RB Global, Inc. Reports Strong First Quarter 2026 Results with Broad-Based Growth and Upgraded Outlook
RB Global, Inc. has reported a strong set of financial results for the first quarter ended March 31, 2026, demonstrating continued momentum across its global marketplace operations. The company delivered double-digit growth in gross transaction value (GTV), revenue, and profitability, driven by strong demand across its Automotive, Commercial Construction and Transportation (CC&T), and other asset sectors.
Strong Revenue and Profit Growth Across Core Metrics
For the first quarter of 2026, RB Global reported total GTV of $4.34 billion, marking a 13% increase year over year compared to $3.83 billion in the same period of 2025. This growth reflects broad-based strength across all operating segments and benefits from contributions from recent acquisitions, including J.M. Wood Auction Company and Smith Broughton.
Total revenue rose 11% year over year to $1.23 billion, supported by both service-based offerings and inventory sales. Service revenue increased to $897.7 million, up 5% from the prior year, while inventory sales revenue surged 32% to $336.9 million, highlighting strong performance in asset remarketing activities.
Net income also showed significant improvement, rising 20% to $135.6 million, while net income attributable to common shareholders increased 21% to $124.6 million. Diluted earnings per share reached $0.66, reflecting a 20% increase year over year. On an adjusted basis, diluted EPS rose 13% to $1.01 per share.
Adjusted EBITDA climbed 11% to $362.7 million, underscoring the company’s ability to convert top-line growth into earnings expansion despite a shifting macroeconomic environment.
Management Commentary Highlights Operational Strength
CEO Jim Kessler emphasized the company’s consistent execution and customer value proposition, noting that RB Global continues to deliver “broad-based GTV growth across all sectors.” He highlighted the company’s disciplined strategy and focus on controllable operational factors, especially amid ongoing global economic uncertainty.
CFO Eric J. Guerin added that revenue growth has translated effectively into earnings expansion, reinforcing the durability of RB Global’s operating model and its disciplined financial management approach.
Segment Performance: Automotive and CC&T Lead Growth
RB Global’s performance across its core segments was notably strong:
- Automotive GTV increased 7% to $2.29 billion, driven primarily by higher average selling prices per lot.
- CC&T GTV grew significantly by 27% to $1.62 billion, supported by improved asset mix and increased transaction volumes.
- The Other segment rose 5% to $429.7 million, reflecting steady demand across diversified categories.
Overall lots sold remained stable at approximately 857,500 units, indicating that growth was primarily driven by pricing strength rather than volume expansion.
The CC&T segment emerged as a particularly strong contributor, benefiting from infrastructure-related demand and higher-value equipment transactions. Automotive growth was more moderate in volume but benefited from favorable pricing dynamics.
Revenue Structure and Take Rate Dynamics
Service revenue composition showed mixed trends. Transactional seller revenue increased 11% to $241.3 million, while transactional buyer revenue rose 4% to $577.5 million. Marketplace services revenue remained stable at approximately $78.9 million.
However, the service revenue take rate declined by 160 basis points to 20.7%, primarily due to:
- A higher proportion of higher-value asset sales
- Contributions from recently acquired businesses
- Strategic divestitures of certain operations
Despite the decline in take rate, overall service revenue growth remained positive due to higher GTV.
Inventory-related activity was a key highlight, with inventory return increasing 43% year over year, driven by stronger performance in CC&T assets and improved monetization of inventory holdings. The inventory rate also rose to 9.0%, reflecting stronger margins in this segment.
Expense Management and Profitability
Operating expenses for the quarter totaled $1.02 billion on a reported basis. After adjustments for stock-based compensation, acquisition-related costs, restructuring, and amortization of acquired intangibles, adjusted operating expenses were $924.9 million.
Key expense drivers included:
- Increased cost of services at $365.1 million
- Higher cost of inventory sold at $306.7 million
- Selling, general, and administrative expenses of $214.2 million (adjusted to $199.0 million)
- Depreciation and amortization of $126.7 million
Despite higher operating costs, profitability improved due to strong revenue growth, lower interest expenses, and improved operating leverage.
Updated 2026 Full-Year Financial Outlook
RB Global updated its full-year 2026 guidance, reflecting stronger-than-expected performance in the first quarter and improved business visibility:
- GTV growth: revised upward to 6%–9% (previously 5%–8%)
- Adjusted EBITDA: increased to $1.485–$1.545 billion (previously $1.470–$1.530 billion)
- Tax rate (GAAP and adjusted): maintained at 23%–25%
- Capital expenditures: unchanged at $350–$400 million
The upward revision in GTV and EBITDA guidance signals confidence in continued demand for auction and marketplace services across industrial and automotive sectors.
Strategic Expansion and Acquisitions
RB Global continues to strengthen its market position through strategic acquisitions and expansion initiatives.
During the quarter and subsequent period:
- The company acquired Blackmon Auctions, a U.S.-based auction provider serving construction, transportation, agriculture, and real estate sectors. Blackmon adds meaningful regional presence in the South Central United States and contributes more than $60 million in annual GTV.
- RB Global also advanced its acquisition of BigIron Auction Company. In April 2026, the U.S. Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period, clearing a key regulatory milestone. The acquisition is expected to close in the second quarter of 2026, subject to remaining conditions.
These acquisitions reinforce RB Global’s strategy of expanding geographic reach and deepening penetration in high-value industrial auction markets.
Shareholder Returns and Dividend Announcement
The company also announced a quarterly cash dividend of $0.31 per common share, payable on June 18, 2026, to shareholders of record as of May 27, 2026. This reflects RB Global’s continued commitment to returning capital to shareholders while maintaining investment in growth initiatives.
About RB Global
RB Global, Inc. (NYSE: RBA) (TSX: RBA) is a leading, omnichannel marketplace that provides value-added insights, services and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Through our auction sites and digital platform, we have a wide global presence and serve customers across a variety of asset classes, including automotive, commercial transportation, construction, government surplus, lifting and material handling, energy, mining and agriculture. Our marketplace brands include Ritchie Bros., the world’s largest auctioneer of commercial assets and vehicles offering online bidding, and IAA, Inc. (“IAA”), a leading global digital marketplace connecting vehicle buyers and sellers. Our portfolio of brands also includes Rouse Services (“Rouse”), which provides a complete end-to-end asset management and market data-driven intelligence; SmartEquip Inc. (“SmartEquip”), an innovative technology platform that supports customers’ management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; and VeriTread LLC (“VeriTread”), an online marketplace for heavy haul transport.
