Welcome to our dedicated page for Heritage Global news (Ticker: HGBL), a resource for investors and traders seeking the latest updates and insights on Heritage Global stock.
Heritage Global Inc. (NASDAQ: HGBL) specializes in transforming surplus industrial equipment and financial assets into value through strategic acquisition, valuation, and disposition services. This news hub provides investors and industry professionals with essential updates on the company's auction activities, specialty lending developments, and circular economy initiatives.
Key Resources for Asset Market Analysis: Track HGBL's operational milestones through verified press releases and financial disclosures. Our curated collection spans earnings reports, partnership announcements, and market expansion updates relevant to industrial asset liquidation and financial asset management.
Core Coverage Areas Include:
- Auction & liquidation results for manufacturing assets
- Specialty lending portfolio updates
- Strategic acquisitions in distressed asset markets
- Circular economy impact initiatives
- Financial performance disclosures
Bookmark this page for real-time access to HGBL's corporate communications and market-moving developments. For comprehensive analysis of asset monetization trends, combine these updates with our industry research tools.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has been appointed to conduct two major online auctions of Cue Health's assets by order of the US Bankruptcy Court. The auctions feature over 2,000 lots of state-of-the-art equipment from Cue Health, a San Diego-based healthcare technology and Covid-19 testing company.
The first auction, scheduled for August 19-20, 2024, will offer cutting-edge research, development, and laboratory equipment from Cue Health's Carrol Canyon location. The second auction, set for August 27-29, 2024, will include machine tools, packaging and assembly equipment, and facility support assets from Cue Health's manufacturing plant in Vista, CA.
Heritage Global Inc. (NASDAQ: HGBL) reported financial results for Q2 2024, showing operating income of $3.5 million, up from $3.1 million in Q2 2023. Net income was $2.5 million or $0.07 per diluted share. The company's industrial assets division performed well, with high demand for auction services. However, the specialty lending segment faced challenges as its largest borrower defaulted, leading to loans being placed in nonaccrual status. This is expected to reduce 2024 operating income by approximately $1.6 million. Despite this setback, Heritage Global's other operating businesses continue to perform well, maintaining consistent profitability.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), is set to host an exclusive online auction featuring premium assets of Waitr Holdings Inc. The auction, scheduled to close on September 5, 2024, offers a unique opportunity for businesses and entrepreneurs to acquire valuable intellectual property, including:
- Over 45 premium domain names (e.g., ASAP.COM, AlcoholASAP.com)
- More than 15 trademarks (including Bite Squad, Foodify)
- Copyrights and patents for innovative products
- Exclusive customer and restaurant lists
This sale presents a rare chance to obtain top-tier assets that can significantly enhance business operations and market presence in the on-demand delivery and online ordering space.
Heritage Global (NASDAQ: HGBL), a company specializing in financial and industrial asset transactions, announced it will release its second quarter 2024 financial results after market close on Thursday, August 8, 2024.
Additionally, the company will host a webcast and conference call at 5:00 p.m. ET on the same day to discuss the results. The call will be accessible via provided domestic and international dial-in numbers and will also be available on the company's Investor Relations website.
A replay of the call will be available approximately three hours after the call concludes, with access details provided for both domestic and international participants. The webcast replay will also be available on the Investor Relations section of the company's website.
Heritage Global Partners and Integra Asset Solutions are hosting an exclusive online auction featuring woodworking and furniture manufacturing equipment from Flexsteel Industries. Bidding closes on May 21, 2024, providing businesses and individuals with the opportunity to acquire machinery and equipment tailored for furniture production. Flexsteel Industries, a leading furniture manufacturer in the U.S., offers a wide range of equipment at the auction, including routers, fabric cutters, material handling vehicles, sewing machines, and compressors. Prospective bidders can preview the equipment on May 20, 2024, and participate in the online auction through the auction website.
Heritage Global Inc. reported solid financial results for the first quarter of 2024, with operating income of $2.6 million and net income of $1.8 million. EBITDA and Adjusted EBITDA were $2.7 million and $2.9 million, respectively. The Company strengthened its balance sheet, increasing stockholders' equity to $63.0 million and net working capital to $15.0 million. M&A remains a strategic focus for future growth.
Heritage Global Partners, a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), will conduct an online auction of solar assets featuring ~8.8MW of solar panels, trucks, trailers, hardware, racking, inverters, and intellectual property. The auction will run from April 30 to May 1, 2024, presenting a unique opportunity for buyers across various industries. Assets originate from Sunworks, Inc., Solcius, , Commercial Solar Energy Inc., and Sunworks United Inc.
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