RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros. has scheduled two major farm auctions in 2022, selling over 15,000 acres of farmland and 300+ equipment items. The sales include 9,681 acres in Torquay, SK, on January 25-26, and 6,091 acres in The Pas, MB, on March 15. Equipment highlights feature top brands like John Deere and Versatile. The auctions present opportunities for farmers and investors, with all items sold unreserved to the highest bidder. Ritchie Bros. aims to attract interest by emphasizing the quality of the land and equipment being offered.

Ritchie Bros conducted its final Orlando auction of 2021 on November 17-18, attracting over 10,400 bidders from 59 countries and surpassing $45 million in gross transaction value. The auction featured 3,300+ items sold, with 93% of sales to U.S. buyers. Notably, truck tractor prices rose 45% year over year, reflecting ongoing strong demand. This auction's bidder registration was up 37% from the previous year, highlighting the growing interest in equipment sales. The company anticipates continued growth with additional auctions scheduled for December.

Ritchie Bros. conducted a successful online auction in Houston from November 9-11, 2021, attracting over 13,200 bidders and generating over US$55 million in gross transaction value from the sale of 4,650+ equipment items and trucks. Approximately 88% of the sold equipment went to U.S. buyers, with notable international participation. The event saw a 33% increase in online views and an 89% rise in watchlists before the auction. The next auction will be in Fort Worth from December 7-10, and Ritchie Bros. will continue to host multiple upcoming auctions across the U.S.

Ritchie Bros. Auctioneers (NYSE: RBA) reported a 29% decline in net income for Q3 2021, totaling $32.3 million, compared to $45.4 million in Q3 2020. Diluted EPS also fell 29% to $0.29 per share. The company saw a 1% decrease in total revenue to $329.7 million, with service revenue down 4%. While inventory sales revenue rose 6%, strong performance in growth initiatives, including a 141% increase in IMS activations, indicated potential for future growth. Ritchie Bros. declared a quarterly cash dividend of $0.25 per share, payable on December 15, 2021.

Ritchie Bros. has successfully closed its acquisition of SmartEquip for approximately US$175 million. SmartEquip enhances Ritchie Bros.' offerings by providing a technology platform for managing equipment lifecycles and parts procurement. This acquisition is expected to improve customer experience and operational efficiency, supporting around $1 billion in annual transaction volume across a wide range of OEM brands. SmartEquip will operate as a standalone entity while leveraging Ritchie Bros.' global customer base for growth.

Ritchie Bros. auctioned over 7,600 items in Edmonton, generating a gross transaction value exceeding CA$85 million (US$69 million) from 17,700+ bidders across 61 countries. The auction, held from October 26 to 28, saw 90% of the items purchased by Canadians, with strong interest in oil and gas equipment. Notable sales included a 2018 Kenworth T800 for CA$505,000 and a 2007 Caterpillar D8T for CA$315,000. The company plans to sell more than 40,000 items in upcoming events, highlighting the robust demand for equipment amid tight supply.

Ritchie Bros. is gearing up for its annual Orlando auction from February 21-26, 2022. This event marks the return of live bidding after two years. Record demand in the market has led to rising prices, with truck tractor prices soaring 46% year over year. The auction expects to attract over 22,000 bidders globally, promoting strong pricing across asset categories. Consignors can pre-list items on Marketplace-E, with unsold items transitioning directly to the February auction. Last year's event generated over $191 million in gross transaction value, highlighting the auction's significance.