A-Mark Precious Metals reports Q2 diluted EPS 57c, consensus 79c

Reports Q2 revenue $2.08B, consensus $2.24B. “Our second quarter results reflect the strength of our fully-integrated platform to generate profitable results,” said A-Mark CEO Greg Roberts. “Despite continued softened demand, we delivered 57c per diluted share, $25.1M of non-GAAP EBITDA, and continued to enhance shareholder value by increasing our share repurchase program by buying back 440,092 shares of common stock during the quarter. During December, we also repaid our Notes Payable from our $100M Asset Backed Securitization. We continue to explore strategic opportunities, as reflected by our recent M&A activity, and to invest in logistics automation initiatives at our A-Mark Global Logistics facility in Las Vegas, which will allow us to efficiently handle a greater number of SKUs and increased volume, all while effectively minimizing our operational costs. We are confident that these strategic measures will support our growth strategy as we strive to further expand our business.”