Speedemissions, Inc. Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 05, 2018 at 07:30 am EST
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Speedemissions, Inc. announced consolidated earnings results for the third quarter ended September 30, 2018. Total revenue increased 3.69%, to $860,259 for the quarter ended September 30, 2018, as compared to revenue of $829,668 for the quarter ended September 30, 2017. Third quarter revenue was positively impacted by an increase in emission tests and the steady growth of the recycling operation. The company reported a 251% increase in its adjusted EBITDA to $72,889 for the quarter ended September 30, 2018, as compared to adjusted EBITDA of $20,745 for the quarter ended September 30, 2017. Net Income of $40,882 for quarter ended September 30, 2018 compared to a net loss of $20,317 for the same period in 2017.
Consolidated revenue for the nine months ended September 30, 2018 increased 2.6% or $64,365 to $2,570,707.
Speedemissions, Inc. (Speedemissions) is a retail brand emissions testing and safety inspections company. The Company is operating approximately 19 stores and three mobile testing units in the Atlanta and St. Louis markets. The Company has performed over 2.5 million vehicle emission inspections and nearly 1.25 million vehicle safety inspections. Its emission testing store does not repair cars that fail the emission and/or safety inspection, nor does it offer any other repair services, such as oil changes, brakes, or mufflers. The Company is in the Atlanta, Georgia and St. Louis, MO markets. The Company also offers its customers vehicle emissions testing and repair services in convenient locations.
SPEEDEMISSIONS, INC. 
