Alta Equipment Group Announces Third Quarter 2025 Financial Results
Alta Equipment Group (NYSE: ALTG) reported third quarter 2025 results for the period ended September 30, 2025. Total revenues were $422.6 million, down $26.2 million or 5.8% year‑over‑year. Product support revenues rose 1.1% to $141.7 million and product support gross margin improved 160 basis points to 47.2%. The company recorded a net loss available to common stockholders of $(42.3) million, or $(1.31) per share, and Adjusted EBITDA of $41.7 million, down $1.5 million. A $24.4 million income tax expense related to a valuation allowance from the OBBBA legislation affected results. Alta completed the Dock and Door divestiture for $6.4 million and updated full‑year 2025 Adjusted EBITDA guidance to $168–$172 million.
Alta Equipment Group (NYSE: ALTG) ha riportato i risultati del terzo trimestre 2025 per il periodo terminato il 30 settembre 2025. I ricavi totali sono stati di 422,6 milioni di dollari, in calo di 26,2 milioni di dollari o del 5,8% rispetto all'anno precedente. I ricavi dai servizi di supporto ai prodotti sono aumentati dello 1,1% a 141,7 milioni di dollari e il margine lordo di supporto ai prodotti è migliorato di 160 punti base al 47,2%. La società ha registrato una perdita netta attribuibile agli azionisti ordinari di $(42,3) milioni, o $(1,31) per azione, e un EBITDA rettificato di 41,7 milioni di dollari, in diminuzione di 1,5 milioni. Una spesa per imposte sul reddito di 24,4 milioni di dollari correlata a una svalutazione derivante dalla normativa OBBBA ha influenzato i risultati. Alta ha completato la cessione di Dock and Door per 6,4 milioni di dollari e ha aggiornato le previsioni per l'EBITDA rettificato per l'intero 2025 a $168–$172 milioni.
Alta Equipment Group (NYSE: ALTG) reportó los resultados del tercer trimestre de 2025 para el periodo terminado el 30 de septiembre de 2025. Los ingresos totales fueron de 422,6 millones de dólares, una disminución de 26,2 millones de dólares o del 5,8% interanual. Los ingresos por servicios de soporte de productos aumentaron un 1,1% a 141,7 millones de dólares y el margen bruto de soporte de productos mejoró 160 puntos base a 47,2%. La compañía registró una pérdida neta atribuible a los accionistas comunes de (42,3) millones de dólares, o (1,31) por acción, y un EBITDA ajustado de 41,7 millones de dólares, a la baja en 1,5 millones. Una spesa por impuesto sobre la renta de 24,4 millones de dólares relacionada con una provisión de valuación derivada de la legislación OBBBA afectó los resultados. Alta completó la desinversión de Dock and Door por 6,4 millones de dólares y actualizó la guía de EBITDA ajustado para todo 2025 a $168–$172 millones.
Alta Equipment Group (NYSE: ALTG)는 2025년 9월 30일 종료된 기간에 대한 2025년 3분기 실적을 발표했습니다. 총매출은 4억 2260만 달러로 전년 동기 대비 2620만 달러, 5.8% 감소했습니다. 제품 지원 매출은 1.1% 증가한 1억 4170만 달러였고, 제품 지원 매출 총이익률은 160bp 상승한 47.2%로 개선되었습니다. 회사는 보통주주 귀속 순손실로 4230만 달러, 주당 1.31달러의 손실을 기록했고, 조정 EBITDA는 4170만 달러로 150만 달러 감소했습니다. OBBBA 법안으로 인한 평가충당금과 관련된 2440만 달러의 법인세 비용이 결과에 영향을 미쳤습니다. Alta는 Dock and Door 매각을 640만 달러에 완료했고, 2025년 연간 조정 EBITDA 가이던스를 $168–$172 백만로 업데이트했습니다.
Alta Equipment Group (NYSE: ALTG) a publié les résultats du troisième trimestre 2025 pour la période se terminant le 30 septembre 2025. Les revenus totaux ont été de 422,6 millions de dollars, en baisse de 26,2 millions de dollars, soit -5,8% d'une année sur l'autre. Les revenus de support produit ont augmenté de 1,1% pour atteindre 141,7 millions de dollars et la marge brute de support produit s'est améliorée de 160 points de base à 47,2%. L'entreprise a enregistré une perte nette attribuable aux actionnaires ordinaires de (42,3) millions de dollars, ou (1,31) dollar par action, et un EBITDA ajusté de 41,7 millions de dollars, en baisse de 1,5 million. Une dépense fiscale sur les revenus de 24,4 millions de dollars liée à une provision d'évaluation résultant de la législation OBBBA a affecté les résultats. Alta a finalisé la cession de Dock and Door pour 6,4 millions de dollars et a mis à jour les prévisions annuelles de l'EBITDA ajusté pour l'ensemble de 2025 à $168–$172 millions.
Alta Equipment Group (NYSE: ALTG) hat die Ergebnisse des dritten Quartals 2025 für den Zeitraum zum 30. September 2025 gemeldet. Gesamtumsatz betrug 422,6 Mio. USD, ein Rückgang von 26,2 Mio. USD bzw. 5,8% gegenüber dem Vorjahr. Produktunterstützungsumsätze stiegen um 1,1% auf 141,7 Mio. USD, und die Bruttomarge der Produktunterstützung verbesserte sich um 160 Basispunkte auf 47,2%. Das Unternehmen verzeichnete eine Nettogewinn verfügbar für Stammaktionäre von (42,3) Mio. USD bzw. (1,31) USD pro Aktie, und ein Bereinigtes EBITDA von 41,7 Mio. USD, das um 1,5 Mio. USD sank. Eine 24,4 Mio. USD hohe Ertragssteuerbelastung im Zusammenhang mit einer Bewertungsrückstellung aus der OBBBA-Gesetzgebung hat die Ergebnisse beeinflusst. Alta schloss die Veräußerung von Dock and Door für 6,4 Mio. USD ab und hob die Guidance für das bereinigte EBITDA für das Gesamtjahr 2025 auf $168–$172 Millionen an.
Alta Equipment Group (NYSE: ALTG) أبلغت عن نتائج الربع الثالث من عام 2025 للفترة المنتهية في 30 سبتمبر 2025. إجمالي الإيرادات بلغ 422.6 مليون دولار، بانخفاض قدره 26.2 مليون دولار أو 5.8% على أساس سنوي. إيرادات دعم المنتج ارتفعت بنسبة 1.1% لتصل إلى 141.7 مليون دولار و< b>إجمالي هامش دعم المنتج تحسن بمقدار 160 نقطة أساس ليصل إلى 47.2%. سجلت الشركة خسارة صافية متاحة للمساهمين العاديين قدرها (42.3) مليون دولار، أو (1.31) دولار للسهم، و< b>EBITDA المعدل قدره 41.7 مليون دولار، بانخفاض قدره 1.5 مليون. تأثرت النتائج بمصروف ضريبي قدره 24.4 مليون دولار متعلق بمخصص التقييم من تشريعات OBBBA. أكملت Alta بيع Dock and Door مقابل 6.4 مليون دولار وتحديث توجيهات EBITDA المعدلة للسنة الكاملة 2025 إلى $168–$172 مليون.
- Product support revenue +1.1% to $141.7M
- Product support gross margin +160 bps to 47.2%
- SG&A reduction of $4.7M in Q3 and $24.8M YTD
- Updated 2025 Adjusted EBITDA guidance of $168M–$172M
- Total revenues down $26.2M (5.8%) to $422.6M
- Net loss available to common $(42.3M); basic/diluted EPS $(1.31)
- Adjusted EBITDA decreased $1.5M to $41.7M
- Income tax expense $24.4M due to valuation allowance from OBBBA
- Rental fleet approximately $40M below prior year, reducing rental revenues
Insights
Mixed quarter: underlying operations show resilience in product support and cost control, but revenue decline and a large non-cash tax charge produced a net loss.
Alta Equipment Group reported total revenues of
The quarter produced a net loss available to common stockholders of
Key dependencies and risks are explicit: near‑term revenue recovery hinges on equipment demand and the timing of fleet replenishment, and the tax accounting change creates a one‑time earnings headwind though it may reduce future cash taxes. Watch quarterly rental revenues, rental equipment sales, and Adjusted EBITDA against the updated guidance over the remainder of
Third Quarter Financial Highlights:
- Total revenues decreased
$26.2 million year over year to$422.6 million - Material Handling revenues decreased
$1.0 million year over year to$167.9 million , while Construction Equipment and Master Distribution revenues decreased a combined$23.9 million year over year to$256.6 million - Product support revenues increased
1.1% year over year to$141.7 million for the quarter - Product support gross profit percentage increased 160 basis points year over year to
47.2% - Selling, general and administrative expenses decreased by
$4.7 million year over year - Income tax expense of
$24.4 million primarily related to valuation allowance impacts of the One Big Beautiful Bill Act (“OBBBA”) - Net loss available to common stockholders of
$(42.3) million - Basic and diluted net loss per share of
$(1.31) - Adjusted basic and diluted pre-tax net loss per share* of
$(0.35) - Adjusted EBITDA* decreased
$1.5 million year over year to$41.7 million
LIVONIA, Mich., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”, "we", "our" or the “Company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced financial results for the third quarter ended September 30, 2025.
CEO Comment:
Ryan Greenawalt, Chief Executive Officer of Alta, said “Our employees delivered exceptional performance in the third quarter, navigating a challenging environment marked by subdued capital investment on material handling and heavy equipment across select end markets and geographies. Industry volumes have remained depressed throughout the year and have persisted below the norm now for multiple quarters. Despite this, and while equipment sales were down during the quarter, October emerged as our strongest month of the year in that category, especially in the Construction Equipment segment. We are hopeful this signals continued customer activity for the remainder of the year as we believe the recent surge reflects a positive buyer response to the recently enacted OBBBA and the latest rounds of interest rate cuts. Looking ahead, we are encouraged by October’s momentum and remain confident in a return to normalized industry volumes across both of our major segments.” Mr. Greenawalt continued, saying “Importantly, our product support business lines continued to act as a pillar of strength for our business in the quarter, increasing versus last year and in the face of a volatile macroenvironment. In our Construction Equipment segment, our strategic focus remains on serving customers engaged in long-term federal and state DOT infrastructure projects. Notably, DOT spending budgets in our major U.S. markets are projected to rise another
Mr. Greenawalt continued, “In terms of our financial performance, total revenues for the quarter decreased
In conclusion, Mr. Greenawalt said, “The fourth quarter is shaping up to be strong for our business, with demand for heavy earthmoving equipment gaining momentum as customers act on the tax incentives provided by the OBBBA. We also believe we are also entering a fleet replenishment cycle, which we are optimistic will extend into next year. In the meantime, our management team is laser focused on executing sales initiatives to drive market share and enhancing operational and capital efficiency to ultimately drive improved profitability and cash flows. In conclusion, while equipment markets have faced headwinds for nearly two years, our strong October sales performance, a more favorable interest rate environment, the benefits of the OBBBA, our belief over the long-term in the equipment replenishment cycle, and the confidence we have in our OEM partners give us reassurance as we look forward to 2026.”
Full Year 2025 Financial Guidance and Other Financial Notes:
- In July 2025, the OBBBA was enacted into law. Before OBBBA was enacted, interest expense limitation rules positioned the Company in a taxable income situation prior to the application of its net operating loss carryforwards (“NOLs”), the use of which were limited and unable to shield the entirety of the Company’s taxable income. This resulted in cash taxes paid in recent years which reduced available cash liquidity. As the Company was using its NOLs, there was no need to recognize a valuation allowance against the NOL deferred tax assets (“DTAs”). For the Company, the enactment of the OBBBA legislative changes resulted in a taxable loss position on a trailing 12-quarter recast basis, prior to the application of its NOLs, primarily as a result of the change to the interest expense limitation rules. Thus, future usage of the Company’s NOLs to shield taxable income was no longer more likely than not and a full valuation allowance against those NOL DTAs was deemed appropriate, leading to the significant increase in a non-recurring, non-cash deferred income tax expense for the three and nine months ended September 30, 2025. Going forward, given the change to the interest expense limitation and the Company now being in a taxable loss situation, cash taxes paid by the Company will be reduced, a benefit to available cash liquidity in the future. Overall, the Company views the attributes of the OBBBA as a net positive for both the Company and its customer base.
- On August 29, 2025, the Company's Material Handling segment entered into a definitive agreement and closed on the divestiture of its Dock and Door business for
$6.4 million ,$3.1 million of which was paid in cash at close with the remainder of the cash consideration expected to be paid to the Company upon a working capital true-up and the collection of specific customer receivables. - The Company updates our guidance range and now expects to report Adjusted EBITDA between
$168.0 million and$172.0 million for the 2025 fiscal year.
CONDENSED CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) (amounts in millions unless otherwise noted) | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Increase (Decrease) | Nine Months Ended September 30, | Increase (Decrease) | ||||||||||||||||||||||||||||
| 2025 | 2024 | 2025 versus 2024 | 2025 | 2024 | 2025 versus 2024 | ||||||||||||||||||||||||||
| Revenues: | |||||||||||||||||||||||||||||||
| New and used equipment sales | $ | 211.1 | $ | 219.8 | $ | (8.7 | ) | (4.0 | )% | $ | 698.4 | $ | 699.9 | $ | (1.5 | ) | (0.2 | )% | |||||||||||||
| Parts sales | 75.3 | 75.6 | (0.3 | ) | (0.4 | )% | 222.9 | 226.5 | (3.6 | ) | (1.6 | )% | |||||||||||||||||||
| Service revenues | 66.4 | 64.6 | 1.8 | 2.8 | % | 197.4 | 194.8 | 2.6 | 1.3 | % | |||||||||||||||||||||
| Rental revenues | 48.4 | 53.7 | (5.3 | ) | (9.9 | )% | 137.0 | 155.9 | (18.9 | ) | (12.1 | )% | |||||||||||||||||||
| Rental equipment sales | 21.4 | 35.1 | (13.7 | ) | (39.0 | )% | 71.1 | 101.4 | (30.3 | ) | (29.9 | )% | |||||||||||||||||||
| Total revenues | 422.6 | 448.8 | (26.2 | ) | (5.8 | )% | 1,326.8 | 1,378.5 | (51.7 | ) | (3.8 | )% | |||||||||||||||||||
| Cost of revenues: | |||||||||||||||||||||||||||||||
| New and used equipment sales | 179.5 | 184.4 | (4.9 | ) | (2.7 | )% | 596.1 | 588.7 | 7.4 | 1.3 | % | ||||||||||||||||||||
| Parts sales | 47.6 | 50.0 | (2.4 | ) | (4.8 | )% | 145.9 | 149.2 | (3.3 | ) | (2.2 | )% | |||||||||||||||||||
| Service revenues | 27.2 | 26.3 | 0.9 | 3.4 | % | 79.7 | 80.2 | (0.5 | ) | (0.6 | )% | ||||||||||||||||||||
| Rental revenues | 6.0 | 5.6 | 0.4 | 7.1 | % | 16.2 | 18.5 | (2.3 | ) | (12.4 | )% | ||||||||||||||||||||
| Rental depreciation | 27.8 | 30.6 | (2.8 | ) | (9.2 | )% | 79.7 | 88.5 | (8.8 | ) | (9.9 | )% | |||||||||||||||||||
| Rental equipment sales | 16.7 | 27.3 | (10.6 | ) | (38.8 | )% | 54.1 | 76.2 | (22.1 | ) | (29.0 | )% | |||||||||||||||||||
| Total cost of revenues | 304.8 | 324.2 | (19.4 | ) | (6.0 | )% | 971.7 | 1,001.3 | (29.6 | ) | (3.0 | )% | |||||||||||||||||||
| Gross profit | 117.8 | 124.6 | (6.8 | ) | (5.5 | )% | 355.1 | 377.2 | (22.1 | ) | (5.9 | )% | |||||||||||||||||||
| Selling, general and administrative expenses | 105.9 | 110.6 | (4.7 | ) | (4.2 | )% | 314.9 | 339.7 | (24.8 | ) | (7.3 | )% | |||||||||||||||||||
| Non-rental depreciation and amortization | 7.1 | 7.2 | (0.1 | ) | (1.4 | )% | 22.2 | 21.3 | 0.9 | 4.2 | % | ||||||||||||||||||||
| Total operating expenses | 113.0 | 117.8 | (4.8 | ) | (4.1 | )% | 337.1 | 361.0 | (23.9 | ) | (6.6 | )% | |||||||||||||||||||
| Income from operations | 4.8 | 6.8 | (2.0 | ) | (29.4 | )% | 18.0 | 16.2 | 1.8 | 11.1 | % | ||||||||||||||||||||
| Other (expense) income: | |||||||||||||||||||||||||||||||
| Interest expense, floor plan payable – new equipment | (2.6 | ) | (3.2 | ) | 0.6 | (18.8 | )% | (8.7 | ) | (8.7 | ) | — | — | ||||||||||||||||||
| Interest expense – other | (19.8 | ) | (19.4 | ) | (0.4 | ) | 2.1 | % | (57.9 | ) | (49.2 | ) | (8.7 | ) | 17.7 | % | |||||||||||||||
| Other (expense) income | — | (0.3 | ) | 0.3 | (100.0 | )% | 1.7 | 1.6 | 0.1 | 6.2 | % | ||||||||||||||||||||
| Loss on extinguishment of debt | — | — | — | NM | — | (6.7 | ) | 6.7 | NM | ||||||||||||||||||||||
| Gain on divestitures | 0.4 | — | 0.4 | NM | 4.7 | — | 4.7 | NM | |||||||||||||||||||||||
| Total other expense, net | (22.0 | ) | (22.9 | ) | 0.9 | (3.9 | )% | (60.2 | ) | (63.0 | ) | 2.8 | (4.4 | )% | |||||||||||||||||
| Loss before taxes | (17.2 | ) | (16.1 | ) | (1.1 | ) | NM | (42.2 | ) | (46.8 | ) | 4.6 | NM | ||||||||||||||||||
| Income tax provision | 24.4 | 11.6 | 12.8 | NM | 26.4 | 4.7 | 21.7 | NM | |||||||||||||||||||||||
| Net loss | (41.6 | ) | (27.7 | ) | (13.9 | ) | NM | (68.6 | ) | (51.5 | ) | (17.1 | ) | NM | |||||||||||||||||
| Preferred stock dividends | (0.7 | ) | (0.7 | ) | — | — | (2.2 | ) | (2.2 | ) | — | — | |||||||||||||||||||
| Net loss available to common stockholders | $ | (42.3 | ) | $ | (28.4 | ) | $ | (13.9 | ) | NM | $ | (70.8 | ) | $ | (53.7 | ) | $ | (17.1 | ) | NM | |||||||||||
| Adjusted EBITDA(1) | $ | 41.7 | $ | 43.2 | $ | (1.5 | ) | (3.5 | )% | $ | 123.8 | $ | 127.6 | $ | (3.8 | ) | (3.0 | )% | |||||||||||||
| NM - calculated change not meaningful | |||||||||||||||||||||||||||||||
(1) Adjusted EBITDA is a non-GAAP measure. Refer below to “Use of Non-GAAP Financial Measures” for a definition of Adjusted EBITDA and "Reconciliation of Non-GAAP Financial Measures" for a reconciliation of our Adjusted EBITDA to net loss, the most comparable U.S. GAAP measure.
Conference Call Information:
Alta management will host a conference call and webcast today at 5:00 p.m. Eastern Time to discuss and answer questions about the Company’s financial results for the quarter ended September 30, 2025. Additionally, supplementary presentation slides will be accessible on the “Investor Relations” section of the Company’s website at https://investors.altaequipment.com.
Conference Call Details:
| What: | Alta Equipment Group Third Quarter 2025 Earnings Call and Webcast |
| Date: | Thursday, November 6, 2025 |
| Time: | 5:00 p.m. Eastern Time |
| Live call: | (833) 470-1428 |
| International: | (404) 975-4839 https://www.netroadshow.com/events/global-numbers?confId=89410 |
| Live call access code: | 207108 |
| Audio replay: | (866) 813-9403 |
| Replay access code: | 585898 |
| Webcast: | https://events.q4inc.com/attendee/192116383 |
The audio replay will be archived through November 13, 2025.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, we sell, rent, and provide parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment and allied products. Alta has operated as an equipment dealership for 41 years and has developed a branch network that includes over 80 total locations across Michigan, Illinois, Indiana, Ohio, Pennsylvania, Massachusetts, Maine, Connecticut, New Hampshire, Vermont, Rhode Island, New York, Virginia, Nevada and Florida and the Canadian provinces of Ontario, Maritime, and Quebec. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio. More information can be found at www.altg.com.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alta’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Alta’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: supply chain disruptions, inflationary pressures resulting from supply chain disruptions; labor market dynamics that impact the price and availability of labor; economic, industry, business and political conditions including their effects on governmental policy and government actions that disrupt our supply chain or sales channels, including taxes and tariffs which impact us or our key suppliers; adverse banking and governmental regulations, resulting in a potential reduction to the fair value of our assets; the performance and financial viability of key suppliers, contractors, customers, and financing sources; our key OEM's relative approaches to competitive pricing dynamics in the marketplace and how their approaches impact the competitiveness of the equipment we sell and our market share; fluctuations in interest rate levels and the relative tenor of those levels; the demand and market price for our equipment and product support; negative impacts on customer payment policies; collective bargaining agreements and our relationship with our union-represented employees; our success in identifying acquisition targets and integrating acquisitions; our success in expanding into and doing business in additional markets; our ability to raise capital at favorable terms; the competitive environment for our products and services; our ability to continue to innovate and develop new business lines; our ability to attract and retain key personnel, including, but not limited to, skilled technicians; our ability to maintain our listing on the New York Stock Exchange; the impact of cyber or other security threats or other disruptions to our businesses; our ability to realize the anticipated benefits of acquisitions or divestitures, rental fleet and other organic investments, or internal reorganizations; federal, state, and local government budget uncertainty, especially as it relates to infrastructure projects and taxation; currency risks and other risks associated with international operations; and other risks and uncertainties identified in this presentation or indicated in the section entitled “Risk Factors” in Alta’s annual report on Form 10-K and other filings with the U.S. Securities and Exchange Commission. Alta cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Alta does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based.
*Use of Non-GAAP Financial Measures
To supplement our consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), we disclose non-GAAP financial measures, including Adjusted EBITDA, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted basic and diluted pre-tax net income (loss) per share, in this press release because we believe they are useful performance measures that assist in an effective evaluation of our operating performance when compared to our peers, without regard to financing methods or capital structure. We believe such measures are useful for investors and others in understanding and evaluating our operating results in the same manner as our management. However, such measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for, or in isolation from, net income (loss), revenues, operating profit, debt, or any other operating performance measures calculated in accordance with GAAP.
We define Adjusted EBITDA as net income (loss) before interest expense (not including floor plan interest paid on new equipment), income taxes, depreciation and amortization, adjustments for certain one-time, non-recurring or non-cash items, and items not necessarily indicative of our underlying operating performance. We exclude these items from net income (loss) in arriving at Adjusted EBITDA because these amounts are either non-cash, non-recurring or can vary substantially within the industry depending upon accounting methods and book values of assets, capital structures, and the method by which the assets were acquired. Management uses Adjusted total net debt and floor plan payables to reflect the Company's estimated financial obligations less cash and floor plan payables on new equipment ("FPNP"). The FPNP is used to finance the Company's new inventory, with its principal balance changing daily as equipment is purchased and sold and the sale proceeds are used to repay the notes. Consequently, in managing the business, management views the FPNP as interest bearing accounts payable, representing the cost of acquiring the equipment that is then repaid when the equipment is sold, as the Company's floor plan credit agreements require repayment when such pieces of equipment are sold. The Company believes excluding the FPNP from the Company's total debt for this purpose provides management with supplemental information regarding the Company's capital structure and leverage profile and assists investors in performing analysis that is consistent with financial models developed by Company management and research analysts. Adjusted total net debt and floor plan payables should be considered in addition to, and not as a substitute for, the Company's debt obligations, as reported in the Company's Consolidated Balance Sheets in accordance with GAAP. Adjusted pre-tax net income (loss) is defined as net income (loss) adjusted to reflect certain one-time, non-cash or non-recurring items, and other items not necessarily indicative of our underlying operating performance. Adjusted basic and diluted pre-tax net income (loss) per share is defined as adjusted pre-tax net income (loss) divided by the weighted average number of basic and diluted shares, respectively, outstanding during the period. Certain items excluded from Adjusted EBITDA, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted basic and diluted pre-tax net income (loss) per share are significant components in understanding and assessing a company’s financial performance. For example, items such as a company’s cost of capital and tax structure, certain one-time, non-cash or non-recurring items as well as the historic costs of depreciable assets, are not reflected in Adjusted EBITDA or Adjusted pre-tax net income (loss). Our presentation of Adjusted EBITDA, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted pre-tax basic and diluted net income (loss) per share should not be construed as an indication that results will be unaffected by the items excluded from these metrics. Our computation of Adjusted EBITDA, Adjusted total net debt and floor plan payables, Adjusted pre-tax net income (loss), and Adjusted basic and diluted pre-tax net income (loss) per share may not be identical to other similarly titled measures of other companies. For a reconciliation of non-GAAP measures to their most comparable measures under GAAP, please see the table entitled “Reconciliation of Non-GAAP Financial Measures” at the end of this press release.
Contacts
| Investors: | Media: |
| Kevin Inda | Glenn Moore |
| SCR Partners, LLC | Alta Equipment Group Inc. |
| kevin@scr-ir.com | glenn.moore@altg.com |
| (225) 772-0254 | (248) 305-2134 |
| CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except share and per share amounts) | ||||||||
| September 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Cash | $ | 14.1 | $ | 13.4 | ||||
| Accounts receivable, net of allowances of | 216.0 | 199.7 | ||||||
| Inventories, net | 504.6 | 535.9 | ||||||
| Prepaid expenses and other current assets | 37.2 | 25.5 | ||||||
| Total current assets | 771.9 | 774.5 | ||||||
| NON-CURRENT ASSETS | ||||||||
| Property and equipment, net | 79.5 | 81.6 | ||||||
| Rental fleet, net | 341.0 | 358.8 | ||||||
| Operating lease right-of-use assets, net | 110.4 | 113.0 | ||||||
| Goodwill | 77.3 | 77.5 | ||||||
| Other intangible assets, net | 47.6 | 54.7 | ||||||
| Other assets | 3.3 | 20.3 | ||||||
| TOTAL ASSETS | $ | 1,431.0 | $ | 1,480.4 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Floor plan payable – new equipment | $ | 270.8 | $ | 293.4 | ||||
| Floor plan payable – used and rental equipment | 69.4 | 81.1 | ||||||
| Current portion of long-term debt | 11.0 | 10.5 | ||||||
| Accounts payable | 93.2 | 91.5 | ||||||
| Customer deposits | 13.0 | 14.8 | ||||||
| Accrued expenses | 55.3 | 51.2 | ||||||
| Current operating lease liabilities | 14.8 | 15.1 | ||||||
| Current deferred revenue | 11.3 | 13.0 | ||||||
| Other current liabilities | 3.9 | 6.6 | ||||||
| Total current liabilities | 542.7 | 577.2 | ||||||
| NON-CURRENT LIABILITIES | ||||||||
| Line of credit, net | 231.7 | 179.8 | ||||||
| Long-term debt, net of current portion | 483.1 | 480.0 | ||||||
| Finance lease obligations, net of current portion | 30.8 | 35.5 | ||||||
| Deferred revenue, net of current portion | 5.1 | 4.3 | ||||||
| Long-term operating lease liabilities, net of current portion | 102.1 | 103.5 | ||||||
| Deferred tax liabilities | 22.2 | 10.8 | ||||||
| Other liabilities | 10.4 | 11.7 | ||||||
| TOTAL LIABILITIES | 1,428.1 | 1,402.8 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Preferred stock, | — | — | ||||||
| Common stock, | — | — | ||||||
| Additional paid-in capital | 247.6 | 243.5 | ||||||
| Treasury stock at cost, 2,733,306 and 1,587,702 shares of common stock held at September 30, 2025 and December 31, 2024, respectively | (18.2 | ) | (11.7 | ) | ||||
| Accumulated deficit | (223.9 | ) | (149.3 | ) | ||||
| Accumulated other comprehensive loss | (2.6 | ) | (4.9 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 2.9 | 77.6 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,431.0 | $ | 1,480.4 | ||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except share and per share amounts) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues: | |||||||||||||||
| New and used equipment sales | $ | 211.1 | $ | 219.8 | $ | 698.4 | $ | 699.9 | |||||||
| Parts sales | 75.3 | 75.6 | 222.9 | 226.5 | |||||||||||
| Service revenues | 66.4 | 64.6 | 197.4 | 194.8 | |||||||||||
| Rental revenues | 48.4 | 53.7 | 137.0 | 155.9 | |||||||||||
| Rental equipment sales | 21.4 | 35.1 | 71.1 | 101.4 | |||||||||||
| Total revenues | 422.6 | 448.8 | 1,326.8 | 1,378.5 | |||||||||||
| Cost of revenues: | |||||||||||||||
| New and used equipment sales | 179.5 | 184.4 | 596.1 | 588.7 | |||||||||||
| Parts sales | 47.6 | 50.0 | 145.9 | 149.2 | |||||||||||
| Service revenues | 27.2 | 26.3 | 79.7 | 80.2 | |||||||||||
| Rental revenues | 6.0 | 5.6 | 16.2 | 18.5 | |||||||||||
| Rental depreciation | 27.8 | 30.6 | 79.7 | 88.5 | |||||||||||
| Rental equipment sales | 16.7 | 27.3 | 54.1 | 76.2 | |||||||||||
| Total cost of revenues | 304.8 | 324.2 | 971.7 | 1,001.3 | |||||||||||
| Gross profit | 117.8 | 124.6 | 355.1 | 377.2 | |||||||||||
| Selling, general and administrative expenses | 105.9 | 110.6 | 314.9 | 339.7 | |||||||||||
| Non-rental depreciation and amortization | 7.1 | 7.2 | 22.2 | 21.3 | |||||||||||
| Total operating expenses | 113.0 | 117.8 | 337.1 | 361.0 | |||||||||||
| Income from operations | 4.8 | 6.8 | 18.0 | 16.2 | |||||||||||
| Other (expense) income: | |||||||||||||||
| Interest expense, floor plan payable – new equipment | (2.6 | ) | (3.2 | ) | (8.7 | ) | (8.7 | ) | |||||||
| Interest expense – other | (19.8 | ) | (19.4 | ) | (57.9 | ) | (49.2 | ) | |||||||
| Other (expense) income | — | (0.3 | ) | 1.7 | 1.6 | ||||||||||
| Loss on extinguishment of debt | — | — | — | (6.7 | ) | ||||||||||
| Gain on divestitures | 0.4 | — | 4.7 | — | |||||||||||
| Total other expense, net | (22.0 | ) | (22.9 | ) | (60.2 | ) | (63.0 | ) | |||||||
| Loss before taxes | (17.2 | ) | (16.1 | ) | (42.2 | ) | (46.8 | ) | |||||||
| Income tax provision | 24.4 | 11.6 | 26.4 | 4.7 | |||||||||||
| Net loss | (41.6 | ) | (27.7 | ) | (68.6 | ) | (51.5 | ) | |||||||
| Preferred stock dividends | (0.7 | ) | (0.7 | ) | (2.2 | ) | (2.2 | ) | |||||||
| Net loss available to common stockholders | $ | (42.3 | ) | $ | (28.4 | ) | $ | (70.8 | ) | $ | (53.7 | ) | |||
| Basic loss per share | $ | (1.31 | ) | $ | (0.86 | ) | $ | (2.16 | ) | $ | (1.62 | ) | |||
| Diluted loss per share | $ | (1.31 | ) | $ | (0.86 | ) | $ | (2.16 | ) | $ | (1.62 | ) | |||
| Basic weighted average common shares outstanding | 32,331,693 | 33,207,768 | 32,830,980 | 33,185,437 | |||||||||||
| Diluted weighted average common shares outstanding | 32,331,693 | 33,207,768 | 32,830,980 | 33,185,437 | |||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in millions) | |||||||
| Nine Months Ended September 30, | |||||||
| 2025 | 2024 | ||||||
| OPERATING ACTIVITIES | |||||||
| Net loss | $ | (68.6 | ) | $ | (51.5 | ) | |
| Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities | |||||||
| Depreciation and amortization | 101.9 | 109.8 | |||||
| Amortization of debt discount and debt issuance costs | 3.7 | 2.6 | |||||
| Gain on sale of property and rental equipment | (17.0 | ) | (25.2 | ) | |||
| Provision for inventory obsolescence | 1.9 | 1.4 | |||||
| Provision for losses on accounts receivable | 2.9 | 5.2 | |||||
| Gain on divestitures | (4.7 | ) | — | ||||
| Loss on debt extinguishment | — | 6.7 | |||||
| Stock-based compensation expense | 3.1 | 3.9 | |||||
| Changes in deferred income taxes | 28.0 | 5.2 | |||||
| Other operating activities | 0.1 | (1.9 | ) | ||||
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||||||
| Accounts receivable | (18.3 | ) | 26.5 | ||||
| Inventories | (60.7 | ) | (152.2 | ) | |||
| Proceeds from sale of rental equipment - rent-to-sell | 64.3 | 92.5 | |||||
| Prepaid expenses and other assets | (14.1 | ) | 3.2 | ||||
| Manufacturers floor plans payable | (28.3 | ) | 8.4 | ||||
| Accounts payable, accrued expenses, leases, and other operating liabilities | 4.9 | (12.5 | ) | ||||
| Net cash (used in) provided by operating activities | (0.9 | ) | 22.1 | ||||
| INVESTING ACTIVITIES | |||||||
| Expenditures for rental equipment | (35.2 | ) | (45.6 | ) | |||
| Expenditures for property and equipment | (8.1 | ) | (11.4 | ) | |||
| Proceeds from sale of property and equipment | 0.4 | 2.3 | |||||
| Proceeds from sale of rental equipment - rent-to-rent | 6.8 | 8.9 | |||||
| Acquisition of businesses, net of cash acquired | (2.9 | ) | — | ||||
| Proceeds from divestitures, net | 21.1 | — | |||||
| Other investing activities | (1.4 | ) | (2.2 | ) | |||
| Net cash used in investing activities | (19.3 | ) | (48.0 | ) | |||
| FINANCING ACTIVITIES | |||||||
| Expenditures for debt issuance costs | — | (1.9 | ) | ||||
| Extinguishment of long-term debt | — | (319.4 | ) | ||||
| Proceeds from long-term borrowings | 286.8 | 899.6 | |||||
| Principal payments on long-term debt and finance lease obligations | (244.2 | ) | (546.1 | ) | |||
| Proceeds from non-manufacturer floor plan payable | 73.1 | 101.3 | |||||
| Payments on non-manufacturer floor plan payable | (81.3 | ) | (110.6 | ) | |||
| Preferred stock dividends paid | (2.2 | ) | (2.2 | ) | |||
| Common stock dividends declared and paid | (3.9 | ) | (5.9 | ) | |||
| Repurchases of common stock | (6.5 | ) | (2.0 | ) | |||
| Other financing activities | (1.1 | ) | (3.1 | ) | |||
| Net cash provided by financing activities | 20.7 | 9.7 | |||||
| Effect of exchange rate changes on cash | 0.2 | (0.2 | ) | ||||
| NET CHANGE IN CASH | 0.7 | (16.4 | ) | ||||
| Cash, Beginning of year | 13.4 | 31.0 | |||||
| Cash, End of period | $ | 14.1 | $ | 14.6 | |||
| Supplemental schedule of noncash investing and financing activities: | |||||||
| Noncash asset purchases: | |||||||
| Net transfer of assets from inventory to rental fleet | $ | 81.8 | $ | 105.6 | |||
| Contingent and non-contingent consideration for business acquisitions | — | 0.2 | |||||
| Supplemental disclosures of cash flow information | |||||||
| Cash paid for interest | $ | 51.9 | $ | 43.8 | |||
| Cash paid for income taxes | $ | 4.5 | $ | 1.5 | |||
| RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (Unaudited) (in millions, except share and per share amounts) | |||||||
| September 30, | December 31, | ||||||
| Debt and Floor Plan Payables Analysis | 2025 | 2024 | |||||
| Senior secured second lien notes | $ | 500.0 | $ | 500.0 | |||
| Line of credit | 234.2 | 182.9 | |||||
| Floor plan payable – new equipment | 270.8 | 293.4 | |||||
| Floor plan payable – used and rental equipment | 69.4 | 81.1 | |||||
| Finance lease obligations | 41.8 | 46.0 | |||||
| Total debt | $ | 1,116.2 | $ | 1,103.4 | |||
| Adjustments: | |||||||
| Floor plan payable – new equipment | (270.8 | ) | (293.4 | ) | |||
| Cash | (14.1 | ) | (13.4 | ) | |||
| Adjusted total net debt and floor plan payables(1) | $ | 831.3 | $ | 796.6 | |||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss available to common stockholders | $ | (42.3 | ) | $ | (28.4 | ) | $ | (70.8 | ) | $ | (53.7 | ) | |||
| Depreciation and amortization | 34.9 | 37.8 | 101.9 | 109.8 | |||||||||||
| Interest expense | 22.4 | 22.6 | 66.6 | 57.9 | |||||||||||
| Income tax provision | 24.4 | 11.6 | 26.4 | 4.7 | |||||||||||
| EBITDA(1) | $ | 39.4 | $ | 43.6 | $ | 124.1 | $ | 118.7 | |||||||
| Transaction and consulting costs(2) | 2.2 | — | 2.6 | 0.3 | |||||||||||
| Loss on debt extinguishment(3) | — | — | — | 6.7 | |||||||||||
| Gain on divestitures(4) | (0.4 | ) | — | (4.7 | ) | — | |||||||||
| Share-based incentives(5) | 1.1 | 1.3 | 3.1 | 3.9 | |||||||||||
| Other expenses(6) | 1.3 | 0.8 | 5.2 | 4.5 | |||||||||||
| Preferred stock dividend(7) | 0.7 | 0.7 | 2.2 | 2.2 | |||||||||||
| Showroom-ready equipment interest expense(8) | (2.6 | ) | (3.2 | ) | (8.7 | ) | (8.7 | ) | |||||||
| Adjusted EBITDA(1) | $ | 41.7 | $ | 43.2 | $ | 123.8 | $ | 127.6 | |||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss available to common stockholders | $ | (42.3 | ) | $ | (28.4 | ) | $ | (70.8 | ) | $ | (53.7 | ) | |||
| Transaction and consulting costs(2) | 2.2 | — | 2.6 | 0.3 | |||||||||||
| Loss on debt extinguishment(3) | — | — | — | 6.7 | |||||||||||
| Gain on divestitures(4) | (0.4 | ) | — | (4.7 | ) | — | |||||||||
| Share-based incentives(5) | 1.1 | 1.3 | 3.1 | 3.9 | |||||||||||
| Other expenses(6) | 1.3 | 0.8 | 5.2 | 4.5 | |||||||||||
| Intangible amortization(9) | 2.5 | 2.5 | 7.5 | 7.7 | |||||||||||
| Income tax provision(10) | 24.4 | 11.6 | 26.4 | 4.7 | |||||||||||
| Adjusted pre-tax net loss available to common stockholders(1) | $ | (11.2 | ) | $ | (12.2 | ) | $ | (30.7 | ) | $ | (25.9 | ) | |||
| Basic net loss per share | $ | (1.31 | ) | $ | (0.86 | ) | $ | (2.16 | ) | $ | (1.62 | ) | |||
| Diluted net loss per share | $ | (1.31 | ) | $ | (0.86 | ) | $ | (2.16 | ) | $ | (1.62 | ) | |||
| Adjusted basic pre-tax net loss per share(1) | $ | (0.35 | ) | $ | (0.37 | ) | $ | (0.94 | ) | $ | (0.78 | ) | |||
| Adjusted diluted pre-tax net loss per share(1) | $ | (0.35 | ) | $ | (0.37 | ) | $ | (0.94 | ) | $ | (0.78 | ) | |||
| Basic weighted average common shares outstanding | 32,331,693 | 33,207,768 | 32,830,980 | 33,185,437 | |||||||||||
| Diluted weighted average common shares outstanding | 32,331,693 | 33,207,768 | 32,830,980 | 33,185,437 | |||||||||||
(1) Non-GAAP measure
(2) Non-recurring expenses related to corporate development and acquisition activities, including capital raise and debt refinancing activities, and associated legal and consulting costs
(3) One-time expense associated with the extinguishment of debt
(4) One-time income associated with the divestiture of certain aerial fleet rental assets and our Dock and Door business
(5) Non-cash equity-based compensation expense
(6) Other non-recurring expenses inclusive of severance payments, greenfield startup, cost redundancies, extraordinary demurrage fees, and non-cash adjustments to earnout contingencies
(7) Expenses related to preferred stock dividend payments
(8) Interest expense associated with showroom-ready new equipment interest included in total interest expense above
(9) Incremental expense associated with the amortization of other intangible assets relating to acquisition accounting
(10) Expense related to the income tax provision, including valuation allowance
FAQ
What were Alta Equipment Group (ALTG) third quarter 2025 total revenues and year‑over‑year change?
How much was Alta's net loss and EPS for Q3 2025 (ALTG)?
What was Alta's Adjusted EBITDA for Q3 2025 and the updated full‑year 2025 guidance (ALTG)?
Why did Alta record a $24.4 million income tax expense in Q3 2025 (ALTG)?
Did Alta complete any divestitures in Q3 2025 and how much was received (ALTG)?
How did Alta's product support business perform in Q3 2025 (ALTG)?
