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.
Elk County, PA, transitions to virtual foreclosure sales to enhance buyer participation and efficiency. Bid4Assets, a prominent online marketplace, successfully hosted the first mortgage foreclosure sale on January 19, 2023. This move is aimed at increasing accessibility for bidders, reducing costs, and generating higher net returns for the county. A residential property sold for $27,500 during the auction, with future sales anticipated. Bid4Assets has effectively managed similar transitions in multiple Pennsylvania counties, resulting in a 50% to 100% increase in third-party sales. The initiative supports local homeowners while promoting technological advancements in public service.
Liquidity Services (NASDAQ: LQDT) announced significant board changes effective February 1, 2023. Patrick W. Gross retired after 22 years, marking the end of a notable leadership era. Beatriz Infante has been appointed as the new Lead Independent Director, succeeding Gross. Thierno “Amath” Fall joins the board, bringing extensive financial and operational experience. The changes align with the company’s succession planning and aim to enhance governance amid its mission to support sustainability and boost shareholder value. The board now consists of eight directors, six of whom are independent.
Liquidity Services (NASDAQ:LQDT) reported Q1 results ending December 31, 2022, showcasing a 4% increase in Gross Merchandise Volume (GMV) to $270.8 million, and an 8% revenue growth to $72.3 million. GAAP Net Income reached $4.0 million ($0.12 per share), up from $3.6 million ($0.10). Non-GAAP Adjusted EBITDA stood at $9.8 million, reflecting a $0.4 million increase year-over-year. The company maintains a robust cash position of $79.9 million with zero debt and plans to invest in market share expansion despite macroeconomic challenges. Q2 FY23 guidance expects GMV between $260 million and $285 million with GAAP Net Income between $1.0 million and $3.5 million.
Liquidity Services (NASDAQ:LQDT) has sold a high-pressure hydrocracker reactor to a major U.S. renewable diesel manufacturer, concluding the sale in December 2022. The reactor, stored at the Port of Gwangyang, South Korea, was fabricated in 2010 by Kobe Steel Japan and will enable the buyer to initiate their project 12-18 months sooner. This reactor will help produce various fuels including diesel and jet fuel from renewable sources. The sale also includes ancillary equipment and related technical data. A similar reactor is still available for sale through AllSurplus.com.
Liquidity Services (NASDAQ:LQDT) has partnered with Aaron Industrial Solutions to auction a closed oil refinery in Portugal, which has a capacity of 110,000 barrels per day and spans approximately 716 acres. This project aims to meet rising demand for oil and gas amid recent shortages due to geopolitical tensions and refinery closures. The initiative emphasizes sustainability by prolonging the life of existing equipment, reducing the need for new manufacturing, and mitigating environmental impacts. For more details, visit AllSurplus.com.
Liquidity Services (NASDAQ: LQDT) announced it will report its Q1 fiscal year 2023 results before the market opens on February 2, 2023. Following the release, CEO Bill Angrick and CFO Jorge Celaya will hold a conference call at 10:30 AM ET to discuss the results. Interested participants can register for the call or access a live webcast on the company's investor relations site. Liquidity Services operates the largest B2B e-commerce marketplace for surplus assets, having completed over $10 billion in transactions worldwide.
Liquidity Services (NASDAQ:LQDT) reported Q4 FY2022 results with a GMV of $283.3 million, a 16% increase year-over-year, and revenue of $75.2 million, up 7%. However, GAAP net income fell to $8.3 million, down $24.4 million due to non-cash benefits last year. Non-GAAP adjusted EBITDA rose to $12.3 million. Liquidity Services has a robust cash position of $97.9 million with zero debt. Looking ahead, the company aims for an annualized GMV of $1.5 billion, despite near-term headwinds affecting vehicle supply. A new $8.4 million share repurchase program has also been authorized.
Liquidity Services (NASDAQ:LQDT), a leader in global commerce, will present at two major investor conferences this month. The 14th Annual Southwest IDEAS Investor Conference is set for November 16, 2022, featuring CEO Bill Angrick at 12:45 PM CT. Attendees can watch the live webcast on the IDEAS conference page. The company will also participate in the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022, where CFO Jorge Celaya will hold meetings with investors in New York City. This engagement highlights LQDT's commitment to investor relations and market visibility.
Liquidity Services (NASDAQ:LQDT) announced it will report its fourth quarter fiscal year 2022 results on December 8, 2022, before market opening. CEO Bill Angrick and CFO Jorge Celaya will host a conference call at 10:30 AM ET to discuss the results. The call will be accessible via registration, with a live webcast available on the company's investor relations site. Liquidity Services is a leading global commerce company supporting the circular economy, having facilitated over $10 billion in transactions through its B2B e-commerce marketplace.
FAQ
What is the current stock price of Liquidity Svcs (LQDT)?
What is the market cap of Liquidity Svcs (LQDT)?
