Ritchie Bros. has conducted its first Edmonton, AB auction of the year, selling more than 5,000+ equipment items and trucks over three days for CA$69+ million (US$52+ million)—up 15% year over year.
Ritchie Bros. Auctioneers
|Address||9500 Glenlyon Parkway, Burnaby, BC, V5J 0C6, CA|
About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest industrial auctioneer, and one of the world's largest sellers of used equipment for the construction, transportation, agriculture, energy, mining, forestry and other industries. Ritchie Bros.™ asset management and disposition solutions include live unreserved public auctions with on-site and online bidding; EquipmentOne™, an online auction marketplace; Mascus, a global online equipment listing service; private negotiated sales through Ritchie Bros. Private Treaty; and a range of ancillary services, including financing and leasing through Ritchie Bros. Financial Services. Ritchie Bros. has operations in 19 countries, including 45 auction sites worldwide.
Over 800 excavators sold as Ritchie Bros. hits record US$297+ million in world's largest equipment auction
At the Ritchie Bros. auction site in Orlando, FL last week the company hosted its largest auction ever. Over six days the company sold a staggering 13,350+ assets for a record US$297+ million—up seven percent from last year's US$278+ million total.
Ritchie Bros. is celebrating its 60th anniversary in 2018 with multiple leadership awards for members of its executive team. Chief Executive Officer Ravi Saligram was recently recognized as B.C. CEO of the Year (Enterprise Category) by Business in Vancouver and as one of the Executives of the Year by the Best in Biz Awards (Bronze Winner). Ritchie Bros. Senior Vice President Anna Sgro was also singled out, as a Female Executive of the Year by the esteemed Stevie Awards.
Ritchie Bros. Auctioneers Incorporated reported the following results for the three months ended September 30, 2018. Net income attributable to stockholders of $23.1 million increased 125% compared to $10.3 million for the same quarter in 2017. Diluted earnings per share attributable to stockholders increased 133% to $0.21 versus $0.09 in the third quarter of 2017, while diluted adjusted EPS attributable to stockholders(1) (non-GAAP measure) which excludes a $4.9 million gain on sale of an equity accounted for investment and acquisition-related costs, increased 100% to $0.18 from $0.09 in the third quarter of 2017. Other key third quarter highlights included:
Following up on its strong Odessa, TX auction earlier this month, Kruse Energy Auctioneers is back with a two-day auction on October 31 and November 1 in Oklahoma City, OK. More than 2,000 items will be sold in the auction for dozens of owners, including assets for BJ Services and Atlas Drilling.
Winter is coming and contractors are busy getting ready, upgrading and altering their fleets for cold/wet wintery conditions. As a result, hundreds of sellers and thousands of buyers are expected to participate in Ritchie Bros.' next big Edmonton auction on October 23 - 25, 2018.
Ritchie Bros.' latest solution for the market, RB Asset Solutions (rbassetsolutions.com), is a complete end-to-end asset management and disposition system. The new cloud-based SaaS solution brings together a suite of tools and services to help customers better manage, analyze, and sell their assets. From any internet-enabled device, customers will be able to access a complete inventory management system, data analytics and dashboards, branded e-commerce sites, and multiple external sales channels.
Ritchie Bros. Auctioneers Incorporated reported the following results for the three months ended June 30, 2018 (All figures are presented in U.S. dollars): Net income attributable to stockholders of $45.7 million improved 159% compared to $17.6 million for the same quarter in 2017. Diluted earnings per share ("EPS") attributable to stockholders increased 163% to $0.42 versus $0.16 in the second quarter of 2017, while diluted adjusted EPS attributable to stockholders1 (non-GAAP measure) increased 27% to $0.42 from $0.33 in the same respective period.
With its third Edmonton auction of the year, Ritchie Bros. sold close to 7,300 equipment items for CA$95+ million (US$72+ million)—up 32 percent from last year's June sale.