Ritchie Bros. Sets New Q1 Earnings Record

May 8, 2015

Ritchie Bros. achieved net earnings of $23.6 million for the first quarter of 2015, a new first-quarter earnings record for the company, and a 65-percent increase over Q1 2014 net earnings.

The Q1 2015 result also represents a 17-percent increase in revenue over last year's first quarter. Diluted earnings per share were $0.22, as compared to $0.13 for the same quarter in 2014.

“I am very pleased with our team’s performance during the first quarter, with strong year-on-year growth in revenue,earnings, operating freecash flow and return on net assets; and am especially encouraged by our strong results in Canada and the U.S., our two priority markets. The 12.1% revenue rate we achieved during the quarter was supportedby the excellent performance of our underwritten contracts,” said Ravi Saligram, CEO of Ritchie Bros.