RB Global, Inc. announced that its wholly-owned subsidiary, Ritchie Bros. Auctioneers (America) Inc., has entered into an Equity Purchase Agreement to acquire J.M. Wood Auction Co., Inc. for $235 million. The acquisition will be paid in cash, with 67% of the purchase price at closing and the remainder in three equal annual installments. Additional payments will be made for inventory held for auction at the time of closing.

The acquisition is subject to customary conditions, including regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act. The agreement includes termination rights for both parties under specific circumstances, such as government restraints or failure to meet conditions by September 10, 2026.

RB Global stated that the purchase price was determined through negotiations and considered J.M. Wood Auction’s gross transaction value of approximately $320 million for the 12 months ending October 31, 2024. The company issued a press release about the acquisition, which is included as Exhibit 99.1 in the filing.

RB Global reported strong financial results for the fourth quarter and full year 2024, highlighting increased revenue, profitability, and strategic progress. Fourth-quarter gross transaction value (GTV) grew 2% year over year to $4.1 billion, while total revenue rose 10% to $1.1 billion. Service revenue increased by 8% to $875.5 million, and inventory sales revenue saw a 15% rise to $266.1 million. Net income increased 41% to $118.4 million, with net income available to common stockholders up 44% to $107.8 million. Diluted earnings per share rose 41% to $0.58, while adjusted diluted EPS increased 16% to $0.95. Adjusted EBITDA grew 13% year over year to $346.0 million.

Looking ahead to 2025, RB Global projects GTV growth between 0% and 3% and adjusted EBITDA in the range of $1.32 billion to $1.38 billion. The expected full-year tax rate is between 25% and 28%, with capital expenditures anticipated between $350 million and $400 million. The company remains focused on operational efficiency, strategic investments, and long-term growth.

RB Global, Inc. (NYSE: RBA) announced an amendment to the record date for its quarterly cash dividend. The record date has been adjusted from February 6, 2025, to February 14, 2025. The payment date for the dividend will remain March 3, 2025, as originally announced. The dividend is set at US$0.29 per common share and is considered an eligible dividend for Canadian income tax purposes.

RB Global, Inc. announced on January 20, 2025, that its board of directors has declared a quarterly cash dividend of $0.29 per common share. The dividend is scheduled to be paid on March 3, 2025, to shareholders of record as of February 6, 2025. This move highlights the company’s dedication to delivering value to its shareholders.

The announcement was made through a news release, which was included in the company’s Form 8-K filing with the SEC. The filing ensures compliance with regulatory requirements and provides transparency to the company’s stakeholders.