Heritage Global Inc. (HGBL) Q1 2023 Earnings Call Transcript

Heritage International Inc. (NASDAQ:HGBL) Q1 2023 Earnings Convention Name Might 11, 2023 5:00 PM ET

Firm Contributors

John Nesbett – IR

Ross Dove – CEO

Brian Cobb – CFO

Convention Name Contributors

Mark Argento – Lake Avenue


Welcome to the Heritage International Inc. First Quarter 2023 Earnings Name. [Operator Instructions]

I’ll now flip the decision over to your host, John Nesbett, IMS Investor Relations. You could start.

John Nesbett

Thanks, and good afternoon, everybody. Earlier than we start, I would wish to remind everybody that this convention name incorporates forward-looking statements primarily based on our present expectations and projections about future occasions and are topic to alter primarily based on varied necessary components, in gentle of those dangers, uncertainties and assumptions, you shouldn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this name. For extra particulars on components that would have an effect on these expectations, please see our filings with the Securities and Trade Fee.

Now I would like to show the decision over to Heritage International’s Chief Government Officer, Mr. Ross Dove. Ross, go forward.

Ross Dove

Thanks, John, and good afternoon, everybody. Welcome to our first quarter 2023 earnings convention name. Let’s begin immediately’s name with Brian Cobb, our Chief Monetary Officer, who will focus on our monetary efficiency. Brian, your flip.

Brian Cobb

Thanks, Ross.

Our 2023 first quarter efficiency mirrored robust working outcomes, together with file web working earnings of $3.9 million, improved profitability of $0.08 per diluted share and EBITDA of $4 million. We noticed progress from each our monetary belongings and our industrial belongings divisions, with all 4 working segments contributing to our profitability.

This quarter’s efficiency is much more vital than a file consequence for 2 major causes. Not solely did we obtain a file quarter, however we did so with out actual property