RB Global Reports134% Revenue Surge in Q4 2023

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.