The company was recognized for 589% three-year revenue growth, ranking No. 591 overall, No. 97 in California, No. 27 in Business Services, and No. 32 in Los Angeles metro.
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News Release Highlights:
Battery X Metals appoints electric vehicle and lithium-ion battery entrepreneur William Fan as President to advance its patent-pending lithium-ion battery rebalancing technology development, expand strategic industry relationships, advance corporate development initiatives, including evaluating complementary opportunities within the broader battery ecosystem, and support the Company's capital markets initiatives.
Mr. Fan previously led a bid to acquire the intellectual property and operating assets of ElectraMeccanica Vehicles Corp., a Nasdaq-listed electric vehicle manufacturer at the time, and brings experience spanning the electric vehicle, lithium-ion battery, energy storage, corporate development, and capital markets sectors, complemented by manufacturing training at automotive production facilities in North America, Europe, and South Korea.
Mr. Fan brings experience across lithium-ion battery recycling, reverse logistics, battery supply chain, and energy storage initiatives. He was an early startup member of the Volta Foundation, was selected as a member of Canada's 2022 delegation to the G20 Young Entrepreneurs' Alliance Summit, and has participated in international sustainability initiatives, including the United Nations Climate Change Conference (COP28), and has been invited to speak at TEDx on sustainable transportation.
Second Quarter Highlights
Per Class B share(3): $1.35 adjusted basic earnings up 10.7%; $1.31 basic earnings up 8.3%;
Sales increased 9.1% on 5.0% organic growth, 1.8% acquisition growth and 2.3% positive currency translation
Operating income(1) improved 8.8%, with a 16.6% operating margin(1) flat to 2025
Returned $325.3 million to shareholders: $61.2 million in dividends and repurchased 3.1 million Class B shares for $264.1 million
Six-Month Highlights
Per Class B share(3): $2.55 adjusted basic earnings up 6.3%; $2.49 basic earnings up 4.2%;
Sales increased 6.0% on 3.5% organic growth, 1.1% acquisition growth and 1.4% positive currency translation
Operating income(1) improved 4.6%, with a 16.5% operating margin(1) down 20 bps
Returned $455.1 million to shareholders: $123.5 million in dividends and repurchased 3.8 million Class B shares for $331.6 million
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Read MoreGross profit increased 93% from Q1 as operating expenses declined 17%, demonstrating strong sequential operating performance
Q2 net sales reached a record $5.23 million, up 27% year-over-year and 58% sequentially
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