financial our and our on your that for public everyone, It's you year afternoon, interest Equipment third in to believe already results. doorstep hard of fiscal first Good quarter Ryan. closing company. continued Alta the we're thank a Group Thanks, and as out
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to your our we excited invest your I continue Alta's company. trust and Howell Second, strategic the talent, in infrastructure Tractor Volvo Implement with OEM team about Alta the culture. as and earning I new to team of leadership Illinois I'm market business integrating prospects our in forward look Chicagoland Ryan, want in members family. to the senior embracing talents for in to relationships welcome at and existing the into and you growth the one-team Martin
in will realized in how activity that the that the areas: X today our quarter. activity performance I'll on remarks be for third quarter focus we presenting increased My impacted One, the financial business snapback and
a and few from will business I as the quarter-over-quarter lockdowns sequential the focus COVID-related my emerge Specifically, quarter. metrics comments second on in analysis
reiterate business, throughout on streams benefits over XXXX quarters business discussing product rental touch and EBITDA. our past support revenue I'll conditions. our its impact all rental specifically I utilization on volatile dealership the the model. also those Second, want our year-over-year provided performance be steady and structural despite and of to X cash flows I'll business integrated
and liquidity our Lastly, impact the spend I'll on balance at and sheet, be and for position the our quarter, leverage CapEx the M&A discussing end the of QX.
which presentation today, is discuss Investor I'd today. to everyone than review available I at that on call to to quarter. Relations the XX-Q, like portion my this I'd our presents will and that presentation, what present website detail was snapback greater altaequipment.com. call our For that our in today's slides positive our released in should some are It manifested prepared third business activity the noted the there remarks, first of fully in impact encourage in which on be itself our prior
let's So in. dive
our previous XX% incurred for service with labor on various effectively across starting hours the levels Michigan, have automotive my that This X in demand middle our Southeast calls, real-time earnings hours our March, geographies in provides segments. skilled that what been shutdown business for abrupt with quickly demand and familiar of technicians. an a labor our those metric of data For recap, remarks operation. the recall To we in reduction business on keenly is was in on focused we
throughout in end XXXX, gross quarter we've a of demand norm a when As efficiency ability for or improvement match and, large of the we at throughout to supply second XXX% revenue under economy hours the labor rebound million to in to began of which second service which with in pre-COVID $XX demand reversion our labor margin to an portions This increase labor on real-time to pretty third for just basis. continued Important to in and as therefore, led compared is of has hours a QX. levels. the Currently, department mentioned held testament parts service to XX% labor returned managers' note, demand saw the our quarter call, second. the reopen, quarter, the on steep to the
In are and service, in previous able We've to our put maintain a varying we dexterity quarters, XXXX, climates. solidly and I've that dealership test streams the management team our to on test believe spoken we passed. having streams, that revenue business parts and it's revenue macroeconomic in particularly in those model this earnings as we about
volatile opinion had respectively, and that Specifically, the million, cash on flows economic business having of swings key quarters support and are EBITDA in cycle. X product in X, It's million investors X, and a despite that revenue. million, management organic rely our can $X.X Alta's $X service throughout parts metric $X.X
quarters, One in to note. implemented previous COVID. related business of response mention to activity item In special we efforts the in of cost mitigation we've the made decrease
the and mitigation cost picked those then business ceased instances, some we third up efforts. in stabilized in and, quarter, As relaxed
to prepared execute and While same should we will continue us, hope lockdowns cost-cutting COVID's is playbook monitor the behind are we levels business dictate. impact to conditions and
While challenging. throughout business model, parts has our be its service, specifically and value showed has our presented and rental dealership year, more dexterity the to
$X.X that second to To less provide been context, average. is million our on $XX on difficult September we utilization, analyzing XX% approximately months While realizing basis million period XX% organic It's metrics. for to had, XXXX. we've rental our the on experienced organic we've fleet XXXX, rent our on of whereas X-month did up $XX utilization specifically more in quarter the up has on an versus equipment million XXXX, way, the of, be different was to utilization proven basis, we've the XX% year-over-year rent-to-rent our out X regressed. year-over-year. Said on revenue trough average, the than ended million to historically clear, when dig some closer for has in To revenue same physical an $XX
the to business. organic given and in that million $XX roughly that has general. estimate up are in with year-on-year certainly as industry that rental comes it not mind, in to an in drop prospects XX% With consistent pro when long-term how that year-over-year the we lack alone on basis approximately in others industry, Like we Now rental business. rental adjusted on utilization EBITDA our utilization bullish rental XX% the is utilization related rental is slippage the we've last related remain shortfall year, impacted revenue forma of All reduction told, to of versus year-to-date we physical EBITDA? and the
made we XXXX in investments well us the the fleet recovery. believe position our for We in
with However, in line our our also with fleet and and to rental be scale in size we prudent fleet accordingly demand. investment customer need
whereas represents the others mentioned that I rental compared most from just the as to revenue, to it's support half Alta's of highlights point EBITDA are to important traded previous as tied benefits out of exclusively the product aforementioned rental on diversity business Additionally, houses cash calls, and our -- rental. Alta flow our streams publicly over almost
from with second dealership-related $XXX XXXX. profit-and-loss in levels. parts all-important perspective, to the million revenue, quarter service the approximately were million, is and quarter $XX for from briefly, margins which a used the quarter in and service up $XX departments, line coming million of the real departments, parts So new the from historical recap and with Gross
From an operating as perspective on that operating million industrial our income looking the for growth into continues the $X.X its path profitable of income and segments, quarter. segment produced segment
side, when construction expenses, a $X.X the the million of On for operating quarter. income we loss adjusting in onetime reported for
bullish As our long-term youthful the on stated of previously, construction be prospects we continue to segment.
$XX In Martin the Howell, population the grows and is $X million broader we and it a last pro year. realizes and an grow to future to when in to periods. approximately the million compared the Flagler, investments slightly led approximately and this with field up for profitability As made second from of quarter EBITDA benefit which expect of summary, result recent quarter, we've off forma in adjusted
other other couple -- we've A I made. believe and the that well a for position future of the couple some investments notable support highlights us of
sales equipment sales and were to an increased forward our construction or in look million year-over-year X.X% which equipment organically was by New and sales, new segment's gains. This field future $X.X on we year-over-year. as driven population primarily used XX.X% organic basis used up increase
solutions product years line integration and year-over-year has organic and far. great outperformed support a PeakLogix, increased segment's warehouse expectations company, an to on and new reflection construction And systems have bottom our Additionally, is a design revenues equipment XX% sales on build our off the of of start past. basis, thus
our QX. sheet to leverage discuss Moving on factors end to at key Two here: of the balance and liquidity. capital profile and the
First, fleet using fourth CapEx the the cash in of our roughly IPO the a Since liquidity. strategic cost cash acquired Recall revolving and revolving businesses X in now $XXX our serviced liquidity. in that million rental liquidity, mid-February, we've we with and existing growth IPO debt. funded closed and
level business that As happy level -- at or the has an it the QX, at I'm approximately We $XXX of million $XXX end the million. holding of that impressive $XXX at report these be liquidity the same liquidity that IPO to had the million to of believe result structure also a how of the and X fund our strong This and collateral positioned items which profile without impacting a to cash thoughtfully important liquidity base and company's M&A. how flow to reflection we use capital position. we is we'll fund our testament
leverage. On to
is our flow liquidity a leverage and of function revolving measure the asset service our While a of to cash tied directly to utilization. and assets more ability debt, value is
rental compared increase third our rental impacted As leverage end the in last our our fleet. compared forma fleet for historic at negative acquisitions suboptimal investments the levels we've position on X to norms, drivers made to are in when performing There EBITDA mentioned, impact been the year; leverage: two, adjusted when of aforementioned the and on at pro which has quarter. has the our primary
to moment. for fleet a rental comment on I'd just like
us our are drive recall where X- the long of selling this a First, generate that our profitable term. support service over products in field we rent-to-sell which turn drives of we which old years. business fleet product know for I coming fleet model, in used, portion lightly was heavy X-year equipment and and population product mentioned into rental rent-to-sell this revenue categories, to will the out large because the
line quarter. rental we expect to disposal norms, a QX Importantly with and in also be historic strong
profile. EBITDA, current negative CapEx net fleet is in precedes leverage timing-wise, and always Lastly the for which, importantly, rental company's utilization a
we continue. recent construction As time, versus made, on expect investment investment business we've in made over $XXX,XXX investment example to trend more of that approximately fleet produced positive previous note that to Florida our Florida. call, rental our prior revenue manifests being itself in made how months, the In and months the rental of an has rental rental we
a our year least take and EBITDA XX-month figure that fully will to it leverage. investment However, at ultimately trailing for impact
some having pre-COVID our pro enterprise-wide to EBITDA. our QX numbers. forma of was attention like look and our numbers back in my at of to trailing turn I pro So conclude I'd your business basis, the on details producing $XX approximately a If as discussed remarks, million we XX-month forma
expect versus are number $XX quarter As continue about variance we behind I last mentioned, year, running year-to-date. that more million fourth that muted, to And the I albeit well. as into
rental throughout normal businesses the future. we the we've year that, the And in expect an we flip impact, in heavily investment and $XX On also X per as in believe we side to future prudently under made of circumstances, EBITDA to lead discussed, have know million EBITDA generated fleet year. approximately we've COVID's in that invested
with XXXX, we COVID-related field XXXX. can minimum we made additional of as leave cultivate As an we add we the the macroeconomic eye and EBITDA XXXX setbacks to in behind the and that and investments population we've synergies believe regenerate at shortfall a realize toward notwithstanding, EBITDA continue
my happiness and In this stewards I take you in all all over business to the to year your teammates but important yours you also soon take from a I meantime, each of for has wish closing, from not digit few changing many again time last model, life business be the on holiday most vision great months. X in X for that hope looking But during of a next weeks. team daily I and -- health leadership want things a Like To in a in I'm have appreciate of of to operate to I to that thank the some nothing commitment been the our in the you, mind. the investors, forward with faith calendars inventory and interest your proven to and forgotten. X future. season. your to of what our our our best we of capital opportunity be our
time, operator Thank Q&A. I over you for the will back for your the call to and turn
