olivLaw · US equity research
Alta Equipment Group, Inc. ALTG
Wholesale-Industrial Machinery & Equipment · SIC 5084 · Vertical: Wholesale — durable goods (SIC 508x)
Alta Equipment Group is an integrated equipment dealer in North America that sells, rents and services material handling, construction and environmental processing equipment. In the second quarter of 2026 total revenues were 475.5 million USD and the company reported signs of demand recovery, while its 2026 Adjusted EBITDA guidance remains between 167.5 and 177.5 million USD.
At the close of 04 Nov 2026, Alta Equipment Group, Inc. (ALTG) stock was 6.89 USD (−5.49% on the day), with market capitalisation 225.1 m USD, dividend yield 1.65%, beta 1.96, 52-week range 4.19–8.30 USD. Latest reported quarter (Q2 2026): revenue of 475.5 m USD (−1.2% YoY), net income of -7.5 m USD, diluted EPS -0.25 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 54.4
- neutral
- Bollinger (20, 2)
- 5.52 – 7.65
- in the upper half of the band · %B 0.64 · band width 32.3%
- SMA 50 / 200
- 6.27 / 6.53
- mixed trend
- MACD (12, 26, 9)
- 0.28 / 0.20
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +6.8% | −1.1% | +7.9 pp | — |
| 3 months | −7.9% | −0.5% | −7.4 pp | — |
| 6 months | −17.0% | +4.4% | −21.4 pp | — |
| Year to date | +49.8% | +12.3% | +37.5 pp | — |
| 1 year | +17.4% | +13.5% | +3.8 pp | +26.2% |
| 3 years | −33.4% | +76.4% | −109.8 pp | +35.6% |
| 5 years | −58.1% | +63.7% | −121.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 448.8 m | 498.1 m | 423.0 m | 481.2 m | 422.6 m | 509.1 m | 410.5 m | 475.5 m |
| Cost of revenue | 324.2 m | 381.6 m | 308.0 m | 358.9 m | 304.8 m | 389.6 m | 301.2 m | 351.3 m |
| Gross profit | 124.6 m | 116.5 m | 115.0 m | 122.3 m | 117.8 m | 119.5 m | 109.3 m | 124.2 m |
| SG&A | 110.6 m | 106.8 m | 106.7 m | 102.3 m | 105.9 m | 107.8 m | 108.2 m | 105.6 m |
| Operating income | 6.8 m | 2.4 m | 800.0 k | 12.4 m | 4.8 m | 5.2 m | -5.7 m | 12.0 m |
| Depreciation & amortisation | 37.8 m | 34.7 m | 32.4 m | 34.6 m | 34.9 m | 31.7 m | 30.3 m | 33.8 m |
| Interest expense | 22.6 m | 23.4 m | 21.9 m | 22.3 m | 22.4 m | 21.8 m | 19.5 m | 19.5 m |
| Pre-tax income | -16.1 m | -19.5 m | -20.2 m | -4.8 m | -17.2 m | -16.6 m | -23.3 m | -7.9 m |
| Income tax | 11.6 m | -8.9 m | 700.0 k | 1.3 m | 24.4 m | -4.9 m | -3.8 m | -400.0 k |
| Net income | -27.7 m | -10.6 m | -20.9 m | -6.1 m | -41.6 m | -11.7 m | -19.5 m | -7.5 m |
| Diluted EPS | -0.86 | -0.32 ≈ | -0.65 | -0.21 | -1.31 | -0.36 ≈ | -0.62 | -0.25 |
| Operating cash flow | 46.3 m ≈ | 34.9 m | -17.5 m | 14.1 m ≈ | 2.5 m ≈ | 33.9 m | 20.8 m | 5.3 m ≈ |
| Capex | 4.2 m ≈ | 4.0 m | 1.7 m | 2.2 m ≈ | 4.2 m ≈ | 1.1 m | 3.0 m | 3.0 m ≈ |
| Dividends paid | 700.0 k ≈ | 800.0 k | 800.0 k | 700.0 k ≈ | 700.0 k ≈ | 800.0 k | 800.0 k | 700.0 k ≈ |
| Share repurchases | 0 ≈ | 3.8 m | — | — | 0 ≈ | 1.0 m | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | 557.4 m | 873.6 m | 1.2 bn | 1.6 bn | 1.9 bn | 1.9 bn | 1.8 bn |
| Revenue YoY | unavailable | unavailable | +56.7% | +38.8% | +29.6% | +19.4% | −0.0% | −2.2% |
| Net income | -1.1 k | -35.4 m | -24.0 m | -20.8 m | 9.3 m | 8.9 m | -62.1 m | -80.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −4.3% | −797.8% | unavailable |
| Diluted EPS | unavailable | unavailable | -0.90 | -0.74 | 0.20 | 0.18 | -1.96 | -2.55 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −10.0% | −1,188.9% | unavailable |
| net % | unavailable | -6.4% | -2.7% | -1.7% | 0.6% | 0.5% | -3.3% | -4.4% |
| Free cash flow | unavailable | -8.2 m | -39.4 m | 22.6 m | 5.7 m | 46.0 m | 41.6 m | 23.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 18.6 m USD
- Financial debt
- 495.5 m USD
- Net debt
- 476.9 m USD
- Equity
- -8.8 m USD
- Total assets
- 1.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.43x
- ROE
- unavailable
- ROA
- -5.7%
- FCF margin
- 1.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 873.6 m | 1.2 bn | 1.6 bn | 1.9 bn | 1.9 bn | 1.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 659.1 m | 898.4 m | 1.2 bn | 1.4 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 214.5 m | 314.4 m | 419.6 m | 507.2 m | 493.7 m | 474.6 m | SEC (XBRL)· 26 Feb 2026verified |
| SG&A | — | — | 362.3 m | 430.3 m | 446.5 m | 422.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | -8.1 m | 18.0 m | 40.8 m | 54.4 m | 18.6 m | 23.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 75.0 m | 95.8 m | 112.0 m | 132.6 m | 144.5 m | 133.6 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 66.9 m ≈ | 113.8 m ≈ | 152.8 m ≈ | 187.0 m ≈ | 163.1 m ≈ | 156.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 23.8 m | 24.0 m | 31.8 m | 57.0 m | 81.3 m | 88.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | -30.6 m | -17.2 m | 10.6 m | 2.5 m | -66.3 m | -58.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | -6.6 m | 3.6 m | 1.3 m | -6.4 m | -4.2 m | 21.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | -24.0 m | -20.8 m | 9.3 m | 8.9 m | -62.1 m | -80.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | -0.90 | -0.74 | 0.20 | 0.18 | -1.96 | -2.55 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 26.6 m | 31.7 m | 32.3 m | 32.9 m | 33.2 m | 32.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | — | — | 0.11 | 0.23 | 0.23 | 0.11 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.2 m | 2.3 m | 2.7 m | 31.0 m | 13.4 m | 18.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Inventories | 229.0 m | 239.2 m | 399.7 m | 530.7 m | 535.9 m | 473.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 381.6 m | 448.6 m | 663.3 m | 838.0 m | 774.5 m | 710.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 311.9 m | 344.5 m | 377.8 m | 73.4 m | 81.6 m | 73.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 24.3 m | 41.9 m | 69.2 m | 76.7 m | 77.5 m | 77.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 26.3 m | 43.4 m | 60.7 m | 66.3 m | 54.7 m | 48.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 746.2 m | 982.6 m | 1.3 bn | 1.6 bn | 1.5 bn | 1.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 58.9 m | 73.5 m | 90.8 m | 97.0 m | 91.5 m | 77.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Short-term debt | 8.7 m | 2.6 m | 4.2 m | 7.7 m | 10.5 m | 11.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 135.0 m | 310.0 m | 311.2 m | 312.3 m | 480.0 m | 484.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 434.3 m | 322.2 m | 471.2 m | 635.1 m | 577.2 m | 495.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 589.3 m | 847.9 m | 1.2 bn | 1.4 bn | 1.4 bn | 1.3 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 156.9 m † | 134.7 m † | 139.8 m † | 149.7 m † | 77.6 m † | -8.8 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -35.0 m | 30.7 m | 18.5 m | 58.4 m | 57.0 m | 33.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 4.4 m | 8.1 m | 12.8 m | 12.4 m | 15.4 m | 9.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | -39.4 m ≈ | 22.6 m ≈ | 5.7 m ≈ | 46.0 m ≈ | 41.6 m ≈ | 23.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -227.9 m | -113.4 m | -155.1 m | -117.4 m | -56.2 m | -22.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 264.1 m | 83.8 m | 136.9 m | 87.3 m | -17.9 m | -5.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | — | 2.6 m | 3.0 m | 3.0 m | 3.0 m | 3.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | 5.9 m | — | — | — | 5.8 m | 7.5 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 53 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 225.1 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation96
- Returns80
- Quality0
- Balance sheet21
- Growth44
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.50 – 153.80 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)62.25 – 153.80 (Mid 90.31)WACC 6.4% · starting FCFF 121.1 m USD · terminal value share of EV 83%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA57.24 – 59.05 (Mid 58.87)4 companies used · median multiple 16.3x · quartiles 16.0x – 16.4xASLE, DSGR, MSM, WLFC
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)1.50 – 2.01 (Mid 1.72)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 53/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -4.4% | 0 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 5.3% | 44 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 3.2x | 22 (on a fixed band) | 16% |
| Interest coverage · Balance sheet | 0.2x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.4x | 49 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 4.8x | 93 (on a fixed band) | 16% |
| FCF yield · Valuation | 22.7% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 4.7% | 67 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 5.9% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet21/100 · 3/3 factors with a value
- Growth· partial44/100 · 1/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns80/100 · 2/2 factors with a value
- Valuation96/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ALTA EQUIPMENT GROUP INC. (ALTG). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.8 bn USD in 2025; YoY growth -2.2%; net margin -4.4%; ROE -2,085.7%; net debt/EBITDA 3.2x.
The estimated value range is 57.24–59.05 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 58.87 USD, the price of 6.89 USD leaves a potential of 754.5% (value / price − 1) and a margin of safety of 88.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 53/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, quality. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/EBITDA: 4.8x
- FCF yield: 22.7%
- Payout ratio (FCF): 5.9%
- The price is below the estimated value range
What contradicts it
- Net margin: -4.4%
- Net debt / EBITDA: 3.2x
- Interest coverage: 0.2x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, P/E (TTM).
Versus the vertical median
Wholesale — durable goods (SIC 508x) · same industry group (3-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AITApplied Industrial Technologies, Inc. | 10.9 bn | 26.4 | 22.5% | 8.4% | +8.8% | +15% / +86% |
| MSMMsc Industrial Direct Co., Inc. | 6.5 bn | 29.2 | 15.8% | 5.6% | +6.4% | +30% / +19% |
| DXPEDXP Enterprises, Inc. | 2.5 bn | 27.9 | 18.5% | 4.4% | +11.9% | +69% / +441% |
| GICGlobal Industrial Co | 1.8 bn | 19.8 | 27.6% | 6.3% | +4.8% | +66% / +34% |
| DSGRDistribution Solutions Group, Inc. | 1.6 bn | 180.0 | 1.4% | 0.4% | +9.8% | +26% / +38% |
| WLFCWillis Lease Finance Corp | 1.0 bn | 12.7 | 11.5% | 9.6% | +28.3% | +16% / +213% |
| ASLEAerSale Corporation | 237.2 m | — | -0.9% | -1.2% | −2.8% | −23% / −64% |
| ALTGAlta Equipment Group Inc. | 225.1 m | — | -2,085.7% | -4.4% | −2.2% | +17% / −33% |
| HDSNHudson Technologies Inc | 185.6 m | 21.4 | 3.6% | 3.5% | +4.0% | −35% / −64% |
| TLIHTen-League International Holdings Limited | 167.1 m | 37.9 | 49.6% | 7.3% | +38.4% | +59% / unavailable |
1- and 3-year price returns: for ALTG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Alta Equipment Group is an integrated equipment dealer in North America that sells, rents and services material handling, construction and environmental processing equipment. In the second quarter of 2026 total revenues were 475.5 million USD and the company reported signs of demand recovery, while its 2026 Adjusted EBITDA guidance remains between 167.5 and 177.5 million USD 3.
SWOT
Strengths
- The integrated dealership model with exclusive territorial distribution produces recurring parts and service revenue 1.
- Long-standing relationships with major manufacturers and recognised dealer status are hard to replicate 1.
- The company has experience in acquiring and integrating dealerships, with a steady pipeline of opportunities 1.
Weaknesses
Opportunities
- A recovery in infrastructure, manufacturing and energy projects could support demand for the company's equipment 3.
- The shift to electric vehicles creates new revenue from batteries, chargers and software-driven service 1.
- Dealership acquisitions and expansion into master distribution could add territories and revenue 1.
Risks
- Dependence on construction and industrial demandhigh
A decline in construction, material handling or environmental processing activity could reduce demand, rental rates and sale prices 1.
- Dependence on a few manufacturershigh
Termination of a key manufacturer relationship could seriously affect activity, and some agreements can be terminated unilaterally 1.
- Financing costs and debtmedium
Interest expense remains significant and could limit the company's ability to service debt or grow 3.
- Market value of the rental fleetmedium
Used and rental equipment may be worth less than book value, which could affect liquidity and borrowing bases 1.
- IT system securitylow
Cyber attacks or disruption of the ERP system could affect operations and customer data 1.
Investment thesis
What would need to be true (bull case)
- If orders keep rising, material handling and service results could improve further and Adjusted EBITDA could reach the upper end of guidance 3.
- Margins in service and Master Distribution sales are improving, supporting profitability even when revenue is below last year's level 3.
- The dealership model with recurring parts and service revenue could cushion economic cycles better than many peers 1.
What would break the thesis
- If construction demand stays weak or tariffs rise again, revenue and margins could fall and guidance could be missed 1.
- The net loss and high interest costs leave little room for error if the recovery is delayed 3.
- Dependence on key manufacturers and on the used equipment market could expose the company to unexpected shocks 1.
What to watch
- Trend in material handling bookings and Adjusted EBITDA resultsQ3 2026
- Confirmation or revision of 2026 Adjusted EBITDA guidance2026
- Margin trends in Master Distribution sales and serviceQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Alta operates a network of over 80 branches in the US and Canada and has 42 years of experience as an equipment dealer 2. The company sells new and used equipment, parts, repair and maintenance services, and rents and sells its rental fleet 1. Its model rests on exclusive territorial distribution, and parts and service, considered its most predictable and profitable activities, form an important part of revenue 1.
The company works with major manufacturers such as Hyster-Yale, Volvo, JCB, CNH, Takeuchi, McCloskey and Kubota, plus master dealer rights for environmental processing equipment with Doppstadt and Backers 1. About 49% of equipment and parts sold in 2025 came from five major OEMs 1. Its strategy includes dealership acquisitions, populating territories with equipment and growing aftermarket revenue 1.
Segments
Parts and service
Parts and service are described as the company's most predictable and profitable businesses 1. The service gross profit percentage reached 61.4% in the second quarter of 2026 3. Product support was broadly flat in 2025, while the shift to electric vehicles moves revenue toward labour-intensive diagnostic service work 1.
Material handling and construction
The company serves customers in food and beverage, logistics, manufacturing, municipal and construction markets, and demand in material handling is recovering after a year of normalisation 13. Bookings rose 12.3% year to date in Alta's markets, suggesting customer investment is restarting 3.
Market context
The North American construction equipment market was weak in 2025 because of interest rates, tariff uncertainty and excess dealer inventory, although public infrastructure spending supported demand 1. Signs of stabilisation at the end of 2025 and data for 2026 point to a gradual recovery in activity 13.
The lift truck market entered 2025 in a normalisation phase after the overstretched 2021-2022 period, and bookings softened 1. Companies expect bookings to strengthen in the second half of 2026 if excess channel inventory is absorbed 1.
Trends
- Recovery in material handling orderstailwind
Rising orders and equipment volumes suggest customer investment and fleet replacement are restarting, which could support revenue if the trend continues 3.
- Lower interest expensetailwind
Financing costs fell in the second quarter of 2026, which helps profitability, especially if rates remain stable 3.
- Tariff uncertainty and material costsheadwind
Tariffs raised material costs and delayed purchasing decisions, and a change in trade policy could revive these pressures 1.
- Smaller and optimised rental fleetmixed
Reducing the rental fleet improved earnings quality but also lowered rental revenue, which declined in the first half of 2026 13.
Competitive position
The equipment dealership and rental industry is highly competitive and fragmented, with national, regional and small independent players 1. Some competitors have greater financial and marketing resources and may cut prices, which could weigh on the company's margins 1.
Alta differentiates itself through an integrated sales, service and rental platform that gives it an advantage over single-channel dealers and traditional rental houses 1. Its public listing is seen as an advantage when sourcing acquisitions 1.
- Regional and national equipment dealers
Fragmented rivals ranging from multi-regional networks to independent firms, some with greater resources 1.
- Equipment rental companies
Compete in the rental segment and can reduce rates in the market 1.
- OEMs selling direct
Some manufacturers may appoint additional dealers or sell directly to national accounts, which could reduce the company's share 1.
- Independent service providers
Compete for technicians and repair work in the company's markets 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
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SEC filings
- Current report02 Oct 2026Other events · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Departure or appointment of officers · Financial statements and exhibits
- Current report02 Jul 2026Other events · Financial statements and exhibits
- Current report29 May 2026Shareholder vote
- Quarterly report07 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Proxy statement15 Apr 2026
- Current report03 Apr 2026Other events · Financial statements and exhibits
- Annual report26 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Alta Equipment Group, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Alta Equipment Group, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Alta Equipment Group, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.