Welcome to our dedicated page for Live Ventures news (Ticker: LIVE), a resource for investors and traders seeking the latest updates and insights on Live Ventures stock.
Live Ventures Inc (NASDAQ: LIVE) is a diversified holding company focused on acquiring and managing profitable, stable, and growing companies across various industries. Established in 1968 as Nuclear Corporation of New Mexico, the company has undergone significant transformations, including a rebranding from LiveDeal, Inc. in 2011 under the strategic leadership of CEO Jon Isaac.
Live Ventures' core business segments include:
- Retail: This segment involves direct sales of entertainment products, appliances, and services through its subsidiary Vintage Stock, which operates 72 retail stores and a comprehensive e-commerce platform.
- Flooring Manufacturing: The company produces carpets, rugs, and yarn products, and resells hard surface flooring products through brands under Harris Flooring Group.
- Steel Manufacturing: Live Ventures manufactures and sells steel products such as plates, ground flat stock, and drill rods through its acquired subsidiaries, including Precision Metal Works and The Kinetic Co., Inc.
- Corporate and Other: This segment includes various corporate functions and other smaller business operations.
Recent achievements include the strategic acquisitions of Flooring Liquidators and Precision Metal Works, significantly boosting revenue. In the fiscal first quarter of 2024, Live Ventures reported a 70.5% increase in revenue, driven primarily by these acquisitions. However, the company faced challenges with lower profit margins and higher administrative expenses, resulting in a net loss of approximately $0.7 million for the quarter.
Live Ventures continues to execute its 'buy-build-hold' strategy, aiming for long-term value creation through disciplined acquisitions and operational improvements. The company maintains strong relationships with high-profile customers, particularly in the data and telecommunications sectors, positioning itself for sustained growth despite industry-specific pressures.
For more information, visit the Live Ventures Inc. website.
Live Ventures (NASDAQ: LIVE) reported fiscal year 2024 results with revenue increasing 33.1% to $472.8 million, driven by strategic acquisitions of Flooring Liquidators, PMW, and Central Steel. Despite revenue growth, the company posted a net loss of $26.7 million ($8.48 per share), compared to a $0.1 million loss in 2023. The loss includes an $18.1 million goodwill impairment charge in the Retail-Flooring segment.
Adjusted EBITDA decreased 22.3% to $24.5 million. The company maintained strong liquidity with $33.3 million in total cash availability. Challenging market conditions in Retail-Flooring and Steel Manufacturing segments negatively impacted operating results, with operating loss at $13.6 million compared to operating income of $15.4 million in the prior year.
Live Ventures (NASDAQ: LIVE) announced it will release its fiscal year 2024 financial results before market opening on Thursday, December 12, 2024. The company will host an earnings conference call on the same day at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern Standard Time).
Investors can access the call using the following dial-in numbers: 800.231.0316 (U.S.) or +1.314.696.0504 (International). A recording of the discussion will be available on the company's investor relations website after the call.
Live Ventures (Nasdaq: LIVE) reported fiscal Q3 2024 results with revenue up 35.4% to $123.9 million, driven by acquisitions and growth in flooring segments. However, the company posted a net loss of $2.9 million ($0.91 per share) compared to net income of $1.1 million in Q3 2023. Adjusted EBITDA decreased 36.1% to $6.1 million.
Key highlights include:
- Total assets of $436.8 million and stockholders' equity of $92.7 million
- $34.4 million in cash and credit availability
- Retail-Flooring revenue up 34.7% to $37.0 million
- Steel Manufacturing revenue up 112.1% to $39.0 million
The company faced headwinds from elevated interest rates and integration costs from recent acquisitions, impacting profitability despite top-line growth.
Live Ventures Incorporated (NASDAQ: LIVE), a diversified holding company, has announced it will release its fiscal third quarter 2024 financial results on Thursday, August 8, 2024, before the market opens. The company will host an earnings conference call on the same day at 2:00 p.m. Pacific Daylight Time (5:00 p.m. Eastern Daylight Time) to discuss the results.
Investors and interested parties can join the call using the following dial-in numbers:
- U.S.: 800.231.0316
- International: +1.314.696.0504
Participants are advised to dial in at least 15 minutes before the call starts. A recording of the discussion will be available on the "Investor Relations" page of the Live Ventures website after the call.
Live Ventures announced that its subsidiary, Flooring Liquidators, has opened a 60,000 sq. ft. store in Springfield, Missouri—its largest yet. This new location will also function as a distribution center for future Midwest stores and Gary’s Floor and Home stores in Arkansas. The store offers a variety of flooring options, including laminate, carpet, hardwood, natural stone, ceramic tile, and luxury vinyl tile, as well as quality countertops. Steve Kellogg, CEO of Flooring Liquidators, highlighted the overwhelming response from customers and the company's commitment to an exceptional shopping experience.
Live Ventures has announced a new $10 million common stock repurchase program, which replaces the previous one that expired on June 1, 2024. The program will remain in effect until May 31, 2025, unless the Board of Directors decides otherwise. Under the program, shares can be repurchased at management's discretion through various methods including open market transactions and privately negotiated deals. CEO Jon Isaac stated that the program reflects confidence in the company's long-term growth and a commitment to stockholder value. Live Ventures, a diversified holding company, focuses on acquiring domestic middle-market companies with strong earnings and cash flow. Their portfolio spans textiles, flooring, tools, steel, and entertainment industries.
Live Ventures (Nasdaq: LIVE) announced the acquisition of Central Steel Fabricators (CSF), a Chicago-based manufacturer specializing in data center and communications industry products. CSF, in operation since 1969, offers over 2,300 unique products to more than 500 clients, including major contractors and engineering firms. This acquisition aligns with Live Ventures' strategy to enhance its steel manufacturing operations. The addition of CSF is expected to capitalize on the growing demand for AI and data centers, driven by major corporate investments in these sectors. This move is anticipated to provide significant growth and development opportunities for Live Ventures.
Live Ventures Incorporated reported financial results for the second fiscal quarter of 2024, with revenue increasing by 30.2% to $118.6 million. However, the net loss was $3.3 million, resulting in a diluted loss per share of $1.04. Adjusted EBITDA was $4.5 million, compared to $9.2 million in the prior year period. The company repurchased 11,849 shares of common stock and had total assets of $433.9 million as of March 31, 2024. Live Ventures remains confident in its long-term strategy despite industry challenges.
Live Ventures Incorporated (NASDAQ: LIVE) will release its financial results for the fiscal second quarter of 2024 on May 13, 2024. The company will hold an earnings conference call on the same day to discuss these results. Investors can access the call via dial-in numbers provided in the press release. A recording of the discussion will be available on the Investor Relations page of the Live Ventures website.
LL Flooring Holdings, Inc. provided an update on its strategic alternatives review process, including a non-binding proposal to acquire all outstanding shares for $2.50 per share. The Board is in negotiations but has not accepted the proposal. The Company is committed to a fair process for all interested parties. Additionally, LL Flooring entered into a cooperation agreement with Live Ventures and Isaac Capital Group regarding director nominations and voting at the upcoming Annual Meeting of Stockholders on July 10, 2024.
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