Alta Equipment Group Announces Third Quarter 2026 Financial Results

Lower operating and interest expenses accompanied improved quarterly earnings, while year-to-date adjusted EBITDA remained below 2025.

Rhea-AI Summary

Alta Equipment Group (NYSE: ALTG) reported third-quarter 2026 revenue of $417.4 million, down year over year as equipment sales weakened.

Revenue fell 1.2%, while the net loss available to common stockholders narrowed to $12.2 million from $42.3 million. Basic and diluted loss per share was $0.37. Adjusted EBITDA, a non-GAAP earnings measure, rose 7.7% to $44.9 million. Operating expenses declined $2.9 million, and interest expense fell $2.5 million to $19.9 million.

Material Handling bookings increased 67%, but backlog converted to revenue more slowly than expected. Construction Equipment revenue increased $12.2 million to $253.8 million. Alta now expects full-year adjusted EBITDA of $165.0 million to $170.0 million. Year-to-date operating cash flow was $58.8 million; stockholders’ deficit widened to $47.1 million from $8.8 million at year-end.

19 points · 0 major

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0 major · 12 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointThird-quarter adjusted EBITDA rose 7.7% to $44.9 million year over year.
• Moderate pointThird-quarter common-stockholder loss narrowed to $12.2 million from $42.3 million a year earlier.
• Moderate pointThird-quarter operating income rose 50.0% to $7.2 million year over year.
• Moderate pointMaterial Handling equipment bookings increased 67% year over year, with backlog continuing to grow.
• Moderate pointThird-quarter service gross margin increased 250 basis points to 61.5% year over year.
• Moderate pointYear-to-date operating activities provided $58.8 million in cash.
• Moderate pointAdjusted total net debt and floor plan payables declined approximately $20 million during the quarter.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Alta expects full-year 2026 adjusted EBITDA of $165.0 million to $170.0 million.

11 minor points

• Minor pointConstruction Equipment quarterly revenue increased $12.2 million to $253.8 million year over year.
• Minor pointConstruction Equipment quarterly adjusted EBITDA grew 11.2% year over year with approximately $78 million fewer period-end assets.
• Minor pointNew and used equipment sales gross margin increased 60 basis points year over year.
• Minor pointThird-quarter operating expenses decreased $2.9 million to $110.1 million year over year.
• Minor pointThird-quarter interest expense decreased $2.5 million to $19.9 million year over year.
• Minor pointThird-quarter rental equipment sales rose 16.4% to $24.9 million; nine-month sales increased 18.4% to $84.2 million.
• Minor pointThird-quarter parts sales rose 1.3% to $76.3 million; nine-month sales increased 0.1% to $223.1 million.
• Minor pointCombined inventory and net rental fleet carrying value declined approximately $45 million since year-end.
• Minor pointAdjusted quarterly pre-tax loss per share improved $0.16 to $0.19 year over year.
• Minor pointNine-month common-stockholder loss narrowed to $40.7 million from $70.8 million a year earlier.
• Minor pointCash increased to $21.8 million at September 30, 2026, from $18.6 million at year-end.

Negative

• Moderate pointThird-quarter revenue declined 1.2% to $417.4 million; nine-month revenue fell 1.8% to $1,303.4 million.
• Moderate pointThird-quarter gross profit declined 0.4% to $117.3 million; nine-month gross profit fell 1.2% to $350.8 million.
• Moderate pointMaterial Handling backlog converted to revenue more slowly than Alta expected.
• Moderate pointStockholders’ deficit widened to $47.1 million at September 30, 2026, from $8.8 million at year-end.
• Minor pointOrganic third-quarter revenue decreased $2.8 million, or 0.7%, year over year.

7 minor points

• Minor pointNew and used equipment sales fell 3.4% to $204.0 million; nine-month sales declined 3.6% to $673.0 million.
• Minor pointThird-quarter service revenue fell 2.6% to $64.7 million; nine-month revenue declined 2.7% to $192.1 million.
• Minor pointThird-quarter rental revenue fell 1.9% to $47.5 million; nine-month revenue declined 4.4% to $131.0 million.
• Minor pointNine-month adjusted EBITDA decreased 1.8% to $121.6 million year over year.
• Minor pointNine-month operating income declined 25.0% to $13.5 million year over year.
• Minor pointNine-month operating expenses increased 0.1% to $337.3 million year over year.
• Minor pointUsed and rental equipment floor plan payables increased to $87.8 million from $72.3 million at year-end.

News Explained

Alta reported 32,668,114 common shares issued and outstanding at September 30, 2026, up from 32,153,525 at December 31, 2025; a higher share count reduces existing holders’ percentage ownership, absent offsetting changes.

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Key Figures

Total revenue: $417.4 million Adjusted EBITDA: $44.9 million FY2026 Adjusted EBITDA guidance: $165.0–$170.0 million +5 more

Total revenue

$417.4 million

Q3 2026; decreased $5.2 million year over year

Adjusted EBITDA

$44.9 million

Q3 2026; increased $3.2 million (7.7%) year over year

FY2026 Adjusted EBITDA guidance

$165.0–$170.0 million

Revised full-year guidance

Material Handling bookings

Increased 67%

Year over year

Net loss available to common stockholders

$(12.2) million

Q3 2026

Basic and diluted loss per share

$(0.37)

Q3 2026

Net cash provided by operating activities

$58.8 million

Year to date

Service gross profit percentage

61.5%

Q3 2026; increased 250 basis points year over year

Previous Earnings Reports

1 past event · Latest: Aug 06

Same Type 1 event

1. Aug 06

   Q2 earnings

   24h Move

   +1.8%

   Set the prior 2026 Adjusted EBITDA guidance range at $167.5–$177.5 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

basis points, non-gaap

2 terms

basis points financial

"gross profit margin increased 60 basis points year over year"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

non-gaap financial

"Adjusted EBITDA is a non-GAAP measure."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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Third Quarter Financial Highlights:

• Total revenues decreased $5.2 million year over year to $417.4 million. On an organic basis*, revenues decreased $2.8 million year over year, or 0.7%
• Material Handling equipment bookings increased 67% year over year, with backlog continuing to grow
• Construction Equipment segment revenue increased $12.2 million year over year to $253.8 million
• New and used equipment sales gross profit margin increased 60 basis points year over year
• Service gross profit percentage increased 250 basis points year over year to 61.5%
• Operating expenses decreased by $2.9 million year over year to $110.1 million
• Interest expense decreased $2.5 million year over year to $19.9 million in the quarter
• Rental fleet gross book value decreased $57.9 million year over year to $508.9 million
• Net cash provided by operating activities of $58.8 million year to date
• Net loss available to common stockholders of $(12.2) million
• Basic and diluted net loss per share of $(0.37)
• Adjusted basic and diluted pre-tax net loss per share* of $(0.19), an improvement of $0.16 per share versus prior year
• Adjusted EBITDA* increased $3.2 million year over year to $44.9 million
  
  

LIVONIA, Mich., Nov. 09, 2026 (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, 2026.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “Our third quarter results reflect the progress we are making to generate stronger earnings and returns from a more efficient capital base. Adjusted EBITDA increased approximately 8% year over year to $44.9 million despite a meaningfully smaller investment in rental fleet and inventory. Since year-end, we have reduced the combined carrying value of inventory and net rental fleet by approximately $45 million. Additionally, we lowered adjusted total net debt and floor plan payables by approximately $20 million in the quarter and reduced third quarter operating expenses by $2.9 million year over year. These actions are translating into improved profitability, lower interest expense, stronger cash generation and better returns on invested capital, and they remain central to how we will manage the business going forward.”

Mr. Greenawalt continued, “Within Material Handling, the improvement in demand that we began to see earlier this year continued during the third quarter, with bookings increasing 67% year over year and backlog continuing to grow. We believe this strength reflects improving industry conditions and customers beginning to address pent-up replacement needs following an extended period of fleet replacement deferrals. While the pace at which new equipment backlog is converting to revenues has been slower than we expected, we view this primarily as a timing issue rather than a change in underlying customer demand. As throughput improves, we expect the significant increase in bookings and backlog to translate into higher equipment deliveries and revenues. We believe this provides improved visibility and a meaningful base of future revenues as we move through the fourth quarter and into 2027. Our Construction Equipment segment’s performance this year is a particularly good example of our focus on capital efficiency. During the quarter, the segment generated 5.0% year-over-year revenue growth and 11.2% Adjusted EBITDA growth while operating with approximately $78 million less in period-end assets than a year ago. This is an important proof point for the work we have done to improve fleet utilization, optimize inventory, and focus the organization on returns on capital deployed.”

In conclusion, Mr. Greenawalt said, “Looking ahead, infrastructure spending and state DOT budgets remain supportive across our markets while the strength in Material Handling bookings and backlog provides an additional source of momentum entering 2027. Combined with the progress we have made on our cost structure, working capital, and balance sheet, we believe these trends will allow Alta to enter next year from a position of strength.”

Full Year 2026 Financial Guidance and Other Financial Notes:

• The Company revised its guidance range and now expects to report Adjusted EBITDA* between $165.0 million and $170.0 million for the 2026 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)
	2026				2025				2026 versus 2025								2026				2025				2026 versus 2025
Revenues:
New and used equipment sales	$	204.0			$	211.1			$	(7.1	)			(3.4	)%		$	673.0			$	698.4			$	(25.4	)			(3.6	)%
Parts sales		76.3				75.3				1.0				1.3	%			223.1				222.9				0.2				0.1	%
Service revenues		64.7				66.4				(1.7	)			(2.6	)%			192.1				197.4				(5.3	)			(2.7	)%
Rental revenues		47.5				48.4				(0.9	)			(1.9	)%			131.0				137.0				(6.0	)			(4.4	)%
Rental equipment sales		24.9				21.4				3.5				16.4	%			84.2				71.1				13.1				18.4	%
Total revenues		417.4				422.6				(5.2	)			(1.2	)%			1,303.4				1,326.8				(23.4	)			(1.8	)%
Cost of revenues:
New and used equipment sales		172.2				179.5				(7.3	)			(4.1	)%			569.8				596.1				(26.3	)			(4.4	)%
Parts sales		51.0				47.6				3.4				7.1	%			149.2				145.9				3.3				2.3	%
Service revenues		24.9				27.2				(2.3	)			(8.5	)%			74.8				79.7				(4.9	)			(6.1	)%
Rental revenues		4.0				6.0				(2.0	)			(33.3	)%			12.0				16.2				(4.2	)			(25.9	)%
Rental depreciation		28.2				27.8				0.4				1.4	%			78.9				79.7				(0.8	)			(1.0	)%
Rental equipment sales		19.8				16.7				3.1				18.6	%			67.9				54.1				13.8				25.5	%
Total cost of revenues		300.1				304.8				(4.7	)			(1.5	)%			952.6				971.7				(19.1	)			(2.0	)%
Gross profit		117.3				117.8				(0.5	)			(0.4	)%			350.8				355.1				(4.3	)			(1.2	)%
Selling, general and administrative expenses		103.4				105.9				(2.5	)			(2.4	)%			317.2				314.9				2.3				0.7	%
Non-rental depreciation and amortization		6.7				7.1				(0.4	)			(5.6	)%			20.1				22.2				(2.1	)			(9.5	)%
Total operating expenses		110.1				113.0				(2.9	)			(2.6	)%			337.3				337.1				0.2				0.1	%
Income from operations		7.2				4.8				2.4				50.0	%			13.5				18.0				(4.5	)			(25.0	)%
Other (expense) income:
Interest expense, floor plan payable – new equipment		(1.6	)			(2.6	)			1.0				(38.5	)%			(5.2	)			(8.7	)			3.5				(40.2	)%
Interest expense – other		(18.3	)			(19.8	)			1.5				(7.6	)%			(53.7	)			(57.9	)			4.2				(7.3	)%
Other income		1.9				—				1.9			NA					3.9				1.7				2.2				129.4	%
Gain (loss) on divestitures		—				0.4				(0.4	)		NM					(0.5	)			4.7				(5.2	)		NM
Total other expense, net		(18.0	)			(22.0	)			4.0				(18.2	)%			(55.5	)			(60.2	)			4.7				(7.8	)%
Loss before taxes		(10.8	)			(17.2	)			6.4			NM					(42.0	)			(42.2	)			0.2			NM
Income tax expense (benefit)		0.7				24.4				(23.7	)		NM					(3.5	)			26.4				(29.9	)		NM
Net loss		(11.5	)			(41.6	)			30.1			NM					(38.5	)			(68.6	)			30.1			NM
Preferred stock dividends		(0.7	)			(0.7	)			—				—				(2.2	)			(2.2	)			—				—
Net loss available to common stockholders	$	(12.2	)		$	(42.3	)		$	30.1			NM				$	(40.7	)		$	(70.8	)			30.1			NM
Adjusted EBITDA(1)	$	44.9			$	41.7			$	3.2				7.7	%		$	121.6			$	123.8			$	(2.2	)			(1.8	)%
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 tomorrow at 8:00 a.m. Eastern Time to discuss and answer questions about the Company’s financial results for the quarter ended September 30, 2026. 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 2026 Earnings Call and Webcast
Date:	Tuesday, November 10, 2026
Time:	8:00 a.m. Eastern Time
Live call:	(833) 461-5787
International:	International Dial-In Numbers
Meeting ID:	500034146
Webcast:	https://events.q4inc.com/attendee/500034146

The webcast replay will be archived through November 10, 2027.

About Alta Equipment Group Inc.

Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through its branch network, the Company sells, rents, and provides 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, concrete and asphalt paving equipment, other construction equipment, and allied products. Alta has operated as an equipment dealership for 42 years and has 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, New Brunswick, 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,” “momentum,” “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. Some factors that may cause such differences include, but are not limited to: supply chain disruptions and 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, our key suppliers or customers; 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; the impact of artificial intelligence, cyber or other security threats, or other disruptions to our businesses; fluctuations in interest rate levels and the relative tenor of those levels; increases in our debt obligations and related debt service requirements, and their impact on our liquidity, financial flexibility and ability to fund our operations and growth initiatives; an increase in the cost of diesel and unleaded gasoline where we are unable to hedge or pass through the increase to customers; the demand and market price for our equipment and product support; negative impacts related to customer payments; collective bargaining agreements and our relationship with our union-represented employees; a material increase in the volume of high-cost healthcare claims below our stop-loss insurance limit; 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; 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; changes in global economic and financial markets; 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 for the fiscal year ended December 31, 2025 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, Organic revenues, 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, adjusted 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. We define organic revenue growth as revenue growth excluding the impact of acquisitions or divestitures that do not appear fully in both periods in the current and prior years. We believe organic revenue growth is a meaningful metric to investors as it provides a more consistent comparison of our revenues across reported periods as well as to industry peers. 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, organic revenues, 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, Organic revenues, 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, Organic revenues, 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.

Contact

Investors:
Kevin Inda
SCR Partners, LLC
kevin@scr-ir.com
(225) 772-0254

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in millions, except share and per share amounts)
	September 30, 2026				December 31, 2025
ASSETS
Cash	$	21.8			$	18.6
Accounts receivable, net of allowances of $10.5 and $11.3 as of September 30, 2026 and December 31, 2025, respectively		195.8				186.7
Inventories, net		448.3				473.3
Prepaid expenses and other current assets		39.0				31.6
Total current assets		704.9				710.2
NON-CURRENT ASSETS
Property and equipment, net		63.2				73.3
Rental fleet, net		293.8				313.7
Operating lease right-of-use assets, net		108.8				108.3
Goodwill		77.2				77.8
Other intangible assets, net		43.6				48.0
Other assets		7.8				5.0
TOTAL ASSETS	$	1,299.3			$	1,336.3
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Floor plan payable – new equipment	$	237.9			$	241.0
Floor plan payable – used and rental equipment		87.8				72.3
Current portion of long-term debt		10.6				11.0
Accounts payable		88.0				77.7
Customer deposits		13.5				15.0
Accrued expenses		52.7				45.3
Current operating lease liabilities		14.2				15.0
Current deferred revenue		14.9				13.7
Other current liabilities		3.1				4.0
Total current liabilities		522.7				495.0
NON-CURRENT LIABILITIES
Line of credit, net		191.1				211.3
Long-term debt, net of current portion		487.6				484.5
Finance lease obligations, net of current portion		21.4				28.2
Deferred revenue, net of current portion		5.0				5.0
Long-term operating lease liabilities, net of current portion		101.8				100.1
Deferred tax liabilities		12.1				14.6
Other liabilities		4.7				6.4
TOTAL LIABILITIES		1,346.4				1,345.1
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, $0.0001 par value per share, 1,000,000 shares authorized, 1,200 shares issued and outstanding at both September 30, 2026 and December 31, 2025 (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; 32,668,114 and 32,153,525 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		—				—
Additional paid-in capital		252.1				248.4
Treasury stock at cost, 2,904,614 shares of common stock held at both September 30, 2026 and December 31, 2025		(19.2	)			(19.2	)
Accumulated deficit		(277.0	)			(236.4	)
Accumulated other comprehensive loss		(3.0	)			(1.6	)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		(47.1	)			(8.8	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,299.3			$	1,336.3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except share and per share amounts)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
Revenues:
New and used equipment sales	$	204.0			$	211.1			$	673.0			$	698.4
Parts sales		76.3				75.3				223.1				222.9
Service revenues		64.7				66.4				192.1				197.4
Rental revenues		47.5				48.4				131.0				137.0
Rental equipment sales		24.9				21.4				84.2				71.1
Total revenues		417.4				422.6				1,303.4				1,326.8
Cost of revenues:
New and used equipment sales		172.2				179.5				569.8				596.1
Parts sales		51.0				47.6				149.2				145.9
Service revenues		24.9				27.2				74.8				79.7
Rental revenues		4.0				6.0				12.0				16.2
Rental depreciation		28.2				27.8				78.9				79.7
Rental equipment sales		19.8				16.7				67.9				54.1
Total cost of revenues		300.1				304.8				952.6				971.7
Gross profit		117.3				117.8				350.8				355.1
Selling, general and administrative expenses		103.4				105.9				317.2				314.9
Non-rental depreciation and amortization		6.7				7.1				20.1				22.2
Total operating expenses		110.1				113.0				337.3				337.1
Income from operations		7.2				4.8				13.5				18.0
Other (expense) income:
Interest expense, floor plan payable – new equipment		(1.6	)			(2.6	)			(5.2	)			(8.7	)
Interest expense – other		(18.3	)			(19.8	)			(53.7	)			(57.9	)
Other income		1.9				—				3.9				1.7
Gain (loss) on divestitures		—				0.4				(0.5	)			4.7
Total other expense, net		(18.0	)			(22.0	)			(55.5	)			(60.2	)
Loss before taxes		(10.8	)			(17.2	)			(42.0	)			(42.2	)
Income tax expense (benefit)		0.7				24.4				(3.5	)			26.4
Net loss		(11.5	)			(41.6	)			(38.5	)			(68.6	)
Preferred stock dividends		(0.7	)			(0.7	)			(2.2	)			(2.2	)
Net loss available to common stockholders	$	(12.2	)		$	(42.3	)		$	(40.7	)		$	(70.8	)
Basic loss per share	$	(0.37	)		$	(1.31	)		$	(1.24	)		$	(2.16	)
Diluted loss per share	$	(0.37	)		$	(1.31	)		$	(1.24	)		$	(2.16	)
Basic weighted average common shares outstanding		32,926,765				32,331,693				32,777,661				32,830,980
Diluted weighted average common shares outstanding		32,926,765				32,331,693				32,777,661				32,830,980

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in millions)
	Nine Months Ended September 30,
	2026				2025
OPERATING ACTIVITIES
Net loss	$	(38.5	)		$	(68.6	)
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities
Depreciation and amortization		99.0				101.9
Amortization of debt discount and debt issuance costs		3.6				3.7
Gain on sale of property and rental equipment		(15.9	)			(17.0	)
Provision for inventory reserves		0.1				1.9
Provision for losses on accounts receivable		2.1				2.9
Loss (gain) on divestitures		0.5				(4.7	)
Stock-based compensation expense		2.9				3.1
Changes in deferred income taxes		(2.4	)			28.0
Other operating activities		(2.0	)			0.1
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable		(13.4	)			(18.3	)
Inventories		(91.8	)			(60.7	)
Proceeds from sale of rental equipment - rent-to-sell		72.1				64.3
Prepaid expenses and other assets		(7.9	)			(14.1	)
Manufacturers floor plans payable		30.8				(28.3	)
Accounts payable, accrued expenses, leases, and other operating liabilities		19.6				4.9
Net cash provided by (used in) operating activities		58.8				(0.9	)
INVESTING ACTIVITIES
Expenditures for rental equipment		(13.3	)			(35.2	)
Expenditures for property and equipment and intangibles		(7.5	)			(8.1	)
Proceeds from sale of property and equipment		1.9				0.4
Proceeds from sale of rental equipment - rent-to-rent		12.1				6.8
Acquisition of business, net of cash acquired		—				(2.9	)
Proceeds from divestitures, net		2.3				21.1
Other investing activities		(1.5	)			(1.4	)
Net cash used in investing activities		(6.0	)			(19.3	)
FINANCING ACTIVITIES
Proceeds from long-term borrowings		158.4				286.8
Principal payments on long-term debt and finance lease obligations		(186.6	)			(244.2	)
Proceeds from non-manufacturer floor plan payable		62.5				73.1
Payments on non-manufacturer floor plan payable		(80.2	)			(81.3	)
Preferred stock dividends paid		(2.2	)			(2.2	)
Common stock dividends declared and paid		—				(3.9	)
Repurchases of common stock		—				(6.5	)
Other financing activities		(1.4	)			(1.1	)
Net cash (used in) provided by financing activities		(49.5	)			20.7
Effect of exchange rate changes on cash		(0.1	)			0.2
NET CHANGE IN CASH		3.2				0.7
Cash, Beginning of year		18.6				13.4
Cash, End of period	$	21.8			$	14.1
Supplemental schedule of noncash investing and financing activities:
Noncash asset purchases:
Net transfer of assets from inventory to rental fleet	$	97.9			$	81.8
Supplemental disclosures of cash flow information
Cash paid for interest	$	44.1			$	51.9

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	2026				2025
Senior secured second lien notes	$	500.0			$	500.0
Line of credit		192.9				213.6
Floor plan payable – new equipment		237.9				241.0
Floor plan payable – used and rental equipment		87.8				72.3
Finance lease obligations		32.0				39.2
Total debt	$	1,050.6			$	1,066.1
Adjustments:
Floor plan payable – new equipment		(237.9	)			(241.0	)
Cash		(21.8	)			(18.6	)
Adjusted total net debt and floor plan payables(1)	$	790.9			$	806.5

	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
Net loss available to common stockholders	$	(12.2	)		$	(42.3	)		$	(40.7	)		$	(70.8	)
Depreciation and amortization		34.9				34.9				99.0				101.9
Interest expense		19.9				22.4				58.9				66.6
Income tax expense (benefit)		0.7				24.4				(3.5	)			26.4
EBITDA(1)	$	43.3			$	39.4			$	113.7			$	124.1
Transaction and consulting costs(2)		—				2.2				(0.1	)			2.6
(Gain) loss on divestitures(3)		—				(0.4	)			0.5				(4.7	)
Share-based incentives(4)		0.9				1.1				2.9				3.1
Other expenses(5)		1.6				1.3				7.6				5.2
Preferred stock dividend(6)		0.7				0.7				2.2				2.2
Showroom-ready equipment interest expense(7)		(1.6	)			(2.6	)			(5.2	)			(8.7	)
Adjusted EBITDA(1)	$	44.9			$	41.7			$	121.6			$	123.8

	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
Net loss available to common stockholders	$	(12.2	)		$	(42.3	)		$	(40.7	)		$	(70.8	)
Transaction and consulting costs(2)		—				2.2				(0.1	)			2.6
(Gain) loss on divestitures(3)		—				(0.4	)			0.5				(4.7	)
Share-based incentives(4)		0.9				1.1				2.9				3.1
Other expenses(5)		1.6				1.3				7.6				5.2
Intangible amortization(8)		2.8				2.5				7.9				7.5
Income tax expense (benefit)(9)		0.7				24.4				(3.5	)			26.4
Adjusted pre-tax net loss available to common stockholders(1)	$	(6.2	)		$	(11.2	)		$	(25.4	)		$	(30.7	)
Basic net loss per share	$	(0.37	)		$	(1.31	)		$	(1.24	)		$	(2.16	)
Diluted net loss per share	$	(0.37	)		$	(1.31	)		$	(1.24	)		$	(2.16	)
Adjusted basic pre-tax net loss per share(1)	$	(0.19	)		$	(0.35	)		$	(0.77	)		$	(0.94	)
Adjusted diluted pre-tax net loss per share(1)	$	(0.19	)		$	(0.35	)		$	(0.77	)		$	(0.94	)
Basic weighted average common shares outstanding		32,926,765				32,331,693				32,777,661				32,830,980
Diluted weighted average common shares outstanding		32,926,765				32,331,693				32,777,661				32,830,980

(1) Non-GAAP measure
(2) Non-recurring expenses related to corporate development, acquisition and divestiture activities, and associated legal and consulting costs
(3) One-time loss (gain) associated with the divestiture of one location of our battery shop business in New England, our Dock and Door business, and our aerial fleet rental business in Illinois
(4) Non-cash equity-based compensation expense
(5) Other non-recurring expenses inclusive of severance payments, cost redundancies, extraordinary demurrage fees, and suspended operations
(6) Expenses related to preferred stock dividend payments
(7) Interest expense associated with showroom-ready new equipment interest included in total interest expense above
(8) Incremental expense associated with the amortization of other intangible assets relating to acquisition accounting
(9) Expense (benefit) expense related to the income tax provision, including valuation allowance

Consolidated Organic Revenues

	Organic Revenues																Organic Revenues
	Three months ended September 30,								Increase (Decrease)								Nine Months Ended September 30,								Increase (Decrease)
	2026				2025				2026 versus 2025								2026				2025				2026 versus 2025
Total revenues	$	417.4			$	422.6			$	(5.2	)			(1.2	)%		$	1,303.4			$	1,326.8			$	(23.4	)			(1.8	)%
Acquisition and divestitures revenues		—				2.4												0.9				11.8
Organic revenues:
New and used equipment sales		204.0				209.0				(5.0	)			(2.4	)%			672.6				689.2				(16.6	)			(2.4	)%
Parts sales		76.3				75.2				1.1				1.5	%			223.0				222.6				0.4				0.2	%
Service revenues		64.7				66.2				(1.5	)			(2.3	)%			191.9				197.0				(5.1	)			(2.6	)%
Rental revenues		47.5				48.4				(0.9	)			(1.9	)%			130.8				135.1				(4.3	)			(3.2	)%
Rental equipment sales		24.9				21.4				3.5				16.4	%			84.2				71.1				13.1				18.4	%
Total organic revenues	$	417.4			$	420.2			$	(2.8	)			(0.7	)%		$	1,302.5			$	1,315.0			$	(12.5	)			(1.0	)%

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Alta Equipment Group’s third-quarter 2026 earnings results?

Alta reported revenue of $417.4 million and a net loss available to common stockholders of $12.2 million for the quarter ended September 30, 2026. Basic and diluted loss per share was $0.37. Adjusted EBITDA increased 7.7% year over year to $44.9 million.

What is Alta Equipment Group’s full-year 2026 adjusted EBITDA guidance?

Alta now expects full-year 2026 adjusted EBITDA of $165.0 million to $170.0 million. Adjusted EBITDA is a non-GAAP financial measure.

Why does Alta expect Material Handling bookings to support future revenue?

Alta expects increased bookings and backlog to produce higher equipment deliveries and revenue as throughput improves. The company views slower backlog conversion primarily as a timing issue rather than a change in underlying customer demand.