Alta Equipment Group Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤2026 revenue $417.4 million, down $5.2 million year over year
- ➤Adjusted EBITDA $44.9 million, up $3.2 million year over year
- ➤Material Handling bookings increased 67% year over year; backlog continued growing
- ➤2026 Adjusted EBITDA guidance revised to $165.0 million-$170.0 million
- ➤Net loss available to common stockholders narrowed to $12.2 million from $42.3 million
Expert Statements
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“Our third quarter results reflect the progress we are making to generate stronger earnings and returns from a more efficient capital base.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“Adjusted EBITDA increased approximately 8% year over year to $44.9 million despite a meaningfully smaller investment in rental fleet and inventory.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“Since year-end, we have reduced the combined carrying value of inventory and net rental fleet by approximately $45 million.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“As throughput improves, we expect the significant increase in bookings and backlog to translate into higher equipment deliveries and revenues.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“We believe this provides improved visibility and a meaningful base of future revenues as we move through the fourth quarter and into 2027.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
Ryan Greenawalt, Chief Executive Officer of Alta Equipment Group
“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.”
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.
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