LMP Automotive Holdings, Inc., through its subsidiaries, buys, sells, rents and subscribes for, and obtains financing for automobiles online and in person in the United States. It primarily buys pre-owned automobiles primarily through auctions or directly from other automobile dealers, as well as new automobiles from manufacturers and manufacturer distributors at fleet rates. The company was incorporated in 2017 and is headquartered in Fort Lauderdale, Florida.
IPO Year: 2019
Exchange: NASDAQ
Website: lmpmotors.com
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Fort Lauderdale, May 04, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, declared a special cash dividend of $1.24 per share. The dividend is anticipated to be paid on May 8, 2023, to all stockholders of record as of April 29, 2023. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.Our proprietary e-commerce technology and strategy are designed to disrupt the indu
FORT LAUDERDALE, March 31, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has closed on the sale of its KIA and Subaru dealerships in Mount Hope, WV. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growing selection of owned i
FORT LAUDERDALE, FL , March 20, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, announced it has entered into definitive dealership and real estate sale agreements (the "Agreements") with respect to the sale of LMP's Chevrolet, Buick GMC dealerships and their underlying real estate in Beckley, West Virginia. The Company anticipates that the expected closing of the transactions contemplated by the Agreements will occur in June 2023, subject to the satisfaction of the terms and numerous conditions precedent to closing of such Agreement, which include, but are not limited to, manufac
FORT LAUDERDALE, Fla., Feb. 09, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, declared a special cash dividend of $4.68 per share. The dividend is anticipated to be paid on February 28, 2023 to all stockholders of record as of February 13, 2023. In addition, the Company's subsidiaries entered into definitive agreements to sell its Subaru and Kia dealerships in Beckley, West Virginia. "The Board and the management team all believe that, given the nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the be
FORT LAUDERDALE, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has closed on the sale of its KIA dealerships in Port Charlotte, FL and Cape Coral, FL to Morgan Auto Group and provided a corporate update. Additionally, LMP has signed definitive agreements this month to sell its Subaru and Kia dealerships in Beckley, WV. with an expected closing date in March of 2023. The company is marketing its two remaining Chevrolet and GMC - Buick dealerships in Beckley, WV., along with its associated real estate and will pursue entering into sale agreements
FORT LAUDERDALE, Fla., Nov. 09, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has closed on the sale of its Chevrolet Buick GMC CadillacDealership in Greeneville, Tennessee. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams,
FORT LAUDERDALE, Fla., Oct. 19, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has entered into definitive dealership and real estate asset sale agreements (the "Agreements") to sell LMP's Kia dealerships in Port Charlotte, FL and Cape Coral, FL to Morgan Auto Group. Morgan Auto Group owns and operates fifty-eight (58) franchise dealerships throughout the state of Florida. They acquired their first Kia dealership in 2015 and own and operate five (5) Kia dealerships in the state of Florida today. There are no financing contingencies associated with th
FORT LAUDERDALE, Fla., Oct. 19, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has closed on the sale of its Chrysler Jeep Dodge Ram Dealership in White Plains, New York. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance. Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, grow
FORT LAUDERDALE, Fla., Oct. 19, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it has closed on the sale of its Chrysler Jeep Dodge Ram Dealership in White Plains, New York. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance. Our proprietary e-commerce technology and strategy are designed to disrupt the industry by leveraging our experienced teams, growin
FORT LAUDERDALE, Fla., Oct. 05, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced the buyer terminated the dealership and real estate asset sale agreements (the "Agreements") to buy LMP's Kia dealerships in Port Charlotte, FL, Cape Coral, FL and Beckley, WV, its Subaru dealership in Beckley, WW, its Chevrolet dealership in Beckley, WV and its General Motors dealership in Beckley, WV (the "Terminated Dealerships"). The Company will re-market the Terminated Dealerships and will pursue entering into new sale agreements in connection with the Terminated Dealerships with
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Fort Lauderdale, Florida , July 07, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today Announced the Appointment of Robert Bellaflores as Chief Financial Officer. Robert Bellaflores has served as Senior Corporate Controller of LMP since April 16, 2021. Mr. Bellaflores has over 30 years of accounting experience in both public and private industry beginning his career at Deloitte & Touche in New York prior to moving to Florida in 1991. Prior to joining the Company, he was with the Projects Division of Steven Douglas & Associates from 2006 to 2021 as a senior level e
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Fort Lauderdale, May 04, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, declared a special cash dividend of $1.24 per share. The dividend is anticipated to be paid on May 8, 2023, to all stockholders of record as of April 29, 2023. ABOUT LMP AUTOMOTIVE HOLDINGS, INC. LMP Automotive Holdings, Inc. offers a wide array of products and services fulfilling the entire vehicle ownership lifecycle, including new and used vehicles, finance and insurance products and automotive repair and maintenance.Our proprietary e-commerce technology and strategy are designed to disrupt the indu
FORT LAUDERDALE, Fla., Feb. 09, 2023 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, declared a special cash dividend of $4.68 per share. The dividend is anticipated to be paid on February 28, 2023 to all stockholders of record as of February 13, 2023. In addition, the Company's subsidiaries entered into definitive agreements to sell its Subaru and Kia dealerships in Beckley, West Virginia. "The Board and the management team all believe that, given the nature of our portfolio, pursuing multiple transactions with different potential buyers for assets or groups of assets presents the be
FORT LAUDERDALE, FL, May 19, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced that it plans to restate previously issued financial statements as of and for each of the first three quarterly periods in 2021 to correct certain accounting items. On May 16, 2022, management of LMP Automotive Holdings, Inc. and the audit committee of the Company's board of directors concluded that the Company's previously issued condensed consolidated financial statements as of and for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021 are required t
FORT LAUDERDALE, FL, May 17, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today provided a corporate update and announced a delay of its first quarter 2022 financial results for the period ended March 31, 2022. Delay of its First Quarter 2022 Financial Results As LMP continues its evaluation of (i) the proper identification and elimination of intercompany transactions, (ii) estimates of chargeback reserves for finance and insurance products and (iii) various financial presentation matters related to the Company's business, in each case, in the context of
FORT LAUDERDALE, Fla., April 15, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today provided a corporate update and announces it will delay its 2021 financial results. Q1 2022 Financial Update Year to date, we are witnessing robust gross profits and revenue growth month-over-month. Revenue in the month of March was at its highest levels as compared to monthly revenue in the trailing 9 months. Balance Sheet Update LMP utilized approximately $16 million in cash from its balance sheet in the fourth quarter of 2021 for the following: We completed the acq
FORT LAUDERDALE, Fla., March 31, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX), an e-commerce and facilities-based automotive retailer in the United States, today announced that it will delay its 2021 financial results and conference call, previously scheduled for March 31, 2022. As LMP continues to evaluate and account for certain transactions primarily related to its acquisitions that were consummated in 2021. There is a significant change in our results of operations in calendar year 2021 when compared to the results from the corresponding period in the prior year, primarily as a result of acquisitions that closed during the course of calendar year 2021. During
FORT LAUDERDALE, FL , Feb. 03, 2022 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it will report its fourth quarter and full year 2021 audited financial results for the period ended December 31, 2021 after the close of market on Thursday, March 31, 2022. On that day, management will hold a conference call at 4:30 p.m. ET to review and discuss the Company's business and results. What:LMP Automotive Holdings, Inc. Fourth Quarter 2021 Financial Results Conference CallWhen:Thursday, March 31, 2022Time:4:30 p.m. ET Live Call:1-877-407-3982; International: 1-201-
FORT LAUDERDALE, FL , Dec. 28, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX), an e-commerce and facilities-based automotive retailer in the United States, today provided its Year End Shareholder Update. Sam Tawfik, LMP's Chief Executive Officer, stated, "As I look back on the year, it is remarkable how much we have accomplished given the current environment, not only in terms of financial performance but also in our steadfast focus, dedication and discipline. 2021 is shaping up to be a strong year for LMP, with the firm generating record revenue and income, as well as numerous other records in each of our lines of business, all while maintaining credit discipline an
Third Quarter 2021 Highlights All financial comparisons stated below are compared to the third quarter of 2020, unless otherwise noted. Revenue increased $128.0M to $141.4MOverall Gross Profit increased by $26.7M to $27.6M Gross Profit Margin increased by 12.9% to 19.5%Adjusted Net Income1 was $8.6M or $0.85 per shareAdjusted EBITDA1 increased by $12.1M to $11.9M or $1.18 per shareAdjusted Shareholder Equity1 increased by $19.3M to $50.9M FORT LAUDERDALE, Fla., Nov. 15, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today reported its third quarter 2021 financial
FORT LAUDERDALE, FL , Oct. 22, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today announced it will report its third quarter 2021 financial results for the period ended September 30, 2021 after the close of market on Monday, November 15, 2021. On that day, management will hold a conference call at 4:30 p.m. ET to review and discuss the Company's business and results. What: LMP Automotive Holdings, Inc. Third Quarter 2021 Financial Results Conference CallWhen: Monday, November 15, 2021Time: 4:30 p.m. ET Live Call: 1-877-407-3982; International: 1-201-493-6780 A teleph