Loading...
•
Mar 31, 2021
Alta Q1 2021 Earnings Report
Alta's Q1 2021 financial performance was reported, demonstrating significant revenue growth and improved profitability.
Key Takeaways
Alta Equipment Group Inc. reported a strong first quarter in 2021, with net revenues increasing by 48.9% year over year to $268.8 million. The company's adjusted EBITDA grew by 38.0% to $22.9 million. Despite the growth, Alta reported a net loss of $5.7 million, an improvement compared to the prior year's $17.0 million loss.
Net revenues increased by 48.9% year-over-year, reaching $268.8 million.
Construction and Material Handling revenues were $162.0 million and $106.8 million, respectively.
Gross profit increased to $67.3 million from $47.1 million year-over-year.
Adjusted EBITDA grew by 38.0% to $22.9 million compared to $16.6 million.
Alta
Alta
Forward Guidance
Alta expects to report Adjusted EBITDA in the range of $110 million to $115 million, net of new equipment floorplan interest, for the full year 2021.
Positive Outlook
- Expected Adjusted EBITDA growth of 35.5% over 2020.
- Capital raise of $315 million enhances capital structure.
- Increased ability to pursue growth strategy.
- Markets are showing confidence.
- Ability to execute on business plan.