Business
Massimo Group to Host Investor and Analyst Tours at its Manufacturing Facility in Garland, Texas Throughout June and July 2024
Management to Showcase its 376,000 sq. ft. Facility that Supports the Manufacture of its Motor and Marine Product Verticals GARLAND, Texas, June 18, 2024
About this update from Massimo Group
[{"type":"text","content":"Management to Showcase its 376,000 sq. ft. Facility that Supports the Manufacture of its Motor and Marine Product Verticals\nGARLAND, Texas, June 18, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) (\"Massimo\"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced will host an investor and analyst tours at its manufacturing facility and headquarters in Garland, Texas throughout June and July 2024.\n\n \n \n \n \n \n \n\n \nMassimo Founder, Chairman & CEO David Shan and CFO Yunhao Chen will discuss the Company's recently announced distribution partnerships and First Quarter 2024 Financial Results that saw Q1 2024 year-over-year Revenue increase 60% to $30.2 million, Gross Profit increase 86% to $10.5 million, Gross Margin increase 500 basis points to 34.7%, and Net Income increase 480% to $3.2 million.\nMr. Shan and Dr. Chen will also be joined by other senior management team members for a tour of the company's 376,000 sq. ft. manufacturing facility Including the recent expansion to support increased production across its Motor and Marine product verticals.\nThe expansion added 90,000 sq. ft. to the existing facility. The Garland location will continue to manufacture its Pontoon Boats in its facility, of which about 70% is dedicated to Massimo Motor Sports and 30% to Massimo Marine. The facility expansion is the first in a series of expansion projects to accommodate the Company's growth initiatives.\nIn addition to serving as the manufacturing hub for Massimo's Pontoon Boats, the facility is outfitted to efficiently palletize and shrink-wrap ATVs and UTVs, enabling the shipment of most orders to stores or distributors within three days. The majority of the Company's inventory is directly imported from its manufacturer network to its Garland facility where they undergo assembly, accessorization, and inspection before shipment to a distributor or directly to the customer, except for its pontoon boats, which are wholly manufactured at the Garland facility.\nThe facility is featured in the Massimo overview video linked here.\nSpace is limited, and registration is required. Investors and analysts should contact [email protected] or call Chris Tyson at (949) 491-8235 for more details and to register for the event.\nDate & Time\nAgenda\nJune & July, 2024 \n9:00 AM\nArrival & Coffee \n9:00 a.m. CDT t...