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ALSIP, IL - Capstone Holding Corp. (NASDAQ:CAPS) announced Tuesday that its Instone subsidiary has secured a $1 million order for PangaeaⓇ Natural Stone for a luxury resort development in the Mountain States region. The micro-cap company, currently valued at $9.8 million, appears undervalued according to InvestingPro analysis, despite its stock falling over 50% in the past year.
The company has already delivered $200,000 in shipments for the project, which represents Instone’s first major development in the Mountain States area. The stone will be used in more than 30 homes within the luxury resort community, featuring two of Instone’s newest profiles that were added earlier this year.
"This achievement highlights how Capstone’s operating company is executing on our growth strategy and expanding into high-opportunity markets," said Matt Lipman, CEO of Capstone Holding Corp.
Kevin Grotke, President of Instone, noted that the builder has responded positively to the quality of the product and service provided thus far. The project comes as Instone has been expanding its geographic footprint into the Southeastern and Mountain States regions.
The company stated that it has successfully onboarded several new dealer partners in the Mountain States, enabling it to establish a local presence quickly. According to the press release, the resort and custom residential markets in the region have shown strong potential for development.
Capstone Holding Corp., based in Alsip, Illinois, is a building products distribution company that provides stone veneer, landscape stone, and modular masonry fireplaces across 31 U.S. states.
The information in this article is based on a press release statement from Capstone Holding Corp.
In other recent news, Capstone Holding Corp. reported an 8% increase in revenue for the fourth quarter of 2024 compared to the previous year. The company has reiterated its financial targets for 2025, aiming for a $100 million revenue run-rate and $10 million in adjusted EBITDA by year-end. Instone, a subsidiary of Capstone, has played a significant role in this growth, focusing on customer acquisition and top-line growth, and has introduced new products in several states. Capstone’s CEO, Matthew Lipman, has expressed confidence in achieving these goals through organic growth and strategic mergers and acquisitions. The company’s acquisition strategy includes focusing on Tuck-In Acquisitions, Sister Companies, and Platform Acquisitions with favorable deal structures. Capstone has also arranged an Equity Line of Credit to support its acquisition strategy. Despite weather-related disruptions, Instone is expected to see a rebound in order volumes by the third quarter. The company continues to expand its geographic footprint and strengthen its portfolio of proprietary brands.
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