RB Global Q1 2024 Financial Report: Insights & Outlook
Uncover key insights and future prospects from RB Global's Q1 2024 earnings
Earnings Q2 2024
(in $ millions, except per share data)
Total revenue 1.064 (+108%)
Total operating expenses 868.2 (+61%)
Operating income 198.9 (+899%)
Net income 107.4 (-28.2)
Earnings (loss) per share available to common stockholders Diluted 0.53 (-0.28)
Weighted average number of shares outstanding Diluted 184.5 (120.4)
Cash and cash equivalents 462.8 (576.2)
Inventory 172.9 (166.5)
Property, plant and equipment 1.214 (1.200)
Intangible assets, net 2.853 (2.914)
Total assets 12.045 (12.037)
Short-term debt 24.8 (13.7)
Current portion of long-term debt 4.4 (14.2)
Long-term debt 2.921 (3.061)
Depreciation and amortization 107.7 (36.2)
Share-based payments expense 15.1 (12.2)
Net cash provided by (used in) operating activities 124,8 (-57.3)
Property, plant and equipment additions 45.2 (-23.5)
Intangible asset additions 28.4 (16.9)
Dividends paid to common stockholders 49.3 (150.4)
Repayment of long-term debt 151.1 (501.1)
Revenue
Service revenue 849.1 (+147%)
Inventory sales revenue 215.6 (+28%)
2024 Financial Outlook
GTV growth 1-4%
Adjusted EBITDA 1.200-1.260
Full year 2024 tax rate 25-27%
Capital expenditures 275-325
GTV by Sector
Automotive 2.113 (+537%)
Commercial construction and transportation 1.562 (+31%)
Other 400.9 (+6%)
Total GTV 4.077 (+115%)
Lots Sold by Sector
Automotive 585.3 (+569%)
Commercial construction and transportation 108.8 (+92%)
Other 112.5 (+7%)
Total lots 806.6 (+224%)
Service revenue take rate 20.8% (20.0%)
Inventory rate 8.8% (9.8%)