ALTG

8-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 3, 2026

ALTA EQUIPMENT GROUP INC.

(Exact name of registrant as specified in its charter)

Delaware

001-38864

83-2583782

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

13211 Merriman Road

Livonia, Michigan 48150

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (248) 449-6700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $0.0001 par value per share

ALTG

The New York Stock Exchange

Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share

ALTG PRA

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.*

On August 6, 2026, Alta Equipment Group Inc. (“Alta” or the “Company”) issued a press release announcing its results of operations and financial condition for the quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Board of Directors (the “Board”) of the Company elected David Turner to join the Board of the Company, effective August 3, 2026, filling a newly created additional director position. Mr. Turner was elected as a Class II director with a term expiring at the Company’s annual meeting of shareholders in 2028.

As a non-employee director, Mr. Turner will receive cash compensation and an equity award for his Board service, in accordance with the Company’s non-employee director compensation program, as amended from time to time. There are no arrangements or understandings between Mr. Turner and any other persons pursuant to which Mr. Turner was selected to serve as director. Mr. Turner is not related to any officer or other director of the Company and there are no transactions or relationships between Mr. Turner and the Company that require disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1*

Press Release, dated August 6, 2026.

104

Cover Page Interactive Data File (embedded with the Inline XBRL document).

* The information furnished under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALTA EQUIPMENT GROUP INC.

Dated: August 6, 2026

By:

/s/ Ryan Greenawalt

Name: Ryan Greenawalt

Title: Chief Executive Officer

2

8-K

0001759824false0001759824altg:CommonStocksClassUndefinedMember2025-08-072025-08-0700017598242025-08-072025-08-070001759824us-gaap:PreferredStockMember2025-08-072025-08-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): August 7, 2025

ALTA EQUIPMENT GROUP INC.

(Exact name of registrant as specified in its charter)

Delaware

001-38864

83-2583782

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

13211 Merriman Road

Livonia, Michigan 48150

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (248) 449-6700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $0.0001 par value per share

ALTG

The New York Stock Exchange

Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share

ALTG PRA

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.*

On August 7, 2025, Alta Equipment Group Inc. (“Alta” or the “Company”) issued a press release announcing its results of operations and financial condition for the quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1*

Press Release, dated August 7, 2025.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

* The information furnished under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALTA EQUIPMENT GROUP INC.

Dated: August 7, 2025

By:

/s/ Ryan Greenawalt

Name: Ryan Greenawalt

Title: Chief Executive Officer

2

8-K

0001759824false0001759824us-gaap:PreferredStockMember2025-05-072025-05-0700017598242025-05-072025-05-070001759824altg:CommonStocksClassUndefinedMember2025-05-072025-05-07

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 7, 2025

ALTA EQUIPMENT GROUP INC.

(Exact name of registrant as specified in its charter)

Delaware

001-38864

83-2583782

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

13211 Merriman Road

Livonia, Michigan 48150

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (248) 449-6700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $0.0001 par value per share

ALTG

The New York Stock Exchange

Depositary Shares representing a 1/1000th fractional interest in a share of 10% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value per share

ALTG PRA

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.*

On May 7, 2025, Alta Equipment Group Inc. (“Alta” or the “Company”) issued a press release announcing its results of operations and financial condition for the quarter ended March 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

Item 8.01 Other Events.

On May 1, 2025, the Company’s Construction Equipment segment entered into a definitive agreement and closed on the divestiture of substantially all of its aerial fleet rental business in the Chicago, Illinois marketplace for $18.0 million in cash at closing, subject to fees and closing costs. The implied enterprise value of the divesture was approximately $20 million and the proforma Adjusted EBITDA associated with the divested business was estimated to be approximately $4 million, annually. The Company plans to allocate the proceeds from the divesture to reducing its outstanding senior indebtedness.

Additionally, the Board of Directors (the “Board”) approved an increase to the Company’s common stock repurchase program authorization from $20.0 million to $30.0 million. As it relates to the deployment of the increased repurchase program, the Board also approved the immediate allocation of $10.0 million to a Rule 10b5-1 Plan (the “Rule 10b5-1 Plan”), whereby the Company directs a fiduciary to purchase the Company’s common stock at pre-determined price intervals. During the term of the Rule 10b5-1 Plan the fiduciary is permitted to purchase the Company’s common stock regardless of reporting blackout periods or privileged information restrictions, thereby enhancing the Company’s ability to execute on the repurchase program. In addition to the Rule 10b5-1Plan, the Company also has $14.2 million remaining on the original $20.0 million common stock repurchase program authorization to be deployed at the discretion of the Company’s officers, including when the Rule 10b5-1 Plan has been exhausted or is inactive. Such discretion may include repurchasing shares of our common stock utilizing any methods permitted under the Exchange Act. This increase in the stock repurchase program, and the Rule 10b5-1 Plan associated thereto, is to effectively repurpose the capital that was historically being paid out to shareholders as a regular quarterly common stock dividend. To that end, on May 7, 2025, the Company issued a press release announcing that its Board is suspending the Company's quarterly cash dividend on its common stock indefinitely after the payment of the dividend on May 30, 2025, to shareholders of record at the close of business on May 15, 2025. A copy of the press release is attached hereto as Exhibit

EX-99.1

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EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces Fourth Quarter and Full Year 2024 Financial Results

and Provides Adjusted EBITDA Guidance for 2025

Equipment Fleet and Working Capital Management Generate Strong Fourth Quarter Cash Flows as Pressured Volumes and Gross Margins on Equipment Sales Drive Quarterly and Annual Earnings Decline

Fourth Quarter Financial Highlights: (comparisons are year over year)

• Total revenues decreased 4.5% year over year to $498.1 million

• Construction and Material Handling revenues of $318.6 million and $168.6 million, respectively

• Product support revenues decreased 2.3% year over year with Parts sales decreasing to $67.9 million and Service revenues decreasing to $59.0 million

• New and used equipment sales decreased 3.7% to $287.1 million

• Net loss available to common stockholders of $(11.4) million compared to $(2.7) million in 2023

• Basic and diluted net loss per share of $(0.34) compared to $(0.08) in 2023

• Adjusted basic and diluted pre-tax net (loss) income per share* of $(0.46) for 2024 compared to $0.04 for 2023

• Adjusted EBITDA* decreased 18.1% to $40.7 million compared to $49.7 million in 2023

2024 Full Year Financial Highlights: (comparisons are year over year)

• Total revenues decreased $0.2 million year over year to $1,876.6 million

• Construction and Material Handling revenues of $1,131.4 million and $687.4 million, respectively

• Master Distribution with revenues of $59.2 million

• Product Support revenues increased 5.5% year over year with Parts sales increasing to $294.4 million and Service revenues increasing to $253.8 million

• New and used equipment sales decreased 3.8% to $987.0 million

• Net (loss) income available to common stockholders of $(65.1) million compared to $5.9 million in 2023

• Basic and diluted net (loss) income per share of $(1.96) compared to $0.18 in 2023

• Adjusted basic and diluted pre-tax net (loss) income per share* of $(1.24) compared to $0.50 and $0.49, respectively, in 2023

• Adjusted EBITDA* decreased 12.1% to $168.3 million compared to $191.4 million in 2023

Livonia, MI. – March 5, 2025 – 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 fourth quarter and full year ended December 31, 2024.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “Overall, our 2024 performance was impacted by several factors including elevated interest rates and uncertainty regarding the U.S. presidential race, both of which contributed to a moderation of construction spending and a reduction of non-residential project starts in the U.S., when compared to 2023. This backdrop resulted in an overall decline in the North American construction equipment market, as equipment volumes within some of our regional markets were off approximately 10 to 20 percent, year over year. Additionally, in the face of waning demand, construction pricing was further pressured throughout the year as industry dealer channels were overstocked across the landscape, impacting gross margins and market share in our Construction segment. The factors that challenged our Construction segment also impacted our Master Distribution segment in 2024, negatively affecting equipment volumes

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ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

and gross margins year over year. In contrast, our Material Handling segment showed more resiliency, as North American lift truck deliveries grew in 2024 as the industry continued to work through record backlogs generated post-COVID. As a result, revenues for our Material Handling segment were $687.4 million, a slight increase from a year ago. Post-election, customer sentiment improved, which drove increased demand for equipment as evidenced by our fourth quarter equipment sales results where we registered our best equipment sales quarter of 2024. Despite the notable sequential increase in equipment sales in the fourth quarter, gross margins on equipment sales continued to be pressured as market participants aimed to right-size their inventory and rental fleet levels heading into the new year. Additionally, rental equipment seasonality in our northern regions as well as employee and customer downtime due to the holiday schedule also negatively impacted our results in the fourth quarter.”

Mr. Greenawalt continued, “Despite the contraction in the construction equipment markets and other macroeconomic concerns, our total revenues for 2024 were essentially flat from last year, at $1.9 billion, which demonstrated the resilience of our dealership model during market cyclicality and the strength of our multiple revenue streams, customer relationships, diversified product portfolio and attractive geographic footprint in the U.S.

EX-99.1

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EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces Third Quarter 2024 Financial Results

Third Quarter Financial Highlights:

• Total revenues decreased $17.4 million year over year to $448.8 million

• Construction Equipment and Material Handling revenues of $262.3 million and $168.9 million, respectively

• Product support revenues increased 7.8% year over year with Parts sales increasing to $75.6 million and Service revenues increasing to $64.6 million

• New and used equipment sales decreased 13.3% year over year to $219.8 million

• Net loss available to common stockholders of $(28.4) million

• Basic and diluted net loss per share of $(0.86)

• Adjusted basic and diluted net loss per share* of $(0.72)

• Adjusted EBITDA* of $43.2 million

• Third quarter 2024 net loss was impacted by a $14.0 million discrete tax expense from increasing the valuation allowance on our deferred tax assets, specifically related to 163(j) interest limitations

Additionally, on October 30, 2024, the Company's Board of Directors approved an increase to the share buyback authorization from $12.5 million to $20.0 million

Livonia, MI. – November 12, 2024 – 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, 2024.

CEO Comment:

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.”

Mr. Greenawalt continued, “While the equipment sales market has been disappointing in 2024, our dealership model with diverse revenue streams has protected our overall business from equipment market cyclicality. As evidence, our steady and high-margin product support business continues to perform well with revenues increasing 7.8% to $140.2 million versus a year ago. Additionally, given our rent-to-sell approach to the equipment rental market we are able to react quickly to perceived softness by selling off lightly used fleet and right-sizing our balance sheet in an efficient manner, and we are proud of the progress we made with the balance sheet as reductions in rental fleet and working capital allowed us to reduce net debt by $38.7 million in the quarter. Additionally, demand in our Material Handling segment remained steady, with revenues increasing slightly to $168.9 million as we continue to work through a sizeable backlog. During the third quarter, we also began to see positive impacts from our business optimization initiatives, as we were able to reduce general and administrative expenses when compared to the first two quarters of the year.”

Mr. Greenawalt added, “Overall, while we and the overall equipment markets have underperformed initial projections for 2024, our expectations for 2025 are positive. In terms of our Construction Equipment segment, we expect the oversupply of new equipment to normalize in the first half of 2025 and construction equipment spending to be positively impacted by easing interest rates and more favorable lending conditions. Infrastructure related project pipelines continue to be significant and still in the early stages and state DOT budgets are forecast to remain elevated in 2025. The opportunities in our Material Handling business remain favorable as we believe our strong relationship with Hyster-Yale, unmatched product support capabilities and resilient and diversified end markets will result in continued gains in market share in 2025. Lastly, we expect our electric vehicles business to gain further traction in 2025 as customers begin the transformational shift to electrify commercial vehicle fleets. Given this perspective on our future prospects, our Board of Directors has expanded our share buyback program to $20

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ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

million which we will deploy to support shareholders should opportunistic dislocations between the Company’s long-term intrinsic value and our share price present themselves.”

In conclusion, Mr. Greenawalt said, “Despite a challenging market in 2024, our 3,000 employees have demonstrated unprecedented dedication to our business and our customers. I am extre

EX-99.1

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EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces Second Quarter 2024 Financial Results

Second Quarter Financial Highlights:

• Total revenues increased $19.7 million year over year to $488.1 million

• Construction Equipment and Material Handling revenues of $294.9 million and $175.6 million, respectively

• Product support revenues increased 10.1% year over year with Parts sales increasing to $78.0 million and Service revenues increasing to $66.2 million

• New and used equipment sales decreased 1.2% year over year to $251.5 million

• Net loss available to common stockholders of $(12.6) million

• Basic and diluted net loss per share of $(0.38)

• Adjusted basic and diluted net income per share* of $0.01

• Adjusted EBITDA* of $50.3 million

Livonia, MI. – August 7, 2024 – 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 second quarter ended June 30, 2024.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “Our business rebounded well this quarter from the seasonally-challenged first quarter and in the face of a moderating market environment for new equipment sales. Notably, our product support business performed well in this moderating environment as we continued to achieve organic growth on increased field population with revenues increasing to a record of $144.2 million, an increase of $13.2 million from a year ago. Additionally, our Material Handling segment also continued on its steady path of profitable growth as we progressively execute on a solid sales backlog and gain market share in strategic regions and product categories throughout our footprint. We also saw a rebound in our Master Distribution segment as revenue in the quarter was $16.7 million versus $12.8 million in the first quarter. While we benefited from a return to normal seasonality and a strong quarter from our Material Handling segment and our product support business lines, market unit volumes in our Construction Equipment segment remain under pressure due to uncertainty regarding interest rates and the election outcome, especially affecting small to mid-size contractors. Additionally, our construction equipment sales margins continued to be impacted by the oversupply of competitive new equipment on the market in the quarter.”

Mr. Greenawalt continued, “In the second quarter, we gained further traction in our eMobility segment, which expands the Alta dealership model into the over-the-road commercial vehicle industry with a focus on commercial electric vehicles and fueling and charging infrastructure. To that end, we are excited about our new partnership with Harbinger Motors, a new manufacturer of best-in-class commercial electric vehicles in the medium-duty truck space. With the inclusion of Harbinger to our portfolio and the traction gained with new customers in the quarter, we now have approximately $25 million of sales backlog in the eMobility business that we expect the majority to convert to revenues in the second half of 2024.”

In conclusion, Mr. Greenawalt commented, “As we head into the second half of 2024 and into 2025, cost and fleet optimization and other initiatives to streamline our business will be high priorities as we calibrate to the transitioning environment. Despite what we believe to be potentially transitory headwinds for new equipment sales, our long-term outlook for our Construction Equipment segment remains positive. Infrastructure related project pipelines are significant. We expect state DOT budgets to remain elevated in 2025 and spending on federal infrastructure programs is still in the early innings. In the Material Handling segment, we’re proud to be a world-class partner of Hyster-Yale Materials Handling and believe that their product portfolio and commitment to advanced technologies combined with our diversified end-markets will allow us to gain market share in key regions in the years to come, regardless of volatility in the macro environment. I sincerely want to thank all of our 3,000 dedicated employees for their hard work and commitment to our business and to one another through the first half of the year.”

Full Year 2024 Financial Guidance and Other Financial Notes:

• The Company updates our guidance range and now expects to report Adjusted EBITDA between $190.0 million and $200.0 million for the 2024 fiscal year.

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ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

• On June 5, 2024, the Company sold $500.0 million of Senior Secured Second Lien Notes at the rate of 9.000% per annum, which are due on June 1, 2029 ("2029 Notes"). With the proceeds, the Company extinguished our $315.0 million of Senior Secured Second Lien Notes due April 2026. The Company recorded a loss on debt extinguish

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EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces First Quarter 2024 Financial Results

First Quarter Financial Highlights:

• Total revenues increased $20.9 million year over year to $441.6 million

• Construction and Material Handling revenues of $255.6 million and $174.3 million, respectively

• Product support revenues increased 6.5% year over year with Parts sales increasing to $72.9 million and Service revenues increasing to $64.0 million

• New and used equipment sales grew 4.1% year over year to $228.6 million

• Net loss available to common stockholders of $(12.7) million

• Basic and diluted net loss per share of $(0.38)

• Adjusted basic and diluted net loss per share* of $(0.22)

• Adjusted EBITDA* of $34.1 million

Livonia, MI. – May 8, 2024 – 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 first quarter ended March 31, 2024.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “Our first quarter results, in line with history and expectations, once again reflected the seasonal nature of our business as the winter weather impacted the Construction Equipment segment in our northern regions. Despite the seasonality, we were able to achieve $441.6 million of revenues for the quarter, up $20.9 million from the same period last year. Additionally, activity-related key performance indicators presented well for the quarter and our combined product support and rental revenues grew $6.3 million, or 3.7%, on an organic basis when compared to Q1 2023, reflecting the resilience of our end markets and continued elevated levels of activity and equipment utilization in our customer base. While new and used equipment sales in our core lift truck and construction segments increased $29.3 million from a year ago, equipment revenue mix negatively impacted equipment sales margins overall. Specifically, Ecoverse’s high-margin equipment sales were down $14.4 million versus the first quarter of last year on a record sales comparison, as Ecoverse was replenishing its sub-dealers’ inventories in the first quarter of 2023 amidst OEM equipment supply chain normalization. Additionally, within our Material Handling segment, our Peaklogix subsidiary, which sells high-margin automated warehouse system solutions, was down $8.7 million when compared to last year as its customer base has been impacted by the elevated level of interest rates leading to elongated capex decision making. While we believe the Peaklogix business will continue to be impacted by 'higher for longer' interest rates, we are confident that the Ecoverse variance in the first quarter is isolated as its customer base, which is focused on waste management, organics processing and composting, continues to realize solid annualized growth and equipment utilization remains strong."

Mr. Greenawalt added, "As we emerge from the weather-impacted first quarter and into construction season in the north, we remain bullish about the backlog of work and general activity levels at our customers for the remainder of 2024, which we believe will bode well for our product support and rental business lines, both of which experienced their natural seasonal increase in April. That said, we believe new equipment sales and sales profit margins, which have ebbed and flowed quarter to quarter historically, could be impacted over the remainder of the year by the increase of new equipment supply on the market and competitive pricing pressures. Nevertheless, we intend to continue to win our share of equipment deals by selling our overall dealership capabilities and what we believe to be an industry-leading value proposition.”

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EARNINGS PRESS RELEASE

In conclusion, Mr. Greenawalt commented, “Despite the potential for choppiness in new equipment sales, we remain positive regarding our opportunities this year and will continue to focus on customer equipment “uptime” relative to our product support business lines as well as our absorption ratio and cost optimization. Industry indicators continue to be supportive of medium and long-term growth in our end-user markets. We have a solid equipment backlog in our Material Handing segment and our Construction Equipment business will benefit from strong non-residential construction activity, increased state DOT budgets and accelerated spending on federal infrastructure programs for years to come. I sincerely want to thank all of our employees for their hard work in the first quarter. I am grateful for their dedication to our Guiding Principles and for providing best-in-class service to our customers.”

Full Year 2024 Financial Guidance and Other Financial Notes:

• The Company adjusted the top end of our 2024 guidance ra

EX-99.1

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EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces Fourth Quarter and Full Year 2023 Financial Results

and Provides Adjusted EBITDA Guidance for 2024

Fourth Quarter Financial Highlights: (comparisons are year over year)

• Total revenues increased 21.7% year over year to $521.5 million

• Construction and Material Handling revenues of $328.1 million and $179.0 million, respectively

• Product support revenues increased 14.2% year over year with Parts sales increasing to $69.1 million and Service revenues increasing to $60.8 million

• New and used equipment sales grew 25.1% to $298.1 million

• Net loss available to common stockholders of $(2.7) million compared to $(1.5) million in 2022

• Basic and diluted net loss per share of $(0.08) compared to $(0.05) in 2022

• Adjusted basic and diluted net income per share* of $0.03 for 2023 compared to $0.10 for 2022

• Adjusted EBITDA* grew 16.4% to $49.7 million compared to $42.7 million in 2022

• Completed acquisitions of Burris Equipment Company and Ault Industries Inc.

2023 Full Year Financial Highlights: (comparisons are year over year)

• Total revenues increased $305.0 million year over year to $1,876.8 million

• Construction and Material Handling revenues of $1,124.7 million and $681.5 million, respectively

• Master Distribution with revenues of $83.8 million

• Product Support revenues increased 17.7% year over year with Parts sales increasing to $278.3 million and Service revenues increasing to $241.3 million

• New and used equipment sales grew 25.5% to $1,025.9 million

• Net income available to common stockholders of $5.9 million compared to $6.3 million in 2022

• Basic and diluted net income per share of $0.18 compared to $0.20 in 2022

• Adjusted basic and diluted net income per share* of $0.69 and $0.68, respectively, compared to $0.58 for both in 2022

• Adjusted EBITDA* grew 21.1% to $191.4 million, exceeding guidance midpoint, compared to $158.1 million in 2022

Livonia, MI. – March 14, 2024 – 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 fourth quarter and full year ended December 31, 2023.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “The momentum in our business continued throughout the balance of 2023 and as a result, we delivered solid financial and operating results for the fourth quarter and 2023 fiscal year. Total revenues grew 21.7% to $521.5 million for the fourth quarter and increased 19.4% to $1.9 billion for the year. Our business continues to benefit from the broad-based strength in our major end-user markets. For the year, revenues from our Construction Equipment segment grew 12.9% to $1.1 billion while Material Handling revenues increased 19.4% to $681.5 million. As a result, our high-margin parts and service business revenue increased 17.7% to $519.6 million. One of our key priorities remains providing our customers with best-in-class support to keep their fleets and job sites running with as little down time as possible. Thus, we continued to expand our field service population, ending the year with more than 1,300 skilled technicians, which represents nearly half of our 3,000 employees. Overall, we achieved record results in 2023.”

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Mr. Greenawalt continued, “Our diversified growth strategy continues to prove very successful. During the year, we achieved organic revenues growth of 12.3% by increasing our market share, expanding our product portfolio, investing in rental fleet and entering new territories. The 16 acquisitions we have completed since going public in 2020 are also major contributors to our success, providing $537 million in revenues and $65 million in Adjusted EBITDA. We are continuing to pursue accretive acquisitions opportunities which would further expand the scale and scope of product offerings for our customers. Of course, our success would not be possible without the solid execution by our dedicated team at Alta.”

In conclusion, Mr. Greenawalt commented, “Our outlook for 2024 is positive as industry indicators support our expectations for continued growth this year. Non-residential construction starts are forecast to increase compared to 2023. The material handling industry is forecasting another year of strong lift truck deliveries that is likely to resemble, if not exceed, the record year of lift truck deliveries in 2023. Additionally, state DOT 2024 fiscal year budgets are more than 10% higher than last year. And importantly, the sentiment from our customers is consistent with strength we experienced in 2023. Finally, we are very focused on continued growth and operating leverage in 2024 with the end goal of improving shareholder value.

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2 altg-ex99_1.htm

EX-99.1

EX-99

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Announces Fourth Quarter and Full Year 2022 Financial Results

and Provides Adjusted EBITDA Guidance for 2023

Fourth Quarter Financial Highlights: (comparisons are year over year)

• Total revenues increased 20.3% year over year to $428.6 million

• Construction and Material Handling revenue of $269.0 million and $154.3 million, respectively

• Product Support revenue increased 25.4% year over year with Parts Sales increasing by $13.1 million and Service Revenue increasing by $9.9 million

• Net loss of $(1.5) million available to common stockholders compared to $(1.3) million in 2021

• Basic and diluted net loss per share of $(0.05) compared to $(0.04) in 2021

• Adjusted basic and diluted net income per share* of $0.04 for both 2022 and 2021

• Adjusted EBITDA* grew 15.7% to $42.7 million compared to $36.9 million in 2021

• In December 2022, the Company entered into an agreement to purchase the assets of M&G Materials Handling Co. ("M&G"), a privately held Yale dealer with presence in Rhode Island. M&G generated approximately $5.8 million in revenue in the trailing twelve months through August 2022. The purchase price is approximately $2.3 million. The deal was closed on March 1, 2023.

2022 Full Year Financial Highlights: (comparisons are year over year)

• Total revenues increased $359.0 million year over year to $1,571.8 million

• Construction and Material Handling revenue of $995.8 million and $570.7 million, respectively

• Product Support revenue increased $97.4 million year over year to $441.4 million

• Net income of $6.3 million available to common stockholders compared to a loss of $(23.4) million in 2021

• Basic and diluted net income per share of $0.20 compared to loss of $(0.74) in 2021

• Adjusted basic and diluted net income per share* of $0.40 and $0.39, respectively, compared to a loss of $(0.15) in 2021

• Adjusted EBITDA* grew 31.8% to $158.1 million, exceeding guidance, compared to $120.0 million in 2021

• Initiated quarterly Common Stock dividend of $0.057 per share and a $12.5 million share repurchase program

• Completed acquisitions of Ecoverse Industries, LTD (“Ecoverse”) and Yale Industrial Trucks Inc.

• Introduces full year 2023 Adjusted EBITDA guidance of $177 million to $185 million, representing a 14.5% increase at the midpoint year over year

Livonia, MI. – March 9, 2023 – Alta Equipment Group Inc. (NYSE: ALTG) (“Alta”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced financial results for the fourth quarter and full year ended December 31, 2022.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “We believe our performance for the fourth quarter and the full year 2022 demonstrates the strength and resiliency of our business. Despite certain macroeconomic headwinds, all segments of our business are performing well, and we are achieving growth both organically and through our accretive acquisitions. Total revenues for the year increased 29.6%, or $359.0 million. Organic revenue growth for the year was $193.9 million, or 16.1%, when compared to last year. Importantly, this figure was driven by a 13.6% organic increase in our combined parts and service product support departments and a 10.3% organic gain in rental revenues when compared to 2021. Including revenues of $174.9 million from our 2021 and 2022 acquisitions, we achieved record total revenues of $1,571.8 million for 2022.”

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EARNINGS PRESS RELEASE

In conclusion, Mr. Greenawalt commented, “Given our diverse end-user market exposure and active M&A pipeline, we believe we are well positioned to achieve further growth in 2023. Demand in our Material Handling and Construction Equipment segments continue to be solid and will further benefit from infrastructure and other governmental legislation. As an example, our Florida operations are performing very well amidst the continued growth in non-residential construction projects and significant state spending on highways. We also continue to build our high-margin product support capabilities, which generates predictable, high-margin parts and service revenues. At year end, we had 1,150 highly skilled service technicians. Additionally, our warehouse systems-integration business continues to perform well, and we expect this trend to continue for the foreseeable future as customers embrace robotics and automation. We are also very encouraged with our opportunities with Ecoverse as the market for environmental processing equipment is in its early stages of development in North America. Ecoverse will benefit from stricter federal and state environmental regulations which we expect will put an impetus on increased recycling and reuse of materials throughout both the US and Canada.”

Full Year 2023 Financial Guidance:

EX-99.1

2 altg-ex99_1.htm

EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Inc. Reports Third Quarter 2022 Financial Results

And Raises 2022 Guidance for Adjusted EBITDA

Third Quarter Financial Highlights: (comparisons are year over year)

• Total revenues increased 37.3% year over year to $405.0 million

• Construction and Material Handling revenue of $249.7 million and $155.3 million, respectively

• Product Support revenue increased $29.4 million year over year to $116.1 million

• Conditions in the Company’s end-user markets remain strong driving continued growth

• Net income of $4.4 million available to common shareholders compared to a loss of $(0.6) million in 2021

• Basic and diluted net income per share of $0.14 compared to loss of $(0.02) in 2021

• Adjusted basic and diluted net income per share* of $0.18 compared to $0.01 in 2021

• Adjusted EBITDA* grew 39.2% to $44.0 million, compared to $31.6 million in 2021

Livonia, MI. – November 9, 2022 – Alta Equipment Group Inc. (“Alta” or the “Company”) (NYSE: ALTG), a leading provider of premium material handling and construction equipment and related services, today announced financial results for the third quarter ended September 30, 2022.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “We are extremely pleased with our third quarter performance as our financial and operational results continue to reflect our unique position in the market and successful growth initiatives. Total revenues increased 37.3%, or $110.0 million, to $405.0 million. As of the end of the third quarter, we have generated $1.1 billion in total revenue, roughly equal to our total revenue for full-year 2021. Our trajectory for Adjusted EBITDA also continues to grow, up 39.2% versus the year ago quarter and has nearly surpassed 2021 levels on a year-to-date basis. We also continued to achieve GAAP net income this quarter versus a loss a year ago. Our M&A strategy is proving very successful and is significantly contributing to our accelerated growth. Overall, the third quarter continued to reflect the consistency in our business and the stability in our end-user markets.”

Regarding business conditions, Mr. Greenawalt noted, “While certain segments of the economy are slowing, our flexible business model, broad-based market exposure and the breadth of our product portfolio helps protect our business from swings in macro trends as proven by our consistently strong growth thus far this year. Customer sentiment is an indicator we constantly monitor, and it remains positive for the balance of this year and into 2023. On a longer-term basis, we also remain encouraged as several federal initiatives are likely to positively impact the extension of the cycle including the $550 billion infrastructure bill, and the Chips and Inflation Reduction Acts, which support an intensified effort on manufacturing and renewable projects in the United States.”

In conclusion, Mr. Greenawalt commented, “As demonstrated by our financial results and recent transactions, our growth strategy remains very much intact, and the pipeline remains robust. On a trailing twelve-month basis, our acquisitions since the IPO have added $440.0 million in revenue and a significant amount of EBITDA to the enterprise. Our acquisition of Yale Industrial Trucks, Inc., a privately held Yale lift truck dealer with five locations in southeastern Canada, is progressing very well and we have added several new OEMs to expand our product portfolio to further support our customers’ needs. We recently closed our acquisition of Ecoverse Industries, which provides us with the master dealer rights to distribute best-in-class environmental equipment and parts to dealers and customers throughout North America. This immediately positions Alta as an industry leader in the rapidly growing

1

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EARNINGS PRESS RELEASE

market of eco-friendly waste solutions and material recycling, which we believe represents a significant opportunity for our business.”

Full Year 2022 Financial Guidance:

• The Company is increasing its guidance range and currently expects to report Adjusted EBITDA between $155 million and $158 million, net of new equipment floorplan interest, for the full year 2022. This is an increase from between $147 million and $152 million, as previously expected.

2

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Three Months Ended September 30,

Increase (Decrease)

Nine Months Ended September 30,

Increase (Decrease)

2022

2021

2022 versus 2021

2022

2021

2022 versus 2021

Revenues:

New and used equipment sales

$

210.1

$

136.8

$

73.3

53.6

%

$

579.0

$

392.6

$

186.4

47.5

%

Parts sales

61.8

44.8

17.0

37.9

%

173.5

130.3

43.2

33.2

%

Service revenue

54.3

41.9

12.4

29.6

%

154.2

123.0

31.2

25.4

%

Rental revenue

50.2

41.7

8.5

20.4

%

131.5

113.0

18.5

16.4

%

Rental equipment sales

2

EX-99.1

2 altg-ex99_1.htm

EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Inc. Reports Second Quarter 2022 Financial Results

And Raises 2022 Guidance for Adjusted EBITDA

Second Quarter Financial Highlights: (comparisons are year over year)

• Total revenues increased 38.9% year over year to $406.5 million

• Construction and Material Handling revenue of $271.0 million and $135.5 million, respectively

• Product Support revenue increased $23.5 million year over year to $110.0 million

• Record second quarter financial results primarily due to strong demand for equipment and product support growth

• Net income of $5.4 million available to common shareholders compared to a loss of $(15.8) million in 2021

• Adjusted basic and diluted net income per share* of $0.21 compared to loss of $(0.06) in 2021

• Adjusted EBITDA* grew 45.3% to $41.4 million, compared to $28.5 million in 2021

Livonia, MI. – August 9, 2022 – Alta Equipment Group Inc. (“Alta” or the “Company”) (NYSE: ALTG), a leading provider of premium material handling and construction equipment and related services, today announced financial results for the second quarter ended June 30, 2022.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “As a result of the ongoing strong demand in our end-user markets, solid execution, flexible business model and the positive contributions from our growth initiatives, we delivered record results for the second quarter. Total revenues increased 38.9%,or $113.8 million, to $406.5 million and Adjusted EBITDA also increased significantly from a year ago. We also achieved $5.4 million of GAAP net income for the quarter. We are seeing significant strength in our Construction segment and our Material Handling business is also performing well. As a result of our performance in the second quarter and our visibility going forward, we have raised our Adjusted EBITDA guidance for the year.”

In terms of our market outlook, Mr. Greenawalt noted “Despite the headline economic news, concerns about a recession, our business indicators remain robust for our end-user markets. Project activity across all our regions remain solid and our industry’s business cycle remains in growth mode. Our large level of new equipment sales for the quarter is indicative of pent-up demand for equipment that continues to manifest itself in historic levels of equipment sales backlogs. Our parts and service revenue lines are benefiting from an aging field population as we provide customers with best-in-class skilled technicians to keep their business operations up and running. We believe the finalization of the infrastructure bill will be an incremental benefit to our business in 2023 and beyond.”

In conclusion, Mr. Greenawalt commented, “We have effectively executed our growth strategy over the past two years and our second quarter results reflect that success. On a trailing twelve-month basis, our acquisitions since the IPO have added $376 million in revenue and $42.4 million in Adjusted EBITDA to the enterprise. After quarter end we entered into a definitive agreement to acquire Yale Industrial Trucks, Inc. (“YIT”), a privately held Yale lift truck dealer with five locations in southeastern Canada. The YIT deal is very consistent with our strategy to increase the scale of our business and will establish a presence for Alta in an international market for the first time. Our balance sheet is very solid and will support further acquisition activity as well as our new capital allocation policy, which includes paying a regular quarterly dividend and a share repurchase program.”

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ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Full Year 2022 Financial Guidance:

• The Company increased its guidance range and currently expects to report Adjusted EBITDA between $147 million and $152 million, net of new equipment floorplan interest, for the full year 2022. This is an increase from between $137 million and $142 million, as previously expected.

Three Months Ended June 30,

Increase (Decrease)

Six Months Ended June 30,

Increase (Decrease)

2022

2021

2022 versus 2021

2022

2021

2022 versus 2021

Revenues:

New and used equipment sales

$

217.3

$

132.0

$

85.3

64.6

%

$

368.9

$

255.8

$

113.1

44.2

%

Parts sales

58.3

44.1

14.2

32.2

%

111.7

85.5

26.2

30.6

%

Service revenue

51.7

42.4

9.3

21.9

%

99.9

81.1

18.8

23.2

%

Rental revenue

43.6

38.2

5.4

14.1

%

81.3

71.3

10.0

14.0

%

Rental equipment sales

35.6

36.0

(0.4

)

(1.1

)%

76.4

67.8

8.6

12.7

%

Total revenues

$

406.5

$

292.7

$

113.8

38.9

%

$

738.2

$

561.5

$

176.7

31.5

%

Cost of revenues:

New and used equipment sales

$

182.2

$

112.5

$

69.7

62.0

%

$

306.1

$

219.0

$

87.1

39.8

%

Parts sales

40.0

30.6

9.4

30.7

%

76.7

59.3

17.4

29.3

%

Service revenue

21.9

16.4

5.5

33.5

%

42.0

30.9

11.1

35.9

%

Rental revenue

5.4

5.2

0.2

EX-99.1

2 altg-ex99_1.htm

EX-99.1

EX-99.1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Exhibit 99.1

Alta Equipment Group Inc. Reports First Quarter 2022 Financial Results

First Quarter Financial Highlights: (comparisons are year over year)

• Net revenues increased 23.4% year over year to $331.7 million

• Construction and Material Handling revenue of $206.1 million and $125.6 million, respectively

• Product Support revenue increased $21.5 million year over year to $101.6 million

• Record first quarter financial results primarily due to strong demand for equipment and product support growth

• Net loss of $(2.0) million available to common shareholders compared to a loss of $(5.7) million in 2021

• Adjusted basic and diluted net loss per share* of $(0.02) compared to $(0.14) in 2021

• Adjusted EBITDA* grew 30.4% to $30.0 million, compared to $23.0 million in 2021

Livonia, MI. – May 10, 2022 – Alta Equipment Group Inc. (“Alta” or the “Company”) (NYSE: ALTG), a leading provider of premium material handling and construction equipment and related services, today announced financial results for the first quarter ended March 31, 2022.

CEO Comment:

Ryan Greenawalt, Chief Executive Officer of Alta, said “We are very pleased with our solid start to 2022 and the current momentum in our business. Total revenues increased 23.4%, or $62.9 million, to $331.7 million in the first quarter from a year ago. We remain extremely focused on operational excellence and as a result, delivered both solid organic and acquisition-related revenue growth. Consistent with our fourth quarter results, our Construction and Material Handling segments continued to benefit from the strong tailwinds in our end-user markets, producing significant year-over-year revenue growth on a combined basis, despite ongoing supply chain issues. Our flexible business model, increased product support revenues driven by higher new and used equipment sales, and expansion into higher margin specialty segments will continue to have a positive impact on future profitability.”

Discussing the current market environment, Mr. Greenawalt noted “Customer sentiment, project activity and visibility, remains extremely positive across all our operating markets. Demand for new and used equipment and rental equipment has eclipsed pre-pandemic peak levels. As an example, our organic physical rental fleet utilization was up more than 5 percentage points from a year ago and rates on rental equipment continued to strengthen in the first quarter. We are operating in a fundamentally robust expansion cycle and all the industry indicators are extremely encouraging for the balance of the year. While the timing is uncertain, the recently passed Bipartisan Infrastructure bill should also be an incremental benefit to our business.”

Mr. Greenawalt, concluded, “Our 2022 growth strategy remains very much intact, and we have a solid pipeline of M&A opportunities we are evaluating that are consistent with our previous deals. Our ongoing goal is to expand our presence in existing key markets, add broader high-margin capabilities to new regions and expand into new markets which offer substantial growth opportunities. We have a strong balance sheet to support our expansion initiatives. Lastly, our entrance into the commercial electric vehicle industry and partnership with Nikola is progressing very well. While this initiative won’t be a material contributor to our results in 2022, it puts us in an excellent position to be an EV truck market leader in the densest truck markets in the country.”

1

ALTA EQUIPMENT GROUP INC.

EARNINGS PRESS RELEASE

Three Months Ended March 31,

Increase (Decrease)

2022

2021

2022 versus 2021

Revenues:

New and used equipment sales

$

151.6

$

123.8

$

27.8

22.5

%

Parts sales

53.4

41.4

12.0

29.0

%

Service revenue

48.2

38.7

9.5

24.5

%

Rental revenue

37.7

33.1

4.6

13.9

%

Rental equipment sales

40.8

31.8

9.0

28.3

%

Net revenues

$

331.7

$

268.8

$

62.9

23.4

%

Cost of revenues:

New and used equipment sales

$

123.9

$

106.5

$

17.4

16.3

%

Parts sales

36.7

28.7

8.0

27.9

%

Service revenue

20.1

14.5

5.6

38.6

%

Rental revenue

5.4

5.5

(0.1

)

(1.8

)%

Rental depreciation

20.3

19.4

0.9

4.6

%

Rental equipment sales

33.9

26.9

7.0

26.0

%

Cost of revenues

$

240.3

$

201.5

$

38.8

19.3

%

Gross profit

$

91.4

$

67.3

$

24.1

35.8

%

General and administrative expenses

$

82.9

$

64.8

$

18.1

27.9

%

Depreciation and amortization expense

3.9

2.0

1.9

95.0

%

Total general and administrative expenses

$

86.8

$

66.8

$

20.0

29.9

%

Income from operations

$

4.6

$

0.5

$

4.1

820.0

%

Other (expense) income:

Interest expense, floor plan payable – new equipment

$

(0.3

)

$

(0.5

)

$

0.2

(40.0

)%

Interest expense – other

(5.8

)

(5.3

)

(0.5

)

9.4

%

Other income

0.3

0.1

0.2

200.0

%

Total other expense

$

(5.8

)

$

(5.7

)

$

(0.1

)