ALTG - Alta Equipment Group down 5% on prelim Q2 numbers and secondary offering
2023-07-21 03:15:17 ET
Alta Equipment Group ( NYSE: ALTG ) stock price dropped 5% during after hours of trading, expects preliminary revenue to be between $462M to $472M; trailing twelve months revenue is expected to be between $1,716.3M and $1,726.3M.
Net income is expected to range between $(1.4)M and $4.3M.
Adjusted EBITDA is expected to be between $48M to $50.5M; and TTM Adjusted EBITDA expected to be between $175.5M and $178M.
The company commences a public offering of 2M shares by an affiliate of B. Riley Financial.
Underwriters have a 30-day option to purchase up to 300,000 additional shares.
Alta is not offering any shares and will not receive any proceeds from the sale of shares.
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Alta Equipment Group down 5% on prelim Q2 numbers and secondary offering