Welcome to our dedicated page for HERITAGE GLOBAL news (Ticker: HGBL), a resource for investors and traders seeking the latest updates and insights on HERITAGE GLOBAL stock.
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.
Heritage Global Inc. (NASDAQ: HGBL) has acquired two pharmaceutical plants in Missouri in partnership with New Mill Capital, Keith Machinery, and Federal Equipment Company. The Bridgeton plant spans 124,000 square feet and features advanced manufacturing and packaging facilities, having passed multiple FDA compliance audits since 2012. The St. Louis site, at 99,000 square feet, will auction its equipment. The acquisition aims to enhance market presence in the pharmaceutical sector and supports quick operational startup.
Heritage Global Inc. (NASDAQ: HGBL) announced that CEO Ross Dove will present at the 2022 Virtual Growth Conference hosted by Maxim Group LLC from March 28-30, 2022. Dove's talk, titled "Fireside Chat with Heritage Global Inc.," is scheduled for March 29 at 1:30 p.m. ET. This conference will feature executives from various sectors, including Biotech, Clean Energy, and Financial Services, offering presentations, discussions, and live Q&A sessions. Interested participants can sign up for M-Vest to attend.
Heritage Global Inc. (NASDAQ: HGBL) announced that Andrew Valko has joined Heritage Global Valuations as Director of Sales. Valko, with nearly 20 years of experience, will oversee business development in the Midwest, focusing on asset valuation and advisory services. His previous role involved coordinating appraisal needs at B. Riley Advisory Services. Valko's appointment reflects the company's commitment to enhancing its market presence and client service in the Midwest. The leadership change aims to strengthen client relationships and accelerate growth in valuation services.
Heritage Global Inc. (NASDAQ: HGBL) reported its fourth quarter and full year 2021 results, showcasing a sequential increase in operating income, which rose more than 160% to $1.4 million compared to $0.5 million in Q3 2021. However, net income decreased to $1.0 million from $6.3 million in Q4 2020, reflecting prior year benefits from a real estate transaction. The company anticipates growth in non-performing loans and sees opportunities in sustainable asset disposal. Equity rose to $32.6 million, signaling financial stability.
Heritage Global Inc. (NASDAQ: HGBL) has appointed Raspina Jannesar as Chief Marketing Officer. Ms. Jannesar will oversee all marketing and branding initiatives to enhance company awareness, particularly among investors. With over 19 years of experience, she previously led the Client Success Team at Auction Technology Group, where she drove commercial growth through effective digital marketing strategies. CEO Ross Dove emphasized the company's readiness for growth and the importance of marketing leadership in achieving their objectives.
Heritage Global Inc. (NASDAQ: HGBL) has announced the rescheduling of its fourth quarter and year-end 2021 financial results release to after market close on March 17, 2022. A webcast and earnings conference call will take place the same day at 5:00 pm ET, providing an opportunity for analysts and investors to discuss the financial results. Participants can join via a dedicated dial-in number or access the event through the company's website. A replay will be available shortly after the call until March 31, 2022.
Heritage Global Inc. (NASDAQ: HGBL) announced it will release its fourth quarter and year-end 2021 financial results after market close on Thursday, March 10, 2022. A conference call and webcast to discuss these results will also take place on the same day at 5:00 PM ET, with participation details provided. The call will be accessible via the company's website, and a replay will be available shortly after the call until March 24, 2022. Heritage Global specializes in asset services, including market making and asset monetization across diverse sectors.
Heritage Global Inc. (NASDAQ: HGBL) appointed Shirley S. Cho to its board of directors effective December 20, 2021, replacing Brendan Ryan. Ms. Cho brings over 20 years of legal experience in restructuring and bankruptcy, having advised multiple major companies. She will also serve on the Compensation Committee. CEO Ross Dove and Chairman Sam Shimer expressed confidence in her contributions to the Company's growth in industrial and financial asset transactions.
Heritage Global Partners has announced an online auction for surplus assets from Molded Fiber Glass Companies, set to run from December 14 to December 15, 2021. The auction will include high-value items such as straddle carriers and overhead bridge cranes, with a new cost listed at $1.5 million for certain equipment. This event is expected to attract significant buyer interest, as emphasized by Senior VP Matt DelGuidice. The auction details are available on their website.
Heritage Global Inc. (NASDAQ:HGBL) reported its Q3 2021 financial results, revealing a net income decrease to $0.5 million from $1.3 million in Q3 2020. Operating income dropped from $1.6 million to $0.5 million year-over-year. Despite lower asset flow, the company noted improvement in its Industrial Assets Division, with operating income rising to $0.7 million from $0.4 million in Q2. An acquisition of American Laboratory Trading was highlighted as a strategic move to enhance service offerings. The company remains optimistic about future asset flows.
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