Alta equipment group announces third quarter 2024 financial results

Third quarter financial highlights: total revenues decreased $17.4 million year over year to $448.8 million construction equipment and material handling revenues of $262.3 million and $168.9 million, respectively product support revenues increased 7.8% year over year with parts sales increasing to $75.6 million and service revenues increasing to $64.6 million new and used equipment sales decreased 13.3% year over year to $219.8 million net loss available to common stockholders of $(28.4) million basic and diluted net loss per share of $(0.86) adjusted basic and diluted net loss per share* of $(0.72) adjusted ebitda* of $43.2 million third quarter 2024 net loss was impacted by a $14.0 million discrete tax expense from increasing the valuation allowance on our deferred tax assets, specifically related to 163(j) interest limitations additionally, on october 30, 2024, the company's board of directors approved an increase to the share buyback authorization from $12.5 million to $20.0 million livonia, mich., nov. 12, 2024 (globe newswire) -- alta equipment group inc. (nyse: altg) (“alta”, "we", "our" or the “company”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced financial results for the third quarter ended september 30, 2024.
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