Alta Equipment Group Inc. (ALTG) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.614 October alone, top 75 million, which is nearly 60% of our entire 00:00:05.756 -- 00:00:08.018 women's sales in Q3. 00:00:08.018 -- 00:00:11.861 With that, we believe the pattern witnessed in the third quarter reflected a shift rather 00:00:11.861 -- 00:00:16.686 than an indication of softness, as customers seemingly elected to push purchases from 00:00:16.686 -- 00:00:21.730 Q3 into Q4 as they awaited more definite signals on interest rate direction and 00:00:21.730 -- 00:00:25.393 year-end tax benefits under the One Big Beautiful Bill Act. 00:00:25.393 -- 00:00:30.065 That timing dynamic, coupled with greater confidence in backlogs and financing, sets 00:00:30.065 -- 00:00:34.512 the stage for what we believe is the beginning of a fleet replenishment cycle. 00:00:34.512 -- 00:00:38.757 As we sit here today, our backlog in material handling remains over the 100 million mark, 00:00:38.757 -- 00:00:42.963 helping to provide visibility for the next several quarters. 00:00:42.963 -- 00:00:47.950 Even with muted volumes during the quarter, productivity and cash flow remained resilient. 00:00:47.950 -- 00:00:53.438 SG&A is down roughly $25 million year-to-date, driven by structural cost savings, 00:00:53.438 -- 00:00:56.495 improved efficiency, and a disciplined execution. 00:00:56.495 -- 00:01:00.920 Those efficiencies are now embedded in our run rate and provide for operating leverage 00:01:00.920 -- 00:01:03.580 as the market rebounds. 00:01:03.582 -- 00:01:07.386 Turning the focus now to our construction segment. 00:01:07.386 -- 00:01:11.530 Our construction equipment segment performed admirably given continued tightness in private 00:01:11.530 -- 00:01:16.676 capital spending. Demand from customers tied to long-term, fully funded in...