Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Q3 2019 Earnings Conference Call - Final Transcript

Nov 08, 2019 • 11:00 am ET


Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Q3 2019 Earnings Conference Call - Final Transcript


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Karl Werner

to ensure this transition process is seamless as possible while allowing our teams to stay focused on our business and be fully empowered to do the best each day. We've been in auction business for over 60 years. We've seen many inflections in cycles come and go.

It's times like these where our determination shows and that is when our customers consider the implications of possible economic slowdown they turn to us seek council on disposition auctions timing and strategies. That is where we excel that is where trust experience become the biggest asset position as well to support both buyers and sellers after driving them with our absolute best levels of service and commitment to continuously improve overall experiences. Finally we will continue to be focused on our expense discipline and driving incremental leverage into our business while maximizing our cash efficiency and operating free cash flow.

With that let me turn the call back to Sharon to close this out.

Sharon R. Driscoll

Thank you Karl. So to recap we are pleased that the execution of our multi-channel strategy is showing positive results and with just one quick comment on Karl's remarks that we have seen year -- in the two years since its inception with Marketplace-E over $500 million of GTV transacted on that form. And that we have delivered strong financial performance across all of our core metrics of GTV revenue operating income earnings per share. We also continue to make great strides towards achieving our evergreen model targets. Our online acceleration this quarter was very strong. And with all of our core solutions of IronPlanet weekly Marketplace-E and GovPlanet posting positive growth.

Our U.S. team delivered a solid performance with positive live and online GTV and very strong revenue growth. We continue to be very disciplined and are pleased with the strength of our balance sheet and our positive cash flow generation. Finally we are very encouraged with the continued momentum in our business and confident our multichannel strategy positions us well for continued growth and value creation. At the end of the day this is a people business. And we would like to thank our entire team for their energy and passion for serving our customers and driving value for our shareholders.

And with that we are ready to move to the Q&A portion of the call. Operator please open the line to questions.