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 reported its fiscal year 2022 results, showing revenues of $286.9 million, up from $273.0 million in 2021. However, adjusted EBITDA fell to $38.4 million, down 13.8% year-over-year, and net income dropped 20.7% to $24.7 million. The diluted EPS for the year decreased 20.0% to $7.84. In Q4, revenues reached $73.8 million, a 4.6% increase from the prior year, but it reported a net loss of $0.6 million due to a $4.9 million impairment charge. The company aims to enhance operations and long-term stockholder value.
Live Ventures Incorporated (NASDAQ: LIVE) will announce its financial results for the fiscal fourth quarter and full year ending September 30, 2022, on December 15, 2022, before NASDAQ opens. A conference call to discuss these results is scheduled for the same day at 2:00 p.m. PT. The company is a diversified holding firm focusing on value-oriented acquisitions in various sectors, aiming to enhance shareholder value through a disciplined buy-build-hold strategy.
Live Ventures Incorporated (Nasdaq: LIVE) reported Q3 FY 2022 revenue of $68.3 million, a 1.2% decrease year-over-year, driven by declines in Retail and Flooring Manufacturing segments. Net income fell to $3.5 million (down 65.1%), with diluted EPS at $1.11, a 63.2% decrease. Adjusted EBITDA was $8.8 million, down 9.5%. Notably, the Steel Manufacturing segment grew 15.0% due to price increases. The company acquired The Kinetic Co., Inc. and repurchased shares worth $23.31 each, maintaining a strong cash position of $35.6 million.
Live Ventures (NASDAQ: LIVE) will release its fiscal Q3 2022 financial results on August 11, 2022, before the NASDAQ opens. A conference call to discuss these results is scheduled for the same day at 2:00 p.m. PT. Interested parties can access the call by dialing 800.267.6316 for U.S. or +1.203.518.9783 for international callers. Live Ventures focuses on acquiring middle-market companies across diverse sectors, aiming to enhance shareholder value through a disciplined buy-build-hold strategy.
Live Ventures has acquired The Kinetic Co., a 74-year-old manufacturer of industrial knives, for approximately $26 million. The acquisition will bolster Live Ventures' steel manufacturing segment, expected to increase annual revenues by around $20 million. Kinetic will continue to operate independently, retaining its brand identity and operational structure. The transaction was financed through a mix of bank and seller debt, a sale-leaseback of real estate, and cash. Live Ventures aims to leverage Kinetic's established reputation and expertise to further enhance shareholder value.
Live Ventures Incorporated (Nasdaq: LIVE) reported its fiscal second quarter results for 2022, revealing a 1.7% decline in revenue to $69.7 million. Despite this, net income rose 75.8% to $15.4 million, resulting in a diluted EPS of $4.84, up 82.0%. The company gained $11.4 million from the bankruptcy settlement of ApplianceSmart. However, Adjusted EBITDA decreased by 23.0% to $10.3 million. Cash availability stood at $38.0 million, with total assets increasing by 6.4% to $225.3 million.
Live Ventures Incorporated (NASDAQ: LIVE) will release its financial results for the fiscal second quarter ending March 31, 2022, on May 11, 2022, before NASDAQ opens. The company operates as a diversified holding firm focused on acquiring middle-market companies across various sectors. Under CEO Jon Isaac's leadership since 2011, Live Ventures has shifted its strategy toward sustainable growth by partnering with management teams to enhance stockholder value.
Live Ventures Incorporated (Nasdaq: LIVE) announced the repurchase of 65,668 shares of its common stock at an average price of $31.72 during Q2 fiscal 2022, ending March 31, 2022. This aligns with the company's strategic focus on maximizing stockholder value through business acquisitions and internal initiatives. Since launching a $10 million stock repurchase plan in February 2018, Live Ventures has repurchased 484,138 shares for approximately $5.4 million, at an average price of $11.06, with $4.6 million remaining for future buybacks.
Live Ventures Incorporated (Nasdaq: LIVE) reported robust Q1 FY2022 financial results, showing a 20.3% increase in revenues at $75.2 million and a 24.0% rise in gross profit to $27.6 million. Operating income surged 42.7% to $10.4 million, while net income rose 24.0% to $6.5 million. The company’s adjusted EBITDA improved by 21.9% to $12.1 million. Earnings per share also increased significantly, with basic EPS at $4.14 and diluted EPS at $2.04. Total assets reached $219.0 million, bolstered by approximately $38.8 million in cash and availability under credit facilities.
Live Ventures Incorporated (NASDAQ: LIVE) announced it will release its financial results for Q1 ended December 31, 2021, on February 10, 2022, at 2:00 p.m. PT. The call will provide insights into the Company's performance and include a Q&A session. Interested listeners can join by dialing (800) 459-5081 for U.S. participants or +1 (785) 424-1249 for international callers. Live Ventures is a diversified holding company focused on acquiring well-managed middle-market firms across various sectors, including textiles, financial services, and entertainment.
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