Alta Equipment Group reports Q3 adjusted EPS (72c), consensus (24c)

Reports Q3 revenue $448.8M, consensus $479.87M. Ryan Greenawalt, Chief Executive Officer of Alta, said “Our third quarter results continued to be impacted by the ongoing uncertainty in our end-user markets as it relates to customers committing to capital investment and purchasing new equipment. This dynamic has been most impactful in our Construction Equipment segment, where new and used equipment revenues decreased by $44.5 million, or 29.5%, from a year ago on an organic basis. Some customers put capital investments on hold in the third quarter while they waited for the election outcome and more clarity on interest rates. In the immediate aftermath post-election, it appears that sentiment has already improved, and we believe our customers will deploy capital more broadly in 2025.”