From GlobeNewswire: 2025-03-05 16:15:00

In the fourth quarter of 2024, Alta Equipment Group Inc. reported a decrease in total revenues to $498.1 million compared to the previous year. The net loss available to common stockholders was $(11.4) million, with a basic and diluted net loss per share of $(0.34). Adjusted EBITDA also decreased by 18.1% to $40.7 million. Additionally, new and used equipment sales decreased by 3.7% to $287.1 million.

For the full year of 2024, total revenues remained flat at $1,876.6 million compared to the previous year. The net loss available to common stockholders was $(65.1) million, with a basic and diluted net loss per share of $(1.96). Adjusted EBITDA decreased by 12.1% to $168.3 million.

CEO Ryan Greenawalt attributed the 2024 performance to factors such as interest rates and the U.S. presidential race affecting construction spending. Despite challenges, the company demonstrated resilience with flat revenues and growth in product support sales. The outlook for 2025 is positive, with expectations of equipment sales stabilization and cost optimization initiatives.

Alta Equipment Group Inc. operates as a leading provider of material handling, construction, and environmental processing equipment. With a branch network across North America, the company offers sales, rentals, parts, and services for various equipment categories. Alta has a diversified product portfolio and serves customers in the U.S. and Canada.

Adjusted EBITDA is a key financial measure used by Alta to evaluate its operating performance. It is defined as net income before interest, taxes, depreciation, amortization, and certain adjustments. The company also provides adjusted pre-tax net income per share to reflect one-time or non-recurring items. These non-GAAP measures help investors assess the company’s financial performance accurately.



Read more at GlobeNewswire:: Alta Equipment Group Announces Fourth Quarter and Full Year