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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. Financial Services has achieved a historic milestone with over US$1 billion in open credit approvals for equipment and truck financing, marking an 18% year-over-year increase in applications. The surge in demand reflects a strong sellers' market as equipment prices reach record highs. Key financing solutions include PurchaseFlex and LeaseFlex, offering flexible, low-cost options. The introduction of EquityFlex allows clients to refinance existing equipment for capital. This robust financing capability aligns with the growing inventory of over 50,000 items available through Ritchie Bros.
Ritchie Bros. held a successful unreserved online auction from April 12-14, attracting over 10,750 bidders from 55 countries. The auction generated more than US$57 million by selling over 4,400 equipment items and trucks. Approximately 88% of sales were to U.S. buyers, with Texans accounting for 44% of purchases. The auction saw a 70% increase in online equipment views year-over-year. Notable sales included a 2017 Manitowoc crane for US$470,000 and a 2020 Caterpillar excavator for US$460,000. Part two of a major dispersal will occur in June.
Ritchie Bros (NYSE: RBA) announces its First Quarter 2022 earnings conference call on May 10, 2022, at 11:00 a.m. Eastern time. The earnings results will be released on May 9, 2022, after market close. Analysts and investors can join the call using the provided dial-in numbers or listen via webcast. Presentation slides will accompany the call, available for download on the company's investor site. The call replay will be accessible until June 10, 2022.
BNP Paribas Leasing Solutions, a leader in equipment financing with over €35.7 billion in managed assets, has partnered with Ritchie Bros. Asset Solutions to enhance asset valuation and management. Effective April 1, 2022, this collaboration allows BNP Paribas to leverage Ritchie Bros.' valuation tools for accurate residual values in financing contracts. The partnership aims to streamline asset tracking and meet Basel regulatory requirements, facilitating data-driven decisions on financing. Ritchie Bros. Asset Solutions integrates various services for better asset management.
Ritchie Bros achieved a record-breaking success at its Sacramento Timed Auction event, selling over 2,800 items for more than US$29 million on March 30, 2022. The event attracted over 8,250 bidders from more than 40 countries, marking a 25% year-over-year increase. Approximately 97% of the sold equipment went to U.S. buyers, with a significant 63% sold to Californians. The Timed Auction format allows buyers to set maximum bids and receive updates on bidding activity, enhancing convenience for users.
Ritchie Bros. held its largest Montreal auction from March 23-25, 2022, generating over CA$48 million (US$38 million) in sales from approximately 3,000 items, attracting over 7,400 bidders from over 40 countries. The event highlighted unprecedented demand for transportation equipment. Additionally, the Northeast Regional Event on March 22-23 garnered US$42 million from around 4,900 items, with over 8,900 bidders participating. Notable sales included high-value units like a Caterpillar dozer sold for CA$252,000. The company's strong performance reflects a growing global market for used heavy equipment.
Ritchie Bros.' Fort Worth auction, held from March 15-17, 2022, achieved a record gross transaction value exceeding US$79 million. The event attracted over 14,700 bidders from 68 countries, competing for more than 4,600 items. Notable sales included a 2019 Kenworth T800 boom truck for US$400,000 and a 2019 Mack GR64B for US$380,000. Approximately 91% of purchases were made by U.S. buyers, with 38% from Texas. The auction garnered 39% more PriorityBids than the previous year, reflecting strong demand for equipment and trucks in the market.
The March Market Trends Report from Ritchie Bros reveals noteworthy increases in equipment prices following a recent US$213+ million auction in Orlando. Truck tractor prices soared by 63% over the past three months, while vocational trucks and medium earthmoving prices rose by 45% and 42% respectively. The report highlights strong demand and tight supply conditions, leading to a 2% retail price rise in February, and a 5% increase in auction values. Over the past 15 months, retail values have surged by 22%.
On March 7, 2022, Ritchie Bros reported successful online auctions in Edmonton and the Rocky Mountain region, attracting over 26,250 bidders and generating more than US$95 million in gross transaction value. Key sales included a 2017 CMI Bandit concrete plant at US$500,000 and a Caterpillar dozer for CA$317,000 (US$248,888). The Edmonton auction alone accounted for CA$59 million (US$46 million). The company plans additional auctions, with significant demand for oil and gas equipment in Alberta expected to drive future sales.
Ritchie Bros Auctioneers (NYSE: RBA) announced that the UK's Competition and Markets Authority (CMA) will refer its proposed acquisition of Euro Auctions for a Phase 2 review. The company remains optimistic about a favorable outcome and is actively engaging with the CMA. Established in 1958, Ritchie Bros is a global leader in asset management and disposition, with a broad range of services across various sectors, including construction and transportation.
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