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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 (NYSE: RBA) has declared a quarterly cash dividend of US$0.22 per common share, payable on March 5, 2021, to shareholders of record on February 12, 2021. This dividend qualifies as an eligible dividend for Canadian income tax purposes. The company, established in 1958, provides comprehensive asset management and disposition services across various sectors, including construction and energy, through multiple selling platforms such as live auctions and online marketplaces.
Ritchie Bros (NYSE: RBA) will host its fourth quarter 2020 earnings conference call on February 19, 2021, at 11:00 AM Eastern Time. Results will be released on February 18, 2021, after market close. Analysts can join via a dedicated conference line, and a replay will be available from 2:00 PM Eastern Time on the same day until March 6, 2021. The call will include a discussion of earnings results followed by a Q&A session. Interested parties can access a live webcast and presentation slides during the call.
Ritchie Bros. achieved over US$81 million in sales from 20,000 items at two regional auctions held in December 2020. The Great Lakes Regional auction generated US$40 million and the Northeast Regional event brought in US$41 million, attracting thousands of bidders worldwide. Approximately 91% of items were sold to U.S. buyers. Impressively, the Great Lakes auction received over 663,000 unique pageviews. This marked a successful year despite challenges posed by COVID-19, with Ritchie Bros. utilizing online platforms to enhance buyer engagement.
Ritchie Bros. reports a significant boost in online engagement, with website traffic rising by 35% and online bidder registrations up 71% in 2020. The company plans to host its first 100% online mega auction from February 15 to 20, 2021, amid growing demand due to COVID-19. Over 27 million visits were logged on the website, and active bidders made over 300,000 PriorityBids. The Orlando auction site will remain open for in-person inspections while introducing new features to enhance customer experience.
This week, Ritchie Bros held its final auctions of 2020 in Fort Worth and Edmonton, achieving significant sales amidst the pandemic. The Fort Worth auction generated over US$69 million from 5,000+ items sold, while Edmonton raised US$41 million from 5,500+ items. The auctions saw record bidder participation, with Fort Worth attracting 11,700+ bidders, a 40% increase year-over-year. Online demand for equipment remains strong, resulting in a 64% rise in bidder registrations from Fort Worth in 2020. Overall, both sites demonstrated robust sales and demand despite COVID-19 challenges.
Ritchie Bros. has successfully completed its acquisition of Rouse Services, a firm specializing in data intelligence and performance benchmarking solutions. This strategic move aims to enhance data analytics and service offerings for customers in the industrial equipment sector. CEO Ann Fandozzi stated that combining resources will accelerate growth and improve customer services. Rouse will continue to operate from Los Angeles. The deal is expected to strengthen relationships with fleet owners and lenders, positioning Ritchie Bros. as more than just an auction house.
Ritchie Bros. reported stable excavator pricing in 2020, with median prices at $50,000 in Q1 and $47,000 in Q3. Despite COVID-19, demand surged, with over 15,000 excavators sold in the U.S. for more than $850 million since January 2017. Key brands sold included Caterpillar, Komatsu, and John Deere, with 57% of sales going to out-of-state buyers.
The December Market Trends Summary also revealed steady prices for used heavy equipment and notable increases for truck tractors.
Ritchie Bros achieved record results in its recent Grande Prairie auction, selling over 4,900 items for more than CA$82 million (US$63 million), a 32% increase over the previous record set in March 2016. The event attracted over 12,350 bidders from 53 countries, predominantly Canadian buyers. Notable sales included excavators totaling CA$19 million and a unique pink pipelayer sold for CA$245,000, with proceeds donated to charity. These results underscore the company's strong online auction capabilities amid COVID-19 restrictions.
Ritchie Bros has scheduled its 2021 Orlando auction from February 15 to 20, featuring over 13,000 items. In 2020, their auctions transitioned to 100% online, resulting in a 71% increase in bidder registrations and a 35% rise in website traffic. The company reported over $57 billion in purchasing power among online buyers. The upcoming event is expected to attract global participants, with last year's auction seeing registrations from 85 countries. Interested sellers are encouraged to contact Ritchie Bros for participation.
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