Ritchie Bros. Auctioneers (RBA) Reports In-Line Q3 EPS, Revenues Miss

Ritchie Bros. Auctioneers (NYSE: RBA) reported Q3 EPS of $0.23, in-line with the analyst estimate of $0.23. Revenue for the quarter came in at $289.8 million versus the consensus estimate of $291.33 million.

"Our positive earnings growth in the quarter was driven by solid GTV performance in our US region and global online GTV growth of 37%, highlighting the continued momentum and strength of our multichannel business model. Furthermore, we are pleased with our strong balance sheet and significant growth in our operating cash flow through the third quarter," said Sharon Driscoll interim Co-Chief Executive Officer and Chief Financial Officer.

Karl Werner, interim Co-Chief Executive Officer and President of International, said, "We are encouraged by improvement in the overall equipment supply, with our sales teams doing a good job of securing volume to help offset some pockets of price deflation in the quarter. We remain focused on continued execution of our strategy and delivering exceptional service for our customers."

For earnings history and earnings-related data on Ritchie Bros. Auctioneers (RBA) click here.

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