LIVONIA, Mich. (AP) — LIVONIA, Mich. (AP) — Alta Equipment Group Inc. (ALTG) on Wednesday reported first-quarter net income of $1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Livonia, Michigan-based company said it had net income of 1 cent.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The company posted revenue of $420.7 million in the period.
Alta Equipment shares have risen nearly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.19, a rise of 40% in the last 12 months.
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