CarLotz Reports Q4 Results, Appoints New CEO
<p><a href='https://financialmodelingprep.com/financial-summary/LOTZ'>CarLotz, Inc. (NASDAQ:LOTZ) </a>reported its Q4 results, with EPS of ($0.12) coming in better than the consensus estimate of ($0.15). Revenue was $83.1 million, compared to the consensus estimate of $72.95 million.</p>
<p>According to the analysts at Deutsche Bank, the quarterly results reflected the ongoing difficult environment for the company’s consignment model, as wholesale used car prices remain at an elevated level and automotive production still impacted by supply chain constraints. </p>
<p>Amid deep challenges, the company’s short-term focus will now be on preserving cash through pausing real estate growth as well as cutting G&A expenses, which the analysts view as the prudent strategy in the current vehicle sourcing landscape. </p>
<p>The company also announced its co-Founder and CEO Michael Bor will be leaving and replaced by Lev Peker, an executive with deep industry experience.</p>

NASDAQ:LOTZ