ALTG NYSE· Alta Equipment Group Inc.
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ALTG NYSE· Alta Equipment Group Inc.
Earnings report Q3 2023

ALTG Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

ALTG reported total revenues of $466.2 million for the three months ended September 30, 2023, representing a 15.1% increase compared to the same period last year. The breakdown of revenue segments is as follows:

  1. New and used equipment sales: $253.6 million
  2. Parts sales: $69.5 million
  3. Service revenues: $60.6 million
  4. Rental revenues: $54.0 million
  5. Rental equipment sales: $28.5 million


ALTG's strong revenue growth in the latest quarter can be attributed to several factors. Firstly, the favorable full period impact from acquisitions contributed to the increase in revenues. Additionally, the availability of new equipment from OEMs, a favorable business climate for ALTG's equipment and services, and price increases also played a role in driving revenue growth. Furthermore, ALTG's ability to grow organically further supported the positive performance.


While ALTG demonstrated strong revenue growth, it is important to note that the cost of revenues also increased. The cost of new and used equipment sales, parts sales, service revenues, rental revenues, and rental depreciation all contributed to higher costs. Managing and optimizing these costs will be crucial for ALTG to maintain profitability and sustainable growth.


ALTG's organic new and used equipment sales increased by 13.1% over the same period last year, indicating the company's ability to generate growth without relying solely on acquisitions. This highlights ALTG's strong market position and customer demand for its products and services.


ALTG delivered a strong performance in the latest quarter, with total revenues increasing by 15.1% compared to the same period last year. The company benefited from the favorable impact of acquisitions, availability of new equipment, a favorable business climate, and price increases. ALTG's organic growth in new and used equipment sales further demonstrates its market strength. However, managing and optimizing costs will be crucial for ALTG to sustain profitability and continue its growth trajectory. Overall, ALTG's solid revenue growth reflects its strong market position and customer demand for its offerings.

Source documents

Form 10-Q  filed on Nov 08, 2023
15 pages scanned

Reference data

Company financials Q3 revenue 522M
Analyst estimates Q3 EPS missed by -72.73%
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