Ritchie Bros Auctioneers Inc
TSX:RBA
Ritchie Bros Auctioneers Inc
In the competitive realm of industrial auctions, Ritchie Bros Auctioneers Inc. has carved out a unique niche, transforming the way heavy equipment and trucks are bought and sold. Founded in Kelowna, British Columbia in 1958, the company initially began as a small-scale auctioneering partnership. Over the decades, it evolved into a global leader in asset management and disposition, renowned for its unreserved public auctions where every item is sold to the highest bidder without minimum price restrictions. This unreserved nature works as a key catalyst, generating excitement and encouraging competitive bidding among buyers from a diverse array of industries, including construction, agriculture, and transportation. Online and onsite auction platforms further amplify their reach and accessibility, offering real-time access to goods for bidders worldwide.
Ritchie Bros generates most of its revenue from commissions and fees earned on successful auctions. Whether it's a large-scale industrial auction at one of their international facilities or a specialized online event, the company provides a full suite of services to sellers, including appraisals, inventory management, transportation, and refurbishing, effectively positioning itself as a comprehensive solution provider. Their diversification into digital marketplaces, such as the acquisition of IronPlanet, has provided an added dimension to their business model, allowing Ritchie Bros to leverage technology to enhance efficiency and scale operations. Through these multifaceted approaches, the company ensures robust market engagement, facilitating billions of dollars in transaction volumes annually and cementing its reputation as a trusted partner for companies looking to manage their assets effectively.
In the competitive realm of industrial auctions, Ritchie Bros Auctioneers Inc. has carved out a unique niche, transforming the way heavy equipment and trucks are bought and sold. Founded in Kelowna, British Columbia in 1958, the company initially began as a small-scale auctioneering partnership. Over the decades, it evolved into a global leader in asset management and disposition, renowned for its unreserved public auctions where every item is sold to the highest bidder without minimum price restrictions. This unreserved nature works as a key catalyst, generating excitement and encouraging competitive bidding among buyers from a diverse array of industries, including construction, agriculture, and transportation. Online and onsite auction platforms further amplify their reach and accessibility, offering real-time access to goods for bidders worldwide.
Ritchie Bros generates most of its revenue from commissions and fees earned on successful auctions. Whether it's a large-scale industrial auction at one of their international facilities or a specialized online event, the company provides a full suite of services to sellers, including appraisals, inventory management, transportation, and refurbishing, effectively positioning itself as a comprehensive solution provider. Their diversification into digital marketplaces, such as the acquisition of IronPlanet, has provided an added dimension to their business model, allowing Ritchie Bros to leverage technology to enhance efficiency and scale operations. Through these multifaceted approaches, the company ensures robust market engagement, facilitating billions of dollars in transaction volumes annually and cementing its reputation as a trusted partner for companies looking to manage their assets effectively.
EBITDA Beat & Guidance: RB Global raised its full year 2025 adjusted EBITDA guidance to a range of $1.35–$1.38 billion, reflecting strong operational discipline and savings from its new operating model.
GTV Growth: Gross transaction value (GTV) grew 7% year-over-year, with commercial construction and transportation GTV up 14% (excluding last year’s Yellow Corp bankruptcy impact).
Automotive Volume & Share: Automotive unit volume increased 9% year-over-year, marking three consecutive quarters of market share gains.
Major GSA Win: RB Global announced a major expansion with the U.S. General Services Administration, adding approximately 35,000 remarketed vehicles annually starting full run rate in Q2 2026.
Margin Expansion: Adjusted EBITDA margin as a percentage of GTV rose to 8.4%, up from 7.8% last year, thanks to higher service revenue take rate and cost efficiencies.
Strategic M&A: The company entered a $38 million deal to acquire Smith Broughton Auctioneers and Allied Equipment Sales, expanding its footprint in Western Australia.
Operating Model Savings: The new operating model is expected to yield over $25 million in run rate savings by Q2 2026.
