RB Global Q2 Earnings Call Highlights

RB Global NYSE: RBA reported second-quarter 2026 gross transaction value, or GTV, growth of 11% to $4.7 billion and adjusted EBITDA growth of 6%, as the marketplace operator cited continued market-share gains in automotive and contributions from acquisitions. Chief Executive Officer Jim Kessler said the company’s results reflected progress on its priorities of gaining market share, executing with discipline and positioning the business for long-term growth. He said the company’s marketplace platform remained resilient despite more deliberate customer decision-making in certain equipment end markets. “Our teams across the organization delivered another strong quarter, remaining focused on serving our partners, advancing our strategic priorities, and operating with discipline,” Kessler said. RB Global completed its acquisition of BigIron in May, adding a marketplace focused on farm equipment and agricultural real estate in the United States. Kessler said the business establishes a new growth platform in agriculture, an end market where RB Global has historically had a larger presence in Canada than in the U.S. The company estimated the North American agricultural transactional market addressed by BigIron at approximately $60 billion annually, split roughly evenly between equipment and land or agricultural real estate. Kessler noted that real estate transactions generally have low-single-digit take rates. Management identified recurring equipment replacement, investments in farm productivity, generational farm transitions, retirements and industry consolidation as drivers of transaction activity. The company also sees an opportunity to expand adoption of online auctions in a market it described as underpenetrated by digital marketplaces. BigIron’s footprint has limited overlap with RB Global’s existing operations, according to Kessler. The company plans to combine BigIron’s local customer relationships and agriculture expertise with RB Global’s technology, scale and global buyer network. In response to analyst questions, executives said integration was progressing well but that BigIron’s financial profile would not be fully reflected until later in the year as the farming season advances. Chief Financial Officer Eric Guerin said investors should wait until year-end for a closer indication of the business’s run-rate economics, particularly given the seasonal nature of agriculture and the lower take rates associated with real estate. Automotive GTV increased 13% in the quarter, driven by an 11% increase in unit volume and higher average selling prices. Average selling prices rose about 2%, while U.S. insurance average selling prices increased 4% from a year earlier. Kessler said automotive unit growth represented the company’s sixth consecutive quarter of outperformance relative to the broader market. He attributed the result to continued net market-share gains.