Ritchie Bros. Auctioneers reported record Q1/15 net earnings of $23.6 million, up 65% from $14.3 million in Q1/14. During the quarter, the company generated $115.6 million of revenue, a 17% increase compared to revenue of $98.6 million in Q1/14.

“I am very pleased with our team’s performance during the first quarter, with strong year-on-year growth in revenue, earnings, operating free cash 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 supported by the excellent performance of our underwritten contracts,” said Ravi Saligram, Chief Executive Officer.