Alta Equipment Group Reports 3% Revenue Decline and Net Loss in Q1 2026

Alta Equipment Group Inc. reported a decline in financial performance for the first quarter of 2026, with total revenues of $410.5 million, down 3.0% from $423.0 million in the same period of 2025. The decrease was attributed to lower sales in new and used equipment, which fell by 6.7% to $206.9 million, and a 8.7% drop in rental revenues to $38.6 million. Despite these declines, rental equipment sales saw a significant increase of 44.5%, reaching $30.2 million, compared to $20.9 million in the prior year. The company reported a net loss of $19.5 million, slightly improved from a loss of $20.9 million in the previous year, resulting in a basic loss per share of $0.62.

In terms of operational metrics, Alta's gross profit decreased to $109.3 million, down from $115.0 million, reflecting a gross profit margin of 26.6%, a decline of 60 basis points year-over-year. The company’s selling, general, and administrative expenses rose to $108.2 million, up from $106.7 million, contributing to an operating loss of $5.7 million compared to an income of $0.8 million in the same quarter last year. The company also reported a decrease in Adjusted EBITDA, which fell to $28.1 million from $33.6 million, indicating a 16.4% decline.

Strategically, Alta Equipment Group has been focusing on optimizing its rental fleet and managing inventory levels. The company successfully divested its battery shop business in New England for $1.5 million, resulting in a gain of $0.2 million. This divestiture aligns with the company's strategy to streamline operations and focus on core business areas. The company continues to maintain a strong presence in its operating segments, which include Material Handling, Construction Equipment, and Master Distribution, with a total of 80 locations across the U.S. and Canada.

As of March 31, 2026, Alta Equipment Group reported total assets of $1.334 billion, with cash reserves increasing to $23.9 million from $18.6 million at the end of 2025. The company’s liabilities also rose to $1.362 billion, primarily due to increased floor plan payables. The company’s employee headcount remains stable, supporting its operational capabilities. Looking ahead, Alta Equipment Group anticipates continued challenges in the market, particularly related to equipment sales and rental revenues, but remains committed to leveraging its existing customer base and exploring strategic acquisitions to drive future growth.