Third-quarter revenue was up 33.7 percent over the same period in 2020 for Alta Equipment to $295 million. Sales of new and used equipment were up 39 percent to $136.8 million. Service revenue topped $41 million, up 15 percent from $35.5 million reported in Q3 2020.
“Our operating performance in the third quarter reflects our flexible business model and our ability to produce strong financial results in a supply constrained market,” said Ryan Greenawalt, CEO, in a prepared statement. “Our high level of new and used equipment sales in the first three quarters of the year are expected to continue to drive future high-margin product support revenue.
“We continue to see significant customer demand across all our business segments and anticipate finishing the year on a high note. The growth in our core markets combined with our expanded capabilities in our material handling business, our entry into the electric vehicle market, and our recent acquisitions have positioned us well for future success.”
Source: Alta Equipment
