Alta Equipment Group Inc. (ALTG) shares rallied 5.4% in the last trading session to close at $12.70. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.4% gain over the past four weeks.Alta Equipment’s rally is primarily driven by optimism over strong customer demand, a favorable pricing environment, an increase in new and used equipment sales and parts sales. Also, the acquisition of a distributor of market-l ...

Alta Equipment Group Inc. (NYSE:ALTG) Q4 2023 Earnings Conference Call March 14, 2024 5:00 PM ET Company Participants Jason Dammeyer - Investor Relations Ryan Greenawalt - Chairman and Chief Executive Officer Tony Colucci - Chief Financial Officer Conference Call Participants Matt Summerville - D.A. Davidson Steven Ramsey - Thompson Research Group Steve Hansen - Raymond James Min Cho - B. Riley Ted Jackson - Northland Securities Operator Good afternoon and thank you for attending the Alta Equipment Group Fo ...

Core Viewpoint - Alta Equipment reported a quarterly loss of $0.08 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.05, marking a 60% earnings surprise [1] - The company achieved revenues of $521.5 million for the quarter, exceeding the Zacks Consensus Estimate by 8.95% and showing a year-over-year increase from $428.6 million [1] Financial Performance - The quarterly loss of $0.08 per share compares to a loss of $0.05 per share a year ago [1] - The company has surpassed consensus EPS estimates three times over the last four quarters [1] - Alta Equipment's revenues of $521.5 million for the quarter ended December 2023 represent a significant increase from the previous year's revenues of $428.6 million [1] Market Performance - Alta Equipment shares have declined approximately 12.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.3% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.32 on revenues of $475.68 million, while for the current fiscal year, it is $0.16 on revenues of $2.03 billion [4] - The trend of estimate revisions for Alta Equipment is mixed, which could change following the recent earnings report [4] Industry Context - The Manufacturing - General Industrial industry, to which Alta Equipment belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Ascent Industries, is expected to report a quarterly loss of $0.08 per share, reflecting a significant year-over-year decline of 900% [5]

Fourth Quarter Financial Highlights: (comparisons are year over year) Total revenues increased 21.7% year over year to $521.5 millionConstruction and Material Handling revenues of $328.1 million and $179.0 million, respectivelyProduct support revenues increased 14.2% year over year with Parts sales increasing to $69.1 million and Service revenues increasing to $60.8 millionNew and used equipment sales grew 25.1% to $298.1 millionNet loss available to common stockholders of $(2.7) million compared to $(1.5) ...

ALTA EQUIPMENT GROUP INC. EARNINGS PRESS RELEASE Exhibit 99.1 Alta Equipment Group Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Adjusted EBITDA Guidance for 2024 Fourth Quarter Financial Highlights: (comparisons are year over year) • Total revenues increased 21.7% year over year to $521.5 million • Construction and Material Handling revenues of $328.1 million and $179.0 million, respectively • Product support revenues increased 14.2% year over year with Parts sales increasing t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38864 ALTA EQUIPMENT GROUP INC. (Exact name of Registrant as specified in its Charter) Delaware 83-2583782 (State or other jurisdicti ...

LIVONIA, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that it will report its financial results for the fourth quarter and year ended December 31, 2023, after the U.S. markets close on Thursday, March 14, 2024. In conjunction with this announcement, Alta management will host a conference call and webcast that af ...

LIVONIA, Mich., Feb. 26, 2024 (GLOBE NEWSWIRE) -- On February 22, 2024, Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, increased the size of the Board of Directors (the "Board") from five to six directors and subsequently appointed Sidhartha Nair to the Board, effective immediately. Mr. Nair, age 52, is the Head of Strategy, Americas Region, for Mercedes-Benz Mobility ...

Group 1 - Alta Equipment Group Inc. (ALTG) shares increased by 6.7% to $11.74, following a period of 7.6% loss over the past four weeks, indicating a significant recovery in stock performance [1] - The rally in Alta Equipment's stock is attributed to strong momentum in its construction and material handling businesses, along with solid orders and recent acquisitions of Burris Equipment and Ault Industries [1] - The company is projected to report a quarterly loss of $0.05 per share, unchanged from the previous year, with expected revenues of $478.68 million, reflecting an 11.7% increase year-over-year [1] Group 2 - The consensus EPS estimate for Alta Equipment has remained stable over the last 30 days, suggesting that the stock's price movement may not sustain without changes in earnings estimate revisions [2] - Alta Equipment holds a Zacks Rank of 3 (Hold), indicating a neutral outlook in the market [2] - The company operates within the Zacks Manufacturing - General Industrial industry, which includes other stocks like Xometry (XMTR), which also experienced a 4.3% increase in its stock price [2]

LIVONIA, Mich., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE:ALTG) ("Alta" or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is February 29, 2024, to shareholders of record at the close of business on February 15, 2024. About Alta Equipment G ...