Ritchie Bros. Auctioneers reports Q4 profit and revenue up from year ago
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 22/02/2023 (1275 days ago), so information in it may no longer be current.
VANCOUVER – Ritchie Bros. Auctioneers Inc. reported its fourth-quarter profit and sales were up compared with a year earlier.
The company, which keeps its books in U.S. dollars, reported a profit of $45.3 million or 40 cents per diluted share for the quarter ended Dec. 31, up from a profit of $30.6 million or 27 cents per diluted share in the fourth quarter of 2021.
Revenue totalled US$443.9 million for the quarter, up from $359.4 million a year earlier.
On an adjusted basis, Ritchie Bros. says it earned 68 cents per diluted share, up from an adjusted profit of 50 cents per diluted share in the last three months of 2021.
The results come as the company works to win shareholder support for its plan to buy automotive salvage company IAA.
Several Ritchie Bros. shareholders have voiced their opposition to the deal that will be voted on by shareholders of both companies on March 14.
This report by The Canadian Press was first published Feb. 22, 2023.
Companies in this story: (TSX:RBA)