Alta Equipment Group (ALTG) Misses Q2 EPS by 5c

Alta Equipment Group (NYSE: ALTG) reported Q2 EPS of ($0.14), $0.05 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $192.1 million versus the consensus estimate of $181.2 million.

Ryan Greenawalt, Chief Executive Officer of Alta, said, “Our solid second quarter results, despite the COVID-19 related challenges, demonstrate the dexterity of our cost structure and the capital efficiency of our Parts and Services businesses. We saw signs of stability and higher demand for both our material handling and construction equipment and services as the quarter progressed. We entered the second half of the year at close to full capacity and are operating at pre-COVID-19 levels.”

Mr. Greenawalt continued, “Additionally, we recently announced three accretive acquisitions that are perfectly aligned with our strategy to complement our organic growth with acquisitions that increase our existing market presence, expand our geographic footprint, provide a greater presence in the fast growing e-commerce, warehousing and logistics markets and broaden our OEM relationships.”

For earnings history and earnings-related data on Alta Equipment Group (ALTG) click here.

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