RB Global, Inc. - RBA STOCK NEWS

Ritchie Bros reported strong price increases in the U.S. equipment market for March 2021, with truck tractor prices up by 20% and medium earthmoving equipment by 15% year-over-year. The company highlighted unprecedented demand and pricing across nearly all equipment categories, with significant upticks noted for excavators, dozers, and articulated dump trucks. The April 2021 Market Trends summary reflects extensive sales activity, including approximately 15,000 equipment items sold across three regional auctions, attracting 11,000 bidders each.

Ritchie Bros has integrated its appraisal services with Rouse Services following its acquisition last year, forming Rouse Appraisals. This new team combines over 100 years of experience and utilizes the industry's richest dataset, offering appraisals for various needs including asset-based lending and M&A support. Managed by Raffi Aharonian, Rouse Appraisals aims to assist clients throughout an asset's lifecycle. The services are accessible through Ritchie Bros' RB Asset Solutions, enhancing customer connection to appraisal and sale processes.

Ritchie Bros. has announced that its inspection services completed over 600,000 equipment inspections in 2020, involving more than 15 million photos and extensive oil sample analysis. This achievement underscores Ritchie Bros.'s commitment to providing comprehensive asset management and transaction solutions beyond traditional auctions. The company has developed innovative services like RB Asset Solutions, aimed at optimizing asset lifecycle management. This positions Ritchie Bros. as a leader in the industry, equipped to meet the evolving needs of its customer base.

Ritchie Bros achieved over US$52 million in its recent Midwest auction held on March 30-31, 2021, with more than 5,000 equipment items sold. The event drew over 11,100 bidders from 70+ countries, showcasing a 26% increase in registrations compared to the previous auction. U.S. buyers accounted for approximately 90% of total sales. Notable sales included a 2016 Caterpillar 745C dump truck that fetched US$235,000. The company continues to enhance its hybrid live/online auction model, with upcoming events planned in Houston on April 13-14.

Ritchie Bros held a successful 100% online auction on March 23-24, 2021, selling over 5,700 items for more than US$55 million. The event attracted more than 11,000 bidders from over 80 countries, showcasing strong interest with 933,000 pageviews and a 24% rise in watchlists. Key sales included a Manitowoc crane for US$305,000 and a Caterpillar excavator for US$175,000. The majority of bids came from U.S. buyers, with significant participation from international bidders. Ritchie Bros continues to expand its digital auction platforms, enhancing global reach and demand.

Ritchie Bros. recently held its largest Texas auction, achieving US$95 million in gross transaction value, a 17% increase over the previous record. The auction, held on March 17-18, 2021, attracted over 16,000 bidders from 79 countries, marking a 76% increase in participation year over year. U.S. buyers accounted for 83% of sales, with Texas buyers making up 34%. The event featured more than 5,800 lots and saw significant increases in online engagement, such as 157% in PriorityBids. Ritchie Bros. plans more auctions in the upcoming weeks.

Ritchie Bros recently conducted its largest online auction in Toronto from March 9-11, generating over CA$49 million (US$39 million) in gross transaction value, a new record. The event attracted 10,000 bidders, a 35% increase from last year, and saw 4,300 items sold, including significant sales of trucks and construction equipment. The auction highlighted strong pricing despite market supply constraints, demonstrating heightened demand with a 48% rise in pageviews and 66% more watchlist adds. The company's strategy in leveraging online bidding continues to yield substantial results for consignors.

Ritchie Bros. has been awarded new surplus term sale contracts by the U.S. Department of Defense's Defense Logistics Agency (DLA) for rolling and non-rolling stock assets. These contracts, which span two years with three one-year renewal options, will enhance the GovPlanet marketplace, which has successfully sold 75,000 items from the DLA last year alone. CEO Ann Fandozzi highlighted the importance of this relationship for GovPlanet's growth, while President Jeff Jeter noted the marketplace's ability to reach a broader buyer base, fortifying returns for the DLA's surplus assets.

Ritchie Bros. reported a strong performance in 2020, transitioning to 100% online bidding amidst global challenges. The latest Market Trends summary highlights significant price increases in key equipment categories: U.S. truck tractor prices rose by 15%, vocational trucks by 10%, and heavy equipment by 5%. The demand for truck tractors surged, with an 18% increase in sales volume compared to 2019, indicating sustained market interest. Median quarterly pricing improved steadily throughout the year, reflecting robust demand in both construction and transportation sectors.