EzFill Holdings secures agreement to acquire 78 trucks from Shell, expanding fuel delivery services to five new markets.
Quiver AI Summary
EzFill Holdings, Inc. recently announced a significant agreement with Shell Retail and Convenience Operations LLC to acquire 78 trucks from Shell's fleet. This acquisition will allow EzFill to expand its mobile fueling services in key markets including Phoenix, San Antonio, Austin, Dallas, and Houston, effectively doubling its fleet size to 144 vehicles. CEO Yehuda Levy highlighted that this milestone enhances their operational capacity and positions the company to scale efficiently while continuing to provide exceptional service. The move aligns with EzFill's ongoing national expansion efforts, which include the recent acquisition of Yoshi Mobility’s fuel division.
Potential Positives
- EzFill is set to acquire 78 trucks from Shell, significantly enhancing its operational capacity and allowing for increased fuel delivery capabilities.
- The acquisition will enable EzFill to expand its services into five new markets, increasing its geographic reach and customer base.
- With the addition of these trucks, EzFill's fleet will grow to a total of 144, positioning the company for improved scalability and efficiency in operations.
- This announcement follows recent expansion efforts, illustrating EzFill's commitment to growth and their strategic approach in the mobile fueling market.
Potential Negatives
- Significant reliance on forward-looking statements may create uncertainty regarding the company's future performance and operational results.
- The press release does not provide specific details on how the acquisition of the trucks will impact financials, raising questions about potential costs and funding sources.
- There is an acknowledgment of various risks that could adversely affect the company, including competition and changes in government regulation, which may undermine investor confidence.
FAQ
What recent agreement did EzFill Holdings announce?
EzFill announced a term sheet with Shell to acquire 78 trucks for fuel delivery in key markets.
Which markets will EzFill expand its services to?
EzFill will deliver fuel in Phoenix, San Antonio, Austin, Dallas, and Houston.
How many trucks will EzFill's fleet increase to?
EzFill's fleet will increase to a total of 144 trucks with this acquisition.
What is EzFill Holdings known for?
EzFill is recognized as a leading mobile fueling service providing on-demand fuel delivery to consumers and businesses.
What benefits will the new agreement bring to EzFill?
The agreement will enhance EzFill's operational capacity, reduce costs, and improve fuel delivery service nationwide.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EZFL Insider Trading Activity
$EZFL insiders have traded $EZFL stock on the open market 30 times in the past 6 months. Of those trades, 0 have been purchases and 30 have been sales.
Here’s a breakdown of recent trading of $EZFL stock by insiders over the last 6 months:
- AVISHAI VAKNIN (Chief Technology Officer) has traded it 30 times. They made 0 purchases and 30 sales, selling 38,023 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EZFL Hedge Fund Activity
We have seen 0 institutional investors add shares of $EZFL stock to their portfolio, and 8 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RENAISSANCE TECHNOLOGIES LLC removed 21,829 shares (-100.0%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC removed 17,856 shares (-100.0%) from their portfolio in Q3 2024
- WEALTHTRUST AXIOM LLC removed 11,813 shares (-100.0%) from their portfolio in Q3 2024
- SIGNATUREFD, LLC removed 8,364 shares (-100.0%) from their portfolio in Q3 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 4,684 shares (-100.0%) from their portfolio in Q3 2024
- MORGAN STANLEY removed 313 shares (-100.0%) from their portfolio in Q3 2024
- UBS GROUP AG removed 223 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MIAMI, Dec. 19, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (NASDAQ: EZFL), a leading mobile fueling company, is pleased to announce the execution of a term sheet with Shell Retail and Convenience Operations LLC (“Shell”), a wholly owned subsidiary of Shell Oil Products US. This agreement facilitates the acquisition of 78 trucks from Shell’s fleet and enables EzFill to immediately begin delivering fuel in the markets of Phoenix, San Antonio, Austin, Dallas, and Houston.
Under the terms of the agreement, EzFill will acquire 78 trucks.
"Today's announcement marks a transformative milestone for EzFill," said Yehuda Levy, CEO of EzFill. "More than doubling our fleet immediately enhances our operational capacity and fuel delivery capabilities, additionally EzFill will now service customers in five new markets. This agreement positions us to scale efficiently, reduce costs, and continue delivering exceptional service to our customers nationwide. We jumped at the opportunity to purchase these trucks to enable EzFill to service the fleet of a large retailer and other customers in these markets."
The addition of these trucks will increase EzFill’s fleet to 144 and expand its geographic reach in key markets including Miami, Orlando, Jacksonville, Tampa, Los Angeles, San Francisco, Detroit, Nashville, Austin, Dallas, Houston, San Antonio, and Phoenix.
This agreement follows EzFill's recent national expansion efforts, including the acquisition of Yoshi Mobility’s fuel division.
About EzFill Holdings, Inc.
EzFill is a Miami-based on-demand mobile fueling service that provides fuel delivery directly to consumers and businesses, eliminating the need for traditional gas stations. As one of the largest mobile fuel delivery platforms in the United States, EzFill focuses on convenience, safety, and efficiency for its users. Visit us at ezfl.com .
Forward-Looking Statements
This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.
Investor Contact
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com