RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros. is set to conduct its largest-ever auction for Barrilleaux Inc. on August 10-11, 2021, in New Mexico and Texas. Following 36 years in business, Barrilleaux Inc. will sell tens of millions of dollars worth of construction equipment without minimum bids or reserves. The auction will feature late-model machinery, including directional drills, pipelayers, excavators, and trucks. Equipment inspection is available at locations in Carlsbad, NM, and Oakwood, TX. This event marks a significant opportunity for buyers in the pipeline construction sector.

Ritchie Bros. reported a successful auction held from June 23-25, 2021, in Edmonton, generating over CA$70 million (US$56 million) from the sale of 8,500+ items. The auction attracted nearly 15,000 bidders from 64 countries, with 92% of the equipment sold to Canadian buyers, especially from Alberta. Key sales included a 2018 Caterpillar D6T LGP dozer for CA$472,500. The company continues to see strong demand for well-maintained equipment as the construction season ramps up in Alberta, with additional upcoming auctions planned.

The Ritchie Bros auction held in Houston on June 15-16, 2021, showcased a remarkable 30% increase in gross transaction value and bidder registrations from the previous year, totaling over US$56 million in gross transaction value (GTV) with 12,000 bidders competing for more than 4,000 items.

Notably, approximately 87% of the equipment was purchased by U.S. buyers, while international participation contributed 13%. The auction observed strong pricing, particularly for truck tractors and pipelayers, driven by unprecedented demand.

On June 29, Ritchie Bros will auction the first-ever Gentleman Jack bike produced, a limited edition Indian Roadmaster Dark Horse. This unique motorcycle, designed in collaboration with Jack Daniel's, features whiskey pearl paint and is one of only 107 units made. Proceeds from the sale will benefit the Armed Services YMCA's Operation Ride Home program, which has raised over $1.8 million since 2011, helping military families reunite. The auction will take place at Ritchie Bros’ Southeast Regional online auction on June 29.

Ritchie Bros. reported strong results from its recent Rocky Mountain auction held on May 26-27, 2021, attracting over 11,600 bidders globally. The auction achieved a Gross Transaction Value (GTV) of over US$54 million, matching a previous record from March 2021. A total of 4,850 equipment items were sold, comprising various heavy machinery including trucks and excavators. Approximately 88% of sales were to U.S. buyers. Future auctions are scheduled in Phoenix, Sacramento, Las Vegas, and Houston, offering more than 50,000 additional items.

Ritchie Bros. held a successful auction in Fort Worth, TX on May 18-19, 2021, attracting over 13,500 bidders from 66 countries and achieving a gross transaction value of US$55+ million. The auction featured 4,300+ equipment items, with significant participation from U.S. buyers, particularly from Texas. The company reported a 52% increase in equipment views per lot compared to last year and noted a strong demand for equipment across all categories, promising high returns for sellers.

Ritchie Bros achieved a record-breaking auction from May 11-13 in Toronto, selling over 4,200 items for CA$53+ million (US$44+ million), surpassing their previous Ontario record. The auction attracted more than 9,200 online bidders from 67 countries, with 89% of sales going to Canadian buyers. Key highlights included top sales of a 2016 Caterpillar wheel loader for CA$390,000 and a 2005 John Deere hydraulic excavator for CA$260,000. The company continues to capitalize on favorable market conditions, encouraging sellers to participate in upcoming auctions.

The Annual Meeting of Shareholders of Ritchie Bros Auctioneers (NYSE: RBA) took place on May 6, 2021, with 84.77% of outstanding shares represented. Key voting outcomes included strong support for board members Erik Olsson, Ann Fandozzi, and others, each receiving over 81 million votes in favor. The results were documented in the Proxy Statement filed on March 23, 2021. Full voting results have been made available on the company’s website and SEDAR.