Welcome to our dedicated page for RB Global news (Ticker: RBA), a resource for investors and traders seeking the latest updates and insights on RB Global stock.
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 has released its January Market Trends Report highlighting significant price increases in used equipment. Medium earthmoving equipment prices surged 45% year-over-year, while aerial equipment saw a 41% increase. The report indicates record auction activity and pricing, with truck tractors rising 65% and excavator median prices reaching $57,500, up 15%. The report reflects a strong seller's market, with the company attracting a record number of bidders in 2021.
Zuora, Inc. (NYSE: ZUO) has appointed two new independent board directors: Laura Clayton McDonnell and Amy Guggenheim Shenkan. Clayton McDonnell, currently Senior VP at ServiceNow, brings extensive experience in enterprise sales, while Shenkan, a Senior Advisor at Altamont Capital, adds her expertise in digital transformation. Their appointments aim to enhance Zuora’s strategic direction in the growing Subscription Economy. CEO Tien Tzuo expressed excitement about their leadership and insights, which are expected to help drive Zuora's growth and better serve its enterprise customers.
The Board of Directors of Ritchie Bros (NYSE: RBA) has declared a quarterly cash dividend of US$0.25 per common share, payable on March 4, 2022. Shareholders of record as of February 11, 2022 will qualify for this dividend, which is recognized as an eligible dividend for Canadian tax purposes. Established in 1958, Ritchie Bros is a global leader in asset management and sales, providing end-to-end solutions for buying and selling heavy equipment across various sectors including construction and transportation.
Nations Capital, Inc. and Ritchie Bros (RBA) announced an agreement to acquire certain assets from DeAngelo Contracting Services (DCS), which include thousands of units of highway and road maintenance equipment deemed excess to DCS's needs. The transaction aims to monetize these assets through bulk private sales and auctions. Ritchie Bros expects strong demand as used equipment prices remain high, facilitating the consolidation of these assets for resale across its various marketplaces.
On December 21, 2021, Ritchie Bros. conducted its largest-ever auction in Chehalis, WA, attracting 9,950 bidders from 58 countries and generating over $41 million in gross transaction value. The auction featured more than 2,600 items sold, with 95% acquired by U.S. buyers, including a significant portion from Washington State. The event marked a 27% increase in participation year-over-year. Ritchie Bros. reported strong pricing across transportation and excavation equipment, indicating a robust seller's market. The next Chehalis auction is scheduled for March 2022.
Ritchie Bros. achieved a record-breaking CA$44+ million gross transaction value at its December auction in Toronto, attracting over 8,500 online bidders from 65 countries. The auction featured more than 3,400 items, with 84% purchased by Canadian buyers. The company noted a 108% increase in watchlisted items year-over-year and a 13% rise in online equipment pageviews. Additionally, Ritchie Bros. has established a new satellite yard in Thunder Bay, enhancing its visibility and service in Ontario. The company plans future events including a Timed Auction on February 8, 2022.
Ritchie Bros. conducted a successful online auction in Fort Worth, attracting over 12,400 bidders from 60+ countries, generating a Gross Transaction Value (GTV) of US$58+ million. The auction, held from December 7-9, featured over 4,000 items, with 93% sold to U.S. buyers. Used equipment prices remain strong, reflecting robust demand in construction and transportation sectors. Ritchie Bros. had five successful online auctions in 2021, yielding over US$315 million in sales.
Ritchie Bros. concluded its 2021 Edmonton auction series, achieving a gross transaction value of CA$53+ million (US$42+ million) from 4,400+ sold items. Over the year, the company sold more than 47,000 items totaling CA$517+ million. The December auction attracted 12,500+ bidders, with 93% of purchases made by Canadian buyers, and notable high-value items included a 2018 Tigercat feller buncher sold for CA$460,000. Demand remains strong, and several upcoming auctions are scheduled, including a Montreal auction with close to 3,000 items.
Ritchie Bros Auctioneers announced that it has priced its senior notes offering totaling US$600 million and C$425 million to fund the acquisition of Euro Auctions and other companies. The 4.750% USD notes will mature on December 15, 2031, and the 4.950% CAD notes will mature on December 15, 2029. The closing is anticipated on December 21, 2021. The offering will provide funds to address acquisition considerations and related fees, with proceeds held in escrow until the acquisition is finalized.
Ritchie Bros Auctioneers (NYSE: RBA, TSX: RBA) announced an offering of approximately $935 million in senior notes. This includes US dollar-denominated notes due 2031 and Canadian dollar-denominated notes due 2029, aimed to fund the recent acquisition of Euro Auctions and other related companies. The proceeds will be held in escrow until transaction completion. The offering is directed at qualified institutional buyers and complies with regulatory exemptions. Ritchie Bros focuses on asset management across various sectors, with an emphasis on leveraging synergies from the acquisition.
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