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Mar 31, 2020
RB Global Q1 2020 Earnings Report
Reported a decrease in total revenue but an increase in net income for Q1 2020, successfully transitioning to online formats due to social distancing measures.
Key Takeaways
Ritchie Bros. reported a 10% decrease in total revenue to $273.3 million, driven by a 31% decrease in inventory sales revenue, although service revenue increased by 6%. Net income attributable to stockholders increased by 26% to $22.8 million, with diluted EPS increasing by 24% to $0.21 per share.
GTV decreased 2% to $1.1 billion due to auction postponements and softness in the International region.
Total revenue decreased 10% to $273.3 million, impacted by a 31% decrease in inventory sales revenue, partially offset by a 6% increase in service revenue.
Net income attributable to stockholders increased 26% to $22.8 million.
Diluted EPS attributable to stockholders increased 24% to $0.21 per share.
Forward Guidance
Ritchie Bros. did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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