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Mar 31, 2024
Alta Q1 2024 Earnings Report
Alta Equipment Group reported first quarter results, impacted by seasonal weather and strategic shifts.
Key Takeaways
Alta Equipment Group reported a revenue increase of $20.9 million year over year, reaching $441.6 million. Despite revenue growth, the company experienced a net loss of $(12.7) million, or $(0.38) per share, and an adjusted net loss per share of $(0.22). Adjusted EBITDA was reported at $34.1 million. The results reflect seasonal impacts on the Construction Equipment segment and a decrease in high-margin equipment sales within Ecoverse and Peaklogix.
Total revenues increased by $20.9 million year-over-year to $441.6 million.
Construction and Material Handling revenues reached $255.6 million and $174.3 million, respectively.
Product support revenues increased by 6.5% year-over-year, with Parts sales at $72.9 million and Service revenues at $64.0 million.
Adjusted EBITDA was reported as $34.1 million.
Revenue by Segment
Forward Guidance
Alta Equipment Group adjusted the top end of their 2024 guidance range and now expects to report Adjusted EBITDA between $207.5 million and $212.5 million for the 2024 fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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