Heritage Global to Announce First Quarter Results and Host Webcast on Thursday, May 11, 2023; Expects Record Net Operating Income

Rhea-AI Summary

Heritage Global Inc. (NASDAQ: HGBL) announced its first-quarter 2023 financial results will be released on May 11, 2023. CEO Ross Dove expressed optimism about reporting a Net Operating Income that may exceed the record $3.6 million from the previous year’s second quarter. This anticipated growth reflects robust performance across all operational segments and favorable macroeconomic conditions. Investors can tune into a webcast and conference call on the same day at 5:00 PM ET for detailed insights. A replay will be available until May 25, 2023. Heritage Global specializes in asset valuation and monetization, aiding in the circular economy while managing surplus and distressed assets.

Positive

• Anticipation of Net Operating Income exceeding $3.6 million, indicating strong performance.
• Positive outlook driven by strength across all operating segments.
• Management's commitment to investor engagement through a scheduled conference call.

Negative

• None.

SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced the release of its first quarter 2023 results after the market closes on Thursday, May 11, 2023.

“I am looking forward to reviewing the first quarter results with investors. We have already had a fantastic start to 2023 and anticipate reporting Net Operating Income that will meet or exceed our previous record of $3.6 million, achieved in the second quarter of last year. This reflects strength across all our operating segments and ongoing macro tailwinds,” said Ross Dove, Heritage Global Inc. CEO.

Webcast and Earnings Conference Call

Management will host a webcast and conference call on Thursday, May 11, 2023, at 5:00 pm ET to discuss financial results for the first quarter of 2023. Analysts and investors may participate via conference call, using the following dial-in information:

• 1-888-999-3182 (Domestic)
• 1-848-280-6330 (International)

In addition, individuals can use this link for telephone access to the call via their web browser. The conference call will also be available in the Investor Relations section of the Company’s website. To listen to a live broadcast, go to the site at least 10 minutes prior to the scheduled start time in order to register.

Replay

A replay of the call will be available on the Company’s website approximately three hours after the call ends through May 25, 2023. To access the replay, dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international). The replay pin number is 0151935. The replay can also be accessed on the Investor Relations section of the Company’s website.

About Heritage Global Inc.

Heritage Global Inc. ("HG") values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, account receivable portfolios, and intellectual property through its two business units: Industrial Assets and Financial Assets.

Forward Looking Statements

This communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. While the Company believes the forward-looking statements contained in this communication are accurate, these forward-looking statements represent the Company’s beliefs only as of the date of this communication, and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, including variability in magnitude and timing of asset liquidation transactions, the impact of changes in the U.S. national and global economies, and interest rate and foreign exchange rate sensitivity, as well as other factors beyond the Company’s control. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005266/en/

Investor Relations:

John Nesbett/Jennifer Belodeau

IMS Investor Relations

203.972.9200

InvestorRelations@hginc.com

Source: Heritage Global Inc.

FAQ

When will Heritage Global Inc. announce its first-quarter 2023 results?

Heritage Global Inc. will announce its first-quarter 2023 results on May 11, 2023.

What is the expected Net Operating Income for Heritage Global in Q1 2023?

Heritage Global expects its Net Operating Income to meet or exceed $3.6 million in Q1 2023.

What time is the Heritage Global conference call on May 11, 2023?

The conference call will occur at 5:00 PM ET on May 11, 2023.

How can I access the replay of Heritage Global's conference call?

The replay of Heritage Global's conference call will be available on their website approximately three hours after the call ends, until May 25, 2023.