RB Global Inc. Reports $1.11 Billion Revenue in Q1 2025, 4% Increase Year-Over-Year

RB Global Inc. reported a total revenue of $1.11 billion for the first quarter of 2025, marking a 4% increase from $1.06 billion in the same period last year. The growth was primarily driven by a 19% rise in inventory sales revenue, which reached $256.1 million, while service revenue remained relatively flat at $852.5 million. The company's net income also saw a 5% increase, rising to $113.3 million compared to $107.4 million in the prior year, with net income available to common stockholders increasing by 6% to $102.9 million. Basic earnings per share rose to $0.56 from $0.53, reflecting the company's improved profitability.

In terms of operational performance, RB Global's total Gross Transaction Value (GTV) decreased by 6% to $3.83 billion, influenced by lower volumes in the commercial construction and transportation (CC&T) sector. The company reported a decline in total lots sold, particularly in the CC&T sector, which saw a 19% drop in volume. However, the automotive sector experienced a 2% increase in GTV, attributed to growth from existing partners and market share gains. The company employed over 7,900 full-time employees, with a significant portion based in the United States.

Strategically, RB Global announced its intention to acquire J.M. Wood Auction Co., Inc. for approximately $235 million, a move expected to enhance its geographic coverage and customer base in the U.S. The acquisition is anticipated to close in the second or third quarter of 2025, pending regulatory approvals. Additionally, the company amended its Credit Agreement to increase its revolving credit facilities from $750 million to $1.3 billion, extending the maturity date to April 2030, which provides greater financial flexibility.

The company's operating expenses increased by 6% to $919.5 million, driven by higher costs in services and inventory sold. Notably, acquisition-related costs decreased significantly by 76% to $3.1 million, reflecting lower integration expenses associated with previous acquisitions. The effective tax rate for the quarter improved to 20.7%, down from 23.2% in the prior year, primarily due to increased deductions for share-based payments. Looking ahead, RB Global remains focused on navigating macroeconomic challenges while pursuing growth opportunities through strategic acquisitions and operational efficiencies.