BURNABY, British Columbia (AP) — BURNABY, British Columbia (AP) — Ritchie Bros. Auctioneers Inc. (RBA) on Tuesday reported fourth-quarter earnings of $45.3 million.
The Burnaby, British Columbia-based company said it had profit of 40 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The heavy equipment auctioneer posted revenue of $443.9 million in the period.
For the year, the company reported profit of $319.7 million, or $2.86 per share. Revenue was reported as $1.73 billion.
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