RB Global (RBA) Q2 2026 earnings summary

Executive summary

• Achieved strong Q2 2026 results with 11% year-over-year GTV and revenue growth, driven by Automotive sector gains, acquisitions including BigIron and Blackmon, and disciplined cost management.

• Completed BigIron acquisition, expanding presence in the U.S. agriculture sector and establishing a new growth platform.

• Expanded partnership with a major automotive insurance client to cover all 50 states, enhancing service breadth.

• Increased full-year 2026 outlook for GTV growth and maintained robust capital returns via dividends and share repurchases.

• Net income available to common stockholders rose 33% to $132.0 million; diluted adjusted EPS up 6% to $1.13.

Financial highlights

• GTV rose 11% year-over-year to $4.7 billion in Q2 2026; total revenue up 11% to $1.3 billion.

• Service revenue increased 5% to $933 million; inventory sales revenue up 28% to $383.7 million.

• Adjusted EBITDA increased 6% to $387.2 million, outpacing service revenue growth.

• Adjusted EPS rose 6% to $1.13; operating income up 19% to $224.8 million.

• Cash and cash equivalents at June 30, 2026 were $524.9 million; net cash provided by operating activities for the first six months was $365.8 million.

Outlook and guidance

• Raised 2026 GTV growth outlook to 9–11% and adjusted EBITDA guidance to $1,495–$1,545 million.

• BigIron expected to contribute ~$500 million in GTV for 2026.

• Full-year tax rate expected at 23–25%; capital expenditures projected at $350–$400 million.

• Guidance assumes continued market share gains, operational excellence, and no significant catastrophic events.

• Management observed early signs of improving seller confidence in select end markets, with stabilizing used equipment values and strong construction project demand.