Ritchie Bros. rises after announcing record results for Ohio, Ontario auctions
Shares of Ritchie Bros. (RBA) are rising in early trading after the company announced results Friday from two successful auctions. OHIO AND ONTARIO RESULTS: On Friday, Ritchie Bros. announced that it had conducted its largest-ever two-day auction in the United States. More than 3,400 equipment items were sold in Columbus, OH on September 28-29 for more $76M. More than $61M of the equipment was sold on Day One of the auction, marking the largest single sale day the company has ever had in the United States, the company noted. Also on Friday, Ritchie Bros. announced that it "continued its record-breaking year in Ontario" by selling over C$39M, or more than $30M in U.S. dollars, of equipment and trucks for the first time ever at its Toronto auction site. This was the second time this year the Toronto site has set a new sales record, Ritchie Bros. noted. PRICE ACTION: In early trading, Ritchie Bros. shares rose $1.17, or 3.3% to $36.24.