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Liquidity Services, Inc. (LQDT)

- NASDAQ
  • Thu, Aug. 6, 6:57 AM
    • Liquidity Services (NASDAQ:LQDT): FQ3 EPS of $0.14 beats by $0.04.
    • Revenue of $89.7M (-29.3% Y/Y) misses by $7.11M.
    • Press Release
    | Thu, Aug. 6, 6:57 AM | Comment!
  • Thu, Jul. 23, 5:31 PM
    • Jorge Celaya, once the CFO of consulting/software firm FTI Consulting and BPO firm Sitel, has been named Liquidity Services' (NASDAQ:LQDT) new CFO, effective Aug. 10.
    • Celaya replaces Jim Rallo, who has been CFO since 2005. Rallo will remain head of Liquidity's Retail Supply Chain Group, a role he took on last year.
    • The announcement comes ahead of the salvage auction site's Aug. 6 FQ3 report.
    | Thu, Jul. 23, 5:31 PM | Comment!
  • Wed, Jun. 10, 1:45 PM
    • The DoD has granted Liquidity Services (NASDAQ:LQDT) a 9-month base term extension for its scrap property auction contract, as well as three 3-month option periods. The extension went into effect yesterday.
    • Liquidity's contract has been amended to give the DoD a 65% profit share, and the right to "terminate portions of the contract by location with a 90-day notification required no sooner than February 1, 2016." It can also "terminate portions of the contract by certain commodity categories with a 60-day notification required no sooner than October 1, 2015."
    • Liquidity has jumped above $10 on the news. The company's GMV has been hit hard in recent quarters by the 2014 loss of the DoD's rolling stock surplus auction contract.
    | Wed, Jun. 10, 1:45 PM | Comment!
  • Thu, May 7, 3:36 PM
    • Tech companies rallying after posting calendar Q1 reports include online textbook rental/learning services provider Chegg (CHGG +14.6%), salvage auction site Liquidity Services (LQDT +10.3%), optical component maker Emcore (EMKR +6.7%), and health site owner WebMD (WBMD +6.7%).
    • Companies declining following earnings include cloud fleet management software vendor Fleetmatics (FLTX -6.8%), seismic hardware provider Ion Geophysical (IO -11.8%), and online stock photo marketplace Shutterstock (SSTK -4.7%).
    • Chegg beat Q1 estimates on the back of an 89% Y/Y increase in digital revenue (now 39% of total revenue. Q2 revenue guidance of $61M-$65M and full-year guidance of $300M-$315M is respectively favorable to consensus estimates of $62.2M and $304.3M at the midpoints.
    • Beaten-down Liquidity beat FQ2 estimates while reporting a 16.6% Y/Y drop in GMV to $189.4M. FQ3 guidance is for GMV of $175M-$200M and EPS of $0.05-$0.10 (below an $0.11 consensus).
    • Emcore beat FQ2 estimates and is guiding for FQ3 broadband fiber division revenue of $19M-$21M, above an $18.5M consensus.
    • WebMD beat Q1 estimates on the back of 21% Y/Y increases in monthly unique users (210M) and page views (4.25B). Q2 revenue guidance of $145M-$148M is below a $151.9M consensus, but full-year revenue guidance of $615M-$635M has been reiterated.
    • Fleetmatics beat Q1 estimates, but also guided for Q2 revenue of $67.9M-$68.7M and EPS of $0.24-$0.26, below a consensus of $69.5M and $0.30. Full-year guidance is for revenue of $281M-$283M and EPS of $1.26-$1.30 vs. a consensus of $288.8M and $1.29.
    • Ion, hit hard by declining oil exploration work, missed Q1 estimates while reporting 79%, 49%, and 12% Y/Y drops in Solutions, Systems, and Software revenue. The company expects "an increase in exploration spending over the back half of the year, albeit at lower than historical levels."
    • Shutterstock beat Q1 estimates, but also forecast Q2 revenue of $104M-$106M (below a $106.1M consensus). 2015 revenue guidance of $436M-$444M is in-line with a $439.5M consensus.
    • Previously covered: Alibaba, Qorvo, SunEdison, MeetMe, Priceline, Teradata, Activision, Gogo, Atmel, Varonis, Zynga
    | Thu, May 7, 3:36 PM | Comment!
  • Thu, May 7, 6:56 AM
    • Liquidity Services (NASDAQ:LQDT): FQ2 EPS of $0.08 beats by $0.01.
    • Revenue of $102.94M (-19.8% Y/Y) beats by $6.11M.
    • Press Release
    | Thu, May 7, 6:56 AM | Comment!
  • Wed, May 6, 5:30 PM
  • Mon, Mar. 23, 3:15 PM
    • Today's notable tech gainers include OLED materials/IP provider Universal Display (OLED +5.7%), salvage auction site Liquidity Services (LQDT +6.2%), auto site TrueCar (TRUE +8.5%), touchscreen tech developer Neonode (NEON +10.4%), hard drive assembly supplier Hutchison (HTCH +7.1%), Web site owner/ISP United Online (UNTD +5.5%), software outsourcing firm Luxoft (LXFT +5.6%), optical component vendor NeoPhotonics (NPTN +8.3%), and U.S. solar installer Solar3D (SLTD +15.2%).
    • Many Chinese names are also rallying today. Standouts include online real estate plays SouFun (SFUN +6.9%), E-House (EJ +4%), and Leju (LEJU +8.1%), online beauty product retailer Jumei (JMEI +5.9%), online classifieds platform 58.com (WUBA +5%), and app developers/publishers Sungy Mobile (GOMO +4.7%), Cheetah Mobile (CMCM +7.6%), and China Mobile Games (CMGE +5.9%).
    • The list of major decliners is smaller: It includes cloud healthcare software firm Castlight (CSLT -4.8%), microcontroller maker Atmel (ATML -3.1%), supply chain software vendor Manhattan Associates (MANH -4.3%), Chinese solar cell/module maker ReneSola (SOL -5.9%), and RF filter tech developer Resonant (RESN -8.6%).
    • Universal Display is rallying to new 52-week highs yet again amid Galaxy S6 enthusiasm. Solar3D is now up 42% over the last 3 trading days. Heavily-shorted Cheetah Mobile is reversing Friday's post-earnings losses. Castlight is adding to the losses seen on Friday following a neutral Wells Fargo launch.
    • Previously covered: Digital Ally, Sonus, xG Technology, IPG Photonics, CyberArk, Immersion, Nvidia, EZchip
    | Mon, Mar. 23, 3:15 PM | 2 Comments
  • Mon, Feb. 9, 2:55 PM
    • Today's notable tech gainers include 3D printer maker ExOne (XONE +6%), data center switch vendor Arista (ANET +4.2%), solar microinverter maker Enphase (ENPH +6.1%), ID theft-protection services firm LifeLock (LOCK +6.8%), voice processor developer Audience (ADNC +10.3%), contract manufacturer Multi-Finline (MFLX +10.2%), and cloud file-sharing platform/recent IPO Box (BOX +9.1%).
    • Notable decliners include flash storage array vendor Violin Memory (VMEM -5.6%), ultracapacitor maker Maxwell (MXWL -6.3%), SMB Web services provider Wix.com (WIX -4.8%), salvage auction site Liquidity Services (LQDT -5.4%), and carrier billing software/cloud services provider Synchronoss (SNCR -5.6%). The Nasdaq is down 0.3%.
    • LifeLock reports earnings tomorrow afternoon. Audience is four days removed from beating Q3 estimates and offering in-line guidance. Arista is reversing its Friday's losses, and Box is adding to the Friday gains that came after a positive Jim Cramer mention.
    • Synchronoss is adding to the losses seen last week after the company offered cautious 2015 cloud revenue guidance to go with a Q4 beat, and Maxwell to the losses seen due to the soft Q1/2015 guidance provided with a Q4 beat. Liquidity is giving back some of last week's huge post-earnings gains. Wix reports on Wednesday morning.
    • Earlier: GoPro, Yelp see more post-earnings pain
    • Earlier: Chinese solar stocks rally
    | Mon, Feb. 9, 2:55 PM | 1 Comment
  • Thu, Feb. 5, 1:50 PM
    • With Liquidity Services (LQDT +24.4%) having gone into earnings down over 85% from its 2012 highs, and over 70% from a 52-week high of $27.33, its FQ1 beat is easily overshadowing FQ2 EPS guidance of $0.05-$0.10 (below a $0.15 consensus).
    • The FQ1 beat was driven by a GMV of $245.3M, +4.6% Y/Y (a big reversal from FQ4's 11% decline) and above guidance of $200M-$225M. GMV is expected to fall in seasonally weak FQ2 to $175M-$200M.
    • CEO Bill Angrick: "Given the transition of our legacy businesses with the DoD and Walmart, we are pleased with our Q1 results which were well above our guidance on both the top and bottom line led by a strong quarter in our commercial capital assets group which performed above expectations." 40 new commercial sales clients and client programs were signed during the quarter.
    • Liquidity cautions it's "difficult for us to forecast the sales and margins of our business in FY-15 while we are awaiting the final specifications and timing of the work we will be performing under the new DoD surplus contract."
    • Cost controls aided the EPS beat: G&A spend fell 23% Y/Y to $9.5M, and sales/marketing and R&D spend rose moderately. Liquidity, which currently sports a $311M market cap, ended FQ1 with $74M in cash, and no debt.
    • FQ1 results, PR
    | Thu, Feb. 5, 1:50 PM | 2 Comments
  • Thu, Feb. 5, 12:45 PM
    | Thu, Feb. 5, 12:45 PM | 1 Comment
  • Thu, Feb. 5, 6:59 AM
    • Liquidity Services (NASDAQ:LQDT): FQ1 EPS of $0.38 beats by $0.22.
    • Revenue of $125.14M (+2.6% Y/Y) beats by $14.82M.
    • Press Release
    | Thu, Feb. 5, 6:59 AM | Comment!
  • Wed, Feb. 4, 5:30 PM
  • Tue, Feb. 3, 1:25 PM
    • Though the Nasdaq is only up 0.4%, a long list of tech firms are posting outsized gains today.
    • It's a good day for online real estate: Merger partners Zillow (Z +5%) and Trulia (TRLA +4.9%) are up sharply, as are Chinese online real estate plays SouFun (SFUN +5.2%), E-House (EJ +6.5%), and Leju (LEJU +3.8%).
    • Other major tech gainers include security software firm Imperva (IMPV +4.7%), gaming headset maker Turtle Beach (HEAR +6.6%), salvage auction site Liquidity Holdings (LQDT +7.4%), RF filter tech developer Resonant (RESN +10.7%), telecom equipment/SDN software vendor Cyan (CYNI +10.1%), Chinese CDN owner ChinaCache (CCIH +10.8%), application delivery controller vendor A10 Networks (ATEN +6.1%), Chinese sports lottery site 500.com (WBAI +7.6%), and unified communications hardware/software firm ShoreTel (SHOR +6.7%).
    • Earlier: Solar stocks soar as oil tops $51, CSIQ strikes deal
    • Earlier: 3D printing stocks routed after Stratasys warns
    | Tue, Feb. 3, 1:25 PM | Comment!
  • Dec. 8, 2014, 12:45 PM
    | Dec. 8, 2014, 12:45 PM | 4 Comments
  • Dec. 8, 2014, 10:11 AM
    • Declaring Liquidity Services (NASDAQ:LQDT) has failed to comply with deal provisions related to service level requirements and restrictions on the disposing of merchandise, Wal-Mart has terminated an agreement through which Liquidity bought closeouts, customer returns, and excess merchandise for resale. (8-K)
    • Liquidity disputes Wal-Mart's allegations, and is "evaluating all of its options" for contesting the deal's termination.
    • The company insists Wal-Mart's move won't prevent it from hitting its FQ1 guidance. However, Janney notes Wal-Mart accounted for 11% of FY14 (ended Sep. '14) GMV, and thus expects estimate cuts.
    • Separately, Liquidity announces the DoD has granted it a two-month extension for its surplus property sale contract.
    | Dec. 8, 2014, 10:11 AM | 4 Comments
  • Nov. 20, 2014, 12:46 PM
    | Nov. 20, 2014, 12:46 PM | Comment!
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Company Description
Liquidity Service Inc is an online auction marketplace for surplus and salvage assets. It enables buyers and sellers to transact in an efficient, automated online auction environment offering over approximately 500 product categories.