Liquidity Svcs Inc Stock Price, News & Analysis

Liquidity Services (NASDAQ: LQDT) has been chosen by a major U.S. oil and gas exploration and production company to sell over 30 workover rigs and associated surplus assets in West Texas. The sale, featuring Cameron, Watson Corsair, Rig Works, and Franks rigs, is taking place through a sealed bid event on AllSurplus.com until September 12th, 2024, at 5:00 pm EDT.

This opportunity allows businesses in the oil and gas industry to acquire premium workover rigs at competitive prices. Buyers can bid on individual assets or the entire catalog. Liquidity Services' VP of business development, Darron Hanner, emphasized that their global market reach and competitive bidding platform will ensure these assets continue to operate, reducing new manufacturing needs and minimizing landfill waste.

Liquidity Services (NASDAQ: LQDT) has announced a sealed bid auction for three unused, uninstalled ANGI compressed natural gas (CNG) refueling stations on behalf of a major integrated oil and gas The auction, hosted on AllSurplus.com, runs until September 12, 2024, at 6:00 pm EDT. Each station includes duplex and simplex ariel compressors, storage vessels, dispensers, and starter assemblies.

Located in San Jose and Van Nuys, California, and Portland, Oregon, these assets offer a unique opportunity for fuel station operators, fleet operators, or companies entering the CNG fueling business. Buyers can bid on individual stations or all three, potentially saving significantly compared to new equipment costs while bypassing lengthy delivery times.

Liquidity Services (NASDAQ: LQDT) has partnered with Aaron Industrial Solutions (AIS) to conduct its first sale in China for a global energy leader. The sale features over 60 unused Sumimoto cryogenic aluminum brazed fin heat exchangers available on AllSurplus.com until August 31, 2024. This marks the beginning of a series of sales for the energy company in China.

Hugh Yu, Liquidity Services Managing Director for APAC, emphasized the significance of this partnership and the potential for future sales. The assets include Argon Condensers, Nitrogen Superheaters, and Refined AR Column Condensers, all built to ASME code and National Board registered. Peder Grimstrup, AIS Managing Director, highlighted the commitment to sustainability in the disposal process.

Liquidity Services (NASDAQ: LQDT) and Tiger Group have announced the fifth auction in a series of court-ordered auctions related to the bankruptcy of El Dorado Gas & Oil. Over 230 energy assets located in Three Rivers, Texas are available until August 28, 2024 on AllSurplus.com. The auction includes high-value equipment such as sand kings, frac pumps, and nitrogen pumpers.

This sale is part of the ongoing bankruptcy liquidation of El Dorado Gas & Oil's estate assets, managed by Liquidity Services and Tiger Group since mid-July. The auction offers oil and gas operators and equipment dealers the opportunity to acquire a wide range of equipment at prices significantly below new. Available items include drilling rigs, fracking and gas processing equipment, pumps, compressors, and machine shop items.

Liquidity Services (NASDAQ:LQDT), a global commerce company driving the circular economy, announced its participation in the 15th Annual Midwest IDEAS Conference on August 28, 2024. Bill Angrick, Co-Founder, Chairman, and CEO, will represent the company, delivering a presentation and engaging in one-on-one meetings throughout the day.

The presentation is scheduled to begin at 10:15 am ET and will be accessible via the IDEAS conference page. Following the event, a playback option will be available through the Liquidity Services Investor page. This conference provides an opportunity for Liquidity Services to showcase its business model and growth strategies to potential investors and industry analysts.

Liquidity Services (NASDAQ:LQDT) reported strong Q3 FY2024 results, achieving record Gross Merchandise Volume (GMV) of $380.4 million, up 14% year-over-year. Revenue increased 16% to $93.6 million. The company posted GAAP Net Income of $6.0 million and Non-GAAP Adjusted EBITDA of $14.7 million, its highest in 10 years. Key highlights include:

- GovDeals segment set a quarterly GMV record of $250 million
- RSCG segment saw increased volumes
- Machinio segment achieved another revenue record
- Cash balance of $136.8 million with zero debt

For Q4 FY2024, Liquidity Services expects:
- GMV between $330-365 million
- GAAP Net Income of $5.0-7.0 million
- Non-GAAP Adjusted EBITDA of $12.0-15.0 million

Liquidity Services (NASDAQ: LQDT) has partnered with Tiger Group to sell over 300 energy equipment assets from El Dorado Gas & Oil's bankruptcy liquidation. The online auction, running until August 13, 2024, features high-value items like frac pumps, trucks, and trailers located in Texas. Available on AllSurplus.com, the sale offers oilfield and well services companies a chance to enhance their fleets with no buyer's premium.

Nick Taylor, Liquidity Services' senior VP, highlighted the auction's strong value proposition due to the bankruptcy liquidation and the high utility of the wide array of equipment. Key items include a SPN Trailer Mounted Pump, a 2018 Bar H Welding Sand Separator Trailer, and a 2017 Wier SPM Frac Pump Trailer.

Liquidity Services (NASDAQ: LQDT) has relocated and expanded its Indianapolis operation, moving from Plainfield to a larger 203,840 sq ft facility in Brownsburg, Indiana. This expansion aims to accommodate more excess inventory from retailers, enhance the customer experience for liquidation resellers and consumers, and reinforce the company's commitment to sustainability. The new warehouse is one of nine across North America servicing Liquidation.com and AllSurplus Deals.

The facility addresses the growing challenge of product returns, which contributed $743 billion worth of goods to landfills in 2023. By extending the lifecycle of returned and overstock items, Liquidity Services is working to reduce waste and environmental impact. The new location employs up to 90 people, including all employees from the previous Plainfield location, and has added new jobs to support growth in the region.

Liquidity Services (NASDAQ:LQDT) announced it will report its Q3 FY 2024 results on August 8, 2024, before market open. The company will host a conference call at 10:30 AM ET to discuss the results, featuring Chairman and CEO Bill Angrick and EVP and CFO Jorge Celaya. Participants can register to receive dial-in details, and a live webcast will be available on the company's investor relations site. An archived replay of the call will be accessible until August 8, 2025.