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Heritage Global Inc. (HGBL) is a prominent player in the industrial and financial asset sectors, specializing in the acquisition, disposition, valuation, and lending services for surplus and distressed assets. The company plays a vital role in the circular economy by diverting useful industrial assets from landfills and maintaining an ethical supply chain through comprehensive post-sale account activity oversight of financial assets.
Heritage Global Inc. operates through two main business units: Industrial Assets and Financial Assets. Within the Industrial Assets segment, the company has three primary revenue streams:
- Heritage Global Partners (HGP): A globally recognized, full-service auction, liquidation, and asset advisory firm with a strong foothold in the industrial sector.
- Heritage Global Valuations (HGV): Specializes in the valuation of commercial and industrial assets, including inventories and machinery.
- Asset Refurbishment and Resale: Focuses on refurbishing and reselling used industrial machinery and equipment.
The Financial Assets segment involves the brokerage and specialty lending services, addressing the needs of account receivable portfolios and intellectual property transactions. Heritage Global Inc. has established itself as a reliable advisor and broker, helping clients manage and monetize their industrial and financial assets efficiently.
Heritage Global Inc. has made significant strides in recent years, expanding its global reach and enhancing its service offerings. It generates maximum revenue through its Auction and Liquidation segment, underscoring its expertise in the field. The company continues to innovate and adapt to market demands, positioning itself as a leader in asset monetization and ethical supply chain management.
Stay tuned for the latest news and updates on Heritage Global Inc. as the company continues to grow and navigate the ever-evolving industrial and financial landscapes.
National Loan Exchange, Inc. (NLEX), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), announced that President David Ludwig will participate in the ‘Battle of the Brokers’ panel at the Debt Connection Symposium & Expo on September 8 at 11:15 AM PT. The discussion will cover debt purchasing history, relationships, technology, and company culture. With over 35 years in finance, Ludwig has overseen the sale of more than $150 billion in asset portfolios for top financial institutions, enhancing NLEX's prominence in monetizing financial assets.
Heritage Global Inc. (NASDAQ: HGBL), a company specializing in asset transactions, announced CEO Ross Dove's presentation at the Sidoti August Micro-Cap Virtual Conference. The presentation is scheduled for August 18, 2022, at 10:45 am ET, with one-on-one meetings available on August 17 and 18. Investors interested in attending can register via a provided link. Heritage Global focuses on valuing and monetizing industrial and financial assets, thereby supporting the circular economy through responsible asset management.
Heritage Global (NASDAQ: HGBL) reported strong financial results for Q2 2022, achieving operating income of $3.6 million compared to $73 thousand in Q2 2021. Net income rose to $2.6 million or $0.07 per share, up from $587 thousand or $0.02 per share year-over-year. The company attributed its success to robust performance in both Industrial and Financial Asset Divisions, including $2.6 million from the sale of Huntsville real estate assets. HGBL aims for full-year operating income to exceed $6.1 million, driven by favorable market conditions.
Heritage Global Partners, a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has launched online bidding for a former Covid-19 testing site auction. Starting from August 10, 2022, the auction features various lab equipment, including liquid handlers, PCR machines, and centrifuges, valued at approximately $30 million in new costs. This event presents a significant opportunity for biotech and research labs to acquire high-quality used assets at cost savings.
Heritage Global (NASDAQ: HGBL) will release its second quarter 2022 financial results on August 10, 2022, after market close. Management will hold a webcast and conference call at 5:00 pm ET on the same day to discuss these results. Participants can join via conference call, with dial-in numbers provided for both domestic and international callers. A replay will be available approximately two hours after the call, accessible through the company's website until August 24, 2022. Heritage Global specializes in asset services including acquisitions, dispositions, and valuations across diverse sectors.
Heritage Global Inc. (NASDAQ: HGBL) announced significant growth in net operating income (NOI) for Q2 2022, with expectations ranging from
Heritage Global (NASDAQ: HGBL) has appointed Brian Cobb as Chief Financial Officer, effective immediately. Cobb, who joined the company in 2017, has held various roles including Vice President of Finance. He will oversee all financial activities, including accounting, financial reporting, and investor relations, supporting the company’s growth objectives. CEO Ross Dove praised Cobb for his contributions and alignment with the company's values. Heritage Global specializes in financial and industrial asset transactions, offering services across 28 global sectors.
Heritage Global Inc. (NASDAQ: HGBL) reported its Q1 2022 financial results, showing net income of $645K or $0.02 per share, a decline from the previous year's $1.0M. Operating income also fell to $875K. EBITDA reached $1.0M, down from $1.1M in Q1 2021. The company anticipates closing two real estate transactions contributing over $2.5 million in profit and has initiated a $4 million share repurchase program. CEO Ross Dove expressed optimism about 2022, targeting net operating income exceeding $6.1 million.
Heritage Global Inc. (NASDAQ: HGBL), an asset services company, will release its first quarter 2022 financial results on May 12, 2022, after market close. A conference call will take place at 5:00 pm ET on the same day, allowing analysts and investors to discuss the results. Participants can join via specific dial-in numbers provided in the release. A replay of the call will be available on the company's website until May 26, 2022. Heritage Global specializes in financial and industrial asset transactions, providing various asset-related services across multiple sectors.
Heritage Global (NASDAQ: HGBL) announced the appointment of Ashley Arens-Yager as Assistant Vice President – Sale Operations at its subsidiary, National Loan Exchange (NLEX). With over 16 years in the debt buying industry, she brings significant expertise, having generated approximately $200 million annually in portfolio acquisitions. Her role will focus on enhancing NLEX's operations and supporting internal growth initiatives. NLEX has executed over 5,000 sales worth more than $150 billion in transactions in its 25-year history.
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