Liquidity Services Cuts Q3 Outlook - Quick Facts

(RTTNews) - Liquidity Services, Inc. (LQDT) Thursday said for the third quarter, it now expects adjusted earnings per share to be nearly 10 percent-20 percent, lower than its prior guidance range of $0.28 to $0.34. On an adjusted basis, earnings before interest tax depreciation and amortization or EBITDA is projected to be 10 percent to 20 percent, below its previous view of $18 million to $21 million. However,total gross merchandise volume is expected to be within the firm's guidance range of $225 million to $250 million. In addition, the group announced that its sales of selected rolling stock and other assets under its surplus contract with the U.S. Defense Logistics Agency have ceased. This has resulted in the cancellation of selected sales during the June quarter as well as future sales of selected assets. The company anticipates that these developments will adversely impact its third quarter and full year results.