Welcome to our dedicated page for Alta Equipment Group news (Ticker: ALTG), a resource for investors and traders seeking the latest updates and insights on Alta Equipment Group stock.
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.
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