- Earnings call transcript Q3 2022

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Operator

Good afternoon, and thank you for attending the Alta Equipment Group Third Quarter 2022 Earnings Conference Call. My name is Dante, and I’ll be your moderator for today's call. I would now turn on the call to Jason Dammeyer, Director of SEC Reporting and Technical Accounting with Alta Equipment Group. Sir, the floor is yours.

Jason Dammeyer

Thank you, Dante. thank joining and today. everyone, afternoon, you us for Good with XXXX Alta's was posted A to along company's detailing understanding quarter you on presentation financial in assist website is press release results. and third results the designed afternoon issued our a this

and call CEO; me Chairman with Chief our the are Ryan Colucci, On our Financial Greenawalt, today and Tony Officer.

first the second results. For of today's quarter review call, provide a management will financial

with some for prepared remarks open we call begin before your the questions. will We

unknown I'd started, call forward-looking including results, get Before company remind conference as statements financial to release. financial and business including we our press assumptions, that described this and the like growth, may are those everyone future achievements strategy These related contain statements statements, of to our other subject opportunities outlook, in certain and uncertainties business about known economic risks, and general Alta’s and statements non-historical and market conditions. forward-looking to both

We future our have may business, based these results and financial we condition, and of affect trends events, projections believe our and on that expectations current financial operations. forward-looking statements largely about

that these could Although, with after statement differ revise SEC, call. other that to changes issued filed the forward-looking in we these was occur are release materially cause today. that including statements and actual of these no results any reports obligation from reflect Description risks expectations we undertake our discussed our believe to this reasonable, to press are

found website to financial investors.altaequipment.com. A non-GAAP is press turn measures Ryan. this now can release, today's call, present to over on GAAP call at During reconciliation included of and our may will GAAP be measures. we I the both in non-GAAP and

Ryan Greenawalt

our of forward. Tony the in-depth our our Ecoverse for today. a provide afternoon will our the results. I Colucci would including hard going business, our team one dedication, more performance commend rallied the and our our regarding quarter then like recognize I recent thank upon company third will possible. from will joining as to our the review not an strength quarter and based highlights, get financial Ian. Alta would their Thank you, and our principle provide support team But particular, work M&A be before discuss because solid of Hurricane and employees to strong Florida and our without to exemplifying acquisition environment then the current I by for affected the guiding conditions. of across update everyone, continued I want Jason. members execution devastation team, market us into Good highlights, of growth strategy, third quarter of I In you the employees third

and corporate passionate to was are to stressful team step purpose our our of up difference. in a We members and proud see our trust such a time. inspiring neighbors, of It our makes help customers, turbulent that culture co-workers delivering Alta and

Slide Now, our presentation. referencing of investor X

to the quarter, continued For our deliver solid business and growth. consistent third

unique Our organic activity. and to driven our be continues the market by successful both is position in expansion and M&A success

$XXX to XX.X% increased million. revenue total our result, a As

total the third equal of billion $X.X the our As to we of revenue XXXX. full in revenue, end generated year have for quarter, total roughly

detail gains Handling both and Tony our deliver as segments, comments. in revenue to continue Construction will We solid Material his in

Supply also a versus $XX We continues chain a loss XXXX nearly year ago. to ago on levels positive has continue have but persist, and million net headwinds to compared also year-to-date to achieve XX.X% to surpassed stabilized. basis. grow a to continue the income increasing GAAP quarter year EBITDA Adjusted

rates our and existing at used for are kept thrive and Tight rebuild driving equipment pricing from Our more both robust times Product for to business also availability equipment Support business lead population. rental as field repair has elevated continues levels. new

consistency backlogs the continues our at and reflect we sales Our stability in be levels record and serve. to parts and performance service high the continues the remain Demand at business to markets levels. for in strong

the including Our benefiting labor in the rates and and we the is increasingly Federal rental imbalance. fleet region the by Acts, the higher many cycle, continues Lakes material manufacturing longer The Infrastructure supply-demand the as extension the to $XXX advanced and investment renewable on CHIPS geographic Great encouraged term which automated A benefit likely from repatriating to to Alta’s continued of market promote of solutions. related increased energy. areas in utilization pushing physical to Northeast. companies Inflation financial are in footprint tight remain U.S. adopt impact a And is primarily trend, initiatives manufacturing billion driven of and integrated directly also handling basis, Reduction Bill with and several the the increased the positively and

slowing Slide Let X, success financial an our since and acquisitions have acquisitive revenue in which representing me our We went conclude on believe driving update $XXX term the with strategy. we Referencing XX result and XXXX, transactions. not growth in completed we total strategy. growth do recent track public our clear The we is as evidenced our of anticipate by from remain, that of trends long million. consolidation on

in product OEM Yale Canada very our well Ontario added to and acquisition have the vendor of Quebec for we markets. privately Our offering new relationships truck several expand lift held dealer a is Trucks, with locations and Yale Southeastern Industrial five progressing

We business and expect will allied additional that result sales driving of sales parts additional over the Support headcount. time, in product technician Product growth line

eco-friendly which our market represents business. growing to PeakLogix significant make master solutions how North parts provides Industries, rights and material M&A throughout immediately believe the creates best-in-class our solutions business. handling of the waste of in an Canadian our of opportunity and criteria. closed of replacement region material American the in addition to approximately environmental acquisition dealer integrated America. As mentioned a our for market meets the recently on addressable us distribute we as recycling, to We of I'll takes opportunity cross territory This positions sell Ecoverse couple dealers and trucks leader with a points additional North customers call, the Ecoverse to lift equipment exclusive XX% our and Alta's Alta to industry for of previous strategic the rapidly us we which

anchored with First, that we leading of are exclusive a market our look premium for relationship manufacturer rights. by businesses products with territorial

parts in we field businesses annuitized of streams population Secondly, for where product services. look aftermarket revenue sales, form the support of and equipment of creates the replacement

customers' opportunities the our boxes, master-dealer selling prioritize we our businesses entree is what into with first checks cross opportunity and call cover. our other manufacturers. We also for all and with to all equipment we We with the categories of relationships Ecoverse offerings product spend believe share wallet grow across

in fast We the organic space. growing Ecoverse team equipment are on and environmental the excited to board exciting to have expand opportunities see we

for now call and and are for the encouraged want significant Lastly, Alta very the the we the thank for growth, I about thus look to our future this evolving as support XXXX, terms we emerging and our Alta existing performance Tony. dealer team trends build of close, needs. to financial in on balance opportunities far platform over to to out continue To the market accomplishments. our of position I'll capitalize customers' and infrastructure our of XXXX. we turn leverage in capabilities as year Again, into believe our their significant ways And has business and e-mobility strong to in

Tony Colucci

strong for thank holiday in financial everyone, to are to I evening, season that and and Good the and Ryan. XXXX your finish you looking families Alta Thanks, third our we interest here you results. at quarter Group hope a as are your Equipment Alta. and forward XXXX

on the team our and look welcome to new upon to Ecoverse today I that forward established. the We senior areas. three Before will what is leadership team legacy to earning to I building team members your family. begin, has remarks My trust The one we team. Alta want call, from demonstrating committed the Ecoverse focus

are in quarter I'll in were us service-centric economy, choppy again presenting which current offerings of performing benefiting our otherwise as headlines climate diversity the and market well news third strong across First, Despite business board. the environment. breadth macro an model related the is be to our our operating and results,

will when a financial deal from -- I typical acquisitions. Ecoverse acquisition the this a Ecoverse structure our as has profile the to Second, I provide compared unique will perspective

provide increase which in I'll XXXX to adjusted noted EBITDA press made related commentary was guidance, our we to Lastly, the today's release.

Before I is review available encourage I'd be Investor it that I slides noted our our from and will XX-Q, at should today. to investor presentation my altg.com. our be points, get today's website on to Relations talking referencing which our presentation call the call everyone throughout on

For third with through quarter in earnings and remarks, portion in performance. the of prepared slides deck the XX first XX my line

$XX be $XX certain demand on perspective, the to reaching that second sales supply quarters business exceeded mark. revenue $XXX the revenue majority the sales with quarter-over-quarter figure increase of additional in taking and For imbalance of geographies. in handling of a material company's of market $XXX revenue a share for function organic the continues and revenue the history. an comparative From to nominal $XXX related in through in the over XXXX, dollar of million making a basis. the beat revenue time where first for quarterly quarter $XXX beat that approximately consecutive coming million million equipment of the a the equipment on Recall increase QX quarter, recorded in marketplace, and representing the This Embedded that million XX.X% is was company competitive sizable basis. in organic our the million milestone a million heavy

specific it type revenue human come Make a and as business service which and operators, and health our and to easy resources, our This technicians time that our skilled and service order comes of on approximately to the management product Support our quarterly I'd XXXX, basis. a metric. month. the of a grit. in another doesn't X,XXX business in equal operations a customers Parts in the as provide service technology, touches work is another parts quarter. realizing later, best-in-class figure historic almost revenues growth figure that company that segment segments, year to year. new and service revenue like Focusing it. over in perspective Construction organic and strong Xx revenue. of that for $XXX Handling streams, prior Three segment, momentarily focus for of and Product our and prowess requires large, our realize the of of million and excellence were run million at one indicative is some impressive safety, was on we're support on and pieces to with great continue XX.X% logistics mistake, $XX operation, end to management, thousands comes In an XX.X% a team equipment team's record quarter, Congratulations to testament no averaging parts increasing each years the on the parts, Material lines both quarter growth on that number capacity IPO, our

Moving another this a really our solid Rental to have and continues on to business, is department that XXXX.

XX.X% quarter, utilization digit increasing the environment increase continually organic based For in double to compared realized last a of in on revenue and year. rental growth physical an rental we rate when

$XX million from which company last On produced revenue On conversion EBITDA, XXXX. adjusted a million million a forma $XX.X on on million basis, economic rate into pro a EBITDA for year-to-date XX.X% year to up million converted $XXX third increase. in $XX.X adjusted EBITDA. XX-month EBITDA trailing $XXX the forma basis, versus pro $XXX.X -- a a or Moving $XXX.X million EBITDA, the quarter the XX.X% is of for which we EBIT on quarter, was of from million adjusted XX% achieved or basis,

businesses in on results through line added rental, our mentioned the this calls, expected XXXX, and that I've organic M&A in to in our to asset-light platform and third are higher with we expectation. quarter drive via service we've parts, and conversion metric the As previous with growth

[Audio cash CapEx. deck, growth flow our with indicative equity on of XX metric economic our In on forma is value adjusted Gap] pro view, depicted on this driving associated as Lastly, of for Slide shareholders. earnings an and to investor

and a came liquidity leverage our million X.Xx, in our basis specifically. net Finally, of $X.X in for $XXX that number the XX quarter, income balance at the quick on We came with credit update Slide approximately ended GAAP referencing A profile on a million. as quarter again delever as the EBITDA. end, and and sheet acquire YIT quarter the profitable the company sheet revolving on hold Canada, XXXX effectively cash sizable the relatively liquidity And total acquisition adjusted we able and quarter. pro to speaking, line at our Notably, during position balance of were in forma credit. was

from area on the I Alta summarize of unique prepared remarks, for a my in deal its impact Now for particular and want structure the and second perspective. to financial Ecoverse its investors,

revenue of paid annualized tranche million The and million came approximately consideration the in close; note; consideration. added tranche business seller million we've in at with tranche deal tranches, the Alta $XX of an the million on five-year, First, $XX and in million four, four two, EBITDA $X acquisition. close; cash of in to contingent three, $XX at one, $XX.X million stock $X.X a basis tranche

total combine we given in a And the of the nature purchase from the price that model, the First, close first asset-light Xx earnings consideration, we the entering flow. EBITDA. to note relation free cash of tranches at are important deal if three EBITDA somewhat and pretax at perspective, to Ecoverse business are of interchangeable terms it's

is Alta Xx accretive at immediately earnings, pretax leverage this profile. impactful shareholders and to So our deal is minimally to

growth the additional do extent relative $XX they of in having we or Xx. deal. structure the inflate for coming increase of increase earnings summarize of consideration the consideration the other and to of structure earnout, contingent the any Ecoverse’s earnout incremental I contingent a annual that an deal growth multiple we seller To would the without to to beyond but shareholders over paid as beyond wanted to multiple the has believes years realize ability million the the say growth, EBITDA the to the Alta by the paid the multiple the grow ability a consideration strongly earn in reward seller would benefit Alta to the also relates $XX pay deal it Ecoverse to the won't seller earnout million the given structure the that to In time. for buyer future deal for wouldn't allows but words, As

million has of mentioned XX M&A IPO basis engines three to the grow million annual EBITDA to come in have that the million. organic that the Alta’s and call $XX that million pro $XX EBITDA been to it in been was strong. both As at growth I $XXX M&A, strategy, the able again than and relates it our September historic was annualized running follows less by of perspective, organic, suggesting the through M&A earlier our that that some we've an EBITDA provide forma on of historic EBITDA Considering years, $XX as and

adjusted up the for of There $XXX area fiscal the were between be adjusted I'd and to guidance. EBITDA XXXX increase last on million, our We've XXXX adjusted factors remarks as expected that million primary XX, the on $XXX For my to we the to million influenced previously. presented increased like discuss Slide made range $XXX and to thinking EBITDA million three $XXX from our around for new EBITDA. guide XXXX

First, guidance year outperformance expectations in relative QX when to have acknowledge for to our end. determining we

XXXX. the and we've parts far into seen confident the we're strength that year and service thus XXXX continue will Second, the in end of in through

QX, We to currently. are also what confident numbers shops yards ability sales demand and given continued in equipment in have equipment in and the for we in our our strong our deliver

EBITDA last extremely -- note company to outperformance QX expecting are basis. at organic record outpace time. to we that a performance year's XXXX in an our was was this, Given sorry, for and It's quarter the XXXX, on the important QX strong adjusted

on must Ecoverse’s Third, quarter. for list of layer months the also two into the performance the factors, in of fourth we results

relative pleased expectations Given comparing to in see began and make All and guidance rental weather impact the is quarter. support colleagues $XXX year those want quarter it with business purpose the congratulate to for the million deliver lands fiscal an updated for over that this range. and difference. back and when collective makes at $XXX in Alta the expectation EBITDA to closing, EBITDA to that your we the a for on revenue reminded of is adjusted North In that, to colder turn operator back natural here when the XXXX, our quarter, of trust reduction seasonal, for extremely within we to that once I it be performance the another we the to million in considering rental a caveat that Thank to told QX in appropriate we result the business specifically. corresponding I'll factors, again another should as be And half for felt my Q&A. will attention. One always year you great starts the their guidance with investors our one and three raise our positive time QX’s

Operator

DA you, Thank Our first Davidson. Instructions] from sir. [Operator Matt Summerville line with of comes question the

line Your is open. now

Matt Summerville

of A questions. couple

not maybe in talk can here And this a and little looking there's recycling material the or then done you're forward that business on acquisition, TAM trajectory be whether over deals type be going the bit whether follow piece organic just more First, more waste at? And term and of I about a have long can of the up. you a market to the Alta’s and long-term?

Ryan Greenawalt

Ryan. I'll take that. is This

So Matt, U.S. Ecoverse is this OEM around catching The their the sector flagship globally Europe terms of Doppstadt, that And XX%. which Western early business, to innings. the comes its measuring is today, market market in size. is are the in up share they with

total sector phenomenal that be the defining So, equipment poised is addressable $X and up be sector. of European as market across of market we going this of the catches to see We think we're less environmental of is than that the U.S. a to growth it that organic big a counterparts. business billion the with sort today the is that's as machinery what global part

these to acquire of a own They is master expertise organic of types to sell with specialty sub to that the products really from channel through So anything and engineering in participate they're more their them a types lot of of to we through a of is dealer APR cycle. some a relationship our don't of handholding we why party. drive sense dealer and This makes that long sales lot really of think have need story. products require adoption trying machines. part some a growth And

And experts play. so in that's where Ecoverse They're into that area. comes

So them trying and for continue to we'll keep geographies across and be support market sub operate place leverage grow in team recycling. overall dealers -- the we'll that we that to that just our we'll and

Matt Summerville

of do participate. Maybe if on list spend obviously you in was equipment, particularly most key of the canceling you great. of the business? Maybe have of you signs that sort which bit maybe organic material a that seeing the of could in, I a release a maybe on that on deeper And minute the over obviously then in on demand basis, the customers some parts? And detail. more But any hoping and one there's where you for dive slowing, XX%, for in macro most a slides in equipment? for know charts. business in you the end I relative seen slowing markets in speak signs which deck, Ryan, the mentioned demand maybe to And the is of handling little you them orders Any dig are the off

Tony Colucci

that you take It’s if I'll mind, take end Matt. Hey, don't one. first. Tony, Yes. I'll back the

any that business sales by We equipment. of general. cancellations equipment I And have remind to our everybody yet is less see to try in of kind of increase in sort always impacted

that to is XX% you're that referring equipment driven. of Some

in for quarter, which And some been the sales. from third in Hyster-Yale means to time delivery that able is, specifically, that's backlog what supply take for so now quite the led and delivered we that equipment get higher to the of us were

teens, way segment. in XXs still Now rental, low support It's about service and numbers anywhere parts it's product organic broad the when departments, and Matt. Handling in high And Material those you are based, think the grocery, and be from busy see, certainly logistics the can that all and in and what from continues human the through e-commerce to sustenance, food-and-beverage, warehousing just sector general. we and then automotive run

your see yet there's combine to identify mechanics right? quantity, to more those parts general that's increased too, We're perspective, numbers have -- here. from two growth price the the market organic for question. from things is always that you on the a moderately soft we end So also We've added a and handling material the And coming pushing and in But we've out the headcount door. pricing side quantity.

Operator

your questions, for you Thank sir.

Our B. from of line next Rygiel line with of Riley. the Alex questions comes

Alex Rygiel

of quick A questions couple here.

exceptional like side, risk and to the like been is, relates new margin feel does done flip equipment if the job basis sort its the you've chain supply in broadly equipment guess it getting As think on obviously But sales delivered a that business? the upside the improve, customers to of kind chain there And seems global supply speaking, chain on is used challenge here. do my question has of Alta as improves? of supply line, it supplying and here into and on-time of has then an downside the the short I you been do you there's market more

Tony Colucci

Alex, this Tony. Good is evening.

door. backlog think, follows it true. literally we those the would at supply, right, if things have you customers' where had both get are OEM, that more if we equipment had I the we Meaning, out orders, the on given it names that

extent we're things said I by off relative it's previous probably margins working think, to some expect flat, things But of come to there, chain of volumes. because demand. So still able it on would dearth bit. would the would the specifically to stays margins, equipment a my uptick we a get history, we've we equipment do offset that, in GP an level given up break to and extent little more of ease We've where in used out markets continues out the the that's realized quantity, to probably be seen loose, of record all door the volume, that good the margins in to then, to Having disingenuous. pricing those equal. And be supply bit, if point little nominal the

made mention supply job OEMs worsening have a a getting of perspective. from our And chain but his it's and for not fantastic equipment. in I still in volatile navigating think, point think it, kind doing a Ryan our We us I equipment, to are remarks.

our relationships whole would Alex, lines from is on. and dealers terms well ancillary the throughout one the with filling New Holland having larger with being as, JCB as dealers this Volvo or mention, in and we've of I episode The the benefited and of goes Kubota Case Hyster-Yale in list scale and country thing other product

virtue top and kind out in being equipment. itself to new And the think not tied line so by of used OEM, played one of I that's

Alex Rygiel

Very helpful. it as negative the And and/or then talk then referenced, the had that may on on about And September to talk relates you the quantify impact the could negative the or about have quarter? hurricane quarter? possibly have it you can positive impact it fourth

Ryan Greenawalt

Alex, us to have active for real that. equipment people COVID business essential gave dress take see the open. be it's -- to an rallied kind we're And supporting rehearsal any to really our we times of Everyone of emergency. hard in you in business, how a if negative immediate our anything, I'll impact. And keep need and customers.

housing don't residential the we So just with we demand the the general. business well, side. beat. that that were in more what's create And anything. to didn't watching a happening overly And cautiously if clean-up term to going feel construction actually -- really hurricane is tied think miss long we're We

a unfortunately I need natural And becomes it disasters bit for and of in of our equipment negative So then don't see driver. create demand little a a more industry, impact. terms just

Tony Colucci

point that. put to a on just fine Alex, Yes.

to impact from the immaterial For QX, the hurricane. financials

Alex Rygiel

see still in there's do And fourth the little just of How a a modeling like seasonality, typically sort bit sounded And develops see do that you to quarter. then that fade playing of that we lastly, suggestion there's question, the you in acquisition, that, in when layer fade results? obviously reported it out year? this one a due

Ryan Greenawalt

more I that and Alex. a add do. We material the it's I our we we fade our the become recently, think like and we is, grow the Northern most fleet the have But will -- M&A of Ecoverse in reality the the portion -- -- parts rental less. a still of of U.S. here do function We that fade less

couple the is here see, coming, It nice in the last to be be And will -- so Michigan it's be which of it'll fade weeks, would but there. inevitable. good it's

fade -- I will less will if our we how a back diversified think look of now. of historically, it be fade So the be But there. less kind and we given are

Operator

for you questions, sir. your Thank

Our next line comes Jackson Securities. the of Northland line questions of Ted with from

Your open. line is now

Ted Jackson

can hear me? I assume you

Ryan Greenawalt

We got We you. got Ted. you,

Ted Jackson

Alright, airport now. right sorry, I'm in an

with of The on a just is It's kind update kind just just of distribution on what's kind business just Ecoverse, an and update first that? one on going of question. fun

Ryan Greenawalt

Ryan. this is Ted,

there the has long we're And with selling which consistent the opportunities. theme battery integration charging infrastructure, is work a times. that there's update So, for continuing is that sales need to vehicle, the electric late of stage the lead

the And also to offerings opportunities so credentialize out build ourselves while it's company. lengthening service it's sales cycle, creating tangential for a and us as

sales infrastructure is So last out opportunities. been quarter, stage focused to I would needed late and the we've that's and helping develop our say, in the where building continuing team focused on our navigate customers

we'll hands year. the trucks in customers' in confident some bless We’re that next

Ted Jackson

model? like in month a that into well? the about it as I to basis be sure something that seasonal They their little not trailing a XX But layer with on put a bit shifting I north not regards I'm might into to has if through EBITDA. Ecoverse, did just kind in forecast million you year. Then that. how of $XX million level they've talk yet anyone putting a on over it'd for $XX next of And assuming mean, how maybe think assume fiscal with discussion Ecoverse just maybe then

Tony Colucci

$XXX,XXX their this EBITDA. with to million the that, with buying lots OEMs referred backlog, OEMs they're high to Handling of from Construction does are given tailwinds rent Ryan bunch which experiencing macros same business perspective. issues number, a Ecoverse part rental master distribution, expect that from fleet We're a the supply Material cetera. that and $XX but Yes, is a equipment Ecoverse today of the segment month and do business, it's of thing their dealer out. in revenue, have doing status. parts kind buy going growth And business line. We of about parts. in its a turning dealer same in or your would is revenue. chain and And agreement Ted. given They network. not agree as $XXX,XXX it to not a with revenue report some of called rental we're equipment it They're is new things and our $XX demand, doing thing question, million I et some a cetera, our This like They'll et good experiencing demos and

what parts the we businesses, so will and to basis. be more grow a And trail we of a sales field have And from legacy of on able parts when quarterly basis. you'll kind lag on and see know kind our population,

Ted. So It's XX% we company to would been grow, from hope historically. expect that. be too early Ecoverse, what probably growth it's to number to XX%, about able a that looks And exactly we continue like but talk to

Ted Jackson

there it? is any And seasonality to

Tony Colucci

little they're equipment, be I have season long where we sales may There the no. Sorry, can a say of selling the earlier and their of is seasonality, March, bit customers that it. of the Ted, in But lot guess short a year, seasonality so in shouldn't April.

Ted Jackson

has you a a e-commerce lot Can of line. warehouse how is, I step might I'll hold jump Okay. what people clearly about put automation segment space. you? that new saying your just of impact mean, talking business. seeing time to kind And in slowdown and there's particular over I it Thanks. subletting little business distribution and out and And Amazon are a spend then of in then of centers you're my wanted last you've on kind question of seen to the

Ryan Greenawalt

Ted, this is Ryan. that. I'll take

actual lot or being about happening, kind solutions. we questions warehouse fielding demand headline and what still in projects these keep space. haven't seen are we is And we're integration number slowdown that autonomy spaces any retrofitted about old a type seeing warehouse that of warehouse of and for So

there. with I all and would fact, of historically part In lack of it -- certainty referenced just in being driving to project. ROI on think the tightness it, able say we this able is my have product move for operations it that this and is out running based too, the able but I remarks, part to labor of being lot today was keep to is of actually results ROI, of achieve of appetite talent a their type And that being

Operator

registered. this there are questions At no currently registered. There Instructions] are time, questions no [Operator

remarks. So I'll management to over conference for the now any closing like our to pass

Ryan Greenawalt

That's Thank it concludes for for remarks. joining Thanks this us our you. That management. evening.

Operator

conclude we'll earnings Group your Thank third participation. Equipment today's XXXX that, for with And quarter you Alta call.

disconnect may You your line. now

Alta Equipment (ALTG) 11 Nov 222022 Q3 Earnings call transcript