of niche industries where the value proposition of mobile fuel delivery might be particularly strong.
It is also important to consider the volatility of fuel prices and how it might affect EzFill's business model. While the company may benefit from fixed contracts that lock in prices, fluctuations in wholesale fuel costs could impact profitability. Additionally, as the energy sector moves towards sustainability, it will be interesting to observe how EzFill adapts to potential shifts in demand towards alternative fuels or electric vehicle charging solutions.
Expands with Current Customer L&W Supply to Provide Fueling in Orlando
MIAMI, FL, March 11, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (“EzFill” or the “Company”) (NASDAQ: EZFL), a pioneer and emerging leader in the mobile fuel industry, announced that it has signed fuel delivery agreement with two new fleet customers and has expanded its service of L&W Supply.
The new fleet accounts Fuse Specialty Appliance and GFC Crane Consultants are an luxury appliance company and crane inspection company in Miami. The new customers have joined the EzFleet platform. The expansion with L&W Supply includes service to L&W’s location in Rockledge.
Yehuda Levy, EzFill’s Interim Chief Executive Officer, commented, “The new fleets and expansion with L&W Supply are expected to add approximately 157,000 gallons per year and approximately
About EzFill
EzFill is a leader in the fast-growing mobile fuel industry, with the largest market share in its home state of Florida. Its mission is to disrupt the gas station fueling model by providing consumers and businesses with the convenience, safety, and touch-free benefits of on-demand fueling services brought directly to their locations. For commercial and specialty customers, at-site delivery during downtimes enables operators to begin their daily operations with fully fueled vehicles. For more information, visit www.ezfl.com.
With the number of gas stations in the U.S. continuing to decline, corporate giants such as Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry, in companies such as Booster and Yoshi. As the only company to provide fuel delivery in three verticals – consumer, commercial, and specialty including marine and construction equipment, we believe EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options.
Forward Looking Statements
This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.
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Investor and Media Contact
Telx, Inc.
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