RB Global Expects Stronger Marketplace Trading as Equipment Sales Grow

RB Global Expects Stronger Marketplace Trading as Equipment Sales Grow

Billions of dollars’ worth of construction machinery, commercial vehicles and industrial assets change hands through RB Global’s marketplaces every year, providing a substantial secondary market for equipment that may have many years of working life remaining. The business is expecting another year of growth in 2026, with the owner of Ritchie Bros. forecasting an increase of between 9% and 11% in the total value of assets sold through its platforms.

The company now anticipates full-year financial results towards the upper end of its existing guidance, which includes adjusted EBITDA of between $1.495 billion and $1.545 billion. Alongside that stronger trading outlook, RB Global has announced a reorganisation of its senior management, bringing its North American heavy equipment operations under more unified leadership and combining digital marketplace development with acquisition strategy.

The figures offer an interesting perspective on the business of buying and selling used machinery, although RB Global’s operations extend well beyond construction equipment. Its automotive salvage and vehicle remarketing activities form another major part of the group, and the projected growth covers the company as a whole rather than the heavy equipment market alone.

Briefing

• RB Global expects its 2026 financial performance to reach the upper end of existing guidance.
• Gross transaction value is forecast to grow by 9% to 11% across the company’s marketplaces.
• Adjusted EBITDA guidance remains between $1.495 billion and $1.545 billion.
• Jake Lawson takes responsibility for Heavy Equipment & Transportation operations across North America.
• New executive appointments also cover digital strategy, acquisitions, finance and automotive operations.

The Business Behind the Auction Figures

The used equipment market is rarely a straightforward reflection of construction activity. A contractor completing a major road project may release a fleet of excavators and articulated dump trucks into the secondary market, while another business preparing for a new contract could be looking for exactly those machines. Rental companies regularly rotate their fleets to manage age, utilisation and maintenance costs, and equipment dealers use auctions to move stock that might otherwise remain tied up in their yards.

These transactions are driven by different commercial circumstances, yet they all contribute to the flow of machinery through auction houses and remarketing platforms. Some sellers are disposing of surplus assets, others are replacing equipment with newer models, and buyers may be expanding their fleets or simply looking for a more economical alternative to purchasing new machinery.

RB Global sits between these different requirements through its established network of physical auction facilities, digital marketplaces and associated services. Its Ritchie Bros. business has a long history in heavy equipment remarketing, serving contractors, dealers, rental companies and fleet owners across construction, transportation, agriculture and other industrial sectors.

The company’s financial performance is closely connected to the value of assets passing through these channels. Gross transaction value, or GTV, measures the total value of assets sold rather than the revenue RB Global earns from the transactions, and it can increase through higher sales volumes, stronger selling prices or changes in the types of equipment being traded.

That distinction is particularly relevant when looking at the 2026 outlook. Growth of 9% to 11% in group GTV indicates a larger value of transactions across RB Global’s marketplaces, but it does not establish whether more construction machines are being sold or whether used equipment prices are rising. The company has not provided a breakdown of the expected growth by equipment category or business division in its latest announcement.

Nevertheless, the expectation of results towards the top of the existing guidance range suggests that marketplace activity and the income generated from it have developed favourably enough for management to anticipate a stronger financial outcome.

Machinery That Keeps Moving Between Owners

Construction equipment often changes hands several times during its working life, particularly in sectors where machines are expensive to purchase and workloads fluctuate between projects. A large excavator may begin its career with a major contractor, move into a rental fleet and eventually find a new owner through an auction, with each transaction extending the commercial use of the original investment.

The economics of these movements depend on considerably more than the age of the machine. Operating hours, maintenance records, specification, attachments and overall condition can have a substantial influence on resale value, while regional demand and transport costs affect where equipment is likely to find its next buyer.

A machine that is surplus to requirements in one market may still be commercially attractive elsewhere, particularly when buyers are balancing acquisition costs against the remaining useful life of an asset. International equipment trading creates opportunities to reach a wider customer base, although shipping, customs requirements and the cost of preparing machinery for work can materially change the economics of a purchase.

For marketplace operators, the challenge is bringing suitable equipment to market while attracting enough qualified buyers to establish competitive prices. Physical auction locations provide opportunities for inspection and handling, while online platforms allow buyers to participate without travelling to every sale. The combination is particularly useful when equipment is distributed across large geographical areas or when buyers are searching for specific machines that may not be available locally.

RB Global’s network brings these activities together across several asset classes. Its scale gives sellers access to a broad marketplace, while buyers can search beyond their immediate region, although the value of that reach ultimately depends on the quality of the equipment available and the level of competition for individual assets.

The company’s projected GTV growth provides a measure of the value moving through this wider system. Whether that growth reflects a more active construction machinery market, firmer equipment values or stronger performance in automotive remarketing will become clearer through the group’s more detailed financial reporting.

Ritchie Bros. Operations Come Under Unified Leadership

RB Global’s management restructuring places Jake Lawson in charge of Heavy Equipment & Transportation North America, consolidating sales, operations, marketing, commercial activities, training and analytics within a single business leadership position.

Lawson has spent more than 25 years with Ritchie Bros. and most recently served as President and Head of North America Sales. His appointment brings together functions that have a direct influence on how equipment enters the marketplace, how sales are organised and how the business maintains relationships with contractors, dealers and other asset owners.

In equipment remarketing, the relationship between sales and operations is particularly close. Securing a large fleet disposal requires an understanding of the machines involved, the likely buyer audience and the practical arrangements needed to prepare and market the assets. The timing and location of a sale can also affect participation, especially when machinery is being offered to buyers operating across different regions.

Bringing these responsibilities under one executive gives RB Global a more unified management structure for its North American heavy equipment activities. The company has not announced changes to auction facilities, schedules or customer services, with the reorganisation concentrating on how the business is managed rather than introducing a new sales model.

Chief Executive Officer Jim Kessler said the changes were intended to strengthen accountability across the company’s operations: “The new leadership appointments elevate outstanding, proven talent within RB Global. The organizational update aligns this expertise with the Company’s success drivers and establishes clear owners of business unit performance.”

The restructuring also establishes separate commercial leadership for the automotive business, where Sam Wyant has been promoted to President of Auto North America and International. Wyant has more than 20 years of experience across automotive and heavy equipment markets, including senior roles at IAA, Ritchie Bros. and Volvo Construction Equipment.

Although the two divisions share the underlying business of connecting asset sellers with buyers, their operating requirements are quite different. Automotive salvage and vehicle remarketing involve different customer relationships, asset flows and processing arrangements from the sale of excavators, wheel loaders or commercial transport equipment. Dedicated leadership allows those activities to be managed according to their respective markets.

Digital Marketplaces and the Next Stage of Growth

The organisational changes extend beyond the management of physical assets. Shiv Dutt has been promoted to the newly created position of Chief Digital and Strategy Officer, combining responsibility for enterprise technology, digital development and mergers and acquisitions strategy.

Dutt previously served as Executive Vice President and Head of Ritchie Bros. Marketplace and will continue to oversee product and engineering for the Heavy Equipment & Transportation business. His expanded responsibilities bring marketplace technology into the same executive portfolio as decisions about future acquisitions and corporate development.

The digital side of equipment remarketing has requirements that are quite different from conventional online retail. Buyers are often assessing individual machines worth substantial sums, and two apparently similar assets may differ significantly in condition, configuration or remaining working life. Photographs, inspection information, service history and clear descriptions all help buyers make decisions, particularly when equipment is located hundreds or thousands of kilometres away.

Online bidding has also widened the geographical reach of traditional auction operations, allowing buyers to follow sales and compete for machinery without being physically present. That reach can benefit sellers looking for a larger audience, although transactions still depend on the practicalities of equipment inspection, payment, collection and transport.

For RB Global, managing digital development alongside acquisition strategy could help coordinate the systems and services supporting its different marketplace businesses. Integrating new operations into an established network can involve substantial work behind the scenes, from transaction processing and customer information to the presentation of equipment listings across multiple platforms.

The company has not announced a new acquisition or technology investment programme as part of the restructuring. The appointment instead brings these responsibilities under a single executive as RB Global continues to develop its marketplace operations.

Financial Outlook and Executive Changes

Steve Steinberg has been promoted to Chief Financial Officer, succeeding Eric Guerin after more than a decade with RB Global. Steinberg previously served as Senior Vice President and Head of Strategic Planning and Decision Support, overseeing financial planning, portfolio management, pricing and commercial operations.

His appointment comes as the company expects full-year financial performance towards the upper end of the outlook issued in August. RB Global continues to forecast GTV growth of 9% to 11%, alongside adjusted EBITDA of between $1.495 billion and $1.545 billion, without formally increasing either guidance range.

Adjusted EBITDA is a non-GAAP financial measure rather than net profit, and the company has not provided a reconciliation of its full-year forecast to GAAP net income. RB Global cites uncertainty over potential adjustments, including restructuring expenditure, acquisition-related costs and share-based compensation, which may affect the eventual reported result.

Steinberg has indicated that margin expansion, balance sheet flexibility and capital allocation will remain priorities, alongside shareholder returns and investment intended to support profitable growth.

The restructuring also involves the departure of Chief Operating Officer Steve Lewis. No direct replacement has been announced, with the revised organisation placing greater responsibility for business-unit performance with the executives leading heavy equipment and automotive operations.

A Growing Marketplace With Different Market Signals

RB Global enters the final quarter of 2026 expecting stronger financial performance within its existing guidance, supported by a marketplace business that handles a wide variety of commercial assets. The leadership changes bring greater responsibility for operating performance into its individual divisions while placing digital development and acquisition strategy under a single executive.

For the construction equipment market, the more revealing figures will be those showing how machinery transactions are developing beneath the group’s consolidated results. Auction volumes, average selling values and the types of equipment entering the secondary market can provide useful evidence of how contractors, dealers and rental companies are managing their fleets.

An increase in machinery disposals can accompany healthy fleet renewal, but it can also occur when contractors release equipment after projects finish or reduce capacity. Similarly, strong bidding for particular machine categories may reflect limited availability rather than a general improvement in construction demand.

RB Global’s latest outlook establishes that the value of transactions across its wider marketplaces is expected to grow during 2026. The company’s subsequent financial reporting will provide a better indication of how much of that activity is coming from heavy equipment and whether the secondary machinery market is experiencing stronger volumes, higher prices or simply a changing mix of assets.

Key Industry Questions

1. How much does RB Global expect its marketplace business to grow in 2026? RB Global forecasts full-year gross transaction value growth of 9% to 11%, with financial results expected towards the upper end of its existing guidance.
2. Does higher gross transaction value mean more used construction equipment is being sold? Not necessarily. GTV can increase through higher sales volumes, rising asset values or changes in the mix of equipment and vehicles sold. The company’s group forecast does not isolate construction machinery.
3. What influences the resale value of construction machinery? Operating hours, age, condition, maintenance history, specification and attachments all influence resale value, alongside regional demand, equipment availability and transport costs.
4. Why do contractors sell equipment through auctions? Contractors may use auctions to dispose of surplus machinery, replace ageing fleets, release capital or sell equipment following the completion of projects. Auctions can provide access to buyers beyond the contractor’s immediate region.
5. Who now leads RB Global’s North American heavy equipment operations? Jake Lawson has been appointed President of Heavy Equipment & Transportation North America, with responsibility for sales, operations and associated commercial functions.
6. What is RB Global’s adjusted EBITDA guidance for 2026? The company maintains adjusted EBITDA guidance of $1.495 billion to $1.545 billion and expects results towards the upper end of that range.
7. How is RB Global reorganising its digital operations? Shiv Dutt has been appointed Chief Digital and Strategy Officer, combining responsibility for enterprise technology, digital development and mergers and acquisitions strategy.
8. Will the management changes affect Ritchie Bros. auctions? RB Global has not announced changes to auction schedules, facilities or customer transaction arrangements in connection with the restructuring.

Strategic Takeaways

1. RB Global’s projected GTV growth indicates increasing transaction value across its marketplaces, although construction equipment volumes and pricing cannot be isolated from the group forecast.
2. The secondary equipment market supports fleet renewal, asset disposal and machinery redistribution, with auction activity driven by several different commercial circumstances.
3. Consolidating North American heavy equipment operations under Jake Lawson brings sales and operational responsibilities into a more unified management structure.
4. Combining digital development and acquisition strategy under Shiv Dutt creates closer organisational coordination between marketplace technology and future business expansion.
5. Financial results expected towards the upper end of existing guidance provide a positive backdrop for the restructuring, with more detailed segment reporting needed to assess underlying equipment market conditions.