RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros' February Market Trends Report reveals significant price increases in the U.S. truck sector, with truck tractor prices soaring by 65% year-over-year and vocational trucks up 44%. Despite this growth, the company notes a 37% decline in truck tractor sales volumes from 2020, attributed to ongoing supply chain issues like port congestion and workforce shortages. The report emphasizes a strong seller's market, with record bidder participation and steadily rising auction values since January 2019: 77% for used truck tractors and 27% for vocational trucks.

Ritchie Bros. Auctioneers reported a 37% drop in net income to $30.6 million for Q4 2021, with diluted EPS down 39% to $0.27. Despite significant challenges, service revenue rose 6%, driven by a 61% increase in Ritchie Bros. Financial Services. Total revenue decreased 6% to $359.4 million, influenced by a 24% drop in inventory sales. However, the Inventory Management System activations surged 89%, indicating strong market interest. Non-GAAP adjusted EPS fell 7% to $0.50. The company declared a quarterly dividend of $0.25 per share.

Ritchie Bros. Auctioneers (NYSE: RBA) announces the nominations of Carol Stephenson and Mahesh Shah to its Board of Directors, effective at the Annual and Special Meeting on April 27, 2022. Both nominees possess extensive experience in their respective fields, enhancing the board's capabilities to achieve the company's strategic vision. Carol Stephenson has served on multiple public company boards, while Mahesh Shah brings expertise in technology and innovation as EVP at CDK Global. The company also reports the retirement of Bev Briscoe, who has been on the board since 2004.

Thoughtworks has announced a multi-year partnership with Ritchie Bros, aiming to enhance Ritchie Bros' digital transformation and marketplace services. This collaboration will leverage Thoughtworks' expertise in technology and digital solutions to help Ritchie Bros modernize its operations and develop a seamless digital marketplace for commercial assets. The initiative aligns with industry trends of rapidly evolving customer needs, focusing on enhancing customer experiences and driving growth.

Ritchie Bros. will host its premier global auction event in Orlando, Florida, from February 21 to 26, 2022, featuring over 10,000 items from more than 800 companies. The auction includes a diverse range of equipment such as excavators, truck tractors, and forklifts, all sold to the highest bidder. The company is adopting a new bidding format with live online and in-person options, ensuring safety measures are in place. This auction marks a significant event for both buyers and sellers in the heavy equipment market.

Ritchie Bros held its largest agricultural auction ever in Torquay, SK, on January 24-25, 2022, selling over CA$33 million worth of farmland, real estate, and equipment. The auction included 59 parcels totaling over 9,600 acres, featuring record prices. Bidders from 30 countries participated, with 97% of sales going to Canadians. Farmland averaged $416,000 per quarter, a record high. The auction showcased equipment like a 2018 Seedmaster drill selling for CA$440,000. Upcoming auctions will continue to highlight agricultural assets.

Ritchie Bros will host an Inside Edge online discussion panel on February 4, 2022, at 9 a.m. Pacific to analyze equipment industry trends from 2021 and forecasts for 2022. The panel features industry experts discussing topics such as supply chain disruptions, compact equipment trends, and pricing. This free event is open to everyone via Microsoft Teams and aims to connect customers with industry insights. Registration is available at this link.

Ritchie Bros (NYSE: RBA) will host a fourth quarter 2021 earnings conference call on February 18, 2022, at 11:00 a.m. ET. The call will cover the company's earnings results, which will be released on February 17, 2022, after market close. Interested parties can participate via dial-in or listen via webcast. The presentation slides will be available during the call. The earnings call replay will be accessible until March 18, 2022.

For more details, visit Ritchie Bros Investor Relations.

Ritchie Bros has released its January Market Trends Report highlighting significant price increases in used equipment. Medium earthmoving equipment prices surged 45% year-over-year, while aerial equipment saw a 41% increase. The report indicates record auction activity and pricing, with truck tractors rising 65% and excavator median prices reaching $57,500, up 15%. The report reflects a strong seller's market, with the company attracting a record number of bidders in 2021.