RB Global, Inc. (NYSE & TSX: RBA), a leading omnichannel marketplace for commercial assets and vehicles, has reported its fourth-quarter and full-year 2023 results, showcasing strong financial performance and operational growth.
Financial Highlights for Q4 2023: Gross Transaction Value (GTV) surged by 160% year-over-year to $4.0 billion, including a significant impact from the acquisition of IAA, Inc. Total revenue increased by 134% year-over-year to $1.0 billion, driven by the inclusion of revenue from the IAA acquisition. Service revenue experienced a substantial 197% year-over-year increase to $809.1 million, primarily attributable to the impact of the acquisition of IAA. Net income available to common stockholders increased by 65% year-over-year to $74.8 million. * Adjusted EBITDA grew by 153% year-over-year to $307.5 million.
2024 Financial Outlook: RB Global provided an outlook for select full-year 2024 financial data, including GTV growth in the range of 41% to 44% and adjusted EBITDA between $1,170 million and $1,230 million. The company did not provide a reconciliation of adjusted EBITDA outlook for fiscal 2024 to GAAP net income due to the uncertainty of non-GAAP adjustments.
Additional Financial and Operational Highlights: GTV by geography showed robust growth across the United States, Canada, and international markets. * GTV by sector reflected significant increases in automotive, commercial construction and transportation, and other sectors.
Dividend Information: * RB Global declared a quarterly cash dividend of $0.27 per common share, payable on March 1, 2024, to shareholders of record on February 9, 2024.
As a result of these announcements, the company's shares have moved 7.2% on the market, and are now trading at a price of $73.3. For more information, read the company's full 8-K submission here.
