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Live Ventures Q3 revenue falls 3%, posts net loss

Live Ventures Q3 revenue falls 3%, posts net loss


Overview

  • US diversified holding company reported fiscal Q3 revenue down 3% yr/yr

  • Company posted net loss for fiscal Q3, compared to net income last yr, which included a one-time gain

  • Fiscal Q3 adjusted EBITDA declined 30% yr/yr, driven by lower revenue


Outlook

  • Company did not provide specific financial guidance for the current quarter or full year


Result Drivers

  • RETAIL-FLOORING WEAKNESS - Co said continued softness in new-home construction and home-refurbishment markets led to lower retail and contractor sales in Retail-Flooring segment

  • RETAIL-ENTERTAINMENT GROWTH - Co said strong consumer demand across all product lines drove revenue growth in Retail-Entertainment segment

  • STEEL MANUFACTURING SALES VOLUME - Co said higher sales volumes in fabricated, hardened wear, and tool and die businesses boosted Steel Manufacturing segment revenue


Company press release: ID:nGNX9jX1y3


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$108.91 mln

Q3 Loss Per Share

$0.34

Q3 Net Loss

$1.06 mln

Q3 Adjusted EBITDA

$9.30 mln

Q3 Operating Income

$5.28 mln


Reuters Recommended Reads

  • Aug 10 - Compass Diversified Q2 adjusted EBITDA misses estimates despite consumer strength

  • Aug 13 - Germany's Thyssenkrupp Q3 sales rise on strong performance across segments

  • Aug 11 - Ampco-Pittsburgh returns to profit in Q2 on improved customer orders


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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