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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. 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.
Ritchie Bros has unveiled a free, cloud-based Inventory Management System (IMS) that allows companies to manage their fleet effectively with easy uploads of assets, photos, and detailed information. This mobile-friendly dashboard helps users track asset conditions, request inspections, and streamline the consignment process. The system aims to enhance operational efficiency and transparency while providing critical insights for better decision-making in asset management.
The upcoming Ritchie Bros auction in Orlando, FL from February 15 to 20, 2021, is set to be entirely online, attracting record registrations.
With a 90% increase in equipment views and over $50 billion in buyer purchasing power, this event promises strong demand.
Last year’s auction saw participation from over 18,000 bidders and included more than 13,000 items. New features like video inspections and enhanced bidding options are expected to improve the auction experience.
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.
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