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Stock impact report

Alta Equipment Group Inc (ALTG) Q3 2024 Earnings Call Highlights: Strategic Deleveraging and ... [Yahoo! Finance]

Alta Equipment Group Inc. Class A (ALTG) 
Company Research Source: Yahoo! Finance
Alta Equipment Group Inc ( NYSE:ALTG ) successfully reduced its general and administrative expenses, contributing to improved financial efficiency. The company achieved a significant reduction in rental fleet and working capital, allowing it to deleverage by nearly $40 million in the quarter. Alta Equipment Group Inc ( NYSE:ALTG ) delivered Nikola fuel cell trucks to DHL, marking progress in its electrification strategy. The high-margin product support business continues to perform strongly, with revenue increasing by 7.8% to $140.2 million. The company expanded its share buyback program to $20 million, indicating confidence in its long-term value. Alta Equipment Group Inc ( NYSE:ALTG ) experienced a significant decline in new and used equipment revenues, particularly in the construction equipment segment. The equipment sales and rental environment deteriorated, leading to underperformance in the third quarter. The company faced challenges in the construction segment, w Show less Read more
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