Alta equipment group announces strong first quarter 2023 financial results and increases adjusted ebitda guidance for 2023

First quarter financial highlights: (comparisons are year over year) total revenues increased 26.8% year over year to $420.7 million construction and material handling revenue of $233.1 million and $164.8 million, respectively introduced separate reporting segment, master distribution, with revenue of $26.7 million new and used equipment sales grew 44.9% to $219.6 million product support revenue increased 26.6% year over year with parts sales increasing to $68.4 million and service revenue increasing to $60.2 million net income of $0.2 million available to common stockholders compared to a loss of $(2.0) million in 2022 basic and diluted net income per share of $0.01 for 2023 compared to $(0.06) loss in 2022 adjusted basic and diluted net income per share* of $0.04 for 2023 compared to a loss of $(0.02) in 2022 adjusted ebitda* grew 36.0% to $40.8 million, compared to $30.0 million in 2022 increase full year 2023 adjusted ebitda guidance to $180 million to $188 million from the previously announced $177 million to $185 million livonia, mich., may 10, 2023 (globe newswire) -- alta equipment group inc. (nyse: altg) (“alta”), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced financial results for the first quarter ended march 31, 2023.
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