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Earnings Call Summary | Live Ventures(LIVE.US) Q2 2024 Earnings Conference

moomoo AI ·  May 14 01:23  · Conference Call

The following is a summary of the Live Ventures Incorporated (LIVE) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Live Ventures reported a substantial Q2 revenue increase of 30.2% ($118.6 million), significantly impacted by new acquisitions (PMW, Flooring Liquidators) adding $29.6 million in revenue.

  • Gross profit for the quarter was up at $35.5 million, though the gross margin percentage declined to 29.9% due to new acquisitions and shrinking margins in the Steel Manufacturing segment.

  • Q2 experienced a net loss of approximately $3.3 million, with a loss per share of $1.04, inversely affected by operating losses and increased interest expenses.

Business Progress:

  • Significant progress was highlighted by the acquisitions of PMW and Flooring Liquidators, delivering a substantial contribution to revenue growth.

  • The company accomplished share repurchases during the quarter, acquiring 11,849 shares of common stock.

  • Long-term strategy remains steadfast with a buy-build-hold focus, despite prevailing market challenges, reinforcing the commitment to sustainable growth and value creation.

More details: Live Ventures IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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