Heritage Global Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 14, 2024 at 08:05 pm
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Heritage Global Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 5.84 million compared to USD 6.52 million a year ago. Revenue was USD 15.28 million compared to USD 13.83 million a year ago. Net income was USD 4.89 million compared to USD 9.97 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.27 a year ago.
For the full year, the company reported sales was USD 21.07 million compared to USD 23.5 million a year ago. Revenue was USD 60.55 million compared to USD 46.91 million a year ago. Net income was USD 12.48 million compared to USD 15.49 million a year ago. Basic earnings per share from continuing operations was USD 0.34 compared to USD 0.43 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.42 a year ago.
Heritage Global Inc. is an asset services company specializing in financial and industrial asset transactions. The Company provides a full suite of services, including market making, acquisitions, refurbishment, dispositions, valuations and secured lending. The Company segments include Industrial Assets Division and Financial Assets Division. Industrial Assets Division includes Auction and Liquidation, which operates a global full-service auction, appraisal and asset advisory firm, including the acquisition of turnkey manufacturing facilities and used industrial machinery and equipment, and Refurbishment & Resale, which acquire, refurbish and supply specialized laboratory equipment. Financial Assets Division includes Brokerage, which charges-off receivables in the United States and Canada on behalf of lenders including banks, mortgage companies, and auto and alternative lending sources, and Specialty Lending, which provides specialty financing solutions to investors.
HERITAGE GLOBAL INC. 
