LIVONIA, Mich. (AP) — LIVONIA, Mich. (AP) — Alta Equipment Group Inc. (ALTG) on Thursday reported a loss of $11.7 million in its fourth quarter.
On a per-share basis, the Livonia, Michigan-based company said it had a loss of 39 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The company posted revenue of $509.1 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $482.6 million.
For the year, the company reported that its loss widened to $80.3 million, or $2.55 per share. Revenue was reported as $1.84 billion.
Alta Equipment shares have risen 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.50, a rise of 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALTG at https://www.zacks.com/ap/ALTG
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