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Alta Equipment Group Inc. (NYSE: ALTG) is a premier provider of industrial forklifts, heavy construction equipment, and warehouse solutions in the Midwest. The company’s core commitment is to deliver exceptional service that surpasses customer expectations. By continuous investment in their people, products, and facilities, Alta ensures excellent value and consistent service to its clientele.
Alta Equipment offers a diverse range of products including forklifts, wheel loaders, excavators, pavers, and materials handling products, such as pallet racking, ergonomic equipment, and modular building systems. Core brands under Alta’s portfolio include Hyster and Yale lift trucks, Volvo construction equipment, Combilift forklifts, Link-Belt cranes, and Gomaco concrete pavers.
The company’s operations are divided into two primary segments: Material Handling and Construction Equipment. The Material Handling segment focuses on the sale, service, and rental of lift trucks across several states including Michigan, Illinois, Indiana, New York, Virginia, and the New England states. The Construction Equipment segment handles the sale, service, and rental of heavy construction machinery, operating in Michigan, Indiana, Illinois, Ohio, New York, Florida, and the New England states.
Alta Equipment supports customer needs through a rental fleet of over 1,250 units, a vast inventory of used equipment, flexible fleet maintenance options, operator and technician training courses, and various financing options. The company has achieved significant growth through strategic acquisitions, with 16 acquisitions completed since 2020, contributing significantly to revenue and adjusted EBITDA.
Recently, Alta Equipment announced fourth-quarter and full-year financial results for 2023, showcasing a 21.7% increase in total revenues to $521.5 million for the fourth quarter and a 19.4% rise to $1.9 billion for the year. Despite a net loss available to common stockholders, the company demonstrated substantial progress in revenue growth across its segments, driven by a robust market for its products and services.
Alta Equipment continues to expand its market presence and product portfolio, with over 85 locations across the U.S. and Canada. Notable recent achievements include board-approved quarterly dividends and strategic adjustments to their financial structure to support continued growth and operational efficiency. The company’s CEO, Ryan Greenawalt, emphasizes their diversified growth strategy, strong market indicators, and commitment to providing superior customer support as key drivers for future success.
For more detailed information, visit Alta Equipment's official website.
Alta Equipment Group (NYSE: ALTG) has announced its Board of Directors has approved a quarterly dividend of $0.057 per share on its common stock. The dividend will be paid on February 28, 2025, to shareholders of record as of the close of business on February 15, 2025. Alta Equipment Group operates as a provider of premium material handling, construction and environmental processing equipment and related services.
Alta Equipment Group (NYSE: ALTG) has announced its Board of Directors' approval of a quarterly dividend for its Series A Cumulative Perpetual Preferred Stock. The dividend amounts to $625 per preferred share, which translates to $0.625 per Depositary Share (representing a 1/1000th fractional interest in one Series A Preferred share). The dividend will be paid on January 31, 2025, to shareholders recorded as of the close of business on January 15, 2025. Alta Equipment Group operates as a premium provider of material handling, construction, and environmental processing equipment and related services.
Alta Equipment Group (NYSE: ALTG) reported Q3 2024 financial results with total revenues decreasing by $17.4 million to $448.8 million year-over-year. The company experienced a net loss of $(28.4) million, with basic and diluted net loss per share of $(0.86). While new and used equipment sales declined 13.3% to $219.8 million, product support revenues showed growth of 7.8%. The Construction Equipment segment faced challenges with a 29.5% organic decrease in new and used equipment revenues. The company reduced its net debt by $38.7 million in the quarter and updated its 2024 Adjusted EBITDA guidance to between $170.0-175.0 million. The Board approved an increase in share buyback authorization from $12.5 million to $20.0 million.
Alta Equipment Group (NYSE: ALTG), a provider of premium material handling, construction and environmental processing equipment and services, has scheduled its third quarter 2024 financial results announcement. The company will release results for the quarter ended September 30, 2024, after market close on Tuesday, November 12, 2024, followed by a conference call and webcast at 5:00 p.m. Eastern Time. Management will discuss results and answer questions during the call. Supplementary presentation slides will be available on the company's investor website prior to the call.
Alta Equipment Group (NYSE: ALTG) has declared a quarterly dividend of $0.057 per share on its common stock. The dividend will be paid on November 29, 2024, to shareholders of record as of the close of business on November 15, 2024. Alta Equipment Group operates as a provider of premium material handling, construction and environmental processing equipment and related services.
Alta Equipment Group (NYSE: ALTG) has announced a quarterly dividend on its Series A Cumulative Perpetual Preferred Stock. The dividend is set at $625 per preferred share, which translates to $0.625 per Depositary Share representing a 1/1000th fractional interest in one share of Series A Preferred. The dividend will be paid on October 31, 2024, to shareholders of record as of the close of business on October 15, 2024.
Alta Equipment Group is a leading provider of premium material handling, construction, and environmental processing equipment, along with related services. This dividend announcement demonstrates the company's commitment to providing returns to its preferred shareholders.
Alta Equipment Group Inc. (ALTG) has elected Colin Wilson to its Board of Directors, effective September 1, 2024. Wilson, 70, brings over 40 years of experience in the materials handling industry, including his role as President and CEO of Hyster-Yale Group until his retirement in January 2020. His term will expire at the Company's annual meeting in 2026.
Wilson's extensive background includes leadership positions in various industry associations, such as the Industrial Truck Association of America and the Materials Handling Institute of America. Alta's CEO, Ryan Greenawalt, praised Wilson's industry knowledge and insights, stating that his experience will be beneficial as the company expands its material handling segment.
Alta Equipment Group Inc. (NYSE: ALTG) reported its Q2 2024 financial results. Total revenues increased by $19.7 million year-over-year to $488.1 million. Product support revenues grew 10.1%, with parts sales rising to $78.0 million and service revenues to $66.2 million. However, new and used equipment sales decreased by 1.2% to $251.5 million. The company reported a net loss of $(12.6) million, with basic and diluted net loss per share of $(0.38). Adjusted EBITDA was $50.3 million. Alta updated its 2024 guidance, now expecting Adjusted EBITDA between $190.0 million and $200.0 million. The company also completed a $500.0 million Senior Secured Second Lien Notes offering and amended its credit facilities.
Alta Equipment Group (NYSE: ALTG) has announced a quarterly dividend on its common stock. The Board of Directors approved a dividend of $0.057 per share, payable on August 30, 2024, to shareholders of record at the close of business on August 15, 2024. Alta Equipment Group is a leading provider of premium material handling, construction, and environmental processing equipment, along with related services.
Alta Equipment Group (NYSE: ALTG) has announced the date for its second quarter 2024 financial results release and conference call. The company, a leading provider of premium material handling, construction, and environmental processing equipment, will report its results for the quarter ended June 30, 2024, after U.S. markets close on Wednesday, August 7, 2024.
A conference call and webcast will be held the same day at 5:00 p.m. Eastern Time to discuss the results. Prior to the call, Alta will issue a press release and supplementary presentation slides on the Investors section of their website. The live call can be accessed at (833) 470-1428 (U.S.) or 404-975-4839 (International) with access code 225050. An audio replay will be available until August 21, 2024.
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