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RB Global, Inc. (NYSE: RBA, TSX: RBA) is a globally renowned asset management and disposition company established in 1958 and headquartered in Westchester, Illinois. Specializing in the buying and selling of used heavy equipment, trucks, and other assets, RB Global offers comprehensive end-to-end solutions across various sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry.
RB Global operates through multiple selling channels:
- Ritchie Bros. Auctioneers: The world's largest industrial auctioneer providing live auction events with online bidding.
- IronPlanet: An online marketplace featuring weekly auctions and offering IronClad Assurance® equipment condition certification.
- Marketplace-E: An online marketplace providing multiple price and timing options.
- Mascus: A leading European online equipment listing service.
- Ritchie Bros. Private Treaty: Offering privately negotiated sales.
Additionally, RB Global caters to specific sectors through GovPlanet, TruckPlanet, and Kruse Energy Auctioneers.
The company has expanded its reach by merging with IAA, a major global digital marketplace connecting vehicle buyers and sellers. Through this collaboration, RB Global continues to enhance its omnichannel marketplace, providing value-added insights, services, and transaction solutions for commercial assets and vehicles. RB Global serves customers in more than 170 countries through auction sites in 14 countries and a robust digital platform.
RB Global is known for its massive auction events, including the record-setting 2024 global auction in Orlando with over 16,500 items and generating over $258 million in gross transaction value (GTV). Another notable event was the Edmonton auction, which set a new Canadian record with nearly CAD $250 million in GTV.
Recent achievements include strategic market alliances such as the one with Lion Trans in Georgia and Baltic Auto Shipping in Lithuania, aimed at increasing market share and improving global customer experience. RB Global's portfolio also includes Rouse Services, SmartEquip, Xcira, and VeriTread, which provide asset management, data-driven intelligence, and live auction technology solutions.
As part of its financial performance, RB Global consistently delivers solid growth, with a notable reduction in leverage and strong quarterly earnings. The company declared a quarterly cash dividend of $0.27 per common share, reflecting its commitment to shareholders.
RB Global's dedication to innovation, strategic growth, and operational excellence makes it a significant player in the global marketplace for commercial assets and vehicles.
RB Global's subsidiary IAA has announced a new Market Alliance with North America Trading L.L.C. in Oman. Through this strategic partnership, IAA plans to open auction centers in three cities across Oman by the end of 2025. The alliance aims to expand IAA's global buyer base in the Middle East by providing local services and assistance. North America Trading will help IAA connect with new buyers and support local customers in purchasing and importing vehicles tailored to their needs, leveraging IAA's technology.
RB Global reported mixed Q3 2024 financial results with total GTV decreasing 7% to $3.6 billion and total revenue declining 4% to $981.8 million. Despite these declines, net income increased 20% to $76.0 million, and diluted EPS rose 20% to $0.36 per share. Service revenue showed modest growth of 1% reaching $779.9 million, while inventory sales revenue decreased 18% to $201.9 million. The company updated its 2024 outlook, maintaining GTV growth projection at 0-2% and adjusting Adjusted EBITDA range to $1,235-$1,270 million.
Ritchie Bros. Auctioneers has announced its premier global auction event in Orlando, FL, scheduled for February 17-21, 2025. The event, which combines live and online bidding, will be held at their 200+ acre facility. The 2024 edition attracted 22,000 buyers from over 80 countries, featuring 16,500 items from more than 1,100 consignors, generating over US$258 million in Gross Transaction Value. The event offers flexible selling options including virtual selling and onsite consignment, while showcasing Ritchie Bros.' core products and additional value-added services.
RB Global, Inc. (NYSE: RBA) (TSX: RBA) has announced the release date for its third-quarter 2024 financial results. The company will unveil its financial performance before the market opens on Friday, November 8, 2024. Following the release, RB Global will host a conference call at 8:30 a.m. Eastern time to discuss the results.
Analysts and institutional investors can pre-register for the conference call using a provided link. Registered participants will receive email details with dial-in information. Additionally, a live audio webcast and archived replay of the call will be accessible through the Event & Presentation section of RB Global's Investor Relations website.
RB Global, Inc. (NYSE: RBA) (TSX: RBA) has appointed Steve Lewis as Chief Operating Officer, effective Sept. 3, 2024. Lewis brings extensive experience in operations and supply chain management, with a focus on driving business growth through operational excellence. Previously, he served as Division President at GXO Logistics and held leadership positions at XPO Logistics and Penn Power Group. Lewis is also a retired U.S. Naval Officer with over 20 years of operations and supply chain experience.
CEO Jim Kessler expressed confidence in Lewis's ability to add significant value to the leadership team and support RB Global's focus on partners and operational excellence. Lewis stated his commitment to delivering on the company's mission of operational excellence to drive growth and create value for customers, clients, partners, and team members.
RB Global (NYSE & TSX: RBA) reported solid Q2 2024 results, with net income available to common stockholders increasing 30% year-over-year to $100.7 million. Despite a 1% decrease in GTV to $4.1 billion, the company saw a 7% increase in service revenue to $859.1 million and an 11% rise in Adjusted EBITDA to $342.0 million. Diluted earnings per share grew 29% to $0.54, while diluted adjusted EPS rose 15% to $0.94. The company has updated its full-year 2024 outlook, projecting GTV growth of 0% to 2% and Adjusted EBITDA between $1,220 to $1,270 million. RB Global also announced a 7% increase in quarterly dividend to $0.29 per share.
RB Global (NYSE: RBA) (TSX: RBA) will release its second-quarter financial results for 2024 on August 6, 2024, before the market opens. The company has also scheduled a conference call to discuss the results at 8:30 a.m. Eastern time on the same day.
Analysts and institutional investors can pre-register for the call through a provided link, receiving event reminders and access details via email. The live audio webcast and an archived replay will be available on RB Global's Investor Relations website.
RB Global, Inc. reported strong financial results for the first quarter of 2024, highlighting a significant increase in GTV, total revenue, service revenue, and net income. The company's robust execution in the automotive sector led to a solid performance. Adjusted EBITDA also showed a substantial increase year-over-year. The updated 2024 financial outlook demonstrates a positive growth trajectory and operational excellence.
RB Global, Inc. held its 2024 annual and special meeting of shareholders, disclosing that 87.9% of total votes were cast. The voting results for directors showed a mix of high approval rates and some dissenting votes, with detailed information available on the Company's website.
Ritchie Bros. Auctioneers achieved a new Canadian record by selling nearly CA$250 million worth of heavy equipment assets and vehicles at their premier Canada auction event in Edmonton, AB. The five-day auction attracted over 21,000 bidders from 43 countries, with a majority of equipment sold to Canadians. The event showcased a vast selection of equipment, including late-model, low-hour gear. Ritchie Bros. expressed gratitude to their consignors and customers for their continued support and community contributions.
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