U.S. Markets open in 8 hrs 16 mins

Ritchie Bros.: 3Q Earnings Snapshot

BURNABY, British Columbia (AP) _ Ritchie Bros. Auctioneers Inc. (RBA) on Thursday reported third-quarter earnings of $25.3 million.

On a per-share basis, the Burnaby, British Columbia-based company said it had profit of 23 cents.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The heavy equipment auctioneer posted revenue of $289.8 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $282.7 million.

Ritchie Bros. shares have risen 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.58, a rise of 25% 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