Ritchie Bros Auctioneers: Q2 Earnings Insights

Shares of Ritchie Bros Auctioneers RBA fell in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 1.85% year over year to $0.55, which missed the estimate of $0.61.

Revenue of $396,361,000 rose by 1.88% from the same period last year, which missed the estimate of $416,780,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

Company's 52-week high was at $78.64

52-week low: $46.39

Price action over last quarter: down 12.36%

Company Overview

British Columbia-based Ritchie Bros. operates the world's leading marketplace for heavy equipment. Started in 1958 as a live auctioneer of industrial equipment, it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment in a variety of venues. It now operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. In 2020, the company held 315 auctions, selling over $5 billion worth of equipment.