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Jun 30, 2023
Alta Q2 2023 Earnings Report
Announced second quarter financial results, demonstrating revenue growth and strategic investments.
Key Takeaways
Alta Equipment Group reported a 15.2% increase in total revenues to $468.4 million, driven by growth in construction and material handling segments. The company's adjusted EBITDA grew by 20.5% to $49.9 million. Despite revenue growth, net income decreased to $1.7 million, compared to $5.4 million in the previous year.
Total revenues increased by 15.2% year-over-year, reaching $468.4 million.
Construction and Material Handling revenues amounted to $281.5 million and $169.1 million, respectively.
Product Support revenues increased by 19.1% year-over-year, with Parts Sales at $71.3 million and Service Revenues at $59.7 million.
Adjusted EBITDA grew by 20.5% to $49.9 million compared to the previous year.
Forward Guidance
The Company maintained its guidance range and expects to report Adjusted EBITDA between $180 million and $188 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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