Alta Equipment (US:ALTG) Zacks Investment Researchยท2024-03-14 22:41Core 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]