Welcome to our dedicated page for Liquidity Services news (Ticker: LQDT), a resource for investors and traders seeking the latest updates and insights on Liquidity Services stock.
Liquidity Services, Inc. (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets. With more than $10 billion in completed transactions, the platform connects over five million qualified buyers with 15,000 corporate and government sellers globally. Headquartered in Orlando, Florida, the company specializes in managing and selling inventory and equipment through a comprehensive network of online auction marketplaces.
Liquidity Services is divided into four main segments:
- GovDeals: Facilitates the sale of surplus assets for government entities.
- Capital Assets Group (CAG): Manages sales of capital assets for businesses.
- Retail Supply Chain Group (RSCG): Focuses on selling excess, returned, and overstocked consumer goods, primarily in the U.S. and Canada.
- Machinio: Provides a global online platform for buying and selling machinery and equipment.
The company's recent acquisition of Sierra Auction, a leading auction outlet in the southwestern U.S., enhances its capabilities in vehicle, equipment, and surplus asset sales. Liquidity Services supports sustainability by helping extend the life of assets, reduce waste, and minimize carbon emissions. With significant strides in mobile commerce, the company continues to expand its digital reach and market presence.
In Q1-FY24, Liquidity Services reported robust financials, with expected GMV ranging from $320 million to $350 million. The company aims to maintain its leadership by integrating acquired businesses and advancing online auction legislation for state and local governments. The firm's forward-looking approach includes focusing on mobile commerce and environmental impacts, ensuring long-term growth and value for its stakeholders.
Liquidity Services reported Q1-FY21 results with a GMV of $190.4 million, up 28% year-over-year. GAAP revenue reached $55.8 million, marking a 13% increase, while GAAP net income was $4.5 million, compared to a loss of $5.2 million last year. Non-GAAP Adjusted EBITDA stood at $8.8 million, a significant improvement from a loss of $2.1 million. The GovDeals segment saw GMV growth of 36%, and the Retail Supply Chain Group grew 30%. Liquidity Services continues to focus on technology-driven efficiencies to support a growing trend towards digital solutions.
Erie County, PA will host its first virtual Judicial Real Estate Tax Sale, featuring over 100 residential properties. This two-day sale will occur from February 10 to 11, 2021, on GovDeals.com. Properties listed have accumulated delinquent taxes and will be sold free of claims and liens. Starting bids are as low as $1,000, attracting investors. Bidders must register by February 9 and submit required documentation to participate. Current owners have until February 10 to pay delinquent taxes to avoid sale.
Liquidity Services (NASDAQ:LQDT) announces the sale of two unused Hydrocracker Reactors fabricated by Kobe Steel Japan in 2010. These reactors, designed for producing Jet Fuel, Diesel Fuel, Gasoline, Kerosene, and Naphtha, are available through an online auction starting January 13, 2021. The reactors are offered at a significantly lower price compared to new units and can expedite production upgrade timelines for oil refineries. Included in the sale are all necessary supporting components and technical documentation, allowing for immediate operational setup.
Liquidity Services (NASDAQ:LQDT) will publish its first quarter fiscal year 2021 results on February 4, 2021, at 10:30 a.m. ET. The earnings report will cover the period ending December 31, 2020. CEO Bill Angrick and CFO Jorge Celaya will discuss the results in a teleconference accessible via phone and live webcast. Investors can dial in at (888) 771-4371 or (847) 585-4405 using conference ID 50053903. The earnings call will also be available for replay afterward on the company's investor relations website.
Liquidity Services continues to enhance its online marketplace, AllSurplus, with an auction featuring classic vehicles, including a 1937 Ford Coupe Phantom, a 1931 Model A Sedan, and a 2015 Factory Five 1933 Replica Roadster. The auction runs until December 16, 2020. AllSurplus offers over 500 categories for buyers, enhancing access to surplus business assets.
Liquidity Services (NASDAQ: LQDT) reported its Q4 FY20 results, showcasing a consolidated GMV of $196.9 million, a 25% year-over-year growth, despite GAAP revenue dropping to $55.9 million from $58.8 million. The company achieved a GAAP net income of $5.4 million and GAAP EPS of $0.16. The Non-GAAP Adjusted EBITDA improved by $9.0 million. Their GovDeals segment saw GMV growth of 35%, while RSCG grew by 33%. Although the Capital Assets Group GMV declined by 8% due to expiring contracts, overall performance was bolstered by improving margins and effective digital solutions.
Liquidity Services (NASDAQ:LQDT) will report its fourth quarter and fiscal year 2020 results on December 8, 2020, at 10:30 a.m. ET. The earnings press release will be distributed prior to the market opening. Bill Angrick, Chairman and CEO, along with Jorge Celaya, EVP and CFO, will host the earnings call. Interested parties can access the teleconference at (888) 771-4371 or via a live webcast on the company's investor relations site. Liquidity Services is a leader in e-commerce marketplace solutions, managing over $8 billion in transactions across global markets.
The State of Washington has announced the auction of a fully operational 1980 Westport Blanchard Boat, starting at $190,000. Bidding will remain open until November 16, 2020, and interested parties must register on GovDeals.com. The boat features living quarters and is equipped for fishing. It is maintained by the Washington Department of Fish and Wildlife and includes advanced navigational electronics. Buyers will receive a notarized 'Affidavit of Loss / Release of Interest' to facilitate ownership transfer.
Flagler County is auctioning 65 acres of undeveloped land in Palm Coast, zoned for commercial and retail use. The auction is hosted on GovDeals and bids are open until November 6, 2020. The site permits 80,000 ft² of office space and 85,000 ft² of retail space, near Advent Health Hospital with access to Interstate 95. The land is part of the Innovation District, designated an Opportunity Zone, and is included in the Innovation Kick Start Program to boost local development. Buyers can register at GovDeals.com for property inspection and bidding.
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