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 the BigIron acquisition in May, expanding presence in the U.S. agriculture sector and creating a new growth platform.

• Automotive segment delivered 11% unit volume growth and 13% GTV growth, marking the sixth consecutive quarter of outperformance versus the broader market.

• Net income available to common stockholders grew 33% to $132.0 million, and diluted adjusted EPS rose 6% to $1.13.

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

Financial highlights

• GTV rose 11% year-over-year to $4.7 billion in Q2 2026.

• Service revenue increased 5% to $933 million, but the service revenue take rate declined 110 basis points to 20% due to business mix and acquisitions.

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

• Net income rose 31% to $143.6 million, and operating income increased 19% to $224.8 million.

• Inventory rate improved 180bps to 5.9% in Q2 2026.

Outlook and guidance

• Raised 2026 GTV growth outlook to 9–11%, with adjusted EBITDA guidance of $1,495–$1,545 million and tax rate expected at 23–25%.

• BigIron expected to contribute about CAD 500 million in GTV for 2026.

• Capital expenditures projected at $350–$400 million for 2026.

• Focus remains on volume-led growth, operating leverage, and adjusted EBITDA growth ahead of service revenue.

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