RB Global Inc.

RB Global said on September 15 that it is raising its share repurchase ceiling to $1 billion from $500 million. The program began on March 18, and by September 11 the company had bought back 5,363,497 shares at an average price of about $93.22; the new terms, effective September 17, allow it to repurchase the lesser of 14,224,129 shares, roughly 10% of the public float, and $1 billion of stock. Management also raised the quarterly dividend to $0.33 from $0.31 on July 21. The buyback follows second-quarter results reported on August 4, when gross transaction value rose 11% to $4.7 billion and net income climbed 31% to $143.6 million, and management lifted its full-year GTV growth outlook to 9% to 11% from 6% to 9%. Underneath the headline numbers, however, GTV growth falls to 7% from 11% once recent acquisitions are stripped out, service revenue grew only 5% to $933.4 million as the take rate slid 110 basis points to 20%, and reported diluted earnings per share of $0.71 grew 34% while adjusted earnings per share of $1.13 grew just 6%.

RB Global reported second-quarter net income available to common stockholders of $132.0 million, up 33% year over year, with diluted earnings per share rising 34% to $0.71 on total revenue of $1.3 billion, an 11% increase. Gross transaction value rose 11% to $4.7 billion, led by the Automotive segment, where GTV climbed 13% to $2,448.7 million, while inventory sales revenue jumped 28% to $383.7 million and the inventory rate widened 180 basis points to 5.9%. The company closed its acquisition of BigIron and raised full-year guidance, lifting expected GTV growth to a range of 9% to 11% from 6% to 9% and nudging adjusted EBITDA guidance up to $1,495 million to $1,545 million; the board also raised the quarterly dividend from $0.31 to $0.33 per share on July 21, 2026, payable September 17, and the company bought back roughly 1.5 million shares for $150.0 million during the quarter. Excluding recent acquisitions, total GTV growth falls from 11% to 7%, and the service revenue take rate fell 110 basis points to 20.0%, while diluted adjusted EPS rose just 6% to $1.13. Hedge fund ownership fell from 41 funds to 37 over the two most recent quarters, short interest sits at 10.54% of float, and the stock trades at a forward price-to-earnings ratio of 17.12 as of September 17.

RB Global has received Toronto Stock Exchange approval to expand its normal course issuer bid, lifting the potential repurchase pool to 14,224,129 shares or up to US$1 billion in total. The expanded buyback, alongside an earlier Q2 revenue beat, is helping rebuild momentum after a 90-day share price return decline of 19.76% and a 1-year total shareholder return fall of 25.77%, while the 5-year total shareholder return remains up 54.72%. RB Global shares closed at US$86.11, with a 1-day share price return of 2.48% and a 7-day gain of 5.17%. The company's most followed valuation narrative pegs fair value at $127.73, well above the last close, though RB Global trades on a P/E of 36.5x, higher than both the US Commercial Services industry at 19.8x and the peer average at 35.5x, and above an estimated fair ratio of 28.6x.

Ritchie Bros., part of RB Global, Inc., has launched a redesigned mobile app that brings full native bidding and transaction capabilities to buyers on iOS and Android. The update transforms the app from a mobile browsing companion into a fully native bidding experience, allowing users to place bids directly from search results and listings, track live auctions, and monitor watchlists. Early data from pre-launch testing showed buyers converted from search to watchlist at more than double the rate seen on the web platform, and watch-listed items received a bid within 14 days. The app supports more than 10 languages and is available now through the Apple App Store and Google Play Store.

The S&P/TSX Composite Index rose to a new record high on Wednesday, climbing 367.80 points or 1.03% to 36,169.39 after touching an intraday peak of 36,443.29. The advance was driven by strong gains in materials, technology, and consumer discretionary sectors, while energy, industrials, and consumer staples stocks limited the upside. Shopify shares surged 17% after the company reported second-quarter net income of $1,502 million, up from $906 million a year earlier, and forecast third-quarter revenue growth at a low-thirties percentage rate. The Materials Capped Index jumped nearly 6%, with Eldorado Gold soaring 12% and several gold and silver miners posting gains of 8% to 9.5%. Other notable movers included RB Global, which soared 14% on a net income rise to $132 million, and iA Financial Corporation, which gained 3.3% after net income attributable to common shareholders increased 20% to C$384 million.

Canadian stocks are poised for a positive start on Wednesday, tracking firm commodity prices and strong corporate earnings. Shopify reported second-quarter net income of $1,502 million, up from $906 million a year earlier, and expects third-quarter revenue to grow at a low-thirties percentage rate. iA Financial Corporation's net income rose 20 percent to C$384 million, while RB Global posted net income of $132 million, up from $99.5 million. The S&P/TSX Composite Index closed Tuesday at 35,801.59, a gain of 575.45 points or 1.63 percent. West Texas Intermediate crude oil futures are up 0.32 percent at $76.03 a barrel, and gold futures are up 2.81 percent at $4,269.10 an ounce.

RB Global reported higher net income for the second quarter and raised its fiscal 2026 outlook. Net income available to common stockholders increased to $132 million, or $0.71 per share, from $99.5 million, or $0.53 per share, a year earlier. Excluding items, net income available to common stockholders rose to $210.7 million, or $1.13 per share, from $200.5 million, or $1.07 per share. Total revenue increased to $1.32 billion from $1.19 million the previous year. The company raised its full-year 2026 adjusted EBITDA guidance range to $1.50 billion to $1.55 billion, up from the prior range of $1.49 billion to $1.55 billion.

RB Global raised its 2026 outlook, now expecting gross transaction value growth of 9% to 11% and adjusted EBITDA growth of approximately 8.6% at the midpoint, with the updated guidance incorporating an expected contribution of about $500 million in GTV from the BigIron acquisition. Total GTV increased 11% to $4.7 billion in the second quarter, driven by unit volume growth and higher average selling prices in automotive, along with acquisition-supported growth in heavy equipment and transportation. The service revenue take rate declined 110 basis points year-over-year to 20%, which management attributed to portfolio mix changes from acquisitions and volume-related price incentives in automotive, while emphasizing a focus on service revenue dollars and adjusted EBITDA dollars over percentage take rates. The board approved a $0.02 increase to the quarterly dividend, raising it to $0.33 per share, and the company has repurchased and retired approximately 1.4 million shares for $150 million. CEO James Kessler noted that customer decision-making became more deliberate during the quarter amid interest rate and macro uncertainty, and highlighted the nationwide expansion of the relationship with the company’s largest automotive insurance partner across all 50 states.

StockStory identifies SS&C Technologies as a business services stock to sell, while highlighting Copart and RB Global as stocks with exciting potential. SS&C faces declining margins and a return on invested capital of 6.8%, signaling challenges in finding attractive investments. Copart has delivered 13.4% annual revenue growth over five years and strong free cash flow, with market-beating returns on capital. RB Global achieved 26.9% annual revenue growth and 19.1% annual earnings per share growth, supported by improved operating efficiency.

IAA has launched a new Market Alliance in El Salvador with Matus International, expanding access to its global digital marketplace for customers throughout Central America. As part of the alliance, Matus International will operate an auction center in San Salvador, providing local support and services to help buyers browse, bid on, and purchase vehicles. David Rymarz, Senior Vice President and Head of IAA Marketplace, said the move reflects a commitment to meeting customers where they do business and strengthening access to the global marketplace. Allan Matus, Chief Executive Officer of Matus International, expressed pleasure in joining the network and supporting customers through every stage of the purchasing journey. The Market Alliance network extends IAA's reach by providing localized support in key international markets, and this expansion further strengthens its presence in Central America.

RB Global reported first-quarter revenues of $1.23 billion, an 11.4% year-on-year increase that exceeded analysts' expectations by 6.9%. The company also beat earnings per share estimates, capping what was described as a very strong quarter. Among the 20 business services and supplies stocks tracked, the group overall posted revenues 2.4% above consensus and saw average share prices rise 10.6% since their latest earnings. Brady delivered the best performance of the group with a 13.8% revenue jump and a 20.2% stock gain, while MillerKnoll was the weakest, missing revenue and EPS estimates and seeing its stock fall 14.8%.