Key Highlights

  • Total revenues were USD 417.4 million, down 1.2%.
  • Net loss was USD 11.5 million, compared with USD 41.6 million.
  • Adjusted EBITDA was USD 44.9 million, up 7.7%.
  • Gross profit margin was 28.1%, compared with 27.9%.

Alta Equipment Group Inc. (NYSE:ALTG) reported third quarter 2026 consolidated revenues of USD 417.4 million, a decrease of USD 5.2 million, or 1.2%, compared with USD 422.6 million, while organic revenues decreased 0.7%. Reported EPS was negative USD 0.37 and Revenue was USD 417.40 million, compared with estimates of EPS of negative USD 0.26 and revenue of USD 452.30 million.

Revenue Detail

Organic new and used equipment revenues decreased 2.4%, as higher equipment sales in the Construction Equipment segment were more than offset by lower deliveries in the Material Handling and Master Distribution segments. Organic product support revenues declined 0.3%. Organic rental revenues decreased 1.9%, reflecting smaller average rental fleets from fleet optimization initiatives. Rental equipment sales increased 16.4% on an organic basis to USD 24.9 million, reflecting increased disposal of aging and underutilized rental fleet assets.

For the nine months ended September 30, 2026, consolidated revenues decreased USD 23.4 million, or 1.8%, to USD 1,303.4 million, compared with USD 1,326.8 million, and organic revenues decreased 1.0%.

Margins and Earnings

Gross profit was USD 117.3 million, compared with USD 117.8 million, and the consolidated Gross Profit Margin was 28.1%, up 20 basis points from 27.9%. New and used equipment margins increased 60 basis points to 15.6%, and service gross margins increased 250 basis points to 61.5%, which the company tied to service productivity initiatives including workforce optimization, improved technician productivity and efforts to reduce non-billable labor.

Operating expenses decreased by USD 2.9 million to USD 110.1 million. Other expense, net was USD 18.0 million, compared with USD 22.0 million. Net loss was USD 11.5 million, compared with USD 41.6 million, and net loss available to common stockholders was USD 12.2 million, compared with USD 42.3 million. Adjusted EBITDA was USD 44.9 million, compared with USD 41.7 million.

Segment and Nine Month Detail

Material Handling segment revenues decreased USD 16.3 million, or 9.7%, to USD 151.6 million. Organic new and used equipment sales in the segment decreased 16.0%, primarily reflecting lower new equipment deliveries, and segment gross profit was USD 53.1 million, compared with USD 56.1 million.

For the nine months, gross profit was USD 350.8 million, compared with USD 355.1 million, with a gross margin of 26.9%, compared with 26.8%. Net loss was USD 38.5 million, compared with USD 68.6 million, and adjusted EBITDA was USD 121.6 million, compared with USD 123.8 million. Other expense, net for the nine months decreased by USD 4.7 million to USD 55.5 million.

On an organic basis, nine month total revenues decreased USD 12.5 million, or 1.0%, from USD 1,315.0 million to USD 1,302.5 million. Organic new and used equipment revenues decreased 2.4%, organic product support revenues decreased 1.1% and organic rental revenues decreased 3.2%, while rental equipment sales increased 18.4% on targeted disposals of underutilized and aged fleet assets. Nine month new and used equipment margins increased 70 basis points to 15.3% and service gross margins increased 150 basis points to 61.1%. Material Handling segment revenues decreased USD 28.9 million, or 5.9%, to USD 457.6 million, and consolidated operating expenses increased USD 0.2 million to USD 337.3 million.

Where the Quarter Landed

Alta's third quarter showed revenues of USD 417.4 million, a net loss of USD 11.5 million compared with USD 41.6 million and adjusted EBITDA of USD 44.9 million. The filing links the service margin improvement to productivity initiatives, and its organic revenue lines show lower new and used equipment and rental revenues against higher rental equipment sales from fleet optimization.