Alta Equipment Group Announces Third Quarter 2024 Financial Results
Portfolio Pulse from
Alta Equipment Group reported a decrease in total revenues for Q3 2024, with a net loss of $28.4 million. Despite a rise in product support revenues, new and used equipment sales fell. The company increased its share buyback authorization to $20 million.
November 12, 2024 | 9:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Alta Equipment Group's Q3 2024 results show a revenue decrease and a net loss of $28.4 million. Despite increased product support revenues, equipment sales declined. The company raised its share buyback authorization to $20 million.
The decrease in total revenues and net loss of $28.4 million are negative indicators for Alta Equipment Group. The decline in new and used equipment sales further adds to the negative outlook. However, the increase in share buyback authorization could provide some support to the stock price, but overall, the financial results are likely to have a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100