Alta Equipment Group Announces Third Quarter 2024 Financial Results
Alta Equipment Group Inc. Class A (ALTG)
Company Research
Source: GlobeNewswire
Third Quarter Financial Highlights: Total revenues decreased $17.4 million year over year to $448.8 millionConstruction Equipment and Material Handling revenues of $262.3 million and $168.9 million, respectivelyProduct support revenues increased 7.8% year over year with Parts sales increasing to $75.6 million and Service revenues increasing to $64.6 millionNew and used equipment sales decreased 13.3% year over year to $219.8 millionNet loss available to common stockholders of $(28.4) million Basic and diluted net loss per share of $(0.86)Adjusted basic and diluted net loss per share* of $(0.72)Adjusted EBITDA* of $43.2 millionThird quarter 2024 net loss was impacted by a $14.0 million discrete tax expense from increasing the valuation allowance on our deferred tax assets, specifically related to 163(j) interest limitations Additionally, on October 30, 2024, the Company's Board of Directors approved an increase to the share buyback authorization from $12.5 million to $20.0 mi
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News
- Analysts Have Been Trimming Their Alta Equipment Group Inc. (NYSE:ALTG) Price Target After Its Latest Report [Yahoo! Finance]Yahoo! Finance
- Alta Equipment Group Inc. (NYSE: ALTG) had its price target lowered by analysts at Raymond James from $10.00 to $9.00. They now have a "market perform" rating on the stock.MarketBeat
- Alta Equipment Group Inc. (NYSE: ALTG) was downgraded by analysts at Northland Capmk from a "strong-buy" rating to a "hold" rating.MarketBeat
- Alta Equipment Group Third Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Alta Equipment Group Inc. (NYSE: ALTG) had its "market perform" rating re-affirmed by analysts at Northland Securities. They now have a $20.00 price target on the stock, down previously from $30.00.MarketBeat
ALTG
Earnings
- 11/12/24 - Miss
ALTG
Sec Filings
- 11/13/24 - Form SC
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- ALTG's page on the SEC website