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. reports on an asset-services business that values and monetizes industrial and financial assets through acquisition, disposition, valuation, brokerage and lending services for surplus and distressed assets. The company operates through Industrial Assets and Financial Assets business units, including Heritage Global Partners for auctions, liquidation and asset advisory work, Heritage Global Valuations for commercial and industrial appraisals, and National Loan Exchange for charged-off and nonperforming asset portfolios.
Recurring company updates include quarterly results, share repurchase activity, asset auctions, valuation and advisory appointments, facility investments, and completed acquisitions such as DebtX, which expands loan-portfolio advisory and secondary-market services within the Financial Assets division.
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.
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.