Alta Equipment Group and Albemarle report strong Q2 earnings

Alta Equipment Group reported strong second-quarter results, driven by improved equipment demand, recovering deliveries, and enhanced margins. Revenue reached $475.5 million, an increase of approximately $65 million from the first quarter. Adjusted EBITDA rose to $48.6 million, up from $28.1 million in the previous quarter, with margins expanding to 10.2%.

CEO Ryan Greenawalt noted that the material handling segment showed the clearest signs of improving demand, with a backlog reaching approximately $143 million, the highest level since 2023. CFO Tony Colucci attributed the performance to seasonal improvements in construction and rental activity, alongside better operational execution.

Albemarle reported a significant increase in second-quarter earnings, with adjusted earnings per share (EPS) of $3.75, compared to 11 cents per share the previous year. This surge was largely driven by higher lithium prices. The company's revenue totaled $1.74 billion, exceeding expectations of $1.61 billion.

Adjusted EBITDA for Albemarle reached $858 million, a 155% year-over-year increase, while margins expanded to 49%. The company also reported $638 million in free cash flow and noted progress on cost and productivity improvements at facilities in Chile, Jordan, and China.