Alta Equipment reports Q1 EPS (48c), consensus (48c)

Reports Q1 revenue $423M, consensus $436.15M. Ryan Greenawalt, CEO of Alta, said “Our first quarter performance continues to underscore the resiliency of our business model. Despite the ongoing uncertainty regarding the macro economy, operating trends in our Construction Equipment business were stable as we realized the typical seasonal impacts in our Northeast and Midwest markets. Similar to years past, as the weather improved in late March, rental fleet naturally deployed to customers as they embark on peak construction season. Additionally, the Florida construction market remains healthy as both the Florida DOT and the federal government continue to fund large projects statewide. The stability in our Construction Equipment segment can be attributed to our customers focus on infrastructure-related projects rather than on the general non-residential markets, which we expect will drive consistent demand for heavy equipment for the remainder of the year. While our Material Handling new equipment sales were down when compared to the peak delivery levels realized in the first quarter of last year, stronger margins on new and used equipment sales helped offset the impact of reduced volumes. Additionally, we were encouraged by solid bookings in our Material Handling segment during the quarter which fills our sales pipeline in the second half of 2025. Importantly, our product support business remained solid in the quarter and continued to be a pillar of strength in the face of volatile general economic sentiment. Lastly, while the situation with tariffs remains fluid, based on current information we believe the current cost increases and surcharges from our major OEMs is manageable and will allow us to remain competitive in the equipment marketplace. This view, along with the resilience of our end markets and our product support business, underpins our reiteration of our guidance on an organic basis.”