Ritchie Bros. Prelim Q4 Profit Climbs; Revenue Above View

(RTTNews) - Ritchie Bros. Auctioneers Inc.(RBA), an asset management and disposition firm, on Monday reported a rise preliminary earnings and revenue for the fourth-quarter and fiscal 2022.

For the final-quarter, the Canadian company posted a preliminary net income of around $42 million - $45 million, compared with last year's $30.595 million.

The company recorded preliminary revenue of approximately $444 million for December quarter, higher than $359.373 million of previous year quarter.

Six analysts, on average, polled by Thomson-Reuters expect the firm to report revenue of $410.57 million, for the quarter.

For 2022, Ritchie Bros. expects to report a net income of around $317 million - $320 million, compared with $151.868 million of 2021.

The company recorded preliminary revenue of approximately $1.7 billion, higher than $1.416 billion of previous fiscal.

Analysts, on average, polled by Thomson-Reuters expect the firm to post revenue of $1.7 billion, for the year.