Alta equipment group announces fourth quarter and full year 2023 financial results and provides adjusted ebitda guidance for 2024

Fourth quarter financial highlights: (comparisons are year over year) total revenues increased 21.7% year over year to $521.5 million construction and material handling revenues of $328.1 million and $179.0 million, respectively product support revenues increased 14.2% year over year with parts sales increasing to $69.1 million and service revenues increasing to $60.8 million new and used equipment sales grew 25.1% to $298.1 million net loss available to common stockholders of $(2.7) million compared to $(1.5) million in 2022 basic and diluted net loss per share of $(0.08) compared to $(0.05) in 2022 adjusted basic and diluted net income per share* of $0.03 for 2023 compared to $0.10 for 2022 adjusted ebitda* grew 16.4% to $49.7 million compared to $42.7 million in 2022 completed acquisitions of burris equipment company and ault industries inc. 2023 full year financial highlights: (comparisons are year over year) total revenues increased $305.0 million year over year to $1,876.8 million construction and material handling revenues of $1,124.7 million and $681.5 million, respectively master distribution with revenues of $83.8 million product support revenues increased 17.7% year over year with parts sales increasing to $278.3 million and service revenues increasing to $241.3 million new and used equipment sales grew 25.5% to $1,025.9 million net income available to common stockholders of $5.9 million compared to $6.3 million in 2022 basic and diluted net income per share of $0.18 compared to $0.20 in 2022 adjusted basic and diluted net income per share* of $0.69 and $0.68, respectively, compared to $0.58 for both in 2022 adjusted ebitda* grew 21.1% to $191.4 million, exceeding guidance midpoint, compared to $158.1 million in 2022 livonia, mich., march 14, 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 fourth quarter and full year ended december 31, 2023.
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