Alta Equipment Group Inc. · NYSE:ALTG
Alta Equipment — Q2 2025 Earnings Presentation
33 slides from Alta Equipment's earnings presentation, Aug 7, 2025
Slide 1: Earnings Presentation Second Quarter 2025
EARNINGS PRESENTATION SECOND QUARTER 2025 August 7, 2025
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 INTRODUCTION CEO Overview Executive Officers: Q2 2025 Results Business Conditions Ryan Greenawalt, CEO Strategy and Execution & Tony Colucci, CFO CFO Overview Q2 2025 Quarterly Financial Analysis Rental Fleet Summary Free Cash Flow Performance Capital Struc
Slide 4: CEO Overview
CEO OVERVIEW Ryan Greenawalt Earnings Presentation | Second Quarter 2025 | August 7, 2025 4
Slide 5: Q2 2025 Results
CEO OVERVIEW Q2 2025 Revenue Of $481.2 million, a $58.2 million sequential increase over Q1 2025, a slight decrease of $6.9 million Q2 2025 from Q2 2024 Construction and Material Handling Revenue Of Results: $300.7 million and $160.7 million, respectively New and Used Equipment Sales Increased Solid
Slide 6: Business Conditions
CEO OVERVIEW Solid Industry Fundamentals 1Industrial Spending forecast remains high; $513 billion in ’24 to $525 billion in ‘28 2Infrastructure starts forecast to grow from $327 billion in ’24 to $379 billion in ‘28 Business 3Federal infrastructure spending (IIJA $1.2 trillion) just reaching m
Slide 7: 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 87 throughout Michigan, Indiana, Ohio, Illinois,
Slide 8: CFO Overview
CFO OVERVIEW Tony Colucci Earnings Presentation | Second Quarter 2025 | August 7, 2025 8
Slide 9: Q2 2025 Quarterly Financial Analysis – Total Company
CFO OVERVIEW Q2 2025 Quarterly Financial Analysis Total Company Increase Three Months Ended June 30, (Decrease) Total Company 2025 2024 2025 versus 2024 • Total revenue declined $6.9MM, or (1.4)%, from $488.1MM to $481.2MM Revenues: • Product support revenue of $140.5MM for Q2 2025 versus $144.2MM i
Slide 10: Q2 2025 Quarterly Financial Analysis – Material Handling Segment
CFO OVERVIEW Q2 2025 Quarterly Financial Analysis Material Handling Segment Increase Three Months Ended June 30, (Decrease) Material Handling 2025 2024 2025 versus 2024 • Total revenue declined $14.9MM, or (8.5)%, from $175.6MM to $160.7MM Revenues: • Product support revenue of $57.0MM for Q2 2025 v
Slide 11: Q2 2025 Quarterly Financial Analysis – Construction Equipment Segment
CFO OVERVIEW Q2 2025 Quarterly Financial Analysis Construction Equipment Segment Increase Three Months Ended June 30, (Decrease) Construction 2025 2024 2025 versus 2024 • Total revenue increased $5.8MM, or 2.0%, from $294.9MM to $300.7MM Revenues: • Product support revenue of $80.4MM for Q2 2025 ver
Slide 12: Q2 2025 Quarterly Financial Analysis – Master Distribution Segment
CFO OVERVIEW Q2 2025 Quarterly Financial Analysis Master Distribution Segment Increase Three Months Ended June 30, (Decrease) 2025 2024 Master Distribution (Ecoverse) 2025 versus 2024 Revenues: • Total revenue increased $4.2MM, or 25.1%, from $16.7MM to $20.9MM New and used equipment sales $ 17.6 $
Slide 13: Construction Segment Focus: Earnings Quality Increases in 2025
CFO OVERVIEW Construction Segment Focus: Earnings Quality Increases in 2025 Product Support $51.6 YTD 2024 YTD 2025 $ Change (5.6%) $48.7 (PS) Departments Adj. EBITDA $9.7 $18.0 +$8.3 Rental equipment sales gross profit YTD 2024 YTD 2025 $ Change (i.e. gain on sale) Gain on sale of $15.4 $9.5 -$5.9
Slide 14: Rental Fleet Summary
CFO OVERVIEW Rental Fleet Summary June 30, June 30, ($MM) Gross Book Value 2024 2025 Inc./(Dec.) Material Handling $204.1 $214.2 $10.1 Construction – Aerial (Rent-to-Rent) 72.0 36.9 (35.1) Total Rent-to-Rent Fleet 276.1 251.1 (25.0) Construction – Earthmoving/Specialty (Rent-to-Sell) 341.1 318.4 (22
Slide 15: Free Cash Flow Performance
CFO OVERVIEW Free Cash Flow Performance [1] Non-GAAP measures; see Appendices for reconciliation of Non-GAAP measures Guidance 2023 2024 2025 YTD Midpoint Target Profile 1 Adjusted EBITDA [1] $ 191.4 $ 168.3 $ 82.1 $176.5 $ 200.0 Plus: Non-Cash Operating Activities (Non-Addbacks) 2 7.3 8.0 5.6 -/- (
Slide 16: Capital Structure / Credit Profile
CFO OVERVIEW Capital Structure / Credit Profile Balance Sheet Strength / Liquidity5 Capital Structure ($MM) EV/2025 June 30, 2025 $ Amount EBITDA 900,000 Cash $13.2 800,000 $709MM Debt:1 700,000 600,000 Lines of Credit (ABL)2 $218.9 $496MM 500,000 Floor Plan – Used and Rental 68.7 400,000 2.3x Finan
Slide 17: 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 capacity and extend the maturity from 12/31/2025 to March of 2029. Simultaneously $400MM with the amendment, the Compan
Slide 18: 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 ~$20 Manage leverage profile and network dealerships and in Dedicated to expansion, market million remainin
Slide 19: FY 2025 Guidance
CFO OVERVIEW FY 2025 Guidance FY 2025 OUTLOOK ($ IN MM) ADJUSTED EBITDA: FY 2025 $171.5MM – $181.5MM GUIDANCE (Net of New Equipment Floorplan Interest) FREE CASH FLOW BEFORE RTS DECISIONING: $105.0MM – $115.0MM 2025 GUIDANCE ASSUMPTIONS/COMMENTARY: Adjusting top-end guidance by $5.0MM, to $181.5MM
Slide 20: Thank You
THANK YOU (NYSE:ALTG) Investor Relations Contact: Kevin Inda SCR Partners M: (225) 772-0254 E: Kevin@scr-ir.com Earnings Presentation | Second Quarter 2025 | August 7, 2025 20
Slide 21: Supplemental Information – About the Company
SUPPLEMENTAL APPENDICES INFORMATION About the Company Earnings Presentation | Second Quarter 2025 | August 7, 2025 21
Slide 22: Alta Equipment Group Overview
THE COMPANY Alta Equipment Group Overview Material Handling Construction E-mobility Distribution BRANDING MARKET RELATIONSHIPS OEM/SUPPLIER SELECT OFFERING PRODUCT SELECT Food and Beverage Highway, Street, and Bridge General Freight Trucking, Local Biofuel / Compost / Food Waste / SELECT END
Slide 23: Material Handling Revenue by End Market
THE COMPANY Alta Equipment Group – Material Handling Revenue by End Market Finance, Insurance, and Aggregate and Mining Real Estate 0% 1% Manufacturing End-Market Detail Agriculture, Forestry, and Landscaping Retail Trade 0% 9% Other 11% Transportation Equipment 18% Rubber And Miscellaneous Public A
Slide 24: Construction Equipment Revenue by End Market
THE COMPANY Alta Equipment Group – Construction Equipment Revenue by End Market Aggregate and Mining Finance, Insurance, and 9% Real Estate 2% Retail Trade 2% Construction End-Market Detail Manufacturing 8% Agriculture, Forestry, and Landscaping Building Construction General 5% Contractors And Opera
Slide 25: Product Support Overview
THE COMPANY Product Support Overview Product We have capabilities to support a variety of Support makes and models of Construction and Solutions Material Handling equipment. SERVICE Over 85 full-service locations across 15 states and 2 provinces Approx. 1,300 of Alta’s ~2,900 employees are facto
Slide 26: Product Support Yield Trends
THE COMPANY Product Support Yield Trends Parts and Service Sales follow Equipment Sales Parts and Service Sales ($MM) New/Used/Rental Eq. Sales 2020 2021 2022 2023 2024 Parts and Service Sales Parts $129.6 $178.5 $234.8 $278.3 $294.4 $1,200.0 Service 128.5 165.5 206.6 241.3 253.8 Total $258.1 $344.0
Slide 27: Alta Equipment Group Vs Pure-Play Rental Businesses
THE COMPANY Alta Equipment Group Vs Pure-Play Rental Businesses EQUIPMENT DEALERSHIP BUSINESS MODEL New and used equipment sales Protected exclusive areas of primary responsibility (APRs) 53% Exclusive rights to OEM equipment and parts Proprietary diagnostic software to service field populatio
Slide 28: Alta Equipment Group Financial Profile
THE COMPANY Alta Equipment Group Financial Profile TTM ($MM) 2022 2023 2024 YTD Q2 2024 YTD Q2 2025 June 30, 2025 Revenue $1,571.8 $1,876.8 $1,876.6 $929.7 $904.2 $1,851.1 Gross Profit 419.6 507.2 493.7 252.6 237.3 478.4 % margin 26.7% 27.0% 26.3% 27.2% 26.2% 25.8% Operating Expenses1 378.8 452.8 47
Slide 29: Appendices: Unaudited Reconciliation of Non-GAAP Financial Measures
APPENDICES Unaudited Reconciliation of Non-GAAP Financial Measures Earnings Presentation | Second Quarter 2025 | August 7, 2025 29
Slide 30: Adjusted EBITDA – GAAP Reconciliation
APPENDIX A Adjusted EBITDA – GAAP Reconciliation Six Mos Six Mos Ended Jun Ended Jun TTM ($MM) 2022 2023 2024 Q2 2024 Q2 2025 30, 2024 30, 2025 Jun 30, 2025 Net income/(loss) available to common shareholders $6.3 $5.9 $(65.1) $(12.6) $(6.8) $(25.3) $(28.5) $(68.3) Depreciation and amortization 112.0
Slide 31: Free Cash Flow Performance – GAAP Reconciliation
APPENDIX B Free Cash Flow Performance – GAAP Reconciliation Six Mos Ended ($MM) 2023 2024 Jun 30, 2025 Levered Free Cash Flow after RTS Decisioning and Returns to Shareholders[1] 1 $16.6 $29.8 $(15.0) Reconciliation to Consolidated Statements of Cash Flows: Cash Paid Addbacks to EBITDA 2 (3.4) (9.4)
Slide 32: Economic EBIT – GAAP Reconciliation
APPENDIX C Economic EBIT – GAAP Reconciliation Six Mos Ended Six Mos Ended ($MM) 2022 2023 2024 Jun 30, 2024 Jun 30, 2025 Net income/(loss) available to common shareholders $6.3 $5.9 $(65.1) $(25.3) $(28.5) Depreciation and amortization 112.0 132.6 144.5 72.0 67.0 Interest expense 31.8 57.0 81.3 35.
Slide 33: Unlevered FCF Before/After Growth Investments Reconciliation
APPENDIX D Unlevered FCF Before/After Growth Investments Reconciliation Six Mos Ended Six Mos Ended ($MM) 2022 2023 2024 Jun 30, 2024 Jun 30, 2025 Economic EBIT [1] $113.8 $122.3 $77.7 $43.8 $44.7 Tax (Expense)/Benefit (1.3) 6.4 4.2 6.9 (2.0) Unlevered FCF Before Growth Related Investments [1] $112.