RB Global reported a 20% increase in gross transaction value to USD 4.7 billion and a 17% increase in revenue to USD 1.3 billion in the third quarter. Adjusted EBITDA increased 13% to USD 371 million and adjusted earnings per share increased 11% to USD 1.03.
RB Global has evolved into a leading global marketplace that connects buyers and sellers of commercial assets and vehicles. It is the result of the 2023 combination of Ritchie Bros. and IAA. Ritchie Bros.' roots were as an auctioneer facilitating transactions of commercial, construction, and transportation equipment (excavators, bulldozers, forklifts, and commercial trucks and trailers). However, it has evolved into an omnichannel marketplace. IAA has similar roots, though primarily focused on the salvage auction segment for consumer automobiles. The group provides ancillary services including title processing, transportation/towing, financing, data and appraisal, and so on. Its activities are international, though skewing approximately two-thirds to North America.