RBA · RB Global, Inc.

RB Global delivered a strong first quarter, with GTV increasing 13% year-over-year to $4.3 billion, driven by broad-based strength across all sectors and contributions from recent acquisitions including J.M. Wood and Smith Broughton. The Commercial Construction & Transportation (CC&T) sector led with 27% GTV growth, while Automotive grew 7%. Total revenue rose 11% to $1.23 billion, with service revenue up 5% to $897.7 million and inventory sales revenue surging 32% to $336.9 million. The service revenue take rate declined 160 basis points to 20.7%, reflecting a mix shift toward higher-priced assets and acquired businesses. Inventory rate improved 80 basis points to 9.0%, driven by strong CC&T performance. Net income increased 20% to $135.6 million, and diluted EPS rose 20% to $0.66. Adjusted EBITDA grew 11% to $362.7 million, supported by GTV growth and higher inventory returns, partially offset by higher operating expenses and lower take rate. Management raised full-year 2026 Adjusted EBITDA guidance to $1,485-$1,545 million and GTV growth outlook to 6%-9%. CEO Jim Kessler highlighted the company's focus on consistent execution amid a fluid macroeconomic environment. Additionally, the company declared a quarterly dividend of $0.31 per share and provided updates on acquisitions: the pending acquisition of BigIron Auction Company received early HSR termination and is expected to close in Q2 2026, and the acquisition of Blackmon Auctions closed on April 13, 2026.