RB Global Ord Shs Stock Price, News & Analysis

Ritchie Bros held a successful 100% online auction on March 23-24, 2021, selling over 5,700 items for more than US$55 million. The event attracted more than 11,000 bidders from over 80 countries, showcasing strong interest with 933,000 pageviews and a 24% rise in watchlists. Key sales included a Manitowoc crane for US$305,000 and a Caterpillar excavator for US$175,000. The majority of bids came from U.S. buyers, with significant participation from international bidders. Ritchie Bros continues to expand its digital auction platforms, enhancing global reach and demand.

Ritchie Bros. recently held its largest Texas auction, achieving US$95 million in gross transaction value, a 17% increase over the previous record. The auction, held on March 17-18, 2021, attracted over 16,000 bidders from 79 countries, marking a 76% increase in participation year over year. U.S. buyers accounted for 83% of sales, with Texas buyers making up 34%. The event featured more than 5,800 lots and saw significant increases in online engagement, such as 157% in PriorityBids. Ritchie Bros. plans more auctions in the upcoming weeks.

Ritchie Bros recently conducted its largest online auction in Toronto from March 9-11, generating over CA$49 million (US$39 million) in gross transaction value, a new record. The event attracted 10,000 bidders, a 35% increase from last year, and saw 4,300 items sold, including significant sales of trucks and construction equipment. The auction highlighted strong pricing despite market supply constraints, demonstrating heightened demand with a 48% rise in pageviews and 66% more watchlist adds. The company's strategy in leveraging online bidding continues to yield substantial results for consignors.

Ritchie Bros. has been awarded new surplus term sale contracts by the U.S. Department of Defense's Defense Logistics Agency (DLA) for rolling and non-rolling stock assets. These contracts, which span two years with three one-year renewal options, will enhance the GovPlanet marketplace, which has successfully sold 75,000 items from the DLA last year alone. CEO Ann Fandozzi highlighted the importance of this relationship for GovPlanet's growth, while President Jeff Jeter noted the marketplace's ability to reach a broader buyer base, fortifying returns for the DLA's surplus assets.

Ritchie Bros. reported a strong performance in 2020, transitioning to 100% online bidding amidst global challenges. The latest Market Trends summary highlights significant price increases in key equipment categories: U.S. truck tractor prices rose by 15%, vocational trucks by 10%, and heavy equipment by 5%. The demand for truck tractors surged, with an 18% increase in sales volume compared to 2019, indicating sustained market interest. Median quarterly pricing improved steadily throughout the year, reflecting robust demand in both construction and transportation sectors.

Ritchie Bros achieved a record-breaking auction with over 12,000 bidders from 66 countries, generating more than US$54 million from 4,150+ items at the Rocky Mountain Regional Auction on March 3-4, 2021. This marked the largest auction in the region's history. The auction featured significant sales including six John Deere excavators for US$1.17 million and two Caterpillar trucks for US$840,000. Online bidding saw a 33% rise in pageviews compared to December 2020, indicating a robust demand for equipment. Approximately 93% of sales were made to U.S. buyers, further solidifying the company's market position.

Ritchie Bros. will host free online industry panels on March 8, focusing on construction and transportation sectors. The panels will provide insights on macro trends like 'last mile transport' and supply/demand metrics influenced by the new U.S. administration. Key speakers include company executives and industry experts from ACT Research and AED. This initiative aims to leverage Ritchie Bros.' extensive data and expertise to enhance customer efficiency in buying and selling equipment. The online event will be accessible via Microsoft Teams Live Events.

Ritchie Bros reported strong auction results from its recent event in Edmonton, AB, generating over CA$53 million (US$42 million) from the sale of 5,100+ items. The auction attracted over 17,000 bidders, a 50% increase from the same period last year, showcasing heightened demand for heavy equipment. Notable sales included a 2014 Volvo dump truck for CA$382,500. Moreover, the auction set new records for online engagement, including 1.7 million page views. Approximately 94% of the equipment sold was purchased by Canadian buyers, indicating robust local market activity.

Ritchie Bros. reported a record-breaking online auction in Orlando, Florida from February 15 to 20, 2021, selling over 12,000 items for more than US$191 million. The auction attracted over 22,700 online bidders from more than 80 countries, reflecting strong global demand for equipment. Pricing trends remained robust across various categories, including truck tractors and skid steers. The company implemented new technology and services to enhance the auction experience, ensuring safety during the COVID-19 pandemic. The event marked a 15% increase in performance compared to expectations.