RB Global Q2 2023 Earnings Report
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.
RB Global
RB Global
Forward Guidance
The Company expects GTV growth in the third quarter to be low- to mid-single digits year-over-year on a combined basis.