Liquidity Services (LQDT) Tops Q2 EPS by 2c, Miss on Revenues; Weak Q3 EPS Guidance

Liquidity Services (NASDAQ: LQDT) reported Q2 EPS of ($0.21), $0.02 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $72.3 million versus the consensus estimate of $81.14 million.

GUIDANCE:

Liquidity Services sees Q3 2017 EPS of ($0.29)-($0.19), versus the consensus of ($0.10).

For Q3-17 our guidance is as follows:

GMV – We expect GMV for Q3-17 to range from $170 million to $190 million.

GAAP Net Loss – We expect GAAP Net Loss for Q3-17 to range from $(10.0) million to $(7.) million.

GAAP Diluted EPS - We expect GAAP diluted Loss Per Share for Q3-17 to range from $(0.32) to $(0.22).

Non-GAAP Adjusted EBITDA –We expect non-GAAP Adjusted EBITDA for Q3-17 to range from $(7.0) million to $(4.0) million.

Non-GAAP Adjusted Diluted EPS – We expect non-GAAP Adjusted Loss Per Diluted Share for Q3-17 to range from $(0.29) to $(0.19). This guidance assumes that our diluted weighted average number of shares outstanding for the quarter of 31.4 million and that we will not repurchase shares during the quarter with the approximately $10.1 million available under the share repurchase program.

Second Quarter Fiscal Year 2017 Financial Results

• GMV of $163.7 million, up from $153.0 million in the prior year
• Revenue of $72.3 million, down from $86.9 million in the prior year
• GAAP Net Loss of $(8.3) million, down from $(0.9) million in the prior year
• Non-GAAP Adjusted EBITDA of $(4.4) million, down from $2.9 million in the prior year
• Platform Investments and Long-Term Growth Strategy Remain the Priority

For earnings history and earnings-related data on Liquidity Services (LQDT) click here.

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