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 (NASDAQ:LQDT) announced it will report its Q2 fiscal year 2023 results before the market opens on May 4, 2023. Following the results, a conference call will be held at 10:30 AM Eastern Time, led by Bill Angrick, Chairman and CEO, and Jorge Celaya, EVP and CFO. Interested parties can register for the call or listen to a live webcast via the company's investor relations site. A replay of the webcast will be available until May 4, 2024.
Liquidity Services expands its consumer marketplace with the launch of AllSurplus Deals in Cincinnati, following the successful opening in Phoenix. This initiative aims to offer consumers extreme bargains on returned and overstock items, promoting sustainability by reducing waste. The marketplace features products up to 90% off retail prices and adds new deals daily. With a 100,000-square-foot warehouse, the Cincinnati location can store over one million items. The launch reflects high consumer demand in the area and supports budget-conscious shoppers while contributing to a more sustainable economy.
Liquidity Services (NASDAQ:LQDT) has partnered with Aaron Industrial Solutions (AIS) to auction unused components from a Linde Engineering ethylene plant. This sale, facilitated through AllSurplus.com, spans 17 countries and aims to maximize recovery value for Linde. With a capacity of producing 1.5 million tons of ethylene annually, the auction includes various industrial assets at prices below market value, addressing supply chain delays. The first offerings are now available for bidding.
Elk County, PA, transitions to virtual foreclosure sales to enhance buyer participation and efficiency. Bid4Assets, a prominent online marketplace, successfully hosted the first mortgage foreclosure sale on January 19, 2023. This move is aimed at increasing accessibility for bidders, reducing costs, and generating higher net returns for the county. A residential property sold for $27,500 during the auction, with future sales anticipated. Bid4Assets has effectively managed similar transitions in multiple Pennsylvania counties, resulting in a 50% to 100% increase in third-party sales. The initiative supports local homeowners while promoting technological advancements in public service.
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