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Ritchie Bros.: 2Q Earnings Snapshot

BURNABY, British Columbia (AP) _ Ritchie Bros. Auctioneers Inc. (RBA) on Thursday reported second-quarter net income of $54 million.

On a per-share basis, the Burnaby, British Columbia-based company said it had net income of 49 cents.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The heavy equipment auctioneer posted revenue of $393.2 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $345.2 million.

Ritchie Bros. shares have risen 8.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $35.50, an increase of roughly 3% 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