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Ritchie Bros. Auctioneers Incorporated Message Board

  • bullbreeder bullbreeder Feb 25, 2008 1:47 PM Flag

    orlando sale

    missed estimate by 30mil. i'd heard a # of 220mil. my equip was down 15-20%.

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    • Avg lot last year was about $26.1K , this year $30.6K. Of course depends on the equipment mix. What also has a big effect is their "purchase for sale" lots. If prices were higher than they expected this could have a big effect on the bottom line.

      Weakness may be caused by
      1) investors who don't understand good times/bad times nature of their business
      2) mention of 13% est growth rate rather than the 15% they have held forth for the last several years.
      3) Cap ex in the range 100-150M/year, several years ago they were talking 50-100 /year.
      4) This is a long term investment - ask yourself where will they be 6 years (not 6 months) from now.

      Expect div increase to .085-.09 on the new shares. .09 would be 12% increase in line with earnings growth.

    • That's funny I heard it was over the estimate. What lot's did you have in the sale? A few people I talked to did not buy because the price was too high.

 
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