Alta Equipment Group Q4 Earnings Miss Analysts' Estimates Amidst Industry Weakness

Specialty equipment distributors stocks reported mixed Q4 results, with revenues beating analysts' estimates by 1.4% on average, but share prices down 8.1% since the earnings results. Alta Equipment Group reported revenues of $509.1 million, up 2.2% YoY, exceeding analysts' expectations by 3.1%. Richardson Electronics reported revenues of $52.29 million, up 5.7% YoY, outperforming analysts' expectations by 4.8%. Herc Holdings reported a weaker quarter with a significant miss of analysts' adjusted operating income estimates.