RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros. Auctioneers reported impressive financial results for Q3 2022, with total revenue rising 25% year-over-year to $411.5 million and net income increasing 33% to $42.9 million. Service revenue grew 15% to $246.7 million, contributing to an improved earnings per share of $0.38, up 31%. Gross transaction value (GTV) also increased 7% to $1.4 billion, driven by a rebound in lot volumes. Notably, the company declared a quarterly cash dividend of $0.27, payable on December 14, 2022, reinforcing its commitment to shareholder returns.

From October 25 to 28, Ritchie Bros. held its fifth auction in Edmonton, attracting over 16,500 bidders from more than 40 countries. The auction featured over 10,000 items, generating a gross transaction value exceeding CA$99 million (US$73 million). Around 92% of the items were sold to Canadian bidders, with 61% purchased by Albertans. Notable sales included a 2021 John Deere feller buncher for CA$540,000. Ritchie Bros. continues to leverage technology to enhance auction processes, indicating strong demand for equipment in the market.

Ritchie Bros. reported a strong performance in 2022, selling over 11,000 aerial equipment units in the U.S. and Canada, including 9,600+ units in the U.S. alone. While boom lift sales remained flat compared to 2021, scissor lift sales increased slightly, and telehandlers saw a minor decline. Prices for aerial equipment rose by 3% year-over-year in the U.S. and 4% in Canada for Q3 2022. Despite increased pricing trends, month-over-month changes have declined since earlier peaks this year, indicating a mixed outlook in the market.

Ritchie Bros is set to host its annual global auction event in Orlando, FL, from February 20-24, 2023, showcasing over 200 acres of equipment and trucks. This premier auction attracts bidders worldwide, generating hundreds of millions for consignors. Bidding options include both online and in-person formats, with additional services such as financing and warranties offered. The event aims to enhance networking and leverage advanced technologies for a seamless experience. For auction details and consignments, visit rbauction.com/Orlando.

Ritchie Bros (NYSE: RBA) will release its third quarter financial results on November 7, 2022, before market open. A conference call to discuss these results will occur at 8:00 a.m. ET the same day. Interested parties can access the call via a toll-free number or through a live webcast. The company, established in 1958, specializes in managing and disposing of assets related to heavy equipment across various sectors including construction and transportation. More information is available at RitchieBros.com.

Ritchie Bros. has released its September Market Trends Report, revealing a steady volume of oil and gas support equipment sales in North America since January 2021. Over 47,000 items were sold, with significant fluctuations in pricing observed quarterly. The report indicates that truck tractor prices rose 18% year-over-year, while other categories, such as large earthmoving equipment, saw increases of 9%. Despite recent declines in month-over-month prices, retail values continued a 22-month upward trend, rising by 2.3% in August.

Ritchie Bros. held a successful online auction from September 7-9, 2022, selling over 8,300 items for a gross transaction value of CA$76+ million (US$58+ million), representing a 29% increase from the previous year. Attracting more than 14,600 bidders from 46 countries, around 94% of the items were sold to Canadian buyers, including 59% to Albertans. The auction featured significant items such as a Komatsu dozer sold for CA$400,000. Over 1,100 consignors participated, showcasing strong demand and pricing for equipment in the market.

Ritchie Bros. conducted a successful online auction in Houston from August 23-25, 2022, attracting over 11,290 bidders globally and selling more than 4,980 items for a total gross transaction value exceeding US$54 million. Key sales included a 2019 Caterpillar excavator sold for US$260,000 and a 2021 Cat wheel loader for US$200,000. Approximately 89% of the equipment was purchased by U.S. buyers, with a significant share from Texas. The company announced more auctions upcoming, including a sale in Fort Worth on September 20-22, featuring oil and gas-related equipment.