Liquidity Svcs Inc Stock Price, News & Analysis

Liquidity Services (NASDAQ:LQDT) announced a partnership with a New York engineering firm to auction 27 surplus heavy equipment items valued over $800,000 on AllSurplus.com. The auction includes high-value assets such as Caterpillar backhoes and Peterbilt trucks, with bidding closing from August 31 to September 14, 2022.

BETHESDA, Md., Aug. 11, 2022 – Liquidity Services (NASDAQ:LQDT) announced that its Co-Founder and CEO, Bill Angrick, will present at the Midwest IDEAS Investor Conferences on August 25, 2022, at 3:45 PM CT in Chicago, IL. The event aims to connect quality companies with investment professionals. Angrick will hold individual meetings with investors to showcase how Liquidity Services enhances sustainability by extending asset life and reducing waste. A webcast of the presentation will be available for registered attendees.

Liquidity Services reports a record Gross Merchandise Volume (GMV) of $325.0 million for Q3 FY22, a 33% increase year-over-year, alongside revenue of $69.9 million, consistent with the previous year. GAAP net income rose to $16.4 million ($0.50/share), propelled by a $11.5 million non-cash reduction in an earn-out liability. Non-GAAP adjusted EBITDA was $11.9 million, down 11% from the prior year. The company maintains a cash balance of $88.3 million and zero debt, with ongoing efforts to achieve a $1.5 billion annualized GMV target.

Liquidity Services (LQDT) has announced the opening of a new 100,000 square-foot warehouse in Hebron, Kentucky, enhancing its capacity to support retail clients in need of sustainable inventory solutions. This expansion aims to help retailers manage high inventory levels amid declining sales while offering buyers access to overstock and returned items through Liquidation.com. The facility will lower transportation costs and provide quicker delivery to the Midwest and Southern regions, addressing challenges posed by recent economic conditions.

Liquidity Services (NASDAQ:LQDT) will release its third quarter fiscal year 2022 results, covering the period ended June 30, 2022, on August 4, 2022, at 10:30 a.m. Eastern Time. The earnings report will be available before the market opens on the same day. The event will be hosted by CEO Bill Angrick and CFO Jorge Celaya. Interested parties can participate via teleconference by dialing the provided numbers. A live web cast and an archive of the call will be accessible on their investor relations site until August 4, 2023.

Liquidity Services to Attend Key Conferences

On June 15 and June 22, 2022, Liquidity Services (Nasdaq: LQDT) will present at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Conference and the East Coast IDEAS Conference, respectively. CEO Bill Angrick will lead both presentations, discussing the company's role in the circular economy. The presentations will be available for registered attendees and can be accessed through their respective event pages. Liquidity Services has executed over $9 billion in transactions, serving more than 4.7 million buyers worldwide.

Liquidity Services is auctioning two Bell 407GX helicopters on its AllSurplus online marketplace until June 23, 2022. Each helicopter has undergone 2,893 and 2,828 flying hours respectively, featuring Rolls Royce 250-C47b engines. Bidders must place a refundable $5,000 deposit to participate. This auction exemplifies Liquidity Services’ commitment to sustainability and the circular economy, leveraging its global network of over 4.7 million buyers and 15,000 sellers to facilitate asset transactions.

Liquidity Services, in partnership with Apex Auctions, has been selected by a North American energy company to auction over 5,000 items from a canceled project. The assets, which include valves and power generation equipment, will be available on the AllSurplus online marketplace. This initiative is expected to reduce lead times amidst a tight supply in the energy sector.

Liquidity Services (NASDAQ: LQDT) announced participation in the Barrington Research Spring Investment Conference on May 19, 2022. Co-Founder and CEO Bill Angrick, along with CFO Jorge Celaya, will meet with investors to discuss the company's innovative e-commerce solutions. Liquidity Services is the largest B2B platform for surplus assets, with over $9 billion in completed transactions supporting sustainability and circular economy initiatives.