Alta Equipment Group Third Quarter 2024 Earnings: Misses Expectations

Alta Equipment Group (NYSE:ALTG) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$448.8m (down 3.7% from 3Q 2023).
• Net loss: US$28.4m (down from US$6.70m profit in 3Q 2023).
• US$0.85 loss per share (down from US$0.21 profit in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Alta Equipment Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates significantly.

Looking ahead, revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Trade Distributors industry in the US.

Performance of the American Trade Distributors industry.

The company's shares are up 5.7% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Alta Equipment Group that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.