earnings
confidence high
sentiment negative
materiality 0.80
Alta Equipment Q3 net loss $28.4M; revenue $448.8M; FY24 EBITDA guidance $170-175M
ALTA EQUIPMENT GROUP INC.
2024-Q3 EPS reported
-$1.62
revenue$1,378,500,000
- Total revenues of $448.8M, down $17.4M YoY; net loss available to common stockholders of $28.4M ($0.86 loss per share).
- Adjusted EBITDA of $43.2M; FY2024 guidance lowered to $170-175M from prior expectations.
- Product support revenues up 7.8% to $140.2M; new/used equipment sales down 13.3% to $219.8M.
- Board increased share buyback authorization from $12.5M to $20.0M.
- Reduced adjusted net debt by $38.7M; rental fleet OEC fell to $599M from $617.2M.