News
RB global profits in the first quarter of 2024: exceed expectations
RB Global (NYSE:RBA) Results for the first quarter of 2024
Main financial results
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Revenue: US$1.06 billion (108% increase compared to 1Q 2023).
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Net profit: US$ 107.4 million (above the loss of US$ 34.2 million in 1Q 2023).
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Profit margin: 10% (above the net loss in 1Q 2023). The shift to profitability was driven by higher revenues.
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EPS: US$0.59 (up from a loss of US$0.28 in 1Q 2023).
earnings and revenue growth
All numbers shown in the chart above are for the period of the last 12 months (TTM)
RB’s global revenues and earnings exceed expectations
Revenue surpassed analyst estimates by 4.3%. Earnings per share (EPS) also beat analyst estimates by 39%.
Looking ahead, revenue is forecast to grow 2.2% per year on average over the next 3 years, compared to a 6.6% growth forecast for the US business services industry.
Performance of American business services industry.
The company’s shares rose 5.9% from the previous week.
Risk analysis
Before we close, we discover 2 warning signs for RB Global that you should be aware of.
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