RB Global (RBA) investor relations material

Executive summary

• Total revenue for Q2 2025 increased 8% year-over-year to $1.2 billion, with service revenue up 3% and inventory sales revenue up 26%.

• Adjusted EBITDA rose 7% to $364.5 million, and diluted adjusted EPS increased 14% to $1.07.

• Automotive sector achieved strong market share gains and 9% unit volume growth, offsetting declines in commercial construction and transportation.

• Acquisition of J.M. Wood for ~$235 million expanded U.S. presence; joint venture with LKQ in the UK/Europe resulted in a $15.5–$19.7 million loss on deconsolidation.

• Net income available to common stockholders decreased 1% year-over-year to $99.5 million; diluted EPS down 2% to $0.53.

Financial highlights

• Gross transaction value (GTV) increased 2% year-over-year to $4.2 billion, driven by 8–9% automotive sector growth and offset by a 6% decline in commercial construction and transportation.

• Service revenue take rate expanded 20 basis points to 21.1%; inventory rate declined to 4.1%.

• Adjusted net income available to common stockholders rose 15% year-over-year to $200.5 million.

• Cash provided by operating activities for the first six months of 2025 was $483.3 million.

• Adjusted EBITDA margin improved to 8.7% of GTV from 8.3% the prior year.

Outlook and guidance

• Full-year 2025 GTV growth expected at the lower end of the 0–3% range; adjusted EBITDA guidance raised and tightened to $1.34–$1.37 billion.

• Full-year tax rate forecasted at 24% to 27%; capital expenditures projected at $350–$400 million.

• Quarterly dividend increased by 7% to $0.31 per share, payable September 18, 2025.

• Guidance excludes any contribution from catastrophe event-related GTV due to unpredictability.

• Management remains cautiously optimistic for the second half, expecting EBITDA growth acceleration but maintaining a conservative outlook due to macroeconomic uncertainties.