RB Global: Is Its Western Australia Move the Start of a Massive Growth Wave?

RB Global delivered a generally positive third-quarter performance, underscored by a 16% year-over-year increase in adjusted EBITDA on a 7% rise in gross transactional value (GTV). This growth was primarily driven by advancements in the automotive sector, with a 9% increase in unit volumes, marking a continued expansion in market share for three consecutive quarters. A noteworthy development this quarter was the extension of the company’s partnership with the U.S. General Services Administration (GSA) to include disposition services for approximately 35,000 remarketed vehicles annually, indicating potential for significant future revenue streams. On the operational side, RB Global’s process improvements and strategic investments have continued to bear fruit, evidenced by a high service level performance, with on-time tow and total performance rates at 99.7% and 99.8%, respectively.