
Alta Equipment revenues grew 26.8 percent in the first year compared to the same period in 2022. Revenue topped $420 million. Sales of new and used equipment grew 44.9 percent in the quarter to $219.6 million, up from $151.6 million in Q1 2022.
Revenue from product support grew 26.6 percent in the quarter, recording parts sales of $68.4 million (up 28 percent) and service revenue of $60.2 million (up 25 percent).
“Supply chain headwinds continued to abate during the first quarter as our product inventory increased to a more normalized level, and we were able to deliver more machines to customers as evidenced by the increase in new equipment sales,” said CEO Ryan Greenawalt, in a statement.
“We are encouraged by the increase in product availability from our manufacturing partners,” he said. “Backlogs remain high, and we are not experiencing order cancellations from our customers.”
Gross profit for the quarter was $121.3 million, up 32.7 percent over Q1 2022.
Source: Alta Equipment
About the Author
Rod Sutton
Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001.
Our mission is to help managers of heavy equipment and trucks to improve their performance in acquiring and managing their fleets. One way we do that is with our Executive Institute, where experts share information and ideas that will enable equipment managers to accurately manage equipment costs so that they can deliver the optimum financial benefits to their organizations.
We also have a laser focus on product development, performance, and technology; as well as equipment acquisition, disposal, and maintenance. Our exclusive Field Tests take earthmoving equipment and truck into the field for professional evaluations.
Check out our free newsletters to see the latest content.
You can find Sutton on LinkedIn.