Liquidity Svcs Inc Stock Price, News & Analysis

Liquidity Services reported its Q3 fiscal year 2020 results, revealing a GMV of $130.1 million and GAAP revenue of $47.7 million. Despite a significant decline in GMV and revenue compared to the previous year, the company achieved a GAAP net income of $0.2 million. The RSCG segment saw a 14% growth in GMV, while GovDeals and CAG segments faced declines of 36% and 18%, respectively. The introduction of their consolidated marketplace, AllSurplus.com, resulted in a 148% increase in buyer registrations. The company's cash position improved to $72.7 million with zero debt.

Liquidity Services (NASDAQ:LQDT) will release its third quarter fiscal results for 2020 on August 6, 2020, at 10:30 a.m. Eastern Time. The results will cover the period ending June 30, 2020, and will precede the market open. Bill Angrick, Chairman and CEO, along with Jorge Celaya, EVP and CFO, will host the earnings call. Interested parties can join the teleconference by dialing (888) 771-4371, using conference ID 49857730, or listening via a live webcast on their investor relations website.

Liquidity Services (NASDAQ: LQDT) announces significant growth in its AllSurplus marketplace, particularly in the heavy equipment sales channel, showcasing over 100 assets available for bid in July 2020. The monthly sales event features popular equipment like excavators and trucks, with bidding open until July 29. Michael Smith, senior director, emphasized this event as their largest to date. AllSurplus aims to simplify the purchasing process for buyers, offering lower costs compared to new equipment. Currently, the platform has over 13,000 assets for sale across various sectors.

BETHESDA, Md., June 16, 2020 – Liquidity Services (NASDAQ: LQDT) partners with FSC Holdings to auction excess inventory across 20 categories, including Electrical Parts and Tools. The auction is hosted on AllSurplus with bidding open until June 23, 2020. Fairmont Supply, a subsidiary of FSC Holdings, is a leading distributor of MRO supplies and has served over 5,000 customers with 27 distribution centers.

Liquidity Services (NASDAQ: LQDT) continues to strengthen its partnership with Tiger Capital Group to assist in the turbulent oil and gas market. With over $50 billion cut from industry budgets, the companies aim to support insolvency professionals by facilitating online auctions of distressed energy assets. Despite market challenges, demand for surplus equipment is increasing, providing liquidity to sellers in need of cash. The Tiger Liquidity Services Energy Partners (TLSEP) has a strong track record of selling oil and gas equipment, benefiting various stakeholders in the industry.

On June 9, 2020, Liquidity Services (NASDAQ: LQDT) announced the launch of its new marketplace, AllSurplus, featuring a June Construction Fleet Sale with around 50 heavy equipment assets available for bidding until June 17, 2020. The sale includes bulldozers, wheel loaders, cranes, and extended cab trucks, providing buyers with cost-effective options compared to new purchases. Liquidity Services operates over 11,000 assets in its marketplace, showcasing detailed asset descriptions and inspection reports, enhancing the purchasing experience.

Liquidity Services (NASDAQ: LQDT) has announced the sale of surplus assets from the Savannah River Site, located in Barnwell, South Carolina. Partnering with AW Properties Global and PPL Group, the company will auction approximately 450,000 items on AllSurplus.com, open for bidding until June 18, 2020. The assets, being sold due to project cancellation, include top nuclear-grade equipment suitable for general manufacturing. Featured items comprise lots of power generation equipment, HVAC systems, and construction components. Buyers can also make offers outside of auction events.

Miami-Dade County is auctioning a maritime passenger boarding bridge via GovDeals.com. Manufactured in 2010 by Adelte Seaport, this structure facilitates passenger transport to cruise and ferry ships. It represents a unique opportunity for municipalities seeking to enhance their cruise and ferry services. Interested bidders can visit the bridge before the auction ends on May 29, 2020. As part of Liquidity Services, GovDeals connects sellers and buyers efficiently, having completed over $8 billion in transactions globally.

Liquidity Services (NASDAQ: LQDT) announces a new online auction for construction machinery in Round Rock, TX, hosted on AllSurplus.com. The auction features equipment from leading brands like Caterpillar, John Deere, and Volvo, closing on May 27, 2020. Buyers can acquire previously owned equipment at lower costs, enhancing productivity. Featured items include a 2011 Caterpillar RM500 Rotary Mixer and a 2006 Volvo A25D Dump Truck. The platform facilitates easy asset management for sellers, further widening access to nearly 10,000 assets in various industries.