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Dec 31, 2023
Alta Q4 2023 Earnings Report
Alta's financial performance demonstrated strong growth in Q4 2023, with a significant increase in total revenues and adjusted EBITDA.
Key Takeaways
Alta Equipment Group Inc. reported a 21.7% increase in total revenues, reaching $521.5 million for Q4 2023. Adjusted EBITDA grew by 16.4% to $49.7 million. However, the company experienced a net loss available to common stockholders of $(2.7) million, and a net loss per share of $(0.08).
Total revenues increased by 21.7% year over year to $521.5 million.
Adjusted EBITDA grew by 16.4% to $49.7 million compared to the prior year.
New and used equipment sales increased by 25.1% to $298.1 million.
Product support revenues increased by 14.2% year over year, driven by growth in both parts and service sales.
Forward Guidance
Alta Equipment Group anticipates continued growth and operating leverage in 2024, with a focus on improving shareholder value. The company expects to report Adjusted EBITDA between $207.5 million and $217.5 million for the 2024 fiscal year.
Positive Outlook
- Non-residential construction starts are forecast to increase compared to 2023.
- The material handling industry is forecasting another year of strong lift truck deliveries that is likely to resemble, if not exceed, the record year of lift truck deliveries in 2023.
- State DOT 2024 fiscal year budgets are more than 10% higher than last year.
- Customer sentiment aligns with the strength experienced in 2023.
- The company is focused on continued growth and operating leverage in 2024.
Challenges Ahead
- No specific negatives were mentioned in the provided text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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