Equipment distribution company Alta Equipment Group (NYSE:ALTG) will be announcing earnings results tomorrow afternoon. Here’s what to look for.
Alta missed analysts’ revenue expectations by 6% last quarter, reporting revenues of $448.8 million, down 3.7% year on year. It was a disappointing quarter for the company, with and a significant miss of analysts’ adjusted operating income estimates.
Is Alta a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Alta’s revenue to decline 7.8% year on year to $481 million, a reversal from the 21.7% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.24 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Alta has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Alta’s peers in the specialty equipment distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. United Rentals delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 3.9%, and SiteOne reported revenues up 5%, topping estimates by 1.3%. United Rentals traded up 2% following the results while SiteOne was also up 5.9%.
Read our full analysis of United Rentals’s results here and SiteOne’s results here.
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