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Ritchie Bros.: 1Q Earnings Snapshot

BURNABY, British Columbia (AP) _ Ritchie Bros. Auctioneers Inc. (RBA) on Thursday reported first-quarter earnings of $18.2 million.

On a per-share basis, the Burnaby, British Columbia-based company said it had net income of 17 cents.

The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The heavy equipment auctioneer posted revenue of $303.4 million in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $283.8 million.

Ritchie Bros. shares have climbed nearly 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.64, a rise of 2.5% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBA at https://www.zacks.com/ap/RBA