RB Global: Strong Q2 Results, Positive Outlook for Q4 2024

RB Global, Inc. (NYSE: RBA) (TSX: RBA), a leading omnichannel marketplace for commercial assets and vehicles, has announced that it will release its fourth-quarter and full-year 2024 financial results after market close on Tuesday, February 18, 2025. The company will also host a conference call to discuss its results at 4:30 p.m. Eastern time on the same day. Analysts and institutional investors can pre-register for the conference call through a provided registration link, and the event will be accessible via live audio webcast, with an archived replay available through RB Global's Investor Relations website.

RB Global's strong performance in the second quarter of 2024, as reported in August 2024, sets the stage for a positive outlook for the fourth quarter of 2024. The company's GTV decreased by 1% year-over-year to $4.1 billion, while total revenue decreased by 1% to $1.1 billion. However, service revenue increased by 7% to $859.1 million, and the service revenue take rate increased by 140 basis points (bps) to 20.9%. This growth in service revenue and take rate can be attributed to the company's expansion of digital platforms and auction sites, innovative technology platforms, data-driven intelligence, and strong operational leverage.



RB Global's inventory sales revenue and return rate have shown fluctuations in recent quarters. In the second quarter of 2024, inventory sales revenue decreased by 21% year-over-year to $237.0 million, driven by a decline in the automotive and construction sectors. However, the company's inventory return rate increased significantly, from 8.5% in the second quarter of 2023 to 14.3% in the second quarter of 2024. This increase can be attributed to changes in market demand, economic conditions, and the company's strategic focus on specific asset classes.



Looking ahead to the fourth quarter of 2024, RB Global has updated its full-year 2024 outlook for select financial data. The company expects GTV growth to be between 0% and 2%, which is an improvement from the previous outlook of 1% to 4%. This suggests that RB Global is anticipating a rebound in GTV growth in the fourth quarter. Additionally, the company has increased its outlook for adjusted EBITDA to a range of $1,220 to $1,270 million, indicating that it expects to maintain strong profitability in the fourth quarter.

In conclusion, RB Global's strong performance in the second quarter of 2024, coupled with its positive outlook for the fourth quarter, suggests that the company is well-positioned to continue its growth trajectory. Investors should closely monitor the company's financial results and conference call to gain further insights into its performance and strategic initiatives.