Ritchie Bros. Auctioneers
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Ritchie Bros. Auctioneers met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.
Margins grew across the board.
Ritchie Bros. Auctioneers recorded revenue of $92.3 million. The 11 analysts polled by S&P Capital IQ looked for revenue of $93.1 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $79.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.09. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.11 per share. GAAP EPS of $0.08 for Q3 were 33% higher than the prior-year quarter's $0.06 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 87.8%, 70 basis points better than the prior-year quarter. Operating margin was 16.2%, 510 basis points better than the prior-year quarter. Net margin was 8.9%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $123.5 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $444.7 million. The average EPS estimate is $0.83.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 149 members out of 158 rating the stock outperform, and nine members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Ritchie Bros. Auctioneers a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ritchie Bros. Auctioneers is hold, with an average price target of $22.29.
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