Alta Equipment Group Inc Up 17. 9% To $13. 37 After Earnings Beat – InvestorsObserver

Alta Equipment Team Inc ( ALTG ) said after close Tuesday that it earned $0. 21 per share in quarter two 2022. The company reported earnings on an adjusted basis, so this may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company documented $406. 5 million, beating estimates by $54. 6 million.

In the same quarter a year ago, the company lost $0. 12 for each share on revenue of $292. 7 million.

The stock is up 17. 9% to $13. 37 right after the report.

The firm’s lower income growth to earnings signals that the particular firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating associated with Strong Buy on the stock prior to the particular report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior in order to the report, InvestorsObserver gave the stock an general score of 48. Meanwhile, the average Wall Street expert rated the particular stock a Strong Purchase.

Alta Equipment Group Inc is an integrated equipment dealership platform in the U. S. Its segments are Material Handling and Construction Equipment. The particular Material Dealing with segment is engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana, New York, Virginia, and throughout the New England states whereas, the Building Equipment segment is principally involved in procedures associated with the particular sale, service, and rental of construction equipment inside Michigan, Indiana, Illinois, Ohio, New York, Florida and throughout the Brand new England States.