RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros' June Market Trends Report highlights a year-over-year increase in truck tractor prices, up 46% in the U.S. and 34% in Canada. However, both countries have seen a decline in the rate of price increases by 6 and 9 percentage points, respectively. This is attributed to declining spot rates and rising diesel prices, with van and reefer rates dropping between 13-14% over the past six months. Additionally, the median price for Freightliner Cascadia trucks in the U.S. decreased by 7% from earlier this year, despite a price increase for similar units in Canada.

Ritchie Bros. Energy, based in Fort Worth, Texas, is enhancing transaction solutions for the oil and gas industry. Transitioning from the Kruse Energy brand, the company aims to provide more auction options and services for sellers and buyers. The first Ritchie Bros. Energy event is set for September, coinciding with their Fort Worth auction, expected to attract over 12,000 bidders. Recent trends show a 20-30% price increase in drill pipes, reflecting growing demand for drilling rigs, indicating a robust market environment.

Ritchie Bros. Auctioneers (NYSE: RBA, TSX: RBA) has announced the appointment of Eric Jacobs as its new Chief Financial Officer effective June 6, 2022. He succeeds Sharon Driscoll, who will remain in an advisory role until her retirement. Jacobs brings extensive experience in digital marketplaces, having served as CFO for Wheels Up Experience Inc. and held senior roles at Cox Automotive and Dealertrack Technologies. Ritchie Bros. continues to focus on becoming a leading global marketplace for asset management and transaction solutions.

Ritchie Bros. recently held two record-breaking regional auctions, the Rocky Mountain Event and the B.C. Regional Event, netting over US$92 million in total sales. The Rocky Mountain auction sold US$65+ million worth of equipment with more than 11,000 bidders, while the B.C. event achieved CA$35+ million (US$27+ million) in sales with 6,500+ bidders. Both events set new records for gross transaction values in their respective regions, highlighting a strong demand for high-quality, low-hour construction equipment.

Zayo Group Holdings has appointed Lisa Hook to its board of directors. Hook, a former President and CEO of Neustar, brings extensive experience in cloud infrastructure, telecommunications, and digital marketing. During her eight years at Neustar, she held key leadership positions, including on its board since 2010. Currently, she serves on the boards of Fidelity National Information Services (FIS), Philip Morris International (PM), and Ritchie Brothers Holdings (RBA). Hook aims to enhance Zayo's growth in the rapidly evolving communication infrastructure landscape.

Ritchie Bros conducted its second auction in Fort Worth, TX from May 17-19, 2022, attracting over 11,100 bidders and generating more than US$60 million in gross transaction value, representing a 9% year-over-year increase. The auction featured over 4,350 items from 700 consignors, with approximately 93% of purchases made by American buyers. Notable sales included a 2019 Komatsu excavator for US$570,000 and a 2022 K-Tec scraper pan sold for US$205,000, with proceeds donated to Habitat for Humanity. Upcoming auctions include events in June and July in various locations.

On May 17, 2022, Ritchie Bros. released its May Market Trends Report, indicating a year-over-year equipment price rise of approximately 14% for the three months ending April 2022. Despite ongoing price inflation, the month-to-month inflation rate in the U.S. is showing signs of slowing. Truck tractor prices increased by 52% year-over-year, while the large earthmoving index rose 18% in the U.S. and 13% in Canada. The report highlighted ongoing tight supply and strong demand for equipment, with prices expected to stabilize.

Ritchie Bros conducted record-breaking auctions in Toronto and Winnipeg, generating over CA$102 million (US$78 million) in sales. The Toronto auction alone fetched CA$71 million (US$54 million), while Winnipeg contributed CA$31 million (US$24 million). Attracting 11,900 bidders across both cities, the auctions also saw a 35% year-over-year increase in gross transaction value. Canadian buyers purchased approximately 91% of sold items in Toronto. The events highlighted the company's robust demand and effective marketing strategies, with significant global participation from bidders.

Ritchie Bros held 45 farm auctions in March and April 2022, attracting over 101,000 global bidders. The company achieved record-breaking sales, including a 155-acre parcel sold for CA$1.33 million and a combined CA$12.9 million for 6,100 acres in Manitoba. Over 5,000 agricultural items were sold, with no minimum bids. Highlights included a 2016 Case IH 620 QuadTrac tractor sold for CA$550,000, the highest price for that model in company history. Ritchie Bros continues to lead in asset management and disposition within the agriculture sector.