LMP Automotive (LMPX) 13 Aug 212021 Q2 Earnings call transcript

Greetings, ladies and gentlemen. Welcome to the thank you for standing by. This is the conference operator. Welcome to the LMP Automotive Holdings, Incorporated Second Quarter 2021 Financial Results Conference Call. All participants are in listen-only mode and the conference is being recorded. management, be by ask opportunity presentation questions. a there an will to After

be I’d not forward-looking everyone uncertainties. statements. Executive with considered LMP Any Chief plans the by to Officer. and to also may we and/or that beliefs, All like Before over facts constitute begin, goals, Tawfik, future statements I to and Mr. remind Holdings about call to Reform of statements ahead. like forward-looking financial are of risks management the historical the Mr. statements forward-looking expectations, statements. pertaining Litigation results contain now course, within turn Tawfik, expressed that statements And, the meaning or Securities Chairman of along go Automotive prospects Private operating Sam Act should statements XXXX. other forward-looking involve would call this please future

And today. I'm myself for Richard with you, report afternoon you Operating Officer; Officer. our joining operator. Robert with quarter. record another along to thank participants, along Bellaflores, call everybody. Chief our will our call Chief Financial good And pleased Aldahan, Thank be Today's

in cash acquisitions and cash, generating million XX, share. ended $XX an is $XX.X as deposits second to with expecting million Second respectively, $XX.X basis translates We million was million $XX.X the and share. a be approximately a to Escrow annualized for revenue adjusted half the August On $X.XX million of quarter $X.XX and $XXX and adjusted quarter including in of or of flows The EBITDA which this per we're revenue million. EBITDA shareholder second in adjusted cash significant company $XX.X totaled, equity. year, approximately million $XXX

location franchise goal announced we this all of by to and our total of begin is dealership November closed announced, basis and count to million have be respectively. regional will year. and our strategically would increase acquisitions beginning and previously geographic $X.X rate closing previously XX and adjusted expected and XX of EBITDA the EBITDA respectively. share Upon expect adjusted We approximately operation acquisitions, all run our density With key and substantially revenue them markets footprint. a retail in on $XX These be rolling of September fleet per billion, $X.X, consolidated LMP’s annualized acquisitions add contracted some to closing

of our is and Our of more the goal we're within by to ever prospective partnerships, attractive network acquisitions And to combined of we've locations way with adjusted and network, XXX or acquisitions our XX $XXX the million company billion to project total seen. in pipeline dealership billion and we contracted in track these a we than to of our $XX.X EBITDA. to mergers, achieve adjusted annualized $XX.XX acquisitions million share an propel will to $X.X on EBITDA revenue; a additions current to $XXX believe By operations on end. our in basis $X.X

Richard Now to Officer. over I'm call Operating pass to Aldahan, going Chief the

those Thank joining call. Sam. to thanks all And you, who the

performance this to the and would for strong quarter our give details, them I like dealers Before year-to-date. their I thanks

want every their their corporate of I to Additionally, contribution for our organization. to member team thank dedication our and

see So supply year, vehicles. outpacing continue far new demand we for this to

in continue and to supply report to rank that the suburban the the happy we pent-up housing percentile shortages process. in the further to believe addition had purchases due industry is who migration XXXX. to percentage as this compared the this due a XXXX, due the within into peers. XX our upper expect transportation am We preferences continue large consumers for We to from of I to current manufacturing public to vehicle demand in component

EBITDA million second to associated adjusted margin gross compared leverages and We our amongst real $XX capital quarter $XX these notable with and the metrics balance that this our percentage to we profit previous in growth estate net dealerships gross XX.X%; ranks year’s returns We net our corporate X.X% peers. as acquired adjusted approximately the debt, had percentage $XX revenue million. and our of as So, compared as of [indiscernible]; our excluding comparable to adjusted highest income was and believe EBITDA. purchased. quarter; of include all the million amongst [indiscernible] about for the we LMPX of of ended Approximately following, margins a the invested revenue of

we the the the unleashing to real call guess Thanks now call. witnessing are model acquisition questions our for Operator? will yet of the come. our and potential partnership the answers. again [indiscernible]. that results feel that I best open We we is we And joining and dealerships the of partners for

now your Thank Our question-and-answer conducting you. Investor. Instructions] and a we Mitchell gentlemen, session. will proceed with question. line Ladies comes from question Berger, first the be Please [Operator of Private

is guys fairly Hey right be at the noticed there things excellent levels. us guys some at going had. the just are valued valuing stock quarter the prices not guys to really to get be wondering to you you I'm point? obviously that company doing Are you

Hi this Mitchell, is Sam Tawfik.

stock be We stock income earnings. executing growing in the on plan business and and as from general, price, I've far the historically in stock our seen focused continue what market typically follows the as to

as on a that answers your company. focused the question. of plan we're I execution So, business hope

what I doing guess. you’re on Keep doing,

you. Thank

there are have Instructions] you appears Thank closing no any [Operator further you. this questions at Do comments? It time.

on next everybody And call. See the joining you, Thank you thank today's for call. operator. you

concludes today's Thank and this you. gentlemen, teleconference. Ladies

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