Live Ventures Q3 Revenue Falls 3%, Swings to Net Loss
LIVE sits 28% above its 52-week low of $8.5 on elevated volume (2.1× avg).
Summary
Live Ventures reported fiscal Q3 revenue down 3% year-over-year to $108.91 million, swinging to a net loss of $1.06 million from net income a year ago. Adjusted EBITDA fell 30% to $9.30 million, driven by continued softness in new-home construction and home-refurbishment markets that hurt the Retail-Flooring segment. The company did not provide specific guidance for the current quarter or full year. This follows a Q2 net loss, a $4.0 million goodwill impairment, and a debt covenant default in a key subsidiary, indicating ongoing financial distress. The Retail-Entertainment and Steel Manufacturing segments showed growth, but not enough to offset the flooring weakness.
At the time of this announcement, LIVE was trading at $10.90 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $33.5M. The 52-week trading range was $8.50 to $25.42. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.