Alta Equipment Group; Nesco Holdings; Toromont Industries; Wacker Neuson Group

Nov. 15, 2020

Alta Equipment Group, Livonia, Mich., earned net revenue of $220.6 million during the third quarter, up 47.3 percent compared to $149.8 million last year. Net revenue for the first nine months of 2020 was $593.2 million, up 52.9 percent compared to $388 million last year. Ryan Greenawalt, Alta CEO, said, “Alta’s solid third quarter results reflect increased customer demand from the prior quarter in both our material handling and construction businesses. As business conditions improved, we returned to close to our pre-pandemic levels of operation and labor utilization, and judiciously expanded our skilled labor force during the quarter in key areas across the Alta network. The addition of our two recent acquisitions in the Midwest, Martin Implement Sales and Howell Tractor & Equipment, will provide further penetration into a strategic growth market and further expand our product lines and OEM relationships.”

Nesco Holdings, Fort Wayne, Ind., earned $69.3 million in total revenue during the 2020 third quarter, a 10.9 percent increase compared to $62.4 million. During the first nine months of 2020, revenue was $219.5 million compared to $186.8 million the year before.

Toromont Industries, Toronto, earned $921.7 million in revenue during the 2020 third quarter, a 5 percent decrease compared to $975.2 million during the 2019 third quarter. During the first nine months of the year, revenues were $2.5 billion, down 6 percent compared to the $2.7 billion the year before.

Wacker Neuson Group, Munich, reported revenue of €390.8 million (US$461.4 million) during the 2020 third quarter, a decrease of 16.5 percent compared to €468.2 million (US$552.8 million) the year prior. Revenue for the first nine months of 2020 was €1.2 billion (US$1.4 billion), down 16.4 percent compared to €1.4 billion (US$1.7 billion) in the 2019 third quarter.

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