Business
Live Ventures Reports Fiscal Second Quarter 2026 Financial Results
LAS VEGAS, May 14, 2026 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today
About this update from Live Ventures Incorporated
[{"type":"text","content":"LAS VEGAS, May 14, 2026 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today announced financial results for its fiscal second quarter ended March 31, 2026. Fiscal Second Quarter 2026 Key Highlights: Revenue was $102.9 million, compared to $107.0 million in the prior-year periodGross margin increased 80 basis points to 33.6%, compared to 32.8% in the prior-year periodOperating loss was $2.0 million, compared to operating income of $2.1 million in the prior-year period. Excluding a non-cash goodwill impairment charge of approximately $4.0 million in the Steel Manufacturing segment, the fiscal second quarter 2026 operating income would have been approximately $2.0 million Net loss was $2.4 million and diluted loss per share was $0.80, compared to net income of $15.9 million and diluted earnings per share (“EPS”) of $5.05 in the prior-year period. Current-year period results include a non-cash goodwill impairment charge of approximately $4.0 million in the Steel Manufacturing segment and a $1.4 million gain on Employee Retention Credits in the Retail-Flooring segment.Prior-year period results benefited from a $22.8 million gain related to the modification of the Flooring Liquidators, Inc. (“Flooring Liquidators”) seller note Adjusted EBITDA¹ was $5.9 million, compared to $6.4 million in the prior-year periodTotal assets were $392.5 million, and stockholders’ equity was $92.9 million as of March 31, 2026Approximately $39.8 million in cash and availability under the Company’s credit facilities as of March 31, 2026 “Our Retail-Entertainment and Flooring Manufacturing segments delivered strong operating income growth of 32.8% and 24.0%, respectively. These gains were offset by continued macroeconomic headwinds in the new-home construction and home-refurbishment markets, which negatively impacted our Retail-Flooring segment, as well as by a non-cash goodwill impairment charge of approximately $4.0 million in our Steel Manufacturing segment. Consolidated operating income before the non-cash goodwill charge would have been approximately $2.0 million, essentially in line with the prior-year period,” said David Verret, Chief Financial Officer of Live Ventures. “This quarter demonstrated both the resilience of our business model and the ongoing challenges in th...