Alta Q1 2022 Earnings Report
Key Takeaways
Alta Equipment Group Inc. reported a 23.4% increase in net revenues year over year, reaching $331.7 million. Despite a net loss of $2.0 million, the company's Adjusted EBITDA grew by 30.4% to $30.0 million. The company maintained its full year 2022 Adjusted EBITDA guidance between $137 million and $142 million.
Net revenues increased 23.4% year over year to $331.7 million.
Construction and Material Handling revenue reached $206.1 million and $125.6 million, respectively.
Product Support revenue increased $21.5 million year over year to $101.6 million.
Adjusted EBITDA grew 30.4% to $30.0 million, compared to $23.0 million in 2021.
Alta
Alta
Forward Guidance
The Company maintained its guidance range and expects to report Adjusted EBITDA between $137 million and $142 million, net of new equipment floorplan interest, for the full year 2022.