Commercial asset marketplace RB Global (NYSE: RBA) will be announcing earnings results this Monday after market hours. Here’s what to expect.
RB Global beat analysts’ revenue expectations last quarter, reporting revenues of $1.20 billion, up 5.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.
Is RB Global a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting RB Global’s revenue to grow 4.2% year on year, in line with the 4.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RB Global has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at RB Global’s peers in the business services & supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CECO Environmental delivered year-on-year revenue growth of 16.5%, beating analysts’ expectations by 4.1%, and Tetra Tech reported a revenue decline of 4.9%, topping estimates by 4.8%. CECO Environmental traded up 11.6% following the results while Tetra Tech was also up 1.4%.
Read our full analysis of CECO Environmental’s results here and Tetra Tech’s results here.
There has been positive sentiment among investors in the business services & supplies segment, with share prices up 10.1% on average over the last month. RB Global is up 7.2% during the same time and is heading into earnings with an average analyst price target of $125.18 (compared to the current share price of $104.90).
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