Commercial asset marketplace RB Global (NYSE: RBA) will be reporting earnings this Monday before market hours. Here’s what to expect.
RB Global beat analysts’ revenue expectations last quarter, reporting revenues of $1.32 billion, up 11.1% year on year. It was a strong quarter for the company, with EPS in line with analysts’ estimates.
Is RB Global a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting RB Global’s revenue to grow 8.4% year on year, slowing from the 11.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. RB Global rarely misses Wall Street’s revenue estimates.
Looking at RB Global’s peers in the business services & supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. OPENLANE delivered year-on-year revenue growth of 12.6%, beating analysts’ expectations by 1.3%, and CoreCivic reported revenues up 28.2%, topping estimates by 5.4%. OPENLANE traded down 8.3% following the results while CoreCivic was also down 7.5%.
Read our full analysis of OPENLANE’s results here and CoreCivic’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the business services & supplies stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.1% on average over the last month. RB Global is up 8.9% during the same time and is heading into earnings with an average analyst price target of $128.82 (compared to the current share price of $93.47).
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