Heritage Global Inc. Announces Strong 2020 Third Quarter Operating Results

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Go back to Heritage Global Inc. Announces Strong 2020 Third Quarter Operating Results

Heritage Global, Inc. (HGBL) Reports In-Line Q3 EPS, Revenues Beat

November 9, 2020 5:17 PM EST

Heritage Global, Inc. (NASDAQ: HGBL) reported Q3 EPS of $0.04, in-line with the analyst estimate of $0.04. Revenue for the quarter came in at $7.57 million versus the consensus estimate of $6.31 million.

Third Quarter 2020 Highlights:

Total revenue of $7.6 million increased 14% from $6.6 million in the prior-year quarter. The year-over-year increase reflected 16% growth in services revenue ($6.1 million versus $5.2 million in the third quarter of 2019), as well as higher asset sales ($1.5 million versus $1.4 million in the prior year).Gross profit totaled $5.0 million compared to $5.3 million in the prior-year quarter. The decline reflected timing and... More