Ritchie Bros. Reports 30% Increase in Q2 Earnings

Ritchie Bros. Auctioneers announces net earnings of $38.6 million for the three months ended June 30, 2014. This is a 30% increase compared to net earnings of $29.8 million generated in the same quarter last year.

The company’s revenues for the second quarter of 2014 increased 11% to $141.8 million compared to $128.3 million for the same period in 2013, primarily as a result of an increase in gross auction proceeds.

For the six months ended June 30, 2014, net earnings were $52.9 million up 21% from $43.8 million for the same period one year earlier. The company’s revenues during the first half of 2014 grew 4% to $240.4 million compared to $230.4 million in the first half of 2013.

During the second quarter of 2014, the company conducted 68 unreserved industrial auctions in 14 countries throughout North America, Central America, Europe, the Middle East, Australia and Asia.

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