RB Global Inc. posted higher Q2 revenue and adjusted earnings, driven by strong automotive sales, a growing digital platform, and strategic expansion moves in the U.K. and U.S.

In Q2, RB Global revenue rose 8% year-over-year to $1.2 billion. Service revenue grew 3% to $887.2 million and inventory sales revenue jumped 26% to $298.8 million. Gross transaction value (GTV) increased 2% to $4.2 billion, fueled by a 9% gain in automotive unit volume.

“We outpaced the market again in automotive, expanded our active buyer base, and welcomed two new international alliance partners,” CEO James Kessler told analysts.

How RB Global grew revenue in Q2

He said RB Global continues to refine its multichannel auction formats and is entering the peak season for catastrophic events with expanded capacity through partnerships such as NASCAR and the ability to leverage Ritchie Bros. yards.

Kessler announced a joint venture in the U.K. with LKQ Corp, combining LKQ’s specialty parts network with RB Global’s SYNETIQ parts business, which will be rebranded LKQ SYNETIQ. RB Global will retain its salvage auction operations, now operating under the IAA name.

In the commercial construction and transportation sectors, GTV fell 6% as customers delayed purchases amid economic uncertainty. RB Global countered by closing the acquisition of Alabama-based J.M. Wood, a move Kessler called “a strategic enhancement” of the company’s Southeast U.S. footprint.

Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports. Here’s our previous update on RB Global revenue.

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