Alta Q3 2022 Earnings Report
Key Takeaways
Alta Equipment Group Inc. reported a 37.3% increase in total revenues to $405.0 million and net income of $4.4 million, compared to a loss of $(0.6) million in the same quarter last year. Adjusted EBITDA grew by 39.2% to $44.0 million. The company also raised its full year 2022 Adjusted EBITDA guidance to between $155 million and $158 million.
Total revenues increased by 37.3% year over year to $405.0 million.
Net income available to common shareholders was $4.4 million, a significant improvement from the $(0.6) million loss in the previous year.
Adjusted EBITDA grew by 39.2% to $44.0 million.
The company raised its full year 2022 Adjusted EBITDA guidance to between $155 million and $158 million.
Alta
Alta
Forward Guidance
The Company is increasing its guidance range and currently expects to report Adjusted EBITDA between $155 million and $158 million, net of new equipment floorplan interest, for the full year 2022.