RB Global, the parent company of heavy-equipment auction company Ritchie Bros., saw growth in its commercial construction equipment business in its third quarter, though the number of sold lots declined.
Total third-quarter gross transaction value – which represents the combined value of all transactions and their associated charges – rose 7% year-over-year to $43.9 billion. For the first nine months of the year, gross transaction value was up 1% to $11.9 billion.
In RB Global’s commercial construction and transportation sector specifically, GTV was up 9% year-over-year in the third quarter to $1.3 billion but down 6% in the first nine months of the year to $4.1 billion.
A key driver in construction equipment growth was the company’s acquisition of J.M. Wood Auction Co. for $235 million, which expanded RB Global’s exposure to markets in the Southern U.S. Beyond the acquisition, RB Global’s construction business also saw higher average prices per lot sold, though this was partially offset by lower volumes. The company noted the year-over-year decline in volume was partially due to a “certain significant non-recurring customer disposition” seen in 2024.
The company reported 87,800 sold commercial construction lots in the third quarter, a 15% year-over-year decrease. Additionally, for the first nine months of the year, sold commercial construction lots were down 17% to 272,900.
For the third quarter of 2025, 18,858 used commercial construction machines were sold in the U.S., according to Fusable’s EDA data. This represents a 3.3% year-over-year increase from 18,261 machines sold in the third quarter of 2024. EDA is owned by Fusable, parent company of Equipment World.
RB Global’s automotive sector remains its largest, bringing in $2.2 billion GTV this third quarter.
Third-quarter service revenue – generated from fees and commissions – was up 8% to $845 million and up 4% in the first nine months of the year to $2.6 billion. This revenue increase was fueled by bother higher GTV and an increase in the service revenue take rate, the second factor driven by higher buyer fee rate structure.
Total revenue – made up of transactional seller, transactional buyer, marketplace services, total service and inventory sales revenue – was up 11% to $1.1 billion in the third quarter and also up 8% year-to-date to $3.4 billion.
RB Global reported a notable net income increase for the third quarter, jumping 25% year-over-year to $95.2 million. For the first nine months of the year, net income also rose 8% to $318.2 million.
The company lowered its full year 2025 gross transaction volume growth forecast from 0-3% to 0-1%.
In addition to Ritchie Bros., RB Global owns a variety of companies that deal in online auctions or adjacent services, including Insurance Auto Auctions, Rouse Services, SmartEquip, Xcira and Veritread.
