Alta Equipment Group Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:16 pm
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Alta Equipment Group Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 54 million compared to USD 50.2 million a year ago. Revenue was USD 466.2 million compared to USD 405 million a year ago. Net income was USD 7.4 million compared to USD 5.1 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.14 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.14 a year ago.
For the nine months, sales was USD 147.1 million compared to USD 131.5 million a year ago. Revenue was USD 1,355.3 million compared to USD 1,143.2 million a year ago. Net income was USD 10.8 million compared to USD 10 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.24 a year ago.
Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms. Through its branch network, the Company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks, heavy and compact earthmoving equipment, environmental processing equipment, and other material handling and construction equipment. The Company operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The Material Handling segment is principally engaged in operations related to the sale, service, and rental of lift trucks and other material handling equipment. The Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment. The Master Distribution segment is principally engaged in large-scale equipment distribution rights with sub-dealers throughout North America related to environmental processing equipment.