RB Global’s third-quarter adjusted EPS beat the supplied calendar estimate by 3%. Revenue grew 17%, and management raised its full-year GTV growth outlook.
RB Global (TSX: RBA) reported third-quarter 2026 results before market open on November 9. Adjusted earnings per share came in at US$1.03, compared with the supplied calendar estimate of US$1.00. Revenue rose 17% year over year to US$1.27 billion, while gross transaction value (GTV) increased 20% to US$4.7 billion. The company also raised its 2026 GTV growth outlook. For Canadian investors, the results are encouraging, but the mix of marketplace fees and inventory sales—and the outlook for margins—still deserves attention.
Recent earnings trend
RB Global
RBA.TO
RBA.TO
RB Global
WealthAwesomeMarket cap
$25.11B
P/E
42.2x
52W high
$165.86
52W low
$110.15
1W change
+3.59%
Beta
0.47
Analyst Price Targets
Based on analyst covering RBA · as of Nov 10, 2026
Wall Street analysts forecast RBA stock price to rise 10.3% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$149.47
+10.3% Upside
Previously C$148.51 on Nov 9, 2026
Current Price
C$135.56
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on RBA's historical volatility
30-Day Vol
35.1%
Annualized
90-Day Vol
41.4%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$162.06
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$143.87 | C$127.45 – C$162.42 |
| 60 trading days | C$152.70 | C$128.64 – C$181.26 |
| 90 trading days | C$162.06 | C$131.37 – C$199.93 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 11 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-09 | 1.0300 | 1.0000 | +3.0% |
| 2026-06-30 | 2026-08-04 | 1.1300 | 1.1300 | +0.0% |
| 2026-03-31 | 2026-05-04 | 1.0100 | 0.9700 | +4.1% |
| 2025-12-31 | 2026-02-17 | 1.1100 | 0.9900 | +12.1% |
| 2025-09-30 | 2025-11-06 | 0.9300 | 0.7900 | +17.7% |
| 2025-06-30 | 2025-08-06 | 1.0700 | 0.9600 | +11.5% |
Investor takeaway: Growth was broad-based, and adjusted EPS came in modestly above the estimate. Higher revenue and raised GTV guidance add support. But service revenue grew more slowly than GTV, and the service revenue take rate fell year over year. RBA.TO also trades at a trailing P/E of about 42, so investors are counting on continued growth and solid execution. The quarter strengthens the operating case, but valuation and margin risks remain.
US$1.27 billion
Third-quarter revenue rose 17% year over year, beating the supplied analyst consensus of US$1.18 billion by about 8%. Adjusted EPS of US$1.03 was 3% above the supplied calendar estimate of US$1.00. The company reported US$927.9 million in service revenue and US$346.5 million in inventory sales revenue.
Bull case
GTV grew 20% year over year to US$4.7 billion, and revenue rose 17% to US$1.27 billion. Adjusted EBITDA increased 13% to US$370.9 million, while adjusted EPS climbed 11% to US$1.03. Management raised its full-year GTV growth outlook to 14%–15%, up from 9%–11%, and lifted the midpoint of its adjusted EBITDA range to US$1.535 billion. RB Global also repurchased about 3.9 million shares during the quarter.
Bear case
Service revenue grew 10%, trailing GTV growth, and its take rate fell to 19.8% from 21.7% a year earlier. Inventory sales revenue rose 40%, but returns from inventory sales can shift with market conditions. The supplied fundamentals show a P/E of about 42 and no dividend yield, making the valuation reliant on sustained growth. Net income also benefited from an US$18.2 million excise tax refund related to the IAA acquisition.
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