Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Q3 2022 Results Conference Call November 7, 2022 8:00 AM ET
Company Participants
Sameer Rathod - VP, IR & Market Intelligence
Ann Fandozzi - CEO
Eric Jacobs - CFO
John Kett - CEO, IAA
Conference Call Participants
John Healy - Northcoast Research
Michael Doumet - Scotiabank
Gary Prestopino - Barrington Research
Michael Feniger - Bank of America
Craig Kennison - R.W. Baird
Sabahat Khan - RBC Capital Markets
Carolina Jolly - Gabelli
Bret Jordan - Jefferies
Bryan Fast - Raymond James
Vincent Foley - Barclays
Operator
Good morning, ladies and gentlemen. My name is Michelle, and I will be your conference operator today. Welcome to the Ritchie Brothers Third Quarter Earnings Conference. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer. [Operator Instructions]
I would now like to turn the call over to Mr. Sameer Rathod, Vice President of Investor Relations and Market Intelligence to open the conference call. Mr. Rathod, you may begin your conference.
Sameer Rathod
Hello and good morning, and thank you for joining us on today's call to discuss the acquisition of IAA as well as our third quarter 2022 results. Joining me today are Ann Fandozzi, our Chief Executive Officer; Eric Jacobs, our Chief Financial Officer; and John Kett, Chief Executive Officer of IAA.
The following discussion will include forward-looking statements. Comments that are not a statement of fact including, but not limited to, projections of future earnings, revenue, gross transaction value and other items and expectations regarding the proposed acquisition of IAA, including the anticipated timing, benefits and synergies of IAA transaction and future opportunities for the combined business of Ritchie Brothers and IAA are considered forward-looking and involve risks and uncertainties. These factors include but are not limited to the satisfaction of the closing conditions, including shareholder and regulatory approvals for the proposed transaction. The risks and uncertainties that could cause actual results to differ significantly from such forward-looking statements are detailed in our earnings and joint IAA transaction release issued this morning, as well as the most recent Quarterly Reports and Annual Report on Form 10-K each of Ritchie Brothers and IAA, which are available on their respective Investor Relations website on EDGAR and SEDAR as applicable.
We will also make important filings with the SEC and applicable Canadian Security Regulatory Authorities in connection with the proposed transaction. You are urged to read those materials carefully when they become available. On this call, we will also discuss certain non-GAAP financial measures, including forward-looking non-GAAP financial measures. For the identification of non-GAAP financial measures, the most directly comparable GAAP financial measures and applicable reconciliation of the two see our news release, Form 10-Q and presentation posted on our website. We are unable to present quantitative reconciliation of forward-looking non-GAAP financial measures as management cannot predict all necessary components of such measures, investors are cautioned not to place undue reliance on forward-looking non GAAP measures. We have two separate presentations on our website this morning, one for our normal earnings release and another standalone presentation for the IAA transaction. All figures discussed on today's call are in US dollars unless otherwise indicated.