Alta Equipment Group Q1 Adj $(0.22) Misses $(0.20) Estimate, Sales $441.60M Beat $420.40M Estimate
Portfolio Pulse from Benzinga Newsdesk
Alta Equipment Group (NYSE:ALTG) reported Q1 adjusted losses of $(0.22) per share, missing the $(0.20) estimate by 10%, and a 650% decrease from last year's earnings. However, their sales of $441.60M exceeded the $420.40M estimate by 5.04%, marking a 4.97% increase from the previous year.
May 08, 2024 | 8:20 pm
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Alta Equipment Group reported a larger than expected Q1 loss per share but exceeded sales estimates, indicating mixed financial health.
The missed EPS estimate by 10% could negatively impact investor sentiment and stock price in the short term. However, the better-than-expected sales figures, beating estimates by 5.04%, could offset some of the negative impact. The mixed financial results suggest a neutral short-term price direction as investors weigh the implications of both the earnings miss and the sales beat.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100