RB Global Q4 2023 Earnings Report
Key Takeaways
RB Global reported a significant increase in GTV and revenue for Q4 2023, primarily driven by the acquisition of IAA. The company saw substantial growth in service revenue and net income, with diluted earnings per share also increasing. The integration of IAA is progressing, contributing to operational improvements and a broader focus on excellence.
GTV increased by 160% year-over-year to $4.0 billion, including $2.2 billion from the IAA acquisition.
Total revenue increased by 134% year-over-year to $1.0 billion, with $559.2 million from IAA.
Service revenue increased by 197% year-over-year to $809.1 million, including $488.0 million from IAA.
Net income available to common stockholders increased by 65% year-over-year to $74.8 million.
RB Global
RB Global
Forward Guidance
The Company's outlook for select full-year 2024 financial data: GTV growth between 4% and 1%, Adjusted EBITDA between $1,170 and $1,230 millions, Full year 2024 tax rate (GAAP and Adjusted) between 25% and 28%, Capital Expenditures between $275 and $325 millions.