Live Ventures Misses Expectations in Q3, Saw Higher Costs
Portfolio Pulse from Anusuya Lahiri
Live Ventures Inc reported Q3 FY23 sales growth of 34.1% Y/Y to $91.5 million, missing the consensus of $98.0 million. The company saw a decrease in revenues in the Retail Entertainment and Flooring Manufacturing segments due to reduced demand, but an increase in the Steel Manufacturing Segment due to the acquisition of Kinetic. EPS of $0.33 missed the consensus of $1.15. The company attributed the decrease in operating income to lower revenues and higher costs. Adjusted EBITDA increased 8.3% to $9.6 million, primarily due to acquisitions.
August 10, 2023 | 1:34 pm
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Live Ventures reported lower than expected Q3 FY23 sales and EPS. The company saw decreased revenues in some segments but increased revenues in the Steel Manufacturing Segment due to the acquisition of Kinetic.
Live Ventures reported lower than expected sales and EPS for Q3 FY23, which could negatively impact the stock price. The company saw decreased revenues in the Retail Entertainment and Flooring Manufacturing segments due to reduced demand, but increased revenues in the Steel Manufacturing Segment due to the acquisition of Kinetic. The company's operating income decreased due to lower revenues and higher costs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100