RB Global Lifts 2026 GTV Growth Outlook to 14%–15%

The Tip Desk · November 12, 2026 · 3 min read

Gross transaction value rose 20% year over year to $4.7 billion in the third quarter, faster than the 11% pace of the second quarter.

RB Global, Inc. (RBA), the marketplace for commercial assets, vehicles and real estate, reported gross transaction value of $4.7 billion for the three months ended September 30, 2026, up 20% from a year earlier. That pace was faster than the 11% year-over-year increase in the second quarter and the 13% increase in the first quarter.

The company said GTV growth reflected broad-based strength across all sectors. Excluding contributions from acquisitions that were not included in the prior-year period, total GTV increased 14%.

Revenue rose 17% year over year to $1.27 billion, after 11% growth in both the second and first quarters. Service revenue increased 10% to $927.9 million, a faster clip than the 5% year-over-year gains in the two prior quarters. Inventory sales revenue increased 40% to $346.5 million.

The service revenue take rate declined 186 basis points year over year to 19.8%. The company said the decline primarily reflected strategic portfolio mix, including the impact of acquisitions, divestitures and growth in automotive remarketing, with increased real estate transaction volumes and normal business mix also contributing. Marketplace services revenue declined 5% to $80.8 million.

Inventory sales revenue was attributed primarily to higher HE&T volumes, changes in HE&T customer contract preference and acquisitions, partially offset by lower automotive revenue. The inventory rate increased 54 basis points year over year to 5.2%.

Automotive GTV rose 18% to $2.53 billion, with lots sold up 8% to 652.2 thousand. The company said automotive GTV was driven by higher unit volumes, including net market share gains, and higher average selling prices across both salvage and remarketed vehicles. Heavy Equipment & Transportation GTV increased 19% to $1.93 billion, with lots sold up 24% to 202.2 thousand, driven by contributions from acquisitions not in the prior-year period and strong underlying growth. Other-sector GTV rose 88% to $214.5 million, primarily due to the addition of BigIron real estate transactions.

Net income available to common stockholders increased 59% year over year to $128.7 million, versus 33% growth in the second quarter and 21% in the first quarter. Diluted earnings per share available to common stockholders increased 63% to $0.70. The company said the increase was primarily due to higher operating income, a one-time $18.2 million excise tax refund related to the 2023 acquisition of IAA, and the non-recurrence of a $5.0 million adjustment to redeemable non-controlling interest recognized in the third quarter of 2025, partially offset by higher income tax expense.

Diluted adjusted earnings per share available to common stockholders increased 11% to $1.03. Adjusted EBITDA increased 13% to $370.9 million, after 6% growth in the second quarter and 11% in the first quarter. The company said adjusted EBITDA was driven by GTV growth and higher contribution from inventory returns, partially offset by higher operating expenses and the lower service revenue take rate.

The company updated its full-year 2026 outlook, raising GTV growth to 14% to 15% from the 9% to 11% range it had set on August 4, 2026, and lifting the low end of adjusted EBITDA to $1,525 million from $1,495 million, with the high end unchanged at $1,545 million. The full-year tax rate outlook moved to 22% to 24% from 23% to 25%. Capital expenditures remain $350 million to $400 million.

In the third quarter the company repurchased and retired approximately 3.9 million common shares for $350.0 million. Since launching the Normal Course Issuer Bid in the first quarter of 2026, it has retired about 5.4 million shares for $500.0 million, with $500.0 million remaining available. On November 6, 2026, the company declared a quarterly cash dividend of $0.33 a share, payable December 17, 2026.