RB Global Inc

RBA: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 44.00	Tfzkxl	Kxgrnglz

RB Global Earnings: We Expect Sales and Margin Growth in 2024

Dawit Woldemariam

May 10, 2024

RB Global reported first-quarter earnings ahead of our expectations. We increased our fair value estimate by 5% to $57 per share, up from $54. The increase was attributable to the time value of money and our higher near-term sales and margin expectations. In 2024, we project sales to increase by nearly 5% year on year while the operating margin expands by 260 basis points to 15.4%.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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