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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Item 1. Condensed Consolidated Balance Sheets (Unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
| September 30,2024 | December 31,2023 | |
|---|---|---|
| ASSETS | ||
| Cash | $14.6 | $31.0 |
| Accounts receivable, net of allowances of $15.5 and $12.4 as of September 30, 2024 and December 31, 2023, respectively | 217.4 | 249.3 |
| Inventories, net | 565.2 | 530.7 |
| Prepaid expenses and other current assets | 29.2 | 27.0 |
| Total current assets | 826.4 | 838.0 |
| NON-CURRENT ASSETS | ||
| Property and equipment, net | 85.0 | 73.4 |
| Rental fleet, net | 385.3 | 391.4 |
| Operating lease right-of-use assets, net | 108.9 | 110.9 |
| Goodwill | 81.1 | 76.7 |
| Other intangible assets, net | 58.0 | 66.3 |
| Other assets | 4.4 | 14.2 |
| TOTAL ASSETS | $1,549.1 | $1,570.9 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Floor plan payable – new equipment | $309.2 | $297.8 |
| Floor plan payable – used and rental equipment | 86.7 | 99.5 |
| Current portion of long-term debt | 10.1 | 7.7 |
| Accounts payable | 93.7 | 97.0 |
| Customer deposits | 13.2 | 17.4 |
| Accrued expenses | 65.1 | 59.7 |
| Current operating lease liabilities | 15.1 | 15.9 |
| Current deferred revenue | 12.3 | 16.2 |
| Other current liabilities | 6.9 | 23.9 |
| Total current liabilities | 612.3 | 635.1 |
| NON-CURRENT LIABILITIES | ||
| Line of credit, net | 197.3 | 315.9 |
| Long-term debt, net of current portion | 478.7 | 312.3 |
| Finance lease obligations, net of current portion | 36.6 | 31.1 |
| Deferred revenue, net of current portion | 4.2 | 4.2 |
| Long-term operating lease liabilities, net of current portion | 99.2 | 99.6 |
| Deferred tax liabilities | 11.2 | 7.7 |
| Other liabilities | 13.9 | 15.3 |
| TOTAL LIABILITIES | 1,453.4 | 1,421.2 |
| STOCKHOLDERS’ EQUITY | ||
| Preferred stock, $0.0001 par value per share, 1,000,000 shares authorized, 1,200 shares issued and outstanding at both September 30, 2024 and December 31, 2023 (1,200,000 Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock) | — | — |
| Common stock, $0.0001 par value per share, 200,000,000 shares authorized; 33,092,441 and 32,369,820 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively | — | — |
| Additional paid-in capital | 242.6 | 233.8 |
| Treasury stock at cost, 1,093,516 and 862,182 shares of common stock held at September 30, 2024 and December 31, 2023, respectively | (7.9) | (5.9) |
| Accumulated deficit | (136.0) | (76.4) |
| Accumulated other comprehensive loss | (3.0) | (1.8) |
| TOTAL STOCKHOLDERS’ EQUITY | 95.7 | 149.7 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $1,549.1 | $1,570.9 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.