LAS VEGAS, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE) ("Live Ventures" or the "Company"), a diversified holding company, today announced financial results for its fiscal third quarter ended June 30, 2026.
Fiscal Third Quarter 2026 Key Highlights:
-- Revenue was $108.9 million, compared to $112.5 million in the prior-year
period, with year-over-year revenue growth in three of the Company's four
operating segments
-- Gross margin expanded approximately 10 basis points to 34.1%, compared to
34.0% in the prior-year period
-- Operating income was $5.3 million, compared to operating income of $8.0
million in the prior-year period
-- Net loss was $1.1 million and loss per share was $0.34, compared to net
income of $5.4 million and diluted earnings per share ("EPS") of $1.24 in
the prior-year period
-- Prior-year period results benefited from a $1.5 million gain on
Employee Retention Credits and a $1.3 million gain on the
settlement of a holdback liability related to Precision Industries,
Inc. ("Precision Marshall")
-- Adjusted EBITDA(1) was $9.3 million, compared to $13.2 million in the
prior-year period
-- Total assets were $385.8 million and stockholders' equity was $91.9
million as of June 30, 2026
-- Approximately $39.8 million in cash and availability under the Company's
credit facilities as of June 30, 2026
-- The Company has approximately $9.5 million remaining available under its
$10 million share repurchase program
"For the third quarter, our Retail-Entertainment and Steel Manufacturing segments posted revenue growth, improved operating income, and higher Adjusted EBITDA(1). The Retail-Entertainment segment's revenue grew 13%, while operating income and Adjusted EBITDA(1) increased 34% and 29%, respectively. The Steel Manufacturing segment's revenue increased 7%, with operating income and Adjusted EBITDA(1) up 69% and 16%, respectively. These results were partially offset by continued weakness in the Retail-Flooring segment, where softness in the new-home construction and home-refurbishment markets weighed on operating performance," said David Verret, Chief Financial Officer of Live Ventures.
"Our third-quarter performance demonstrates the resilience of our diversified operating portfolio. While we continue to navigate challenging conditions in our Retail-Flooring segment, our Retail-Entertainment and Steel Manufacturing segments delivered solid growth and improved profitability. We remain focused on initiatives to improve performance across our operating segments and drive sustainable value creation over the long term," commented Jon Isaac, President and Chief Executive Officer of Live Ventures.
(1) Adjusted EBITDA is a non-GAAP measure. A reconciliation of the non-GAAP measures is included below.
Third Quarter Fiscal Year 2026 Financial Summary (in
thousands except per share amounts)
For the three months ended June 30,
---------------------------------------------
2026 2025 % Change
----------- ---------- -----------
Revenue $ 108,911 $ 112,530 -3.2%
Gross profit $ 37,096 $ 38,287 -3.1%
Operating income $ 5,283 $ 8,003 -34.0%
Net income (loss) $ (1,058) $ 5,388 N/A
Diluted earnings (loss)
per share $ (0.34) $ 1.24 N/A
Adjusted EBITDA(1) $ 9,298 $ 13,188 -29.5%
Revenue decreased approximately $3.6 million, or 3.2%, to $108.9 million for the quarter ended June 30, 2026, compared to $112.5 million in the prior-year period. Revenue decreased primarily due to a decline of approximately $9.0 million in the Retail-Flooring segment, partially offset by increases of approximately $2.4 million in the Retail-Entertainment segment, $1.8 million in the Steel Manufacturing segment, and $1.1 million in the Flooring Manufacturing segment.
Gross profit decreased approximately $1.2 million, or 3.1%, to $37.1 million for the quarter ended June 30, 2026, compared to $38.3 million in the prior-year period. The decline was driven primarily by lower revenue in the Retail-Flooring segment. Gross margin increased approximately 10 basis points to 34.1%, compared to 34.0% in the prior-year period, reflecting improved margins in the Retail-Flooring and Steel Manufacturing segments.
Operating income decreased approximately $2.7 million, or 34.0%, to $5.3 million for the quarter ended June 30, 2026, compared to $8.0 million in the prior-year period. The decrease was driven primarily by lower gross profit of $1.2 million and increased compensation and professional fees in the Retail-Entertainment, Flooring Manufacturing, and Corporate segments. These increases were partially offset by lower general and administrative expenses in the Retail-Flooring and Steel Manufacturing segments.
For the quarter ended June 30, 2026, net loss was approximately $1.1 million, and loss per share was $0.34, compared to net income of approximately $5.4 million and diluted EPS of $1.24 in the prior-year period. The prior-year period results benefited from a $1.5 million gain on Employee Retention Credits and a $1.3 million gain on the settlement of a holdback liability related to Precision Marshall.
Adjusted EBITDA(1) for the quarter ended June 30, 2026, was approximately $9.3 million, a decrease of $3.9 million, or 29.5%, compared to $13.2 million in the prior-year period. The decrease in Adjusted EBITDA(1) was primarily due to the decrease in revenue.
As of June 30, 2026, the Company had total cash availability of approximately $39.8 million, consisting of $10.9 million in cash on hand and $28.9 million available for borrowing under its various lines of credit.
Third Quarter Fiscal Year 2026 Segment Results (in thousands)
For the three months ended June 30,
---------------------------------------------
2026 2025 % Change
---------- --------- ------------
Revenue
Retail - Entertainment $ 21,426 $ 19,017 12.7%
Retail - Flooring 21,434 30,373 -29.4%
Flooring Manufacturing 31,813 30,959 2.8%
Steel Manufacturing 36,271 33,793 7.3%
Intercompany
eliminations (2,039) (1,620) N/A
Corporate & Other 6 8 N/A
---------- --------- --------
Total Revenue $ 108,911 $ 112,530 -3.2%
---------- ---------
For the three months ended June 30,
---------------------------------------------
2026 2025 % Change
---------- --------- ------------
Operating (loss) income
Retail - Entertainment $ 3,100 $ 2,317 33.8%
Retail - Flooring (3,180) (733) -333.8%
Flooring Manufacturing 2,521 2,676 -5.8%
Steel Manufacturing 3,860 2,285 68.9%
Intercompany
eliminations (144) 1,450 N/A
Corporate & Other (874) 8 N/A
---------- --------- --------
Total Operating
(loss) Income $ 5,283 $ 8,003 -34.0%
---------- ---------
For the three months ended June 30,
-------------------------------------------------
2026 2025 % Change
--------- --- -------- -----------
Adjusted EBITDA(1)
Retail - Entertainment $ 3,315 $ 2,572 28.9%
Retail - Flooring (1,884) 778 N/A
Flooring Manufacturing 3,403 3,651 -6.8%
Steel Manufacturing 5,382 4,627 16.3%
Intercompany
eliminations (58) 1,450 N/A
Corporate & Other (860) 110 N/A
--------- -------- -------
Total Adjusted
EBITDA(1) $ 9,298 $ 13,188 -29.5%
--------- --- --------
For the three months ended June 30,
-------------------------------------------------
2026 2025
--------- --- --------
Adjusted EBITDA(1) as a
percentage of revenue
Retail - Entertainment 15.5% 13.5%
Retail - Flooring -8.8% 2.6%
Flooring Manufacturing 10.7% 11.8%
Steel Manufacturing 14.8% 13.7%
Intercompany
eliminations N/A N/A
Corporate & Other N/A N/A
Total Adjusted
EBITDA(1) 8.5% 11.7%
as a percentage of
revenue
Retail -- Entertainment