Heritage Global Inc. (HGBL) Q2 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to Heritage Global Inc. Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ross Stubb, Chief Executive Officer. Thank you. You may begin. Thank you and good afternoon, everyone. Before we begin, I'd like to remind everyone that this conference call contains forward-looking statements based on our current expectations and projections about future events and are subject to change based on various important factors. In light of these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as a date of this call. For more details and factors that could affect these expectations, please see our filings with the Securities and Exchange Commission. Now I'd like to turn the call over to Heritage Global's Chief Executive Officer, Mr. Ross Duff. Go ahead, Ross. Thank you, John. Good afternoon, everyone. Thank you all for joining. Welcome to our 2023 second quarter earnings conference call. Today we'll start the call with Brian Cobb, our CFO. Brian, go ahead. You're up. Thanks, Ross. We are pleased to reach the halfway point of 2023 with a record $7 million in operating income. Our solid second quarter results included operating income of $3.1 million, earnings of $0.07 per diluted share, and EBITDA of $3.2 million. Both our financial assets and industrial assets division are continuing to see tremendous opportunities in the marketplace as the current economic situation ...