Auction ActivityManagement remains positive on the market opportunity but swung and missed on its expectation for a pickup in Q4, as some of the larger high-profile auctions failed to launch.
Earnings PerformanceThe earnings misses resulted from an unusually weak quarter for HGBL's business of brokering charged-off loans, leading to a drop in gross profit margin.
Revenue PerformanceHGBL missed consensus on revenue, adjusted EBITDA, and EPS as its business of auctioning industrial assets had an unusually weak quarter.