Alta Q2 2021 Earnings Report
Key Takeaways
Alta Equipment Group Inc. reported a 52.4% increase in net revenues year over year, reaching $292.7 million. Adjusted EBITDA grew by 40.7% to $28.0 million. However, the company experienced a net loss of $15.7 million available to common shareholders.
Net revenues increased 52.4% year over year to $292.7 million.
Construction and Material Handling revenue reached $181.1 million and $111.6 million, respectively.
Product Support gross profit increased $13.4 million year over year to $39.5 million.
Adjusted EBITDA grew 40.7% to $28.0 million compared to $19.9 million in Q2 2020.
Alta
Alta
Forward Guidance
The Company maintained its guidance range, and expects to report Adjusted EBITDA between $110 million to $115 million, net of new equipment floorplan interest, for the full year 2021.