Ritchie Bros. Auctioneers (USA) (RBA) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.21. The company posted revenue of $131.90 million in the period, compared to analysts expectations of $116.20 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.
Ritchie Bros. Auctioneers (USA) opened for trading at $28.79 and hit $29.2 on the upside on Friday, eventually ending the session at $29.15, with a gain of 0.69% or 0.2 points. The heightened volatility saw the trading volume jump to 4,82,920 shares. Company has a market cap of $3,125 M.
In a different news, on Mar 11, 2016, Robert Alastair Mcleod (Chief Bus. Dev. Officer) sold 10,088 shares at $24.54 per share price. According to the SEC, on Mar 10, 2016, Karl William Werner (Ch. Op. & Supp. Dev. Officer) sold 19,300 shares at $25.19 per share price. On Mar 7, 2016, Edward Baltazar Pitoniak (director) purchased 100 shares at $24.44 per share price, according to the Form-4 filing with the securities and exchange commission.
Ritchie Bros. Auctioneers Incorporated is an auctioneer of industrial equipment. The Company is engaged in providing unreserved auction services to equipment buyers and sellers. Ritchie Bros. focuses on the sale of heavy machinery. The Company operates through two segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live unreserved auctions with both on-site and online bidding. EquipmentOne segment is a secure online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at around 44 auction sites around the world. Through the Companys unreserved auctions and online marketplaces it sells a range of used and unused industrial assets including equipment trucks and other assets used in the construction transportation agricultural material handling mining forestry energy and marine industries.