NYSE$ALTG
Alta Equipment Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Alta reported a mixed Q2 2024, with revenue increase offset by net loss.
Alta Equipment Group's Q2 2024 saw total revenues increase by $19.7 million year-over-year to $488.1 million. However, the company reported a net loss available to common stockholders of $(12.6) million, or $(0.38) per share. Adjusted EBITDA was $50.3 million, and adjusted EPS was $0.01. The company has updated its full year Adjusted EBITDA guidance to between $190.0 million and $200.0 million.
- Total revenues increased by $19.7 million year-over-year to $488.1 million.
- Product support revenues increased 10.1% year-over-year, with parts sales and service revenues increasing to $78.0 million and $66.2 million, respectively.
- Net loss available to common stockholders was $(12.6) million, or $(0.38) per share.
- Adjusted EBITDA was $50.3 million, with adjusted EPS of $0.01.
Headline financials
Revenue & EPS history
Alta · Revenue · Quarterly
$488M
Forward guidance
Alta Equipment Group updated its full year 2024 financial guidance and now expects to report Adjusted EBITDA between $190.0 million and $200.0 million.
Tailwinds
- Infrastructure related project pipelines are significant.
- State DOT budgets are expected to remain elevated in 2025.
- Spending on federal infrastructure programs is still in the early innings.
- Hyster-Yale Materials Handling product portfolio and commitment to advanced technologies will allow Alta to gain market share in key regions.
- eMobility business has approximately $25 million of sales backlog expected to convert to revenues in the second half of 2024.
Headwinds
- Market unit volumes in Construction Equipment segment remain under pressure due to uncertainty regarding interest rates and the election outcome.
- Construction equipment sales margins continued to be impacted by the oversupply of competitive new equipment on the market.
- Cost and fleet optimization and other initiatives to streamline business will be high priorities as Alta calibrates to the transitioning environment.
- Potential transitory headwinds for new equipment sales are expected.
- Uncertainty regarding interest rates and the election outcome, especially affecting small to mid-size contractors.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.0%
Avg return
Earnings day
-1.8%
Avg return
5 days after
-2.0%
Avg return
30 days after
39%
11 / 28 earnings
Positive
+23.3%
Q1 2020
Best reaction
-26.7%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -23.0% | -22.8% | |
| Q4 2025 | -6.6% | -12.7% | -31.2% | |
| Q3 2025 | -10.6% | -14.3% | -16.6% | |
| Q1 2025 | -1.3% | +18.0% | +30.8% | |
| Q4 2024 | -1.0% | -3.7% | -19.2% | |
| Q3 2024 | -5.8% | -17.4% | -11.7% | |
| Q2 2024 | -26.7% | -34.2% | -30.3% | |
| Q1 2024 | -17.0% | -27.6% | -29.1% | |
| Q4 2023 | +2.6% | +11.9% | +14.9% | |
| Q3 2023 | +14.3% | +11.1% | +11.6% | |
| Q2 2023 | -10.0% | -13.4% | -19.8% | |
| Q1 2023 | +4.0% | +11.1% | +11.7% | |
| Q4 2022 | -14.4% | -18.3% | -32.6% | |
| Q3 2022 | +7.7% | +4.6% | +0.3% | |
| Q2 2022 | +13.4% | +13.0% | +11.0% | |
| Q1 2022 | -4.3% | +0.5% | +7.4% | |
| Q4 2021 | +9.4% | +4.2% | -10.8% | |
| Q3 2021 | +4.0% | +3.4% | -16.6% | |
| Q2 2021 | -4.4% | -7.2% | -4.6% | |
| Q1 2021 | +16.4% | +13.7% | +1.6% | |
| Q4 2020 | +10.8% | +3.2% | +16.6% | |
| Q3 2020 | -8.2% | +0.0% | +2.4% | |
| Q2 2020 | +7.6% | +1.3% | -6.1% | |
| Q1 2020 | +23.3% | +32.2% | +76.4% | |
| Q4 2019 | -0.7% | -7.0% | +6.5% | |
| Q3 2019 | +0.0% | +0.0% | +1.1% | |
| Q2 2019 | -0.2% | -0.5% | +1.0% | |
| Q1 2019 | +0.0% | +1.3% | +1.0% | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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