RB Global's Q1 2025: Unpacking Contradictions on Market Share, Macroeconomic Impacts, and UK Expansion

Market share growth and partner value, impact of macroeconomic uncertainty, expansion in the UK market, synergies from acquisitions, and macroeconomic impact on decision-making are the key contradictions discussed in RB Global's latest 2025Q1 earnings call.



Gross Transactional Value (GTV) Decline:
- RB Global, Inc. reported a 6% decline in GTV for Q1 2025.
- The decline was due to year-over-year comparison issues and macroeconomic uncertainty, particularly uncertainties related to tariffs.

Automotive Sector Growth:
- Automotive GTV increased by 2% in Q1 2025, driven by a 7% increase in unit volumes.
- The growth was driven by strong organic growth from existing partners and an increase in salvage market share.

Commercial Construction and Transportation (CC&T) Sector Decline:
- GTV in the CC&T sector decreased by 18%, driven by a 19% decline in lot volumes.
- The decline was attributed to uncertainty in end markets and customers taking a wait-and-see approach to disposition, exacerbated by shifts in trade policies.

Service Revenue Take Rate Increase:
- Service revenue take rate increased by approximately 150 basis points to 22.3%.
- This increase was driven by a higher average buyer fee rate, offset by a lower average commission rate.

J.M. Wood Acquisition:
- RB Global announced the acquisition of J.M. Wood for approximately $235 million.
- The acquisition enhances geographical coverage in Alabama and adjacent states and brings a talented sales team with deep local relationships, focusing on commercial construction and transportation assets.