Liquidity Services, Inc. (NASDAQ:LQDT) Q2 2023 Earnings Conference Call May 4, 2023 10:30 AM ET
Company Participants
Bill Angrick - Chairman & Chief Executive Officer
Jorge Celaya - Executive Vice President & Chief Financial Officer
Conference Call Participants
Gary Prestopino - Barrington Research
George Sutton - Craig-Hallum
Operator
Welcome to the Liquidity Services Incorporated Second Quarter of Fiscal Year 2023 Financial Results Conference Call. My name is Therese, and I will be your operator for today's call. Please note that this conference call is being recorded. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.
On the call today are Bill Angrick, Liquidity Services' Chairman and Chief Executive Officer; and Jorge Celaya, its Executive Vice President and Chief Financial Officer. They will be available for questions after their prepared remarks.
The following discussion and responses to your questions reflects Liquidity Services management's views as of today May 4, 2023 and will include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact the financial results as included in included in today's press release and in filings with the SEC including the most recent annual report on Form 10-K. As you listen to today's call, please have the press release in front of you, which includes Liquidity Services' financial results, as well as metrics and commentary on the quarter.
During this call, Liquidity Services management will discuss certain non-GAAP financial measures. In its press release and filings with the SEC each of which is posted on its website you will find additional disclosures regarding these non-GAAP measures including the reconciliations of these measures with the comparable GAAP measures as available.
Liquidity Services management also use certain supplemental operating data as a measure of certain components of operating performance, which they also believe is useful for management and investors. This supplemental operating data includes gross merchandise volume and should not be considered a substitute for or superior to GAAP results.
At this time, I will turn the presentation over to Liquidity Services Chairman and CCO – CEO, Bill Angrick.
Bill Angrick
Good morning and welcome to our Q2 earnings call. I'll review our Q2 performance and the progress of our business segments. And next Jorge Celaya will provide more details on the quarter.
We continue to deliver strong value for our customers and shareholders in Q2 as we expanded our market share, while delivering adjusted EBITDA and EPS above our guidance range and GMV near the high end of our guidance range. Despite some persistent macro headwinds, we continued to expand the reach and relevance of our marketplaces with improving vehicle metrics and continued strong buyer demand. Our resilient business model continues to deliver strong free cash flow and we have continued to repurchase shares as we see opportunity in our long-term prospects.