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) is an asset services company specializing in financial and industrial asset transactions. Its news flow reflects activity across both of its main divisions, Industrial Assets and Financial Assets, and offers insight into auctions, acquisitions, portfolio transactions, and corporate developments.
On the industrial side, news often highlights the work of Heritage Global Partners (HGP), a subsidiary that conducts full-service auctions, liquidations, and asset advisory projects. Recent announcements have covered court-ordered auctions of brewing and restaurant equipment from multiple former brewpub locations, large-scale sales of apparel inventory and industrial laundry equipment from a clothing logistics company, and auctions of brand-new and returned inventory from a maternity apparel brand. These stories illustrate HGP’s role in court-appointed processes and in monetizing specialized equipment and inventories across many sectors.
On the financial side, Heritage Global’s news includes updates from its Financial Assets division, such as the creation of Heritage DebtX LLC and its acquisition of substantially all of the assets of The Debt Exchange, Inc. (DebtX), a full-service loan sale advisor. Coverage of this transaction explains how Heritage DebtX adds loan-portfolio advisory and valuation services, proprietary market-transaction data, and execution support for banks, specialty-finance companies, government agencies, and institutional investors.
Investors and other readers can also find regular earnings releases, which discuss quarterly results, non-GAAP measures like EBITDA and Adjusted EBITDA, capital allocation decisions such as share repurchases, and commentary on auction volumes and financial asset activity. For those tracking HGBL, this news page provides a centralized view of operational milestones, court-approved auction mandates, and strategic moves in both industrial and financial asset markets.
Heritage Global Inc. (NASDAQ: HGBL) reported strong financial results for Q3 2022, with operating income reaching $3.5 million compared to $533 thousand in Q3 2021. Net income was $2.3 million, or $0.06 per share, up from $474 thousand or $0.01 per share last year. Total EBITDA stood at $3.6 million versus $638 thousand a year prior. The company has raised its full-year net operating income target to $9.0 million, surpassing the previous record of $6.1 million in 2020. Strong performance in both Industrial and Financial Assets divisions contributed to these results, supported by increasing auction activity and growing demand for non-performing loans.
Heritage Global Capital (HGC), a division of Heritage Global Inc. (NASDAQ: HGBL), has successfully extended and increased its funding facility from $80 million to $200 million, now expiring on March 31, 2025. This $120 million upsizing enhances HGC's lending capacity to support anticipated growth, particularly as loan defaults are expected to rise due to the current economic climate. HGC specializes in flexible funding structures within the Accounts Receivable Management industry, positioning itself as a leading lender in this space.
Heritage Global Inc. (NASDAQ: HGBL) will release its Q3 2022 financial results on November 10, 2022, after market close. Following this, a webcast and earnings conference call will take place at 5:00 pm ET on the same day. Interested analysts and investors can join via specific dial-in numbers provided. A replay of the call will be accessible on the company's website until November 24, 2022. Heritage Global specializes in asset transactions, aiding in the circular economy by monetizing industrial and financial assets.
Heritage Global Partners announced a public foreclosure sale of assets owned by Forward Foods LLC, including trademarks, recipes, agreements, accounts receivables, and inventory. The auction will take place on October 25, allowing bidders to acquire the assets of the well-known ‘Detour’ and ‘Overnight Oats’ brands. This sale represents a significant opportunity for companies in the health and nutrition sectors. Interested bidders can find more information on HGP's website.
Heritage Global (NASDAQ:HGBL) announced its participation at the Microcap Rodeo Windy City Roundup 2022 on October 12-13, 2022. CEO Ross Dove will present on October 12 at 9:00 AM CT and will be available for one-on-one meetings during the conference. The presentation will be live-streamed and available for replay online. This event aims to connect investors with over 60 microcap companies, providing insights into key value drivers and trends.
For scheduling meetings or further information, contact Angie Goertz.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has secured a multi-year contract with Pfizer for laboratory asset disposition services starting January 1, 2023. This decision follows a competitive bidding process, highlighting the strength of their longstanding relationship since 2013. HGP is projected to handle around 5,000 assets annually from various global locations. The contract emphasizes HGP's role in enhancing Pfizer's asset recovery while contributing to sustainability by redeploying surplus equipment.
National Loan Exchange, Inc. (NLEX), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced that President David Ludwig will participate in the ‘Battle of the Brokers’ panel at the Debt Connection Symposium & Expo on September 8 at 11:15 AM PT. The discussion will cover debt purchasing history, relationships, technology, and company culture. With over 35 years in finance, Ludwig has overseen the sale of more than $150 billion in asset portfolios for top financial institutions, enhancing NLEX's prominence in monetizing financial assets.
Heritage Global Inc. (NASDAQ: HGBL), a company specializing in asset transactions, announced CEO Ross Dove's presentation at the Sidoti August Micro-Cap Virtual Conference. The presentation is scheduled for August 18, 2022, at 10:45 am ET, with one-on-one meetings available on August 17 and 18. Investors interested in attending can register via a provided link. Heritage Global focuses on valuing and monetizing industrial and financial assets, thereby supporting the circular economy through responsible asset management.
Heritage Global (NASDAQ: HGBL) reported strong financial results for Q2 2022, achieving operating income of $3.6 million compared to $73 thousand in Q2 2021. Net income rose to $2.6 million or $0.07 per share, up from $587 thousand or $0.02 per share year-over-year. The company attributed its success to robust performance in both Industrial and Financial Asset Divisions, including $2.6 million from the sale of Huntsville real estate assets. HGBL aims for full-year operating income to exceed $6.1 million, driven by favorable market conditions.
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.
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