Alta Equipment Group Inc.

Good afternoon and thank you for attending the Altar Equipment Group second quarter 2025 earnings conference call. My name is Lydia and I'll be your moderator for today's call. I'll now turn the call over to Jason Dammeyer, Director of SEC Reporting and Technical Accounting with Altar Equipment Group.

Thank you Lydia. Good afternoon everyone and thank you for joining us today. A press release detailing Altar's second quarter 2025 financial results was issued this afternoon and is posted on our website along with a presentation designed to assist you in understanding the company's results. On the call with me today are Ryan Greenewalt, our Chairman and CEO and Tony Colucci, our Chief Financial Officer. For today's call, management will first provide a review of our second quarter 2025 financial results. We will begin with some prepared remarks before we open the call for your questions. Please proceed to slide two. Before we get started, I'd like to remind everyone that this conference call may contain certain forward-looking statements, including statements about future financial results, our business strategy and financial outlook, achievements of the company, and other non-historical statements as described in our press release. These forward-looking statements are subject to both known and unknown uncertainties and assumptions, including those related to Altar's growth, market opportunities, and general economic and business conditions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. Although we believe these expectations are reasonable, we undertake no obligation to revise any statement to reflect changes that occur after this call. Descriptions of these and other risks that could cause actual results to differ materially from these forward-looking statements are discussed in our reports filed with the SEC, including our press release that was issued today. During this call, we may present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's press release and can be found on our website at .altaequipment.com. I will now turn the call over to Ryan.

Thank you, Jason. Good afternoon, everyone, and thank you for joining us to review Altar Equipment Group's results for the second quarter of 2025. I'll begin with a high-level overview of our performance, discuss key trends across our business segments, and share our outlook for the remainder of the year. Then I'll turn it over to Tony to walk through our financials in more detail. Amid persistent uncertainty around trade policy, interest rates and broader macro sentiment also delivered a strong second quarter, underscoring the resilience of our diversified model and the advantage created by disciplined operational execution, even as pockets of the market remain volatile. Our construction equipment segment once again demonstrated its strength, driven by robust demand for heavy earth-moving machines, particularly in federal and state DOT infrastructure projects. New and used equipment sales increased by 21.5 million, supported by strong demand in many key markets and improving customer sentiment. Our Midwest and Canadian operations, particularly in aggregate and mining markets through Alt and Midwest Mine, continue to outperform last year, reflecting strong momentum in those sectors. In Florida, the overall market remains resilient, particularly in infrastructure, though we've seen temporary pauses in select private non-residential projects due to a combination of contractor labor constraints and permit timing delays. While construction rental revenue was down from prior year, this was primarily due to our strategic initiative to right-size our rental fleet and the divestiture of aerial fleet assets in Chicago land during the quarter, resulting in a segment fleet size nearly 60 million dollars below the prior year period. We enter the second half of the year with a strong sales backlog, sufficient product support staffing, and accelerated customer interest in both large infrastructure and contact equipment projects. Our material handling segment faced some headwinds this quarter, particularly in Michigan and Illinois, where spending among automotive and general manufacturing customers remained cautious. That said, Alt's performance was notably resilient. Materials handling revenues were modestly up quarter over quarter, driven by a favorable shift in sales mix, specifically increased volumes in used equipment and allied products. Our allied product lines in the material handling segment refer to specialty equipment offerings that serve niche applications, typically commanding higher margins than core new lift truck sales due to their specificity, technical requirements, and limited competitive alternatives. While Hyster Yale reported sober, softer bookings industry-wide, we're seeing a different trend within our business. Bookings momentum across new used and allied categories has remained strong year to date, with encouraging activity in multiple regions and sectors and allied product lines comprising nearly 50% of our new equipment sales year to date. While product support and fleet utilization were modestly down, most regions maintained steady backlogs, and our internal July bookings showed positive signs, particularly in margin and creative categories. Turning to our master distribution segment, we were pleased with the continued improvement of the business, with total revenues increasing 25% to 20.9 million. Our sales team has been focused on driving stronger dealer engagement and expanding channel activity, including strategic and brand expansion across our dealer network. That said, the segment continues to face volatility tied to global trade policies and exchange rates between the U.S. and E.U. We're actively managing those risks and remain focused on margin preservation and inventory velocity. Looking more holistically across all segments, our expense and inventory optimization and initiatives continue to deliver results, with SG&A down over 20 million year to date. We also continue to execute on our capital allocation strategy. During the quarter, we repurchased nearly 1.2 million shares at an average price of $5.64 per share under our $30 million buyback program, which has $17.7 million remaining availability. Looking ahead, our outlook for the balance of the year remains encouraging, especially if we see a definitive conclusion on trade policies and a downward trend in interest rates. Our customers are optimistic about the benefits of the tax incentives contained within the one big, beautiful bill, which could positively impact demand for new equipment across our business lines later this year. The resiliency of our business model and diversity of our end markets continue to provide stability through down cycles and a distinct competitive advantage in the market. I want to express my sincere thanks for the entire ALTA team for their hard work and dedication to the continued success of our business. With that on, I'll turn the call over to Tony, who will walk through our financials in more detail.