Welcome to our dedicated page for Liquidity Svcs news (Ticker: LQDT), a resource for investors and traders seeking the latest updates and insights on Liquidity Svcs stock.
Liquidity Services Inc (NASDAQ: LQDT) maintains its position as a leader in surplus asset management through innovative online auction platforms. This news hub provides investors and industry professionals with essential updates about the company's marketplace operations, sustainability initiatives, and strategic developments.
Access real-time information about earnings announcements, partnership agreements, and technological advancements across LQDT's key segments including GovDeals and Retail Supply Chain Group. Our curated collection ensures you never miss critical updates about this circular economy enabler's role in transforming asset recovery markets.
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The State of Kansas is now utilizing GovDeals.com, an online auction marketplace, to auction surplus property, expanding its reach beyond local buyers to a global audience of over 3.6 million potential bidders. Previously, surplus items were sold at a set price locally, but this change allows for competitive bidding, increasing potential revenue. Auctions will continue periodically, with current available items including vehicles and various surplus goods.
Bidder registration is available at GovDeals.com/Register, and auctions are open to the public until September 16, 2020.
Liquidity Services announced an online auction in collaboration with Tiger Group and Perry Videx, featuring assets from PharMEDium's syringe-filling and sterile drug compounding plants located in Tennessee and Texas. The auction includes over 1,900 assets, with bidding closing on August 18-19 for Tennessee assets and August 26 for Texas assets. Key assets include R+D Automation Syringe Filling Lines and laboratory equipment. Nick Jimenez emphasized the unique opportunity for buyers in the laboratory and manufacturing sectors.
Liquidity Services reported its Q3 fiscal year 2020 results, revealing a GMV of $130.1 million and GAAP revenue of $47.7 million. Despite a significant decline in GMV and revenue compared to the previous year, the company achieved a GAAP net income of $0.2 million. The RSCG segment saw a 14% growth in GMV, while GovDeals and CAG segments faced declines of 36% and 18%, respectively. The introduction of their consolidated marketplace, AllSurplus.com, resulted in a 148% increase in buyer registrations. The company's cash position improved to $72.7 million with zero debt.
Liquidity Services (NASDAQ:LQDT) will release its third quarter fiscal results for 2020 on August 6, 2020, at 10:30 a.m. Eastern Time. The results will cover the period ending June 30, 2020, and will precede the market open. Bill Angrick, Chairman and CEO, along with Jorge Celaya, EVP and CFO, will host the earnings call. Interested parties can join the teleconference by dialing (888) 771-4371, using conference ID 49857730, or listening via a live webcast on their investor relations website.
Liquidity Services (NASDAQ: LQDT) announces significant growth in its AllSurplus marketplace, particularly in the heavy equipment sales channel, showcasing over 100 assets available for bid in July 2020. The monthly sales event features popular equipment like excavators and trucks, with bidding open until July 29. Michael Smith, senior director, emphasized this event as their largest to date. AllSurplus aims to simplify the purchasing process for buyers, offering lower costs compared to new equipment. Currently, the platform has over 13,000 assets for sale across various sectors.
BETHESDA, Md., June 16, 2020 – Liquidity Services (NASDAQ: LQDT) partners with FSC Holdings to auction excess inventory across 20 categories, including Electrical Parts and Tools. The auction is hosted on AllSurplus with bidding open until June 23, 2020. Fairmont Supply, a subsidiary of FSC Holdings, is a leading distributor of MRO supplies and has served over 5,000 customers with 27 distribution centers.
Liquidity Services (NASDAQ: LQDT) continues to strengthen its partnership with Tiger Capital Group to assist in the turbulent oil and gas market. With over $50 billion cut from industry budgets, the companies aim to support insolvency professionals by facilitating online auctions of distressed energy assets. Despite market challenges, demand for surplus equipment is increasing, providing liquidity to sellers in need of cash. The Tiger Liquidity Services Energy Partners (TLSEP) has a strong track record of selling oil and gas equipment, benefiting various stakeholders in the industry.
On June 9, 2020, Liquidity Services (NASDAQ: LQDT) announced the launch of its new marketplace, AllSurplus, featuring a June Construction Fleet Sale with around 50 heavy equipment assets available for bidding until June 17, 2020. The sale includes bulldozers, wheel loaders, cranes, and extended cab trucks, providing buyers with cost-effective options compared to new purchases. Liquidity Services operates over 11,000 assets in its marketplace, showcasing detailed asset descriptions and inspection reports, enhancing the purchasing experience.
Liquidity Services (NASDAQ: LQDT) has announced the sale of surplus assets from the Savannah River Site, located in Barnwell, South Carolina. Partnering with AW Properties Global and PPL Group, the company will auction approximately 450,000 items on AllSurplus.com, open for bidding until June 18, 2020. The assets, being sold due to project cancellation, include top nuclear-grade equipment suitable for general manufacturing. Featured items comprise lots of power generation equipment, HVAC systems, and construction components. Buyers can also make offers outside of auction events.
