Equipment distribution company Alta Equipment Group (NYSE:ALTG) will be reporting earnings this Thursday after the bell. Here’s what to expect.
Alta missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $423 million, down 4.2% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ EPS 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 2% year on year to $478.3 million, a reversal from the 4.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.21 per share.
The majority of analysts covering the company have 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 four times over the last two years.
Looking at Alta’s peers in the specialty equipment distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hudson Technologies’s revenues decreased 3.2% year on year, beating analysts’ expectations by 1.7%, and Custom Truck One Source reported revenues up 20.9%, topping estimates by 9.6%. Hudson Technologies traded up 12.9% following the results while Custom Truck One Source was also up 9%.
Read our full analysis of Hudson Technologies’s results here and Custom Truck One Source’s results here.
There has been positive sentiment among investors in the specialty equipment distributors segment, with share prices up 2.1% on average over the last month. Alta is down 1.6% during the same time and is heading into earnings with an average analyst price target of $10.46 (compared to the current share price of $7.29).
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