Live Ventures Q3 revenue up 34% to $91.5M, net income falls 69% to $1.1M; acquires Precision Metal Works for $28M

LIVE VENTURES Inc

2023-Q3 EPS reported $1.42 revenue$251,624,000

Revenue $91.5M (+34.1% YoY) driven by Flooring Liquidators and Kinetic acquisitions; organic decline elsewhere.
Net income $1.1M ($0.33 diluted EPS) vs $3.5M ($1.11) a year ago; down 69.5% on lower operating income and higher interest.
Adjusted EBITDA $9.6M (+8.3% YoY); acquired Precision Metal Works post-quarter for $28M, adding ~$75M annual revenue.
Steel Manufacturing operating income up 113% to $2.7M; Flooring Manufacturing down 38.5% to $2.0M.
Ended quarter with $32.3M in cash and credit availability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LIVE VENTURES Inc reported fiscal third quarter ended June 30, 2023 results: revenue $91.5 million, net income $1.1 million, EPS $0.33 per diluted share.

Period: fiscal third quarter ended June 30, 2023
Revenue: $91.5 million
Net income: $1.1 million
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

Live Ventures Reports Fiscal Third Quarter 2023 Financial Results LAS VEGAS, August 10, 2023 -- Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today announced financial results for its fiscal third quarter ended June 30, 2023. Fiscal Third Quarter 2023 Key Highlights: • Revenues were $91.5 million, as compared with $68.3 million, an increase of 34.1% over the prior year period • Net income was $1.1 million and diluted earnings per share (“EPS”) were $0.33, as compared with $3.5 million and diluted EPS of $1.11 in the prior year period

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Source: SEC EDGAR

accession 0001628280-23-028745

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