RB Global Q2 2023 Earnings Report

RB Global announced strong preliminary second quarter 2023 financial results and leadership changes.

Key Takeaways

RB Global reported strong preliminary second quarter 2023 financial results, with GTV increasing 146% year-over-year to $4.1 billion and total revenue increasing 128% year-over-year to $1.1 billion. Net income increased 63% year-over-year to $86.8 million, and adjusted EBITDA increased 126% year-over-year to $307.8 million. Diluted earnings per share decreased 13% to $0.42 per share, while diluted adjusted earnings per share increased 15% to $0.85 per share.

GTV increased 146% year-over-year to $4.1 billion, including $2.2 billion from the IAA acquisition.

Total revenue increased 128% year-over-year to $1.1 billion, including $560.4 million from the IAA acquisition.

Net income increased 63% year-over-year to $86.8 million.

Adjusted EBITDA increased 126% year-over-year to $307.8 million.