Alta Equipment Group (ALTG) Reports Q1 Loss of $0.91/sh
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Alta Equipment Group Inc. Reports First Quarter 2020 Financial Results
May 14, 2020 4:05 PM EDTProvides Update on Response to COVID-19
Net revenues increased 76% year-over-year to $180.5 million from $102.3 million Industrial and Construction revenues reach $94.6 million and $85.9 million, respectively Gross profit increased to $47.1 million from $27.5 million Net loss from operations of $5 million; net loss of $17 million, primarily due to business combination completed in February 2020 First quarter 2020 Adjusted EBITDA* of $18.8 million (reflecting seasonality of business in Q1, historically ~20% of annual EBITDA) Labor utilization rate sustains at benchmark levels throughout COVID-19 impacted periodsLIVONIA, Mich.--(BUSINESS WIRE)-- Alta Equipment... More
