Ritchie Bros. Auctioneers (RBA) Misses Q2 EPS by 6c

Ritchie Bros. Auctioneers (NYSE: RBA) reported Q2 EPS of $0.55, $0.06 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $396.4 million versus the consensus estimate of $416.78 million.

"We grew our total service revenue by 8% in the quarter despite an unfavorable, albeit temporary, used equipment supply environment." said Ann Fandozzi, CEO of Ritchie Bros.

Fandozzi concluded " We continue to focus on our long-term strategy of providing insights, services, and transaction solutions to our customers. We are testing and learning more how to service our customers digitally, with Business Inventory Management System "IMS" activations increasing 34% sequentially compared to last quarter."

For earnings history and earnings-related data on Ritchie Bros. Auctioneers (RBA) click here.

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