ALTA EQUIPMENT GROUP INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
ALTG$4.97-17.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations (Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| New and used equipment sales | $219.8 | $253.6 | $699.9 | $727.8 |
| Parts sales | 75.6 | 69.5 | 226.5 | 209.2 |
| Service revenues | 64.6 | 60.6 | 194.8 | 180.5 |
| Rental revenues | 53.7 | 54.0 | 155.9 | 147.1 |
| Rental equipment sales | 35.1 | 28.5 | 101.4 | 90.7 |
| Total revenues | 448.8 | 466.2 | 1,378.5 | 1,355.3 |
| Cost of revenues: | ||||
| New and used equipment sales | 184.4 | 212.0 | 588.7 | 601.3 |
| Parts sales | 50.0 | 45.3 | 149.2 | 138.2 |
| Service revenues | 26.3 | 26.5 | 80.2 | 77.0 |
| Rental revenues | 5.6 | 5.7 | 18.5 | 18.0 |
| Rental depreciation | 30.6 | 29.6 | 88.5 | 80.1 |
| Rental equipment sales | 27.3 | 21.0 | 76.2 | 66.5 |
| Total cost of revenues | 324.2 | 340.1 | 1,001.3 | 981.1 |
| Gross profit | 124.6 | 126.1 | 377.2 | 374.2 |
| General and administrative expenses | 110.6 | 106.8 | 339.7 | 316.0 |
| Non-rental depreciation and amortization | 7.2 | 5.4 | 21.3 | 16.0 |
| Total operating expenses | 117.8 | 112.2 | 361.0 | 332.0 |
| Income from operations | 6.8 | 13.9 | 16.2 | 42.2 |
| Other (expense) income: | ||||
| Interest expense, floor plan payable – new equipment | (3.2) | (2.4) | (8.7) | (5.8) |
| Interest expense – other | (19.4) | (12.8) | (49.2) | (35.1) |
| Other (expense) income | (0.3) | 1.4 | 1.6 | 2.6 |
| Loss on extinguishment of debt | — | — | (6.7) | — |
| Total other expense, net | (22.9) | (13.8) | (63.0) | (38.3) |
| (Loss) income before taxes | (16.1) | 0.1 | (46.8) | 3.9 |
| Income tax provision (benefit) | 11.6 | (7.3) | 4.7 | (6.9) |
| Net (loss) income | (27.7) | 7.4 | (51.5) | 10.8 |
| Preferred stock dividends | (0.7) | (0.7) | (2.2) | (2.2) |
| Net (loss) income available to common stockholders | $(28.4) | $6.7 | $(53.7) | $8.6 |
| Basic (loss) income per share | $(0.86) | $0.21 | $(1.62) | $0.27 |
| Diluted (loss) income per share | $(0.86) | $0.20 | $(1.62) | $0.26 |
| Basic weighted average common shares outstanding | 33,207,768 | 32,368,112 | 33,185,437 | 32,320,346 |
| Diluted weighted average common shares outstanding | 33,207,768 | 32,729,517 | 33,185,437 | 32,631,082 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited)
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