Business
Heritage Global Inc. Reports Second Quarter 2024 Results
Company Reports Operating Income of $3.5 Million SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”),
About this update from Heritage Global Inc.
[{"type":"text","content":"\nCompany Reports Operating Income of $3.5 Million\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nHeritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today reported financial results for the second quarter and six months ended June 30, 2024.\n\n\nSecond Quarter and First Six Months 2024 Summary of Financial Results (unaudited):\n\n\n\n\n($ in thousands, except per share amounts)\n\n\n\n\n\n\nThree Months Ended\n\n\n\n\nJune 30,\n\n\n\n\n\n\nSix Months Ended\n\n\n\n\nJune 30,\n\n\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,544\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,101\n\n\n\n\n\n \n\n$\n\n\n\n\n\n\n6,102\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n6,995\n\n\n\n\n\n \n\n\n\nNet income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,497\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n2,779\n\n\n\n\n\n \n\n$\n\n\n\n\n\n\n4,296\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n5,608\n\n\n\n\n\n \n\n\n\nNet income per share – diluted\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.07\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.07\n\n\n\n\n\n \n\n$\n\n\n\n\n\n\n0.12\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.15\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n(Non-GAAP Financial Measures) (1)\n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n \n\n \n\n\n\n\n\n\n \n\n\n\n\n\n \n\n\n\nEBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,691\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,222\n\n\n\n\n\n \n\n$\n\n\n\n\n\n\n6,390\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n7,236\n\n\n\n\n\n \n\n\n\nAdjusted EBITDA\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,981\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,450\n\n\n\n\n\n \n\n$\n\n\n\n\n\n\n6,908\n\n\n\n\n\n \n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n7,643\n\n\n\n\n\n \n\n\n\n(1)\n\n\nEBITDA and Adjusted EBITDA are commonly used non-GAAP financial measures utilized by management as a supplemental tool to evaluate the underlying operating performance of the Company on an ongoing basis and should be considered together with Heritage Global’s GAAP financial measures. Definitions and disclosures regarding non-...