Commercial asset marketplace RB Global (NYSE: RBA) will be announcing earnings results tomorrow after market close. Here’s what you need to know.
RB Global beat analysts’ revenue expectations by 7.9% last quarter, reporting revenues of $1.14 billion, up 9.7% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ EPS estimates.
Is RB Global a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting RB Global’s revenue to decline 2.6% year on year to $1.04 billion, a reversal from the 108% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.82 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RB Global has missed Wall Street’s revenue estimates twice over the last two years.
Looking at RB Global’s peers in the business services & supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CECO Environmental delivered year-on-year revenue growth of 39.9%, beating analysts’ expectations by 17%, and Steelcase reported revenues up 1.7%, in line with consensus estimates. CECO Environmental traded up 23.9% following the results while Steelcase was also up 6.5%.
Read our full analysis of CECO Environmental’s results here and Steelcase’s results here.
There has been positive sentiment among investors in the business services & supplies segment, with share prices up 11.2% on average over the last month. RB Global is up 12.1% during the same time and is heading into earnings with an average analyst price target of $108.70 (compared to the current share price of $101.48).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.