Live Ventures Inc Stock Price, News & Analysis

Live Ventures (NASDAQ: LIVE) will host a conference call on August 16, 2021, at 5:00 p.m. ET to discuss its third fiscal quarter results for 2021. The company plans to file its Quarterly Report on Form 10-Q for the period ended June 30, 2021, around the same date. Live Ventures is a diversified holding company focused on acquiring middle-market businesses, with a portfolio that includes various industries such as textiles, entertainment, and financial services.

Live Ventures Incorporated (Nasdaq: LIVE) announced an agreement to acquire 100% of Salomon Whitney LLC, a broker-dealer, in an all-cash transaction. The company initially acquired 24.9% of SW Financial on June 14, 2021, with the total acquisition pending regulatory approval. Live Ventures expects this acquisition to boost consolidated revenues by approximately 10% and enhance earnings. The merger aims to diversify Live Ventures' portfolio in the financial services sector, promoting long-term growth through a potential ‘roll-up’ strategy, according to CEO Jon Isaac.

Live Ventures Incorporated (Nasdaq: LIVE) announced plans to reinstate quarterly earnings calls, providing a platform for shareholders and analysts to engage with senior management. The calls are scheduled for mid-February for the fiscal full year/first quarter, mid-May for the second quarter, and mid-August for the third quarter. CEO Jon Isaac emphasized the importance of transparency in communicating capital deployment and business operations. Live Ventures is focused on acquiring profitable companies and has subsidiaries in manufacturing and retail, including Marquis Industries and Vintage Stock.

Live Ventures Incorporated (Nasdaq: LIVE) has extended its stock buyback program until June 1, 2024, allowing for up to $10 million in repurchases. Currently, approximately $6.7 million remains available for buying back shares. Since 2018, the company has repurchased 418,000 shares at an average price of $7.70, with the stock closing at $41.75 prior to this announcement. CEO Jon Isaac emphasized that stock repurchases reflect confidence in the company's prospects and financial health, aiming to enhance shareholder value while being funded by operational cash flow.

Live Ventures Incorporated (Nasdaq: LIVE) reported record quarterly revenue of $70.9 million for Q2 fiscal 2021, marking a 53% increase from the previous year. The net income attributable to common stock was $8.7 million, and basic earnings per share (EPS) reached $5.62, up 425%.

The company showed significant growth across all its reporting segments, with Retail revenue at $24.0 million, Flooring Manufacturing at $33.0 million, and Steel Manufacturing contributing $13.8 million. Total cash and cash availability stood at $50.3 million.

Live Ventures Incorporated (Nasdaq: LIVE) reported preliminary record quarterly revenue for Q2 FY2021, expecting between $68 million and $72 million, reflecting a 46-55% year-over-year increase. The revenue growth is attributed to strong performance across its platform. The official Quarterly Report on Form 10-Q is scheduled for filing on May 17, 2021. However, the financial figures are preliminary and subject to adjustments due to the ongoing review process.

Live Ventures Incorporated (Nasdaq: LIVE) has appointed Eric Althofer as Chief Operating Officer and Managing Director for Corporate Finance, effective April 10, 2021. With over a decade of experience in capital markets and M&A, Althofer will lead the finance department and support the company’s growth through acquisitions. CEO Jon Isaac expressed confidence in Althofer's ability to contribute to the company's strategic vision. Althofer previously directed transactions at Capitala Investment Advisors and has a strong background in investment banking with Jefferies LLC.

Live Ventures Incorporated (Nasdaq: LIVE) reported record quarterly revenue of $62.5 million for the first fiscal quarter ended December 31, 2020, marking a 49% increase year-over-year. Earnings per share (EPS) soared to $3.45, representing a remarkable 1,050% rise. Net income climbed to $5.4 million, with operating income reaching $7.3 million, up 109%. The company also repurchased 33,926 shares at an average price of $10.97. Total assets amounted to $190.6 million against $142.0 million in liabilities.

Live Ventures (Nasdaq: LIVE) has announced the full repayment of a $24 million term loan to Comvest Credit Partners, eliminating associated interest costs. This repayment marks a significant milestone, providing the company with enhanced cash flow for future acquisitions. Despite challenges from the Covid-19 pandemic affecting Vintage Stock, which faced temporary store closures, the company adapted through cost-cutting measures and increased demand for in-home entertainment products. Live Ventures continues to focus on acquiring profitable companies with strong earnings histories.