Live Ventures Post 30% Hike In Q2 Sales As Acquisitions Boost
Portfolio Pulse from Shivani Kumaresan
Live Ventures Inc (NASDAQ:LIVE) reported a 30.2% increase in Q2 FY24 sales to $118.626 million, surpassing analyst expectations due to acquisitions of Flooring Liquidators and Precision Metal Works. Despite the sales growth, the company faced a decrease in operating income and a significant drop in adjusted EBITDA, primarily due to inefficiencies in the Retail-Flooring segment. EPS was $(1.04), missing estimates. The company also repurchased shares and highlighted its commitment to adapting to market changes.
May 13, 2024 | 2:38 pm
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Live Ventures reported a significant sales increase due to strategic acquisitions but faced a decrease in operating income and missed EPS estimates. The company's commitment to overcoming industry headwinds and operational efficiency improvements may influence investor sentiment.
The positive sales growth due to acquisitions is offset by the operational losses and missed EPS estimates. The stock's slight increase indicates mixed investor sentiment, balancing optimism with caution regarding the company's future profitability and operational efficiency.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100