RB Global's Growth Runway Seen Expanding

Dow Jones08-06

1209 ET - RB Global's engine is humming along nicely as it continues to benefit from sustained auto-market share gains. Following another "beat and raise" 2Q, Raymond James analyst Steve Hansen notes an expanding long-term growth runway after gross transaction volume jumped 11% to $4.67 billion, prompting management to "nudge" full-year Ebitda guidance higher. While heavy equipment customer activity remained "cautious," RBA's auto business helped offset the softness by expanding its largest insurance partner to all 50 U.S. states. RBA outlines three "high-confidence durable tailwinds," including an active equipment replacement cycle, aging farmer demographics and generational farm transitions, and a significantly underpenetrated digital market.

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