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Ritchie Bros.: 3Q Earnings Snapshot

Ritchie Bros.: 3Q Earnings Snapshot

Associated Press

BURNABY, British Columbia (AP) _ Ritchie Bros. Auctioneers Inc. (RBA) on Thursday reported third-quarter profit of $23.1 million.

On a per-share basis, the Burnaby, British Columbia-based company said it had profit of 21 cents. Earnings, adjusted for non-recurring gains, came to 18 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The heavy equipment auctioneer posted revenue of $245.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $223.8 million.

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Ritchie Bros. shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.36, a rise of 18 percent in the last 12 months.

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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