Liquidity Services, Inc. (NASDAQ:LQDT) Q2 2024 Earnings Call Transcript

So Sierra is a great example of that. And what happens, you announce a transaction and people have a good feeling about it, and Sierra is going quite well. Other people start to approach you, and we’ve got a good pipeline of ideas there. Now we’re a thrifty buyer. We’re not looking to just do a roll up of some kind. We’re looking very patiently at where we can get the one-plus-one-equals-three type of outcome. And with a very strong balance sheet and a very good team that can handle the onboarding and integration acquired businesses, I think there’s more to do, Gary — I’m sorry. I think there’s more to do, George, on this notion of consolidation but consolidation with smart integration and leveraging the tech platform is how we think about it.

George Sutton: So Jorge, on the strength that we saw in auction participants and transactions, which was quite good, was there something that drove that uniquely this quarter, perhaps the CAG-purchased transactions side?

Jorge Celaya: Well, I would — I said we had strength across the board. But certainly, the growth in all-surplus deals helps with auction participants, right? We have more people on smaller items. I think those are the key drivers. But overall, we had pretty good strength of participation in buyer demand across our or segments.

Operator: We have no further questions at this time. Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.