Welcome to our dedicated page for Liquidity Svcs news (Ticker: LQDT), a resource for investors and traders seeking the latest updates and insights on Liquidity Svcs stock.
Liquidity Services, Inc. (NASDAQ: LQDT) is frequently featured in corporate and financial news as a global commerce company that operates B2B e-commerce marketplaces and software solutions for surplus assets. News about Liquidity Services often highlights its role in powering the circular economy, its transaction scale across corporate and government sellers, and developments within its GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio & Software Solutions segments.
Investors and market watchers following LQDT news can expect regular coverage of quarterly and annual financial results, including gross merchandise volume (GMV), revenue, segment performance, and operational metrics such as registered buyers, auction participants, and completed transactions. Earnings releases and accompanying conference calls provide management commentary on business mix, consignment versus purchase models, and trends across key asset categories and marketplaces.
Company news also includes announcements related to marketplace activity and specific asset sales. Examples cited by Liquidity Services include the marketing of high-capacity Diesel Rotary Uninterruptible Power Supply (DRUPS) systems and the sale of a fully equipped manufacturing plant through its AllSurplus marketplace. These stories illustrate how the company’s platforms are used to remarket surplus industrial, manufacturing, and business assets.
In addition, Liquidity Services issues updates on product and software enhancements, such as new service management features within the Machinio System platform, and corporate governance developments, including board appointments. For users tracking LQDT, this news page provides a centralized view of earnings announcements, marketplace events, segment updates, and strategic initiatives described by the company in its public communications.
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.
BETHESDA, Md., May 14, 2020 – Liquidity Services (NASDAQ: LQDT) has partnered with a top manufacturer to auction surplus electrical panelboard production equipment from a closed facility in Peru, IN. The two-day no-reserve auction starts on May 20, 2020, featuring over 500 assets, including turret and hydraulic presses. Key items include five Amada turret presses and Cincinnati press brakes. The auction offers buyers a chance to acquire quality manufacturing equipment at competitive prices.
Liquidity Services reported Q2 FY2020 results with a GAAP revenue of $52.8 million, down from $56.8 million year-over-year. The GAAP net loss was $4.2 million, representing a slight improvement from a loss of $4.4 million in the previous year. Gross Merchandise Volume (GMV) decreased by 7.1% to $144.3 million. Despite the challenges posed by the COVID-19 pandemic, the RSCG segment reported a 6% GMV growth, while the CAG segment saw a 28% decline. The company ended the quarter with a cash position of $51.8 million and zero debt.
AllSurplus, a new marketplace from Liquidity Services (LQDT), is showcasing eight cranes available for sale, with bidding open until early July. Currently, AllSurplus lists over 8,000 assets and has facilitated sales totaling over $1.5 billion in heavy equipment over two decades. Michael Smith, senior director of heavy equipment sales, noted the favorable economic climate for investing in projects due to low interest rates and government stimulus. AllSurplus simplifies the purchasing process with an immediate Buy Now option. Visit AllSurplus.com for more details.