Alta Equipment posted $423 million in total revenue in the first quarter of 2025 compared to $441.6 million in the first quarter of 2024, a 4.2-percent decrease. Rental revenue in the quarter was $42.3 million compared to $48.5 million in the first quarter last year, a 12.8-percent decline. New and used equipment sales dropped from $228.6 million to $221.7 million, a 3-percent dip; while rental equipment sales plummeted from $27.6 million to $20.9 million, a 24.3-percent skid.
“Our first quarter performance continues to underscore the resiliency of our business model,” said Ryan Greenawalt, CEO of Alta Equipment. “Despite the ongoing uncertainty regarding the macro economy, operating trends in our Construction Equipment business were stable as we realized the typical seasonal impacts in our Northeast and Midwest markets. Similar to years past, as the weather improved in late March, rental fleet naturally deployed to customers as they embark on peak construction season. Additionally, the Florida construction market remains healthy as both the Florida DOT and the federal government continue to fund large projects statewide. The stability in Our Construction Equipment segment can be attributed to our customers’ focus on infrastructure-related projects rather than on the general non-residential markets, which we expect will drive consistent demand for heavy equipment for the remainder of the year.
“While our Material Handling new equipment sales were down when compared to the peak delivery levels realized in the first quarter of last year, stronger margins on new and used equipment sales helped offset the impact of reduced volumes. Additionally, we were encouraged by solid bookings in our Material Handling segment during the quarter which fills our sales pipeline in the second half of 2025. Importantly, our product support business remained solid in the quarter and continued to be a pillar of strength in the face of volatile general economic sentiment. Lastly, while the situation with tariffs remains fluid, based on current information we believe the current cost increases and surcharges from our major OEMs is manageable and will allow us to remain competitive in the equipment marketplace. This view, along with the resilience of our end markets and our product support business, underpins our reiteration of our guidance on an organic basis.”
Greenawalt said SG&A was down $7.9 million year over year and adjusted EBITDA was $33.6 million compared to $34.1 million in the year-ago quarter.
Divesting Chicago’s aerial fleet
“During 2025 we are committed to refining Alta’s focus, which includes the rationalization of non-core assets,” said Greenawalt. “To that end, on May 1st, we entered into a definitive agreement and closed on the sale of substantially all of our aerial fleet rental equipment business in the Chicagoland market, a business that was born and grown organically over the past seven years. While we wish the new owners of the business well, ultimately, the competitive environment, lack of product support yields, and commoditized product relative to the rest of our portfolio does not align with our strategic priorities in the Illinois market. The proceeds from the divesture will be allocated towards reducing our outstanding debt.”
Alta divested its Chicago-area aerial assets for about $18 million. The company reaffirmed its organic guidance range and now expects to report adjusted EBITDA between $171.5 and $186.5 for the 2025 fiscal year. The company’s board of directors also approved an increase to the company’s common stock repurchase program authorization from $20 million to $30 million.
Alta Equipment Group is headquartered in Livonia, Mich.
