Heritage Global Inc Stock Price, News & Analysis

Heritage Global Partners, a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has launched online bidding for a former Covid-19 testing site auction. Starting from August 10, 2022, the auction features various lab equipment, including liquid handlers, PCR machines, and centrifuges, valued at approximately $30 million in new costs. This event presents a significant opportunity for biotech and research labs to acquire high-quality used assets at cost savings.

Heritage Global (NASDAQ: HGBL) will release its second quarter 2022 financial results on August 10, 2022, after market close. Management will hold a webcast and conference call at 5:00 pm ET on the same day to discuss these results. Participants can join via conference call, with dial-in numbers provided for both domestic and international callers. A replay will be available approximately two hours after the call, accessible through the company's website until August 24, 2022. Heritage Global specializes in asset services including acquisitions, dispositions, and valuations across diverse sectors.

Heritage Global Inc. (NASDAQ: HGBL) announced significant growth in net operating income (NOI) for Q2 2022, with expectations ranging from $3.0 million to $4.0 million. This rise is attributed to strong performance in its industrial and financial sectors and the conclusion of the Huntsville real estate project. CEO Ross Dove highlighted that their real estate transactions have proven to be high-margin revenue generators, indicating potential for continuous growth. Full financial results are set to be reported the week of August 8, 2022.

Heritage Global (NASDAQ: HGBL) has appointed Brian Cobb as Chief Financial Officer, effective immediately. Cobb, who joined the company in 2017, has held various roles including Vice President of Finance. He will oversee all financial activities, including accounting, financial reporting, and investor relations, supporting the company’s growth objectives. CEO Ross Dove praised Cobb for his contributions and alignment with the company's values. Heritage Global specializes in financial and industrial asset transactions, offering services across 28 global sectors.

Heritage Global Inc. (NASDAQ: HGBL) reported its Q1 2022 financial results, showing net income of $645K or $0.02 per share, a decline from the previous year's $1.0M. Operating income also fell to $875K. EBITDA reached $1.0M, down from $1.1M in Q1 2021. The company anticipates closing two real estate transactions contributing over $2.5 million in profit and has initiated a $4 million share repurchase program. CEO Ross Dove expressed optimism about 2022, targeting net operating income exceeding $6.1 million.

Heritage Global Inc. (NASDAQ: HGBL), an asset services company, will release its first quarter 2022 financial results on May 12, 2022, after market close. A conference call will take place at 5:00 pm ET on the same day, allowing analysts and investors to discuss the results. Participants can join via specific dial-in numbers provided in the release. A replay of the call will be available on the company's website until May 26, 2022. Heritage Global specializes in financial and industrial asset transactions, providing various asset-related services across multiple sectors.

Heritage Global (NASDAQ: HGBL) announced the appointment of Ashley Arens-Yager as Assistant Vice President – Sale Operations at its subsidiary, National Loan Exchange (NLEX). With over 16 years in the debt buying industry, she brings significant expertise, having generated approximately $200 million annually in portfolio acquisitions. Her role will focus on enhancing NLEX's operations and supporting internal growth initiatives. NLEX has executed over 5,000 sales worth more than $150 billion in transactions in its 25-year history.

Heritage Global Inc. (NASDAQ: HGBL) has acquired two pharmaceutical plants in Missouri in partnership with New Mill Capital, Keith Machinery, and Federal Equipment Company. The Bridgeton plant spans 124,000 square feet and features advanced manufacturing and packaging facilities, having passed multiple FDA compliance audits since 2012. The St. Louis site, at 99,000 square feet, will auction its equipment. The acquisition aims to enhance market presence in the pharmaceutical sector and supports quick operational startup.

Heritage Global Inc. (NASDAQ: HGBL) announced that CEO Ross Dove will present at the 2022 Virtual Growth Conference hosted by Maxim Group LLC from March 28-30, 2022. Dove's talk, titled "Fireside Chat with Heritage Global Inc.," is scheduled for March 29 at 1:30 p.m. ET. This conference will feature executives from various sectors, including Biotech, Clean Energy, and Financial Services, offering presentations, discussions, and live Q&A sessions. Interested participants can sign up for M-Vest to attend.