- Heritage Global ( NASDAQ: HGBL ) shares are surging 7% premarket as the company anticipates that 2Q22 net operating income will be in the range of $3M to $4M.
- The significant growth in net operating income is related to strong performance in both of the company’s operating divisions as well as the final disposition of the Huntsville real estate assets associated with its joint venture partnership and the conclusion of that project.
- “We are very pleased with our strong preliminary second quarter operating results, which reflected industry tailwinds in both our industrial and our financial businesses. Our performance was also favorably impacted in the quarter by the closing of the two remaining Huntsville transactions. By nature of the day-to-day activities in our industrial business, we are uniquely positioned to identify and purse strategic real estate opportunities. To date, our real estate transactions have proven to be high margin revenue generators, and we anticipate that our real estate partnerships will continue to represent significant growth potential for the Company moving forward.” said CEO Ross Dove
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Heritage Global anticipates significant net operating growth in 2Q22