Ritchie Bros. Reports Drop in 3Q Income

Ritchie Bros. Auctioneers said it earned $11.9 million, or 11 cents per share, in the third quarter, down from $14.9 million, or 14 cents, a year ago.

Gross auction proceeds rose 15% to $767.7 million, the company said in a statement.

Ritchie Bros. auctions industrial equipment, including trucks.