RB Global shares rise 3% after higher GTV lifts Q3 revenue

RB Global (RBA) shares rose 3.0% at 9:42 a.m. ET, from a $93.52 close.

RB Global (RBA) reported third-quarter revenue of $1.27 billion, up 17% from a year earlier, as gross transaction value rose 20% to $4.7 billion.

Net income rose 47% to $140.2 million from $95.2 million. Net income available to common stockholders rose to $128.7 million, helped by a one-time $18.2 million excise tax refund tied to the 2023 acquisition of IAA.

Here's how the company did:

• Revenue: $1.27 billion vs. $1.09 billion a year earlier
• Diluted EPS: $0.70 vs. $0.43 a year earlier
• Diluted adjusted EPS: $1.03 vs. $0.93 a year earlier
• Adjusted EBITDA: $370.9 million vs. $327.7 million a year earlier

Sector growth

Automotive GTV rose 18% to $2.53 billion, driven by higher unit volumes, including net market share gains, and higher average selling prices.

GTV in heavy equipment and transportation rose 19% to $1.93 billion, helped by acquisitions that were not in the prior-year period. Excluding those acquisitions, total GTV increased 14%.

Service revenue rose 10% to $927.9 million, driven by higher GTV. The service revenue take rate fell 186 basis points to 19.8%, mainly reflecting portfolio mix, including acquisitions, divestitures and growth in automotive remarketing.

Inventory sales revenue rose 40% to $346.5 million, mainly due to higher heavy equipment and transportation volumes. The inventory rate increased 54 basis points to 5.2%.

Costs and charges

Adjusted EBITDA rose 13%, driven by GTV growth and higher contribution from inventory returns. Higher operating expenses and the lower take rate partly offset those gains.

Acquisition-related and integration costs were $7.8 million, and restructuring costs were $1.6 million.

Trend and capital returns

Revenue has risen in each of the last three quarters, from $1.09 billion in the third quarter of 2025 to $1.32 billion in the second quarter of 2026.

The company bought back about 3.9 million shares for $350.0 million in the quarter. Since launching its normal course issuer bid in the first quarter of 2026, it has repurchased about 5.4 million shares for $500.0 million. As of Sept. 30, 2026, $500.0 million remained available under the program.

The company declared a quarterly cash dividend of 33 cents per share on Nov. 6, payable Dec. 17 to shareholders of record on Nov. 25.

2026 outlook

The company updated its full-year 2026 outlook against the outlook it gave on Aug. 4. In October, it expected 2026 results at the high end of its outlook range.

CEO Jim Kessler said, 'We remain committed to gaining market share.'