RB Global Reports Strong Fourth Quarter Growth

RB Global continues to show promising growth in the new year following a substantial increase in earnings during the last quarter of 2023. This growth can largely be attributed to a significant rise in auction and marketplace proceeds.

Fourth-Quarter Financial Performance###

In the fourth quarter of 2023, RB Global reported a substantial increase in net income, reaching $84.2 million or 41 cents per share, as compared to $45.4 million or 40 cents per share in the previous year. Adjusted per-share earnings also saw a notable increase, reaching 82 cents.

Impressive Increase in Proceeds###

RB Global, a marketplace specializing in commercial assets and vehicles, saw its total proceeds from auctions and online marketplaces more than double, reaching $4.01 billion from $1.54 billion.

Outlook for the New Year###

Looking ahead to the new year, RB Global is anticipating adjusted earnings before interest, taxes, depreciation, and amortization to range between $1.17 billion and $1.23 billion. Additionally, the company projects growth in gross transaction value of 1% to 4%. These estimates represent a significant increase from the adjusted Ebitda of $1.03 billion and the GTV growth of 131% experienced in 2023.

RB Global's strong financial performance and optimistic outlook demonstrate a promising future for the company.