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Ritchie Bros Auctioneers Inc - Stock Quote RBA

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Morningstar's Ritchie Bros Auctioneers Inc Stock Analysis

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Ritchie Bros. Emphasizes its Services Business as a Key Growth Driver at its Investor Day

Dawit Woldemariam Equity Analyst

Analyst Note

| Dawit Woldemariam |

Ritchie Bros. held its investor day on May 18, where it provided additional insight into its services strategy going forward. In late 2020, management provided its vision of extending its offering into services, insights, and transaction solutions for heavy equipment. The company aims to evolve into a solutions provider, rather than just a transaction-based business. Ritchie Bros. has long been a global marketplace for heavy equipment, controlling about 20% of the $30 billion used heavy equipment auction market (according to management’s estimates).

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Ritchie Bros Auctioneers Inc's Company Profile

Business Description

Ritchie Bros. operates the world’s leading marketplace for heavy equipment. The company started as a live auctioneer of industrial equipment, since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. Ritchie Bros. operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms. The company holds over 300 auctions yearly and sells over $5 billion worth of equipment.

9500 Glenlyon Parkway
Burnaby, BC, V5J 0C6, Canada
T +1 778 331-5500
Industry Specialty Business Services
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 4,300

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