RB Global reports third quarter 2024 results

Third Quarter Financial Highlights ^1,2,3 :

• Total gross transaction value (“GTV”) decreased 7% year-over-year to $3.6 billion.
• Total revenue decreased 4% year-over-year to $981.8 million.
• Service revenue increased 1% year-over-year to $779.9 million.
• Inventory sales revenue decreased 18% year-over-year to $201.9 million.
• Net income increased 20% year-over-year to $76.0 million.
• Net income available to common stockholders increased 22% year-over-year to $66.9 million.
• Diluted earnings per share available to common stockholders increased 20% to $0.36 per share.
• Diluted adjusted earnings per share available to common stockholders decreased 1% year-over-year to $0.71 per share.
• Adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) decreased 1% year-over-year to $283.7 million.

2024 Financial Outlook

The Company has updated its full-year 2024 outlook for select financial data, as shown below:

The Company has not provided a reconciliation of Adjusted EBITDA outlook for fiscal 2024 to GAAP net income, the most directly comparable GAAP financial measure, because without unreasonable efforts, it is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate Adjusted EBITDA, including but not limited to: (a) the net loss or gain on the sale of property plant & equipment or other assets, (b) acquisition-related or integration costs relating to our mergers and acquisition activity, including severance costs, (c) other legal, advisory, restructuring and non-income tax expenses, (d) share-based payments compensation expense which value is directly impacted by the fluctuations in our share price and other variables, and (e) other expenses that we do not believe are indicative of our ongoing operations. These adjustments are uncertain, depend on various factors that are beyond our control and could have a material impact on net income for fiscal 2024.