08:33 AM EDT, 08/06/2024 (MT Newswires) -- RB Global ( RBA ) on Tuesday reported for the second quarter higher adjusted earnings per share compared to the year earlier period, but both diluted EPS and revenue missed forecast for the quarter.

Diluted adjusted earnings per share available to shareholders rose 15% to US$0.94 per diluted share, from US$0.82 last year. RBA said the increase was "mainly due to strong operational performance." But there were no comparable numbers at Capital IQ to tell accurately if RBA beat or missed forecast on EPS normalized.

Diluted EPS was $0.54, slightly lower than the forecast $0.55 at Capital IQ.

Revenue fell 1% to US$1.09 billion for the quarter. That did miss a Capital IQ forecast of $1,124.57 million. RBA noted total service revenue rose 7% to US$859.1 million while inventory sales revenue fell 21% to US$237 million due to lower revenue from commercial construction and transportation and automotive sectors.

On August 2, 2024, the company declared a quarterly cash dividend of $0.29 per common share, payable on September 18, 2024, to shareholders of record on August 28, 2024. This represented an increase of 7%.

RB Global ( RBA ) has trimmed its 2024 outlook for gross transaction value (GTV) growth to 0% to 2%, from the previous 1% to 4%. But it raised the Adjusted EBITDA forecast to $1,2200$1,270 million from $1,200 to $1,260. Capital Expenditures were left unchanged.