Ritchie Bros.' largest Ontario auction ever: CA$36+ million of equipment and trucks sold
May 13, 2016
Record-breaking auction in Toronto attracted 4,050+ people to bid on 3,000+ items on May 11 – 12 Two weeks after its largest Canadian auction ever in Edmonton, Alberta, Ritchie Bros. was breaking records again with its largest Ontario auction ever. On May 11-12, 2016, Ritchie Bros. sold more than 3,000 equipment items and trucks for CA$36+ million (US$28+ million) at its Toronto site. The unreserved auction attracted 4,050+ bidders, in person at Ritchie Bros.' Toronto auction site (in Bolton ) and online. About 89 percent of the equipment was sold to Canadian buyers. Buyers from the United States purchased 9.5 percent. "The size of this Toronto auction reflects the trust our customers place in our unreserved auctions," said Anna Sgro, Senior Vice President, Ritchie Bros. "We helped hundreds of sellers reach competing buyers from every province and 44 other countries, both on-site and online—no one else delivers that kind of audience. Online buyers purchased more than CA$16 million of...
Ritchie Bros. reports first quarter 2016 results
May 9, 2016
More than $1 billion of Gross Auction Proceeds achieved during the first quarter for the first time. Strong Revenue Rate of 12.9%, driven mostly by strong performance in the Company's auction businesses and growing fee-based revenue streams. Q1 2016 revenues increased 14%; operating income increased 19%, compared to Q1 2015. Q1 2016 diluted earnings per share attributable to stockholders of $0.27 , an increase of 23% relative to Q1 2015. Operating Free Cash Flow increased 20% in the 12-months ended March 31, 2016 compared to the same period ended last year. (All figures are presented in U.S. dollars) Ritchie Bros. Auctioneers Incorporated (NYSE & TSX: RBA, the "Company" or "Ritchie Bros.") reports results for the three months ended March 31, 2016. During the first quarter, the Company generated $131.9 million of revenue, a 14% increase compared to revenues of $115.6 million in the first quarter last year, and net income attributable to stockholders for the...
CA$240+ million of equipment sold at record-breaking Edmonton auction
May 2, 2016
Ritchie Bros .' largest Canadian auction ever set new company records for online sales, bidders and number of sellers: CA$140+ million (US$111+ million) sold to online bidders (58 percent) 16,700+ bidders from 55 countries 10,200+ items sold for 1,125+ sellers Selling more than 10,000 equipment items and trucks in five days is a massive undertaking, and last week Ritchie Bros.' Edmonton team showed that it was up for the challenge. From April 26 - 30, 2016 , Ritchie Bros . sold 10,200+ equipment items and trucks for CA$240+ million (US$191+ million) at its 200-acre Edmonton, AB auction site, making it the company's largest Canadian auction ever and the second-largest auction in company history. The five-day auction attracted 16,700+ bidders from 55 countries—a new company record, surpassing the previous record by 19 percent. Approximately 84 percent of the equipment was sold to Canadian buyers (by dollar value), including 46 percent sold to Alberta buyers. More than 13 percent of the...