Alta Equipment Group Reports $20.9 Million Loss in Q1

News Summary

Alta Equipment Group Inc. (ALTG) announced a loss of $20.9 million for the first quarter of the year, falling short of Wall Street expectations. The revenue for the quarter also missed projections at $423 million, compared to the anticipated $436.6 million. Despite these financial challenges, the company’s Board of Directors approved a quarterly dividend, scheduled for payment on April 30, 2025. Alta operates over 85 locations in the U.S. and Canada, focusing on construction and material handling equipment amidst a turbulent financial environment.

Livonia, Michigan – Alta Equipment Group Inc. (ALTG) has reported a loss of $20.9 million for the first quarter of the year, which translates to a loss of 65 cents per share. These results fell short of Wall Street expectations, with analysts surveyed by Zacks Investment Research predicting a loss of only 60 cents per share.

The company’s revenue for the quarter also missed projections, amounting to $423 million compared to an anticipated $436.6 million. This marks a decline of $18.6 million in total revenues year-over-year, highlighting a challenging financial environment for the company.

In the final minutes of trading on Wednesday, Alta Equipment Group shares closed at $4.55. This represents a significant drop compared to a year ago when shares were trading at $11.82.

Financial Highlights

The first quarter financial performance details show that revenue from construction equipment sales amounted to $245.8 million, while material handling revenues totaled $157.9 million. This breakdown reveals key areas where the company is earning, but also demonstrates areas of struggle amid declining overall revenues.

Dividend Announcement

$625 per preferred share, translating to $0.625 for each outstanding Depositary Share that represents a fractional interest in one share of Series A Preferred. The dividend payment is scheduled for April 30, 2025 for shareholders recorded as of April 15, 2025.

Company Background

85 locations across various states in the U.S. and provinces in Canada. The company specializes in providing premium material handling, construction, and environmental processing equipment alongside associated services. This diverse focus positions Alta to serve a broad range of industries, although recent financial outcomes indicate significant challenges that may impact operations moving forward.

Deeper Dive: News & Info About This Topic

HERE Resources

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Additional Resources

• NH Register: Alta Equipment Q1 Earnings Snapshot
• Wikipedia: Alta Equipment Group
• GlobeNewswire: Alta Equipment Group Announces Preferred Stock Dividend
• Google Search: Alta Equipment Group
• Market Screener: Alta Equipment Q1 Earnings Snapshot
• Encyclopedia Britannica: Alta Equipment Group
• GlobeNewswire: Alta Equipment Group Announces Q4 and Full Year 2024 Financial Results
• Google News: Alta Equipment Group
• Washington Post: Alta Equipment Earnings
• Google Scholar: Alta Equipment Group

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