Alta Equipment (ALTG) ZACKS·2024-11-13 00:26Core Viewpoint - Alta Equipment reported a quarterly loss of 0.22, marking an earnings surprise of -290.91% [1] - The company's revenues for the quarter were 466.2 million year-over-year [2] Financial Performance - Over the last four quarters, Alta Equipment has consistently failed to meet consensus EPS estimates [2] - The company has topped consensus revenue estimates only twice in the last four quarters [2] - Year-to-date, Alta Equipment shares have declined by approximately 31.6%, contrasting with a 25.8% gain in the S&P 500 [3] Future Outlook - The future performance of Alta Equipment's stock will largely depend on management's commentary during the earnings call and the earnings outlook [4] - Current consensus EPS estimate for the upcoming quarter is -516.81 million, and for the current fiscal year, it is -1.93 billion [7] Industry Context - The Manufacturing - General Industrial industry, to which Alta Equipment belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Alta Equipment's stock performance [5][6]