Envela Q3 Earnings Top Estimates

by Shivani Kumaresan, Benzinga Staff Writer

November 4, 2021 6:45 AM | 29 seconds read | Make a Comment

Envela Corp ELA reported a third-quarter FY21 sales decline of 2.8% year-on-year, to $37.7 million, beating the analyst consensus of $37.66 million.
Revenue improved 12% on a quarter-over-quarter basis.
The company’s DGSE’s revenue declined 9.3% Y/Y and constituted 68% of total revenue, ECHG subsidiary rose 14% and comprised 32% of total revenue.
The gross profit rose 12.5% Y/Y to $8.1 million.
EPS of $0.12 beat the analyst consensus of $0.08.
Price Action: ELA shares closed lower by 1.6% at $4.25 on Wednesday.