LMPX - Earnings call transcript Q3 2021 | LMP Automotive Holdings, Inc.

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Operator

Greetings and welcome to our LMP Automotive Holdings, Inc.

Third Quarter 2021 Financial Results Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a remainder this conference is being recorded. of forward-looking Securities the Section Act the Exchange contain XXA of XXE may amended. Securities the as of of Act call statements meaning within Section of This each XXXX, XXXX and Such statements to relating or and our to historical trends plans not and beliefs, future that anticipated any facts. are projections, not statements expectations, strategies, but include, are limited events similar matters likely, estimate, negatives outlook, would, or These potential, statements include by expect, may forecast, terms anticipate, aim, will, other followed seek, intend, be projection, and the believe, plan, should, project, similar can, thereof preceded words may, meanings. of words by, could, and the

plan; and no and any our our other and statements operating in our develop are assurance services and to those risks and and our relationships; stock results, effectively competitive as of growth our ability subject to and Forward-looking is on evolving materialize. in include: to cause expectations current value. executive ability forward-looking to the financing to Factors our our intellectual the based that and property filings. others; market our of uncertainties suppliers, of avoid intellectual maintain and manage automobile results from well business highly customers ability There negatively rights platform; sources operations adequate risks could for property achieve materially that violation the dependence could to acceptance ability to SEC upon our maintain differ to are protection business, ability will financial reputation with and our as of over statements time; operations; our that and our maintain actual and ability and compete currently to condition external management's our succeed our industry; anticipated to our a described of grow maintain impact of existing the relationships

reflect expectations or any place in herein changes any expectations circumstances such this pleasure now host except undue by in disclaim forward-looking statements, or events, as publicly contained law. reliance change to any conditions Executive We on only to expressly obligation any is cautioned on which any It Sam updates required of date. revisions which forward-looking based, reflect release not You is to to are introduce statements as to Officer. my our Sir. or Chief statement Tawfik, go Please your any ahead, undertaking or

Sam Tawfik

Aldahan, call. good our afternoon our exceed and our Robert me Thank Officer; pleased for everybody. quarter third our Chief to earning Officer. quarter Financial on third and you, are Bellaflores, Chief call which operator, With our joining results Operating Richard Thanks outlook. the record announce internal I'm

profits Our $XXX.X gross revenue million Gross quarter-over-quarter. XX.X%. generating in or $XX.X X.X% increased margins was profit million

$X.XX We quarter for $XX.X in a quarter-over-quarter. increase the Our or per million X.X% adjusted $XX.X quarter the adjusted equity. ended was million cash with million shareholder and $XX.X EBITDA share, in

in accretive adjusted are million open quarter for am the Operator? Our answers. quarter, quarter in rates this to EBITDA. we the closed going and we I income expect acquisition third run up this and revenue, million to immediately be $XXX excluding annualized questions to which now $XX.X call

Operator

Thank you.

ahead. Instructions] question-and-answer be comes first Mitchell [Operator a We Your Please [indiscernible]. will conducting now from question go session.

Unidentified Analyst

Sam. Hello, Can me? you hear

Sam Tawfik

I hear you. Hi Mitch.

Unidentified Analyst

certain cars going not can years. cars then cars of maintenance I share country, because that in to over sales online But purchase and used terms it at locally understand their sales are of shipped cars and they're is from to, I clients are car the as areas, how that well for blind dealers the a future versus relative purchasing client greatest the different the with I revenue, it's new used location losing but be going you're into cetera. acquire dealers, they're the to new different doing? sales as understanding question you cars, to a et maintenance. acquire business Hey, understand new new new new when of used dealerships you a more to or as people have you're car state, in

losing So that was the revenue of working terms of how in if but you gaining people maintenance, people understand?

Sam Tawfik

Thank Mitch. you,

I you're think asking. what I know

maintenance segments that. We that's the as seen hitting the an category seen shift haven't far in I a far We and growing effect we records as well. groups of see haven't all as maintenance so believe

Unidentified Analyst

I see.

why of many out may as not you and state new just out? sales acquisitions, you you kind to washes ship the of where So them out the with but losing be gaining clients have with

Sam Tawfik

the That Yes, wouldn't be case.

Unidentified Analyst

see, I okay. Thank you.

Sam Tawfik

Mitch. you, Thank

Operator

from Next Truist. comes Stephanie Moore with question

Stephanie Moore

afternoon. good Hi,

Sam Tawfik

afternoon. Good Stephanie. Hi

Stephanie Moore

was the Great. could that some about others little see your conversations about OEMs with maybe of think a baking what you supply and having or you're targets going thoughts, forward? assumptions bit M&A and your the – you I you'll when to you're hoping ever how kind the demand or talk those in maybe start dynamics if when normalize had in normalize, expectations they

Sam Tawfik

Thank you, Stephanie.

given steady OEMs It's in the supply, information, hard nonetheless public haven't sporadic we on news. as been any the predict. to far indications it it's As read

As supply is the we being for future. not far the as see demand for future for the that for the foreseeable filling current expectations suppressed foreseeable

semi-annual Stephanie? a quarterly supply results financial the entail for would That see slash the for future. outstripping basis, we sense, makes basis not but the future, maybe but steady, demand on better choppy foreseeable monthly foreseeable on just same the the which if a So

Stephanie Moore

that it's That Absolutely. as – large still just finding select groups, remains that being pretty after feel opportunity. the the competitive been more or you environment, really deals guess, an it you large? and year Thank increase makes find a I appreciate go do Do or obviously years, versus certainly I in are to as – and going it's before? it's select sense touching a opportunities pie was you. attractive then like feel bit opportunity this There's on which M&A I little a you the forward, it. it? going

Sam Tawfik

question. large. as being it That's pie very see the you. a We Thank great

We to smaller smaller easier do larger continue in doing, The ones inquiries but the better we is the what to growing. although we're prices, for capture deals beauty than our multiples. are pipeline get of lower i.e., the ones,

just it's work, far. but that's we've so accretive. more doing And what very been So

small busy size tucking nonetheless it see easier, in it's a we from aggregating cost acquisitions view, has as that the a basis basically and them not there point deals and gives slowed medium of So existing, and but have we very out both great down. us the larger multiple

Stephanie Moore

so much. I you Thank Great. it. appreciate

Sam Tawfik

Thank you, Stephanie.

Operator

Chris [Operator ahead. Newman. go Instructions] comes next Your Please from question

Unidentified Analyst

company be moving the have regarding that price so could attract Sam. afternoon, good question up? a we investors I Hey, just new stock would how the

Sam Tawfik

That's sector. pick sector. a our a and size expecting see grow coverage, business to Unfortunately to as sector. analysts they'll answer difficult the We in one There we're lucrative in the not given it's other up Chris. are this very too we analysts scale, execute many plan

So hopefully in continue just see, and gravitate as you to things execute will direction. the right

Unidentified Analyst

I come analysts guys plan analysts don't a contact So but like the in they these to about, how know or place have come would you about? how

Sam Tawfik

sector. do where many in contact Fortune very all in the peers large We're our analysts a Yes, not the and are are XXX. sector there not we

these then the reached all up certain So when coverage. to pick close likely believe it's if we thresholds, the we're deals, I we approaching, which

Unidentified Analyst

you me. Thank That's much Awesome. so from for time. all your

Sam Tawfik

Chris. you, Thank

Operator

Cohen. question, Josh Next

Unidentified Analyst

at profitability are communicated a of expectation, really congratulations. quarter, a whether on excited any and things see can and this how On the refinancing with buyback up if wanted to get be sense dividend kind are to Hey, table. timing And shaping and what still great the of point?

Sam Tawfik

Josh Hi, thank you. and

where phase is Let million, a me give current refinancing excluding you loan, our approximately on practically. said that. structure color some have recapitalization we're term or to as only the currently looking $XX We're as we in but not out flooring the our way deals stand future in we by under which accommodate for flexible That million deals. of pipeline contract, only cash $XX a which

back investors issued liquidity. just we mentioned, also and we our structure the existing that but buy can do, is stock groups future as values and And institutional and pipeline attracts creates that increasing, the As where we're deals, accommodate only prohibitive deals, sensitive it's less company very shareholder dividends to where exciting. because – the can not aiming peer pipeline

concerned, all, quarter. some this and be the As tough, if of quarter. may the acquisitions is maybe we're close delayed not into far second aiming or to timing January some It as February of

in acquisitions of holidays. frequency workload that and vendors sector, the the manufacturers certain the with our Given burdening upcoming along

aiming quarter, but to doesn't in looks progressing some we're well are our happen confidence and things that if in as second So with would close though it strategy. the this be quarter,

Unidentified Analyst

Really Congrats again. numbers. great Thank you.

Operator

Sam further over There for I are floor like the no closing to turn would to remarks. questions.

Sam Tawfik

great everybody Thank for you operator, afternoon. joining a and you Have thank us.

Operator

concludes This teleconference. today's

participation. your your lines this at You thank may and time for you disconnect

LMP Automotive (LMPX) 16 Nov 212021 Q3 Earnings call transcript