Alta Equipment Tightens 2026 Adjusted EBITDA Range
The equipment dealer now expects full-year Adjusted EBITDA of $167.5 million to $177.5 million after second-quarter Adjusted EBITDA of $48.6 million.
Alta Equipment Group Inc. (ALTG) said it now expects Adjusted EBITDA of $167.5 million to $177.5 million for fiscal 2026, tightening the range after a second quarter in which the measure held nearly even with a year earlier.
The North American equipment dealer reported Adjusted EBITDA of $48.6 million for the three months ended June 30, 2026, up $0.1 million from $48.5 million a year earlier. That was a $20.5 million sequential increase from the first quarter, when Adjusted EBITDA had fallen $5.5 million year over year to $28.1 million. Chief Executive Officer Ryan Greenawalt said the second-quarter result reflected a significant improvement from the seasonally impacted first quarter.
Total revenues were $475.5 million, down $5.7 million, or 1.2%, from $481.2 million a year earlier. Organic revenues declined $1.1 million, or 0.2%, after a 2.1% organic drop in the first quarter. Sequentially, total revenues rose $65.0 million from the first quarter, with all three segments reporting increases.
Construction Equipment was the largest sequential contributor. Segment revenue increased $53.7 million from the first quarter. Organic Construction Equipment revenues were $298.0 million, down $2.1 million, or 0.7%, from a year earlier. Material Handling organic revenues were $155.5 million, down $1.2 million, or 0.8%. Greenawalt said Construction Equipment continued to benefit from improving market activity and stronger new and used equipment margins.
Gross profit rose $1.9 million year over year to $124.2 million, or 1.6%. New and used equipment sales gross profit margin increased 130 basis points year over year. Master Distribution equipment sales gross profit margin increased 760 basis points. Service gross profit percentage rose 160 basis points year over year to 61.4%, after a 10 basis point year-over-year increase to 60.2% in the first quarter.
Rental revenues were $44.9 million, down $1.4 million from $46.3 million a year earlier. Sequentially, rental revenues increased $6.3 million, or 16.3%, from the first quarter. Rental equipment sales were $29.1 million. The rental fleet’s gross book value decreased $50.3 million year over year to $519.2 million. Greenawalt said the company further optimized the rental fleet during the quarter.
Income from operations was $12.0 million. Interest expense decreased $2.8 million year over year to $19.5 million. The company recorded a $0.7 million loss on divestitures in the quarter. Net loss available to common stockholders was $8.2 million, or $0.25 a share, compared with $6.8 million, or $0.21 a share, a year earlier. Adjusted basic and diluted pretax net loss per share was $0.04, an improvement of $0.19 a share versus the prior year.
Greenawalt said Material Handling bookings had increased 12.3% year to date in the company’s markets, supporting his view that customer investment and fleet replenishment activity was recovering. He said Master Distribution performance improved meaningfully as tariff-related disruptions eased and end-market conditions stabilized, contributing to stronger revenues, gross profit, and Adjusted EBITDA for that segment.
Cash was $20.9 million at June 30, 2026. Adjusted total net debt and floor plan payables were $810.6 million. Inventories, net, were $456.0 million. For the six months ended June 30, 2026, net cash provided by operating activities was $26.1 million.
The company said it remains encouraged by improving booking trends, growing backlog levels, and long-term fundamentals including infrastructure investment, domestic manufacturing expansion, and energy-related development projects. It said it believes Alta is well positioned to convert improving demand into profitable growth while prioritizing cash generation, leverage reduction, and long-term shareholder value creation.