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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. 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.
Ritchie Bros achieved a record-breaking auction with over 12,000 bidders from 66 countries, generating more than US$54 million from 4,150+ items at the Rocky Mountain Regional Auction on March 3-4, 2021. This marked the largest auction in the region's history. The auction featured significant sales including six John Deere excavators for US$1.17 million and two Caterpillar trucks for US$840,000. Online bidding saw a 33% rise in pageviews compared to December 2020, indicating a robust demand for equipment. Approximately 93% of sales were made to U.S. buyers, further solidifying the company's market position.
Ritchie Bros. will host free online industry panels on March 8, focusing on construction and transportation sectors. The panels will provide insights on macro trends like 'last mile transport' and supply/demand metrics influenced by the new U.S. administration. Key speakers include company executives and industry experts from ACT Research and AED. This initiative aims to leverage Ritchie Bros.' extensive data and expertise to enhance customer efficiency in buying and selling equipment. The online event will be accessible via Microsoft Teams Live Events.
Ritchie Bros reported strong auction results from its recent event in Edmonton, AB, generating over CA$53 million (US$42 million) from the sale of 5,100+ items. The auction attracted over 17,000 bidders, a 50% increase from the same period last year, showcasing heightened demand for heavy equipment. Notable sales included a 2014 Volvo dump truck for CA$382,500. Moreover, the auction set new records for online engagement, including 1.7 million page views. Approximately 94% of the equipment sold was purchased by Canadian buyers, indicating robust local market activity.
Ritchie Bros. reported a record-breaking online auction in Orlando, Florida from February 15 to 20, 2021, selling over 12,000 items for more than US$191 million. The auction attracted over 22,700 online bidders from more than 80 countries, reflecting strong global demand for equipment. Pricing trends remained robust across various categories, including truck tractors and skid steers. The company implemented new technology and services to enhance the auction experience, ensuring safety during the COVID-19 pandemic. The event marked a 15% increase in performance compared to expectations.
Ritchie Bros. Auctioneers (NYSE: RBA) reported its Q4 and full-year 2020 results. Net income fell 5% to $48.9 million, while adjusted net income rose 13% to $54.3 million. Total revenue for Q4 increased 15% to $383.4 million. The company saw a 33% rise in inventory sales revenue, with consolidated full-year revenue up 4% to $1.4 billion. The firm acquired Rouse Services at a cost of approximately $275 million. The quarterly dividend was declared at $0.22 per share, payable on March 5, 2021. Overall, the results reflect resilience amid pandemic-induced challenges.
Ritchie Bros. conducted a record-setting online auction in Houston, attracting over 14,900 bidders from 71 countries, reflecting a 68% increase year-over-year. The auction resulted in a gross transaction value exceeding US$47 million, with more than 4,600 items sold. Key auction statistics include a 70% rise in total equipment pageviews and a 112% increase in per lot pageviews compared to last year. Notable sales included a 2000 Liebherr crane sold for US$505,000. Approximately 61% of the equipment was purchased by out-of-state buyers.
Ritchie Bros. is conducting its annual Orlando auction entirely online from February 15 to 20, 2021, due to COVID-19 safety measures. Over 5,000 PriorityBids have already been placed on 12,000 items. The PriorityBid feature allows customers to submit maximum bid amounts secretly, with notifications for outbidding. In-person inspections are available on-site, and enhancements for this year include earlier PriorityBid access and video inspections for some assets. The auction emphasizes convenience and dynamic bidding options for participants.
Ritchie Bros. (NYSE: RBA) announced the departure of Karl Werner, President, International, effective March 31, 2021, after 25 years with the company. Kari Taylor, President, North America Sales, will assume the new role of Chief Revenue Officer to drive global sales growth. CEO Ann Fandozzi expressed gratitude towards Werner for his contributions and confidence in Taylor's leadership to maintain customer focus.
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