Wed, Feb 26, 9:45 PM (59 days ago)
**Summary of RB Global, Inc. (RBA) Financial Performance for FY 2024** RB Global, Inc. reported a robust fiscal year ending December 31, 2024, with total revenue increasing by 16% to $4,284.2 million, driven primarily by a 23% rise in service revenue to $3,363.6 million. However, inventory sales revenue slightly declined by 3% to $920.6 million. The company's net income surged 100% to $412.8 million, reflecting a diluted earnings per share (EPS) increase of 93% to $2.01. Adjusted EBITDA rose by 26% to $1.3 billion. Strategically, RB Global focused on enhancing its technology and operational capabilities, including the acquisition of Boom & Bucket, which complements its service offerings. The company faced risks from fluctuating macroeconomic conditions, particularly in vehicle pricing and supply chain disruptions, which impacted transaction volumes. Financially, RB Global maintained a solid position with $2.7 billion in total debt, a decrease from $3.1 billion in the previous year, and a leverage ratio that supports operational flexibility. The company’s cash flow from operations improved significantly, providing adequate liquidity for future commitments, including a recent tax dispute with the Canadian Revenue Agency involving potential liabilities of approximately $55.1 million. Overall, RB Global is well-positioned for continued growth, leveraging its strong market presence and operational efficiencies.