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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.
Ritchie Bros conducted its second auction in Fort Worth, TX from May 17-19, 2022, attracting over 11,100 bidders and generating more than US$60 million in gross transaction value, representing a 9% year-over-year increase. The auction featured over 4,350 items from 700 consignors, with approximately 93% of purchases made by American buyers. Notable sales included a 2019 Komatsu excavator for US$570,000 and a 2022 K-Tec scraper pan sold for US$205,000, with proceeds donated to Habitat for Humanity. Upcoming auctions include events in June and July in various locations.
On May 17, 2022, Ritchie Bros. released its May Market Trends Report, indicating a year-over-year equipment price rise of approximately 14% for the three months ending April 2022. Despite ongoing price inflation, the month-to-month inflation rate in the U.S. is showing signs of slowing. Truck tractor prices increased by 52% year-over-year, while the large earthmoving index rose 18% in the U.S. and 13% in Canada. The report highlighted ongoing tight supply and strong demand for equipment, with prices expected to stabilize.
Ritchie Bros conducted record-breaking auctions in Toronto and Winnipeg, generating over CA$102 million (US$78 million) in sales. The Toronto auction alone fetched CA$71 million (US$54 million), while Winnipeg contributed CA$31 million (US$24 million). Attracting 11,900 bidders across both cities, the auctions also saw a 35% year-over-year increase in gross transaction value. Canadian buyers purchased approximately 91% of sold items in Toronto. The events highlighted the company's robust demand and effective marketing strategies, with significant global participation from bidders.
Ritchie Bros held 45 farm auctions in March and April 2022, attracting over 101,000 global bidders. The company achieved record-breaking sales, including a 155-acre parcel sold for CA$1.33 million and a combined CA$12.9 million for 6,100 acres in Manitoba. Over 5,000 agricultural items were sold, with no minimum bids. Highlights included a 2016 Case IH 620 QuadTrac tractor sold for CA$550,000, the highest price for that model in company history. Ritchie Bros continues to lead in asset management and disposition within the agriculture sector.
Ritchie Bros. Auctioneers (RBA) reported an impressive Q1 2022, with net income soaring 532% to $178.1 million, including a $169.1 million gain from a property sale. Diluted EPS climbed 540% to $1.60. Total revenue grew 19% to $393.9 million, aided by a 19% increase in service revenue and inventory sales. Notably, GTV rose 13% to $1.4 billion. The company activated 103% more organizations on its platform than the previous year, signalling strong growth momentum.
Ritchie Bros held its largest Canadian equipment auction in Edmonton from May 2-7, 2022, selling over 11,000 items and generating more than CA$204 million (US$158 million) in gross transaction value. The event attracted 23,800 bidders from 55 countries, with 91% of the sales made to Canadian buyers. Notable sales included a 2017 Caterpillar motor grader sold for CA$1,020,000. The auction showcased strong demand for late-model construction equipment and was marked by significant participation from both local and international bidders.
Ritchie Bros Auctioneers (NYSE: RBA) announced the discontinuation of its acquisition of Euro Auctions Limited, following a Phase 2 review by the UK Competition and Markets Authority (CMA). The decision was made due to significant concerns raised by the CMA, leading to the termination of the Sale and Purchase Agreement dated August 9, 2021. The company plans to redeem US$600 million and C$425 million of senior notes issued to fund this acquisition within 10 business days. CEO Ann Fandozzi expressed disappointment but reaffirmed the company’s commitment to organic growth and strategic acquisitions.
The Annual and Special Meeting of Shareholders for Ritchie Bros Auctioneers (NYSE: RBA) took place on April 27, 2022. Approximately 86.33% of outstanding shares were represented. Key voting results included the election of directors, with significant support for Ann Fandozzi (93,698,494 votes) and Mahesh Shah (93,694,591 votes). The complete voting results are available in the Company’s Proxy Statement and on the SEDAR website. Established in 1958, Ritchie Bros is a leading global asset management firm specializing in used heavy equipment and other assets.
Ritchie Bros is set to host Canada’s largest equipment auction from May 2 to 7 in Edmonton, featuring over 11,000 items from more than 1,400 consignors. The event showcases a diverse range of equipment including 270+ truck tractors, 190+ excavators, and 950+ trailers, all sold without minimum bids. As demand for used equipment rises, bidders can participate online or in person. Day-wise schedules detail the auctioning of different equipment categories, including complete dispersals from well-known contractors.
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