Alta Equipment Group Inc reports results for the quarter ended in June - Earnings Summary

Alta Equipment

08/08/2024 05:22

* Alta Equipment Group Inc  ALTG.N  reported a quarterly
adjusted
loss of 38 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 5 cents.  The mean expectation of five analysts for the
quarter was for a loss of 7 cents per share. Wall Street
expected results to range from -15 cents to 2 cents per share.
    * Revenue rose 4.2% to $488.10 million from a year ago;
analysts
expected $505.47 million. 
    * Alta Equipment Group Inc's reported EPS for the quarter
was a
loss of 38 cents​.
    * The company reported a quarterly loss of $12.6 million.
    * Alta Equipment Group Inc shares had risen by 8.7% this
quarter and lost 29.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 173.3% in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Alta Equipment
Group Inc is $17.00 
This summary was machine generated from LSEG data August 8 at
04:22 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.07          -0.38          Missed
 Mar. 31 2024      -0.20          -0.38          Missed
 Jan. 1 0001       -0.05          -0.08          Missed
 Sep. 30 2023      0.05           0.20           Beat