Alta Q4 2020 Earnings Report
Key Takeaways
Alta Equipment Group Inc. reported a 65.5% increase in net revenues to $280.4 million for the fourth quarter of 2020. Gross profit increased by 54.1% to $64.4 million, and adjusted EBITDA grew by 27.5% to $24.6 million. The company completed two acquisitions during the quarter, strengthening its presence in New York State and the Midwest construction markets.
Net revenues increased by 65.5% year over year to $280.4 million.
Gross profit increased by 54.1% year over year to $64.4 million.
Adjusted EBITDA grew by 27.5% to $24.6 million compared to $19.3 million last year.
Completed acquisitions of Vantage Equipment and Howell Tractor and Equipment.
Alta
Alta
Forward Guidance
The company is encouraged by positive trends in customer demand and believes that investments in technology, products, and people, combined with structural tailwinds in infrastructure and e-commerce, position it well to deliver increased financial results in 2021.
Positive Outlook
- Positive trends in customer demand.
- Re-branding of Material Handling business and addition of new services.
- Investments in technology, products, and people.
- Structural tailwinds in infrastructure.
- Structural tailwinds in e-commerce.