Equipment distributor Alta Equipment posted $417.4 million in total revenue for the third quarter of 2026, compared to $422.6 million in the third quarter of 2025, a 1.2-percent decrease. Rental revenue dropped 0.9 percent for the quarter, from $48.4 million in last year’s third quarter to $47.5 million in the recently concluded quarter.

New and used equipment sales dipped 3.4 percent and service revenue decreased 2.6 percent while parts sales increased 1.3 percent.

“Our third quarter results reflect the progress we are making to generate stronger earnings and returns from a more efficient capital base,” said CEO Ryan Greenawalt. “Adjusted EBITDA increased approximately 8 percent year over year to $44.9 million despite a meaningfully smaller investment in rental fleet and inventory. Since year-end, we have reduced the combined carrying value of inventory and net rental fleet by approximately $45 million. Additionally, we lowered adjusted total net debt and floor plan payables by approximately $20 million in the quarter and reduced third quarter operating expenses by $2.9 million year over year. These actions are translating into improved profitability, lower interest expense, stronger cash generation and better returns on invested capital, and they remain central to how we will manage the business going forward.

“Within Material Handling, the improvement in demand that we began to see earlier this year continued during the third quarter, with bookings increasing 67 percent year over year and backlog continuing to grow. We believe this strength reflects improving industry conditions and customers beginning to address pent-up replacement needs following an extended period of fleet replacement deferrals. While the pace at which new equipment backlog is converting to revenues has been slower than we expected, we view this primarily as a timing issue rather than a change in underlying customer demand. As throughput improves, we expect the significant increase in bookings and backlog to translate into higher equipment deliveries and revenues. We believe this provides improved visibility and a meaningful base of future revenues as we move through the fourth quarter and into 2027.

“Our Construction Equipment segment’s performance this year is a particularly good example of our focus on capital efficiency. During the quarter, the segment generated 5.0 percent year-over-year revenue growth and 11.2-percent adjusted EBITDA growth while operating with approximately $78 million less in period-end assets than a year ago. This is an important proof point for the work we have done to improve fleet utilization, optimize inventory, and focus the organization on returns on capital deployed.”

Greenawalt noted that infrastructure spending and state DOT budgets remain supportive across the company’s markets. “The strength in Material Handling bookings and backlog provides an additional source of momentum entering 2027,” he said. “Combined with the progress we have made on our cost structure, working capital, and balance sheet, we believe these trends will allow Alta to enter next year from a position of strength.”

For the first nine months of the year, Alta’s total revenue was $1,303.4 million compared to $1,326.8 million in the first nine months of 2025, a 1.8-percent decline. Rental revenue for the first nine months of the year were $131 million compared to $137 million a year ago, a 4.4-percent decrease.

Alta Equipment, headquartered in Livonia, Mich., is No. 31 on the RER 100.