Alta Equipment Group Inc. · NYSE:ALTG
Alta Equipment — Q4 2025 Earnings Presentation
42 slides from Alta Equipment's earnings presentation, Feb 26, 2026
Slide 1: Earnings Presentation Fourth Quarter 2025
EARNINGS PRESENTATION FOURTH QUARTER 2025 February 26, 2026
Slide 2: Legal Disclaimers
LEGAL DISCLAIMERS Forward-Looking Information This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alta’s actual results may differ from their expectations, estimates and projections and co
Slide 3: Agenda & Introduction
AGENDA & INTRODUCTION Agenda CEO Overview Q4 2025 Results INTRODUCTION 2025 Results Executive Officers: Business Conditions Ryan Greenawalt, CEO Regional Markets & Tony Colucci, CFO Strategy and Execution Strategic Vision: 2028+ CFO Overview Q4 2025 Quarterly Financial Analysis FY 20
Slide 4: CEO Overview
CEO OVERVIEW Ryan Greenawalt 4 Earnings Presentation | Fourth Quarter and Year Ended 2025 | February 26, 2026
Slide 5: Q4 2025 Results
CEO OVERVIEW Q4 2025 Revenue Of $509.1 million, an increase of $11.0 million from Q4 2024 primarily from revenue streams involving the sale of new, used, and previously rented equipment Q4 2025 Construction And Material Handling Segment Revenue Of $328.6 million and $167.8 million, representing an i
Slide 6: 2025 Results
CEO OVERVIEW Revenue Reduced by $40.7 million to $1,835.9 million compared to $1,876.6 million in 2024 2025 Results: Construction and Material Handling Revenue Decreased to $1,116.7 million, or 1.3%, and to $654.3 million, or 4.8%, respectively Uncertain macroeconomic environment, driven by tariffs,
Slide 7: Business Conditions
CEO OVERVIEW Business Solid Industry Fundamentals 1Industrial Spending forecast remains high; $586 billion in 2026 2Infrastructure starts forecast to grow from $369 billion in 2026 to $590 billion in 2030 Conditions: 3Federal infrastructure spending (IIJA $350 billion) forecast to remain stron
Slide 8: Regional Markets
CEO OVERVIEW CE Industry Volumes v. DOT Budgets $35.0 6,500 $30.0 6,000 Regional $25.0 $20.0 5,500 5,000 Markets: $15.0 $10.0 4,500 4,000 $5.0 3,500 CE industry unit volumes $- 3,000 have declined from norms 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 2024-2025 2025-2026 in the face of rising
Slide 9: Strategy and Execution
CEO OVERVIEW Strategic Value-Creation Proven acquisition and integration track record; closing 17 acquisitions adding $543 million in total revenue and $66 million in EBITDA at accretive multiples (since IPO in 2020) Increased locations from 43 to 85 throughout Michigan, Indiana, Ohio, Illinois,
Slide 10: Strategic Vision: 2028+
CEO OVERVIEW Strategic Vision: 2028+ 1 Sales Transformation >$200MM Adjusted Right Products / Right People / EBITDA Right Customers Market Volume 5-7% CAGR Product Normalization >$1.4B Equipment Sales Support Revenue With Share Gains in Key GEOs Peaklogix and Positive Adjusted Pre- Ecoverse >35% Fin
Slide 11: CFO Overview
CFO OVERVIEW Tony Colucci 11 Earnings Presentation | Fourth Quarter and Year Ended 2025 | February 26, 2026
Slide 12: Q4 2025 Quarterly Financial Analysis
CFO OVERVIEW Q4 2025 Quarterly Financial Analysis Total Company Increase Three Months Ended December 31, (Decrease) Total Company 2025 2024 2025 versus 2024 • Total revenue increased $11.0MM, or 2.2%, from $498.1MM to $509.1MM Revenues: • Product support revenue of $127.4MM for Q4 2025 versus $126.9
Slide 13: Q4 2025 Quarterly Financial Analysis: Material Handling Segment
CFO OVERVIEW Q4 2025 Quarterly Financial Analysis Material Handling Segment Increase Three Months Ended December 31, (Decrease) Material Handling 2025 2024 2025 versus 2024 • Total revenue declined $0.8MM, or (0.5)%, from $168.6MM to $167.8MM Revenues: • Product support revenue of $54.4MM for Q4 202
Slide 14: Q4 2025 Quarterly Financial Analysis: Construction Equipment Segment
CFO OVERVIEW Q4 2025 Quarterly Financial Analysis Construction Equipment Segment Increase Three Months Ended December 31, (Decrease) Construction 2025 2024 2025 versus 2024 • Total revenue increase $10.0MM, or 3.1%, from $318.6MM to $328.6MM Revenues: • Product support revenue of $70.1MM for Q4 2025
Slide 15: Q4 2025 Quarterly Financial Analysis: Master Distribution Segment
CFO OVERVIEW Q4 2025 Quarterly Financial Analysis Master Distribution Segment Increase Three Months Ended December 31, (Decrease) 2025 2024 2025 versus 2024 Master Distribution (Ecoverse) Revenues: • Total revenue increased $2.5MM, or 21.7%, from $11.5MM to $14.0MM New and used equipment sales $ 11.
Slide 16: 2025 Financial Analysis: Total Company
CFO OVERVIEW 2025 Financial Analysis Total Company Increase Year Ended December 31, (Decrease) New/used equipment 2025 2024 2023 2025 vs 2024 54% Revenues: Parts New and used equipment sales $ 999.3 $ 987.0 $ 1,025.9 1.2% 16% Parts sales 291.0 294.4 278.3 (1.2)% Service revenues 256.7 253.8 241.3 1.
Slide 17: 2025 Financial Analysis: Material Handling Segment
CFO OVERVIEW 2025 Financial Analysis Material Handling Segment Increase Year Ended December 31, (Decrease) New/used equipment 2025 2024 51% Parts 2025 versus 2024 15% Revenues: New and used equipment sales $ 335.4 $ 365.2 (8.2)% Parts sales 95.1 99.6 (4.5)% Service revenues 133.9 135.9 (1.5)% 2025 R
Slide 18: 2025 Financial Analysis: Construction Equipment Segment
CFO OVERVIEW 2025 Financial Analysis Construction Equipment Segment Increase Year Ended December 31, (Decrease) New/used equipment 2025 2024 2025 versus 2024 55% Revenues: Parts 16% New and used equipment sales $ 610.5 $ 574.4 6.3% Parts sales 185.8 186.7 (0.5)% Service revenues 121.7 117.1 3.9% 202
Slide 19: 2025 Financial Analysis: Master Distribution Segment
CFO OVERVIEW 2025 Financial Analysis Master Distribution Segment Increase Year Ended December 31, (Decrease) New/used equipment 2025 2024 2025 versus 2024 83% Revenues: New and used equipment sales $ 55.6 $ 48.0 15.8% Parts sales 10.5 8.9 18.0% Service revenues 0.9 0.8 12.5% 2025 Revenue by Rental r
Slide 20: Quality of Earnings
CFO OVERVIEW Quality of Earnings Revenue is led by equipment sales, but profitability is anchored in our aftermarket business Parts & Service 53% Equipment Sales 60% 2025 2025 Revenues Parts & Service Gross Profit 30% By Department By Department Equipment Sales 35% Rental 10% Rental 12% 20 Earnings
Slide 21: Construction Segment Focus: Earnings Quality Increases in 2025
CFO OVERVIEW Construction Segment Focus: Earnings Quality Increases in 2025 $104.2 $101.0 Product Support (PS) Departments 2024 2025 $ Change Adj. EBITDA $25.8 $39.1 +$13.3 Rental equipment sales gross profit 2024 2025 $ Change (i.e. gain on sale) Gain on sale of $30.5 $19.3 -$11.2 rental equipment
Slide 22: Rental Fleet Summary
CFO OVERVIEW Rental Fleet Summary December December ($MM) Gross Book Value 31, 2024 31, 2025 Inc./(Dec.) Material Handling $207.4 $207.4 $0.0 Construction – Aerial (Rent-to-Rent) 64.7 33.5 (31.2) Total Rent-to-Rent Fleet 272.1 240.9 (31.2) Construction – Earthmoving/Specialty (Rent-to-Sell) 299.1 29
Slide 23: Free Cash Flow Performance
CFO OVERVIEW Free Cash Flow Performance [1] Non-GAAP measures; see Appendices for reconciliation of Non-GAAP measures 2023 2024 2025 2026 Plan Adjusted EBITDA [1] $ 191.4 $ 168.3 $ 164.4 ~$180.0 Plus: Non-Cash Operating Activities (Non-Addbacks) 2 7.3 8.0 4.0 (Less): Gain on sale of Rent-to-Sell “RT
Slide 24: Capital Structure / Credit Profile
CFO OVERVIEW Capital Structure / Credit Profile Balance Sheet Strength / Liquidity5 Capital Structure ($MM) EV/2025 December 31, 2025 $ Amount EBITDA 800,000 Cash $18.6 $691MM 700,000 Debt:1 600,000 500,000 $460MM Lines of Credit (ABL)2 $213.6 400,000 Floor Plan – Used and Rental 72.3 300,000 2.2x F
Slide 25: Debt Structure and Maturity Runoff
CFO OVERVIEW Debt Structure and Maturity Runoff Debt Maturity ABL SSSL $600MM Drawn Undrawn $500MM $500MM On June 5, 2024 the Company amended its ABL facility to increase borrowing $400MM capacity and extend the maturity from 12/31/2025 to March of 2029. Simultaneously with the amendment, the Compan
Slide 26: Capital Allocation Strategy
CFO OVERVIEW Capital Allocation Strategy STRATEGIC M&A STOCK REPURCHASE LEVERAGE REDUCTION ORGANIC GROWTH $30.0 million share repurchase Strategic opportunities with in- program in place, with ~$17 Manage leverage profile and network dealerships and in Dedicated to expansion, market million remainin
Slide 27: FY 2026 Guidance
CFO OVERVIEW FY 2026 Guidance FY 2026 OUTLOOK ($ IN MM) ADJUSTED EBITDA: $172.5MM – $187.5MM FY 2026 (Net of New Equipment Floorplan Interest) GUIDANCE FREE CASH FLOW BEFORE RTS DECISIONING: $105.0MM – $115.0MM TOTAL NET DEBT / ADJ. EBITDA: <4.5x 2026 GUIDANCE ASSUMPTIONS/COMMENTARY: Material Hand
Slide 28: 2026 Guidance Bridge
CFO OVERVIEW 2026 Guidance Bridge $3.0 $2.9 $8.9 ($1.5) $6.5 $180.0 $7.6 ($11.8) $164.4 • Reversion to Normal Industry Equipment Volumes and Margins Can Quickly Restore EBITDA • MSD% Product Support Growth Provides Meaningful EBITDA opportunity in 2026 • Lower Fixed Cost Base Can Yield Amplified Ope
Slide 29: Thank You
THANK YOU (NYSE:ALTG) Investor Relations Contact: Kevin Inda SCR Partners M: (225) 772-0254 E: Kevin@scr-ir.com 29 Earnings Presentation | Fourth Quarter and Year Ended 2025 | February 26, 2026
Slide 30: Supplemental Appendices Information: About the Company
SUPPLEMENTAL APPENDICES INFORMATION About the Company 30 Earnings Presentation | Fourth Quarter and Year Ended 2025 | February 26, 2026
Slide 31: Alta Equipment Group Overview
THE COMPANY THE COMPANY Alta Equipment Group Overview Material Handling Construction Distribution BRANDING MARKET RELATIONSHIPS OEM/SUPPLIER SELECT OFFERING PRODUCT SELECT Food and Beverage Highway, Street, and Bridge Biofuel / Compost / Food Waste / SELECT END MARKET Manufacturing Construct
Slide 32: Material Handling Revenue by End-Market
THE COMPANY Alta Equipment Group – Material Handling Revenue by End-Market Finance, Insurance, and Aggregate and Mining Real Estate 0% 1% Agriculture, Forestry, and Manufacturing End-Market Detail Landscaping Retail Trade 0% 8% Other 11% Transportation Equipment Public Administration 15% 9% Rubber A
Slide 33: Construction Equipment Revenue by End-Market
THE COMPANY Alta Equipment Group – Construction Equipment Revenue by End-Market Aggregate and Mining Finance, Insurance, and 9% Real Estate 2% Retail Trade Construction End-Market Detail 2% Manufacturing Agriculture, Forestry, and 8% Landscaping 7% Building Construction General Contractors And Opera
Slide 34: Product Support Overview
THE COMPANY THE COMPANY Product Support Overview Product We have capabilities to support a variety of Support makes and models of Construction and Solutions Material Handling equipment. SERVICE Over 83 full-service locations across 15 states and 3 provinces Approx. 1,200 of Alta’s ~2,800 employe
Slide 35: Product Support Yield Trends
THE COMPANY Product Support Yield Trends Parts and Service Sales follow Equipment Sales Parts and Service Sales ($MM) New/Used/Rental Eq. Sales 2021 2022 2023 2024 2025 Parts and Service Sales Parts $178.5 $234.8 $278.3 $294.4 $291.0 $1,200.0 Service 165.5 206.6 241.3 253.8 256.7 Total $344.0 $441.4
Slide 36: Alta Equipment Group Vs Pure-Play Rental Businesses
THE COMPANY Alta Equipment Group Vs Pure-Play Rental Businesses EQUIPMENT DEALERSHIP BUSINESS MODEL New and used equipment sales Protected exclusive areas of primary responsibility (APRs) 54% Exclusive rights to OEM equipment and parts Proprietary diagnostic software to service field populatio
Slide 37: Alta Equipment Group Financial Profile
THE COMPANY Alta Equipment Group Financial Profile ($MM) 2022 2023 2024 2025 Revenue $1,571.8 $1,876.8 $1,876.6 $1,835.9 Gross Profit 419.6 507.2 493.7 474.6 % margin 26.7% 27.0% 26.3% 25.9% Operating Expenses1 378.8 452.8 475.1 451.4 Adjusted EBITDA [1] $158.1 $191.4 $168.3 $164.4 % Margin 10.1% 10
Slide 38: Appendices: Unaudited Reconciliation of Non-GAAP Financial Measures
APPENDICES Unaudited Reconciliation of Non-GAAP Financial Measures 38 Earnings Presentation | Fourth Quarter and Year Ended 2025 | February 26, 2026
Slide 39: Adjusted EBITDA – GAAP Reconciliation
APPENDIX A Adjusted EBITDA – GAAP Reconciliation ($MM) 2022 2023 2024 Q4 2024 Q4 2025 2025 Net income/(loss) available to common shareholders $6.3 $5.9 $(65.1) $(11.4) $(12.5) $(83.3) Depreciation and amortization 112.0 132.6 144.5 34.7 31.7 133.6 Interest expense 31.8 57.0 81.3 23.4 21.8 88.4 Incom
Slide 40: Free Cash Flow Performance – GAAP Reconciliation
APPENDIX B Free Cash Flow Performance – GAAP Reconciliation ($MM) 2023 2024 2025 Levered Free Cash Flow after RTS Decisioning and Returns to Shareholders[1] 1 $16.6 $29.8 $15.9 Reconciliation to Consolidated Statements of Cash Flows: Cash Paid Addbacks to EBITDA 2 (3.4) (9.4) (12.9) Cash vs Accrual
Slide 41: Economic EBIT – GAAP Reconciliation
APPENDIX C Economic EBIT – GAAP Reconciliation ($MM) 2022 2023 2024 2025 Net income/(loss) available to common shareholders $6.3 $5.9 $(65.1) $(83.3) Depreciation and amortization 112.0 132.6 144.5 133.6 Interest expense 31.8 57.0 81.3 88.4 Income tax expense/(benefit) 1.3 (6.4) (4.2) 21.5 EBITDA [1
Slide 42: Unlevered FCF Before/After Growth Investments Reconciliation
APPENDIX D Unlevered FCF Before/After Growth Investments Reconciliation ($MM) 2022 2023 2024 2025 Economic EBIT [1] $113.8 $122.3 $77.7 $81.9 Cash Paid for Income Taxes (1.0) (5.7) (3.7) (4.6) Unlevered FCF Before Growth Related Investments [1] $112.8 $116.6 $74.0 $77.3 1 Working Capital Investment