Alta Equipment Group Q3 Revenue Falls 5.8% to $422.6M; Q4 Flat Outlook
Alta Equipment Group reported Q3 revenues of $422.6 million, down 5.8% year-over-year and below analysts’ estimates alongside a miss on adjusted operating income. For Q4, analysts forecast flat revenues after a 4.5% decline last year as peers SiteOne and Herc posted 3.2% and 27.1% sales gains respectively.
1. Q3 Revenue Miss
Alta Equipment Group’s Q3 revenues reached $422.6 million, marking a 5.8% year-over-year decline that fell short of analysts’ expectations and resulted in a significant adjusted operating income miss. The company has now missed revenue estimates multiple times over the past two years.
2. Q4 Outlook
Analysts anticipate flat Q4 revenues compared with a 4.5% year-over-year drop in the same quarter last year, with consensus estimates holding steady over the past 30 days. This stability suggests the market expects the company to maintain its current sales trajectory heading into the earnings release.
3. Peer Comparison
In the specialty equipment distributors segment, SiteOne delivered 3.2% year-over-year revenue growth but missed estimates by 0.9%, driving its shares up 7%, while Herc posted 27.1% sales gains yet fell short by 3.8%, sending its stock down 15%. These peer outcomes offer context for Alta’s upcoming results.
4. Analyst Sentiment and Price Target
Alta shares have climbed 3.6% over the past month versus a 5.3% average gain for peers, reflecting cautious optimism. The average analyst price target stands at $9.95, implying significant upside from the current $6.86 share price.