Published on 10 May 2024 on GuruFocus.com via Yahoo Finance
Alta Equipment Group Inc. (ALTG) Q1 2024 Earnings: Misses EPS Estimates Amid Seasonal Challenges
Revenue: Reached $441.6 million, marking a $20.9 million increase year-over-year, exceeding the estimated $420.40 million.Net Loss: Reported a net loss of $12.7 million, which was more than the estimated net loss of $8.15 million.Earnings Per Share (EPS): Basic and diluted net loss per share was $(0.38), worse than the estimated EPS of -$0.20.Adjusted EBITDA: Achieved $34.1 million, providing a measure of profitability from core business operations.Product Support Revenues: Increased by 6.5% year-over-year, with parts sales rising to $72.9 million and service revenues to $64.0 million, indicating robust aftermarket business.New and Used Equipment Sales: Grew by 4.1% year-over-year to $228.6 million, demonstrating continued demand for the company's equipment offerings.Rental Revenues: Increased by 11.5% from the previous year to $48.5 million, reflecting higher equipment utilization rates.
Warning! GuruFocus has detected 4 Warning Signs with ALTG.