Ritchie Bros. sees double-digit profit gains as U.S. market gains

VANCOUVER — Ritchie Bros. Auctioneers Inc. says it had double-digit profit and revenue growth in the second quarter compared to last year.

The Vancouver-based auctioneer, which reports in U.S. dollars, says it had $45.7 million or 42 cents per share in adjusted net income attributable to shareholders in the quarter, compared to $36.4 million or 33 cents per share in the same quarter last year.

Revenue for the quarter ending June 30 came in at $308.5 million, up from $252.6 million for the same quarter last year.

The company says revenue was up in part because of the acquisition of equipment seller IronPlanet that it completed partway through the second quarter last year.

Ritchie says business was up as it improved both live and online auction performance and had a higher-value equipment mix in both segments, with record online sales in the U.S.

Performance was tempered by continuing equipment supply constraints, and the reduction of live industrial on-site auctions and sales days compared with last year’s second quarter.

Just Posted

Third pot store to open in May in Red Deer

Red Deerians will see a third pot store open up in the… Continue reading

Red Deer heritage society wants to raise global awareness with new display

May 8 fundraiser planned for new multicultural exhibition centre

A former Red Deer opioid addict understands the community’s frustration

‘It’s a privilege and an honour to be an example of change,’ he says

New loonie reason to celebrate and educate: central Alberta LGBTQ community

The new LGBTQ2 loonie is a conversation starter and a reason to… Continue reading

Montreal native Nicholas Latifi off to solid start on Formula 2 race circuit

Practice makes perfect for Canadian Nicholas Latifi. The 23-year-old Montreal auto racer… Continue reading

Bruins victory over Leafs ensures an American team will hoist the Stanley Cup

TORONTO — Many NHL players were either not yet born or too… Continue reading

Swole, buzzy, among new words in Merriam-Webster dictionary

BOSTON — Get swole, prepare a bug-out bag, grab a go-cup and… Continue reading

Garner graces cover of People’s annual ‘Beautiful Issue’

NEW YORK — Jennifer Garner graces the front of this year’s “Beautiful… Continue reading

Updated: Joshua Arthur Sanford has been found, says RCMP

37-year-old Ponoka man last seen on Tuesday morning

Inspired by a galaxy far, far away, these ‘Star Wars’ mementos could be yours forever

CHICAGO —The stuff of “Star Wars” —and there is unfortunately no better… Continue reading

Shoppers Drug Mart launches second online medical pot portal in Alberta

TORONTO — Medical cannabis users in Alberta can now get their therapeutic… Continue reading

Taylor Drive honours legacy of outstanding community volunteer

The main roadway going north and south on the west side of… Continue reading

Most Read