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Heritage Global Inc (HGBL)
NASDAQ:HGBL
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Earnings Data
Report Date
Mar 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.06Last Year’s EPS
$0.13Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 2.94%
|Next Earnings Date:Mar 17, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were significant improvements in balance sheet strength and strategic growth opportunities in the auction and brokerage segments, the company faced setbacks in industrial income and lending challenges. The sentiment is cautiously optimistic with a focus on future growth potential.Company Guidance
During Heritage Global Inc.'s Q3 2024 earnings call, the executives provided guidance indicating a positive outlook despite a "blah" quarter with $1.5 million in net operating profit and $2 million in EBITDA cash flow. The company's industrial M&A activity is on the rise, with significant transactions anticipated within the next 12 months. Financially, the firm repaid a $5.7 million term loan and repurchased 600,000 shares, with an expanded repurchase program allowing up to $6 million through June 2025. The Specialty Lending segment saw a cautious approach, focusing on more performing loans amid declining prices for charged-off portfolios. The Industrial Assets division reported $700,000 in operating income, down from $2.1 million the previous year, due to a lack of larger auctions. Conversely, the Financial Assets division achieved $1.8 million in operating income. Consolidated net income stood at $1.1 million, or $0.03 per diluted share. The company remains optimistic about leveraging capital for strategic growth, especially in light of industry consolidation opportunities.Balance Sheet Strengthening
Heritage Global Inc. fully paid down its term loan of approximately $5.7 million and repurchased roughly 600,000 shares in the open market during the third quarter. The Board approved an amendment to the repurchase program, increasing it to $6 million.
Strong Pipeline and Growth Prospects
The company is experiencing increased industrial M&A activity with more transactions on the horizon. There’s a strategic positioning to capitalize on industry consolidation, particularly in the auction and brokerage segments.
Expansion in Financial Assets
The company is seeing more first-time clients becoming sellers, indicating a potential for growth in the Financial Assets division due to ongoing consumer spending and credit charge-offs.
Stockholders' Equity Growth
Stockholders' equity increased to $66.1 million as of September 30, 2024, up from $61.1 million at the end of 2023.
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HGBL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HGBL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $1.70 | $1.63 | -4.12% |
| Aug 08, 2024 | $2.31 | $1.92 | -16.88% |
| May 09, 2024 | $2.48 | $2.29 | -7.66% |
| Mar 14, 2024 | $3.00 | $2.94 | -2.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Heritage Global Inc (HGBL) report earnings?
Heritage Global Inc (HGBL) is schdueled to report earning on Mar 17, 2025, TBA Not Confirmed.
What is Heritage Global Inc (HGBL) earnings time?
Heritage Global Inc (HGBL) earnings time is at Mar 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HGBL EPS forecast?
HGBL EPS forecast for the fiscal quarter 2024 (Q4) is $0.06.
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