Alta Equipment Group Inc (ALTG) released its first quarter results on Thursday, May 13, 2021. The company reported net earnings of $-0.19 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 79 percent compared to the same period a year ago.
Alta Equipment Group Inc. was founded in 1984 and is based in Livonia, Michigan. Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States. It operates in two segments, Material Handling and Construction Equipment.
Alta Equipment Group's revenue increased 433 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 32.25% for the first quarter compared to the same period in the previous year, and operating margins increased to 0.15% over the same period. Net earnings for past trailing twelve months were $-12.7 million, up 25% from the prior year.
Moving on to the balance sheet, Alta Equipment Group's cash levels dropped 98% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 12.3% this past year. The current ratio for Alta Equipment Group now stands at 0.87. The company increased shares outstanding by 1.72%.
Shares of ALTG are currently trading around $15.00. In terms of valuation, the stock is trading at a price to book ratio of 3.01.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Saturday, May 15, 2021.