First Quarter Financial Highlights:

• Total revenues decreased $12.5 million year over year to $410.5 million. On an organic basis*, revenues decreased $8.6 million year over year, or 2.1%
• Material Handling revenues decreased $7.4 million year over year to $150.5 million, while Construction Equipment and Master Distribution revenues decreased a combined $1.8 million year over year to $261.4 million. On an organic basis*, Material Handling and Construction Equipment segment revenues were down $4.7 million and $0.3 million year over year, respectively
• Material Handling and Construction Equipment segments’ new and used equipment sales gross profit margins both remained stable year over year at 19.6% and 11.7%, respectively, and improved notably on a sequential basis
• Service gross profit percentage increased 10 basis points year over year to 60.2%
• Interest expense decreased $2.4 million year over year to $19.5 million in the quarter
• Rental equipment sales increased 44.5% year over year to $30.2 million in the quarter
• Rental fleet, gross book value decreased $59.5 million year over year to $524.6 million
• Net cash provided by operating activities of $20.8 million
• Net loss available to common stockholders of $(20.3) million
• Basic and diluted net loss per share of $(0.62)
• Adjusted basic and diluted pre-tax net loss per share* of $(0.55)
• Adjusted EBITDA* decreased $5.5 million year over year to $28.1 million

Alta Equipment Group Inc., a provider of premium material handling, construction, and environmental processing equipment and related services, has announced financial results for the first quarter ended March 31, 2026.

Ryan Greenawalt, Chief Executive Officer of Alta, said, “While our first quarter financial performance and the harsh winter weather conditions served as a reminder of the seasonality of our business, we observed increased momentum within the quarter. We are proud of the steps taken to continue to optimize our rental fleet and are encouraged by the current trends emerging across our major segments, particularly within our Material Handling business. To that end, first-quarter bookings of lift trucks in our Material Handling segment were 12.7% above the first quarter of last year, with March 2026 representing the highest monthly booking level for Alta since June of 2023. This more normalized and increased level of bookings continued through April, and we are bullish that our Material Handling segment’s equipment sales in 2026 will outperform 2025, as the segment’s equipment sales continued to increase versus year-end. The increase in bookings was broad-based and evident across our diverse end markets and geographies.”

Mr. Greenawalt continued, “For our Construction Equipment segment, industry volumes of general prime equipment in our regions continued to experience modest downward pressure, and our service and rental operations incurred an amplified negative impact from winter weather conditions year over year. While the delayed start to the construction season impacted first-quarter results, we are pleased with the progress made to optimize our rental fleet, as the team generated $26.3 million of rental equipment sales during the quarter, driving further de-fleeting and better positioning the fleet to drive higher utilization in the coming quarters. This disciplined approach to rental fleet and inventory management helped to generate $20.8 million of operating cash flows in the quarter, representing a $38.3 million improvement compared to last year. Notably, the Balance Sheet optimization yielded $2.4 million of interest savings year over year. Also, new and used construction equipment gross margins improved 240 basis points sequentially, which we believe signals an improvement in the supply/demand dynamic in the heavy equipment marketplace. We continue to see strong quoting activity across our markets with demand particularly strong for heavy earthmoving equipment in South Florida. As an important reminder, our construction business is levered to fully funded state and federal infrastructure projects that are expected to generate work for years to come as state DOT budgets in our geographies continue to increase and a federal highway reauthorization bill is expected in September. For our Master Distribution segment, we believe the first quarter marks the tail end of the tariff-induced margin compression that has impacted the segment since the beginning of last year, as renegotiated OEM pricing and the U.S. Supreme Court’s recent ruling on the IPEEA tariffs will restore normal gross margins on our European sourced environmental processing equipment going forward.”

In conclusion, Mr. Greenawalt said, “While our first quarter results were challenged, we remain optimistic about the underlying fundamentals of our business, including the strength of our dealership-related operations, our growing backlog, improving customer sentiment, and the continued optimization of our rental fleet, particularly within our Construction Equipment segment. We remain focused on disciplined capital management, expanding market share in key geographies, and the optimization of our business. As we enter peak activity season, our 2,700 employees remain committed to serving our customers with the equipment and services needed to keep their businesses moving and their projects on schedule. Our business model is proven, encompasses a vast product portfolio, and enables our team to execute quickly and efficiently. After several years of industry retraction in our geographies, due to factors outside our control, we believe 2026 will provide for a pivot point that will validate the long-term strength and value of our dealership model.”