Live Ventures hits steel manufacturing speed bump, but six-month EBITDA climbs

Live Ventures (NASDAQ:LIVE) reported its fiscal second-quarter 2026 financial results on Thursday, showing a slight contraction in top-line revenue as headwinds in its steel manufacturing unit offset gains across other areas of its diversified holding portfolio.

Live Ventures announced that total revenue for the fiscal second quarter ended March 31, 2026, dipped 3.8% year-over-year to $102.9 million, down from $107 million in the fiscal second quarter of 2025.

Despite the slight revenue contraction, the company's blended gross margin improved by 80 basis points to 33.6%, reflecting favorable product mix shifts and supply chain efficiencies in its retail and flooring segments.

The company posted an operating loss of $2 million and a net loss of $2.4 million for the quarter.

Profitability was severely impacted by a $4 million non-cash goodwill impairment charge within its Steel Manufacturing segment, a division that has faced localized volume slowdowns.

Stripping out the impact of this one-time paper asset revaluation, the underlying holding portfolio remained operationally viable, with quarterly adjusted EBITDA coming in at $5.9 million compared to $6.5 million a year ago.

Taking a broader view of the fiscal year, Live Ventures' first six months demonstrated a steady operational foundation.

Total multi-segment revenue reached $211.4 million, down a modest 3.2% from the $218.4 million recorded during the first half of fiscal 2025.

For the six-month period, the net loss stood at $2.5 million, while first-half adjusted EBITDA actually grew 12.2% year-over-year to $13.7 million, proving that its core businesses are successfully maintaining profitability.