$ALTG
ALTA EQUIPMENT GROUP INC.

2024 Q3 Form 10-Q Financial Statement

#000095017024092871 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $448.8M $488.1M
YoY Change -3.73% 4.21%
Cost Of Revenue $324.2M $356.1M
YoY Change -4.68% 4.24%
Gross Profit $124.6M $132.0M
YoY Change -1.19% 4.1%
Gross Profit Margin 27.76% 27.04%
Selling, General & Admin $110.6M $114.5M
YoY Change 3.56% 8.84%
% of Gross Profit 88.76% 86.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.80M $38.00M
YoY Change 8.0% 15.15%
% of Gross Profit 30.34% 28.79%
Operating Expenses $117.8M $121.7M
YoY Change 4.99% 10.04%
Operating Profit $6.800M $10.30M
YoY Change -51.08% -36.42%
Interest Expense $22.60M $19.20M
YoY Change 48.68% 40.15%
% of Operating Profit 332.35% 186.41%
Other Income/Expense, Net -$22.90M -$24.90M
YoY Change 65.94% 84.44%
Pretax Income -$16.10M -$14.60M
YoY Change -16200.0% -640.74%
Income Tax $11.60M -$2.700M
% Of Pretax Income
Net Earnings -$27.70M -$11.90M
YoY Change -474.32% -595.83%
Net Earnings / Revenue -6.17% -2.44%
Basic Earnings Per Share -$0.86 -$0.38
Diluted Earnings Per Share -$0.86 -$0.38
COMMON SHARES
Basic Shares Outstanding 33.09M 33.15M
Diluted Shares Outstanding 33.21M 33.24M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.60M $4.500M
YoY Change 942.86% 95.65%
Cash & Equivalents $14.60M $4.500M
Short-Term Investments
Other Short-Term Assets $29.20M $32.20M
YoY Change -5.81% -0.92%
Inventory $565.2M $547.3M
Prepaid Expenses
Receivables $217.4M $251.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $826.4M $835.9M
YoY Change 5.37% 10.06%
LONG-TERM ASSETS
Property, Plant & Equipment $85.00M $485.4M
YoY Change -81.01% 13.97%
Goodwill $81.10M $78.10M
YoY Change 14.06% 10.94%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.400M $20.60M
YoY Change -74.12% 123.91%
Total Long-Term Assets $722.7M $755.4M
YoY Change 3.82% 12.63%
TOTAL ASSETS
Total Short-Term Assets $826.4M $835.9M
Total Long-Term Assets $722.7M $755.4M
Total Assets $1.549B $1.591B
YoY Change 4.64% 11.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $93.70M $93.80M
YoY Change 4.58% 18.58%
Accrued Expenses $65.10M $52.50M
YoY Change 21.91% 1.94%
Deferred Revenue
YoY Change
Short-Term Debt $395.9M $398.3M
YoY Change 8.61% 14.45%
Long-Term Debt Due $10.10M $9.400M
YoY Change 53.03% 70.91%
Total Short-Term Liabilities $612.3M $610.4M
YoY Change 7.46% 12.77%
LONG-TERM LIABILITIES
Long-Term Debt $478.7M $477.4M
YoY Change 53.43% 53.21%
Other Long-Term Liabilities $13.90M $13.80M
YoY Change 21.93% 12.2%
Total Long-Term Liabilities $492.6M $491.2M
YoY Change 52.32% 51.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $612.3M $610.4M
Total Long-Term Liabilities $492.6M $491.2M
Total Liabilities $1.453B $1.466B
YoY Change 9.04% 13.76%
SHAREHOLDERS EQUITY
Retained Earnings -$136.0M -$105.6M
YoY Change 89.42% 38.04%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.900M $7.900M
YoY Change 33.9% 33.9%
Treasury Stock Shares
Shareholders Equity $95.70M $125.2M
YoY Change
Total Liabilities & Shareholders Equity $1.549B $1.591B
YoY Change 4.64% 11.26%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$27.70M -$11.90M
YoY Change -474.32% -595.83%
Depreciation, Depletion And Amortization $37.80M $38.00M
YoY Change 8.0% 15.15%
Cash From Operating Activities $43.10M -$9.100M
YoY Change 199.31% -33.58%
INVESTING ACTIVITIES
Capital Expenditures $19.20M $20.50M
YoY Change -3.52% -7.66%
Acquisitions
YoY Change
Other Investing Activities $8.600M $1.200M
YoY Change -8700.0% 140.0%
Cash From Investing Activities -$10.60M -$19.30M
YoY Change -47.0% -11.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.40M 27.50M
YoY Change -646.34% -24.03%
NET CHANGE
Cash From Operating Activities 43.10M -9.100M
Cash From Investing Activities -10.60M -19.30M
Cash From Financing Activities -22.40M 27.50M
Net Change In Cash 10.10M -900.0K
YoY Change -773.33% -212.5%
FREE CASH FLOW
Cash From Operating Activities $43.10M -$9.100M
Capital Expenditures $19.20M $20.50M
Free Cash Flow $23.90M -$29.60M
YoY Change -534.55% -17.55%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2023Q1 us-gaap Dividends Common Stock Stock
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CY2023Q1 us-gaap Stockholders Equity
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CY2023Q2 us-gaap Profit Loss
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CY2023Q2 us-gaap Dividends Preferred Stock Stock
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CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q2 us-gaap Dividends Common Stock Stock
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CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
3400000
altg Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountAndIssuanceCost
72000000
altg Depreciation And Amortization Excluding Amortization Of Debt Discount And Issuance Cost
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61100000
us-gaap Amortization Of Financing Costs And Discounts
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1100000
us-gaap Amortization Of Financing Costs And Discounts
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800000
altg Imputed Interest
ImputedInterest
200000
altg Imputed Interest
ImputedInterest
500000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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altg Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
17400000
altg Gain Loss On Sale Of Rental Equipment
GainLossOnSaleOfRentalEquipment
16700000
altg Provision For Inventory Obsolescence
ProvisionForInventoryObsolescence
500000
altg Provision For Inventory Obsolescence
ProvisionForInventoryObsolescence
1200000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3500000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3400000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
200000
us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
1900000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
200600000
altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
66300000
altg Proceeds From Sale Of Rental Equipment
ProceedsFromSaleOfRentalEquipment
62200000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7600000
altg Increase Decrease In Manufacturers Floor Plans Payable
IncreaseDecreaseInManufacturersFloorPlansPayable
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altg Increase Decrease In Manufacturers Floor Plans Payable
IncreaseDecreaseInManufacturersFloorPlansPayable
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altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
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altg Increase Decrease In Accounts Payable Accrued Expenses Customer Deposits And Other Current
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-27700000
altg Increase Decrease In Leases Net Of Current Portion And Other Liabilities
IncreaseDecreaseInLeasesNetOfCurrentPortionAndOtherLiabilities
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altg Increase Decrease In Leases Net Of Current Portion And Other Liabilities
IncreaseDecreaseInLeasesNetOfCurrentPortionAndOtherLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
30600000
altg Payments To Expenditures For Rental Equipment
PaymentsToExpendituresForRentalEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7200000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1900000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
700000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1400000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1500000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1500000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
319400000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
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us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
203500000
altg Principal Payments On Lines Of Credit Long Term Debt And Finance Lease Obligations
PrincipalPaymentsOnLinesOfCreditLongTermDebtAndFinanceLeaseObligations
476200000
altg Principal Payments On Lines Of Credit Long Term Debt And Finance Lease Obligations
PrincipalPaymentsOnLinesOfCreditLongTermDebtAndFinanceLeaseObligations
133500000
altg Proceeds From Non Manufacturer Floor Plan Payable
ProceedsFromNonManufacturerFloorPlanPayable
79500000
altg Proceeds From Non Manufacturer Floor Plan Payable
ProceedsFromNonManufacturerFloorPlanPayable
103500000
altg Payments On Non Manufacturer Floor Plan Payable
PaymentsOnNonManufacturerFloorPlanPayable
82800000
altg Payments On Non Manufacturer Floor Plan Payable
PaymentsOnNonManufacturerFloorPlanPayable
98500000
us-gaap Payments Of Dividends
PaymentsOfDividends
1500000
us-gaap Payments Of Dividends
PaymentsOfDividends
1500000
altg Common Stock Dividends Paid And Declared
CommonStockDividendsPaidAndDeclared
3900000
altg Common Stock Dividends Paid And Declared
CommonStockDividendsPaidAndDeclared
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4300000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32100000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
74100000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-200000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31000000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2700000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4500000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2300000
altg Net Transfer Of Assets From Inventory To Rental Fleet Within Property And Equipment
NetTransferOfAssetsFromInventoryToRentalFleetWithinPropertyAndEquipment
83000000
altg Net Transfer Of Assets From Inventory To Rental Fleet Within Property And Equipment
NetTransferOfAssetsFromInventoryToRentalFleetWithinPropertyAndEquipment
96400000
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
500000
us-gaap Interest Paid Net
InterestPaidNet
32500000
us-gaap Interest Paid Net
InterestPaidNet
24100000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1300000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1300000
us-gaap Nature Of Operations
NatureOfOperations
<p id="note_1_organization_nature_operations" style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">NOTE 1 — ORGANIZATION A</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ND NATURE OF OPERATIONS</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Nature of Operations</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Alta Equipment Group Inc. and its subsidiaries (“Alta” or the “Company”) is engaged in the sale, service, and rental of material handling, construction, and environmental processing equipment in the states of Michigan, Illinois, Indiana, Ohio, Pennsylvania, New York, Virginia, Massachusetts, Maine, New Hampshire, Vermont, Rhode Island, Connecticut, Nevada, and Florida as well as the Canadian provinces of Quebec and Ontario. Unless the context otherwise requires, the use of the terms “the Company”, “we”, “us,” and “our” in these notes to the unaudited condensed consolidated financial statements refers to Alta Equipment Group Inc. and its consolidated subsidiaries.</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Basis of Presentation</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The accompanying unaudited interim condensed consolidated financial statements include the consolidated accounts of the Company and its subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In our opinion, all adjustments, consisting of all normal and recurring adjustments, considered necessary for a fair presentation of our financial position, results of operations and cash flows for the periods presented have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Form 10-K. All intercompany transactions and balances have been eliminated in the preparation of the condensed consolidated financial statements.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are based on assumptions that we believe are reasonable under the circumstances. Due to the inherent uncertainty involved with estimates, actual results may differ.</span></p>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
488100000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
468400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
929700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
889100000
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5500000
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5700000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
11000000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
12000000
CY2024Q2 altg Contract With Customer Assets
ContractWithCustomerAssets
4900000
CY2023Q4 altg Contract With Customer Assets
ContractWithCustomerAssets
4500000
CY2024Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
2200000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
10300000
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3800000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
11300000
CY2024Q2 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
390600000
CY2023Q4 altg Inventory New Equipment Gross
InventoryNewEquipmentGross
373600000
CY2024Q2 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
52900000
CY2023Q4 altg Inventory Used Equipment Gross
InventoryUsedEquipmentGross
54600000
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
8300000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
8200000
CY2024Q2 altg Inventory Parts Gross
InventoryPartsGross
103700000
CY2023Q4 altg Inventory Parts Gross
InventoryPartsGross
101900000
CY2024Q2 us-gaap Inventory Gross
InventoryGross
555500000
CY2023Q4 us-gaap Inventory Gross
InventoryGross
538300000
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
8200000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
7600000
CY2024Q2 us-gaap Inventory Net
InventoryNet
547300000
CY2023Q4 us-gaap Inventory Net
InventoryNet
530700000
CY2024Q2 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
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CY2023Q4 altg Capitalized Direct Labor Expense Included In Work In Process
CapitalizedDirectLaborExpenseIncludedInWorkInProcess
1200000
CY2024Q2 altg Rental Depreciation Expense
RentalDepreciationExpense
4000000
CY2023Q2 altg Rental Depreciation Expense
RentalDepreciationExpense
3100000
altg Rental Depreciation Expense
RentalDepreciationExpense
7100000
altg Rental Depreciation Expense
RentalDepreciationExpense
5600000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
744700000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
712600000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
259300000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
247800000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
485400000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
464800000
CY2023Q4 us-gaap Goodwill
Goodwill
76700000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-1500000
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-100000
CY2024Q2 us-gaap Goodwill
Goodwill
78100000
CY2024Q2 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P6Y7M6D
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
88300000
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
27100000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
61200000
CY2023Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P7Y
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
88200000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21900000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
66300000
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2600000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4400000
us-gaap Debt Instrument Description
DebtInstrumentDescription
On June 5, 2024, the Company completed a private offering of Senior Secured Second Lien Notes (the “Notes”), for the purposes of, among other things, repayment and refinancing of a portion of the Company’s prior existing debt, reducing variable interest rate exposure, providing liquidity for general corporate purposes, and for financing of future growth initiatives.
CY2024Q2 us-gaap Gains Losses On Extinguishment Of Debt
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CY2024Q2 us-gaap Line Of Credit
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CY2023Q4 us-gaap Line Of Credit
LineOfCredit
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CY2024Q2 us-gaap Secured Long Term Debt
SecuredLongTermDebt
500000000
CY2023Q4 us-gaap Secured Long Term Debt
SecuredLongTermDebt
315000000
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
4900000
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2200000
CY2024Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
21100000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2100000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
45100000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2024Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
736700000
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
667000000
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
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CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
7700000
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
727300000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
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altg Operating Lease With Related Party
OperatingLeaseWithRelatedParty
1
CY2024Q2 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
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CY2023Q4 altg Finance Lease Assets Net Of Accumulated Depreciation
FinanceLeaseAssetsNetOfAccumulatedDepreciation
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CY2024Q2 us-gaap Operating Lease Cost
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6400000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6500000
us-gaap Operating Lease Cost
OperatingLeaseCost
13200000
us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1500000
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1200000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3900000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2900000
CY2024Q2 altg Low Value Lease Expense
LowValueLeaseExpense
400000
CY2023Q2 altg Low Value Lease Expense
LowValueLeaseExpense
200000
altg Low Value Lease Expense
LowValueLeaseExpense
700000
altg Low Value Lease Expense
LowValueLeaseExpense
500000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2600000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2100000
us-gaap Variable Lease Cost
VariableLeaseCost
5300000
us-gaap Variable Lease Cost
VariableLeaseCost
4200000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2500000
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1400000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4800000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2700000
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
900000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
600000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1800000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1100000
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
100000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
100000
us-gaap Sublease Income
SubleaseIncome
200000
us-gaap Sublease Income
SubleaseIncome
100000
CY2024Q2 us-gaap Lease Cost
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14200000
CY2023Q2 us-gaap Lease Cost
LeaseCost
11900000
us-gaap Lease Cost
LeaseCost
29500000
us-gaap Lease Cost
LeaseCost
24700000
us-gaap Operating Lease Payments
OperatingLeasePayments
13100000
us-gaap Operating Lease Payments
OperatingLeasePayments
12900000
altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
1800000
altg Operating Cash Flows For Financing Leases
OperatingCashFlowsForFinancingLeases
1100000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4300000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2400000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7500000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3400000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
10400000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9700000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y1M6D
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P4Y7M6D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P4Y7M6D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.103
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.102
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.083
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.081
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13100000
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
6300000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23600000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
12500000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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20500000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
11800000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
19100000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
10100000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17300000
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
8100000
CY2024Q2 altg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
85800000
CY2024Q2 altg Finance Lease Liability Payments Due In Rolling After Year Four
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFour
5000000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
179400000
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
53800000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
64200000
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
8700000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
115200000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
45100000
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
9400000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
7700000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15500000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15900000
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
35700000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
31100000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
99700000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
99600000
CY2024Q2 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
160300000
CY2023Q4 altg Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
154300000
CY2024Q2 altg Accrued Guarantees
AccruedGuarantees
0
CY2023Q4 altg Accrued Guarantees
AccruedGuarantees
0
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2700000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.105
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
488100000
CY2024Q2 us-gaap Interest Expense
InterestExpense
19200000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38000000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-14600000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
468400000
CY2023Q2 us-gaap Interest Expense
InterestExpense
13700000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33000000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
929700000
us-gaap Interest Expense
InterestExpense
35300000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
72000000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-30700000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
889100000
us-gaap Interest Expense
InterestExpense
25700000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61100000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3800000
CY2024Q2 us-gaap Assets
Assets
1591300000
CY2023Q4 us-gaap Assets
Assets
1570900000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12600000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1700000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25300000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1900000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33239620
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32368112
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33174158
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32296067
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12600000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1700000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1900000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33239620
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32368112
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33174158
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32296067
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
363310
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
285402
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33239620
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32731422
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33174158
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32581469
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
796000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
979000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q2 altg Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q2 altg Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false

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