Alta Equipment (US:ALTG)2025-03-06 03:10Financial Performance - Q4 2024 - Total revenue decreased by $23.4 million, a 4.5% decline, reaching $498.1 million compared to $521.5 million in Q4 2023 [12, 26] - Adjusted EBITDA decreased by 18.1% to $40.7 million, down from $49.7 million in Q4 2023 [26] - GAAP income from operations was $2.4 million, a decrease from $12.2 million in Q4 2023 [26] Financial Performance - Full Year 2024 - Revenue remained effectively flat at $1,876.6 million, compared to $1,876.8 million in 2023 [15] - Adjusted EBITDA decreased by 12.1%, or $23.1 million, to $168.3 million from $191.4 million in 2023 [16] - Income from Operations decreased $35.8 million, from $54.4 million year ended 2023 to $18.6 million in 2024 [15] Segment Performance - Q4 2024 - Construction segment revenue decreased by $9.5 million, a 2.9% decline, to $318.6 million [30] - Material Handling segment revenue decreased by $10.4 million, a 5.8% decline, to $168.6 million [30] - Master Distribution revenue was $11.5 million, a decrease from $17.6 million in Q4 2023 [30] Rental Fleet - Total rental fleet decreased by $29.6 million, ending at $571.2 million compared to $600.8 million in 2023 [42] - Rent-to-Rent fleet increased by $25.7 million to $224.2 million [42] - Rent-to-Sell fleet decreased by $55.3 million to $347.0 million [42] 2025 Outlook - Adjusted EBITDA is projected to be between $175.0 million and $190.0 million [67] - Organic revenue decreased by 3.5% compared to 2023 [36, 60]