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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. Auctioneers reported a 15% increase in net income to $60.7 million for Q2 2021, with diluted earnings per share rising to $0.55. Total revenue grew 2% to $396.4 million, driven by an 8% rise in service revenue despite a 7% decline in inventory sales revenue. Operating income slightly increased to $89.5 million, while SG&A expenses rose by 11% to $111.8 million. The company declared a quarterly dividend of $0.25 per share, marking a 14% increase. The performance benefited from strategic digital initiatives and improved GTV, although some inventory sales challenges were noted due to market conditions.
Ritchie Bros. held a successful auction in Fort Worth, Texas, on July 20-21, 2021, generating over US$50 million in sales for more than 3,750 items. The online auction attracted over 11,250 registered bidders, with 90% of sales going to U.S. buyers, including 40% to Texans. Notable sales included a 2014 Kobelco CK1100G crawler crane sold for US$365,000. The company plans additional auctions in Houston next month and Fort Worth in September, responding to increased demand for online buying.
Ritchie Bros. is set to host an Inside Edge industry panel on July 27, 2021, at 12 p.m. Pacific to discuss key factors in the transportation market, including OEM production delays, driver shortages, and rising truck prices, which have surged by 30% year-over-year. Featured panelists include industry experts such as Steve Tam from ACT Research and Stacey Jenkins from the Toronto Transportation Association. To participate, register via rbauction.com.
Ritchie Bros. reports a robust seller's market in its July 2021 Market Trends report, revealing truck tractor prices in the U.S. have surged by 30% year-over-year. In Canada, medium earthmoving and vocational truck prices increased by 25%. The report highlights strong demand for tandem-axle truck tractors, particularly 6-year-old models in the U.S. and 4-year-old models in Canada. The median price for popular Freightliner Cascadia models rose more than 45% in the first half of 2021 compared to 2020.
Ritchie Bros (NYSE: RBA) announced its Second Quarter 2021 earnings conference call scheduled for August 6, 2021, at 11:00 a.m. Eastern. The earnings results will be released on August 5, 2021, after the markets close. Analysts and institutional investors can join the call via designated dial-in numbers. A live webcast will be available, along with presentation slides. A replay of the call will be accessible until September 6, 2021. Established in 1958, Ritchie Bros operates in various sectors, providing end-to-end solutions for buying and selling heavy equipment.
Ritchie Bros. is set to conduct its largest-ever auction for Barrilleaux Inc. on August 10-11, 2021, in New Mexico and Texas. Following 36 years in business, Barrilleaux Inc. will sell tens of millions of dollars worth of construction equipment without minimum bids or reserves. The auction will feature late-model machinery, including directional drills, pipelayers, excavators, and trucks. Equipment inspection is available at locations in Carlsbad, NM, and Oakwood, TX. This event marks a significant opportunity for buyers in the pipeline construction sector.
Ritchie Bros. reported a successful auction held from June 23-25, 2021, in Edmonton, generating over CA$70 million (US$56 million) from the sale of 8,500+ items. The auction attracted nearly 15,000 bidders from 64 countries, with 92% of the equipment sold to Canadian buyers, especially from Alberta. Key sales included a 2018 Caterpillar D6T LGP dozer for CA$472,500. The company continues to see strong demand for well-maintained equipment as the construction season ramps up in Alberta, with additional upcoming auctions planned.
The Ritchie Bros auction held in Houston on June 15-16, 2021, showcased a remarkable 30% increase in gross transaction value and bidder registrations from the previous year, totaling over US$56 million in gross transaction value (GTV) with 12,000 bidders competing for more than 4,000 items.
Notably, approximately 87% of the equipment was purchased by U.S. buyers, while international participation contributed 13%. The auction observed strong pricing, particularly for truck tractors and pipelayers, driven by unprecedented demand.
On June 29, Ritchie Bros will auction the first-ever Gentleman Jack bike produced, a limited edition Indian Roadmaster Dark Horse. This unique motorcycle, designed in collaboration with Jack Daniel's, features whiskey pearl paint and is one of only 107 units made. Proceeds from the sale will benefit the Armed Services YMCA's Operation Ride Home program, which has raised over $1.8 million since 2011, helping military families reunite. The auction will take place at Ritchie Bros’ Southeast Regional online auction on June 29.
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