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 (ALTG) generates news primarily related to financial performance reporting and corporate governance activities. The company operates in the industrial equipment distribution sector, where quarterly earnings announcements reveal revenue trends across sales, rental, parts, and service operations. Equipment distributors face business cycles influenced by construction activity, manufacturing output, and logistics sector investment in material handling capacity.
Investors tracking Alta Equipment Group news typically monitor earnings releases that break down performance across the company's equipment sales, rental fleet utilization rates, parts revenue, and service contract growth. Distribution companies in the industrial machinery sector report metrics including inventory levels, rental fleet size, and geographic market expansion that indicate business trajectory. Dividend announcements for both common and preferred stock provide insight into capital allocation decisions between reinvestment in rental fleet expansion and shareholder returns.
Corporate governance news includes board composition changes and proxy materials detailing executive compensation structures. Equipment distributors require management teams with expertise in manufacturer relationships, customer financing, fleet management, and service operations. The company's news flow reflects the wholesale trade sector's focus on operational performance rather than product innovation, as distributors resell equipment manufactured by brand partners.
This news feed provides coverage of Alta Equipment Group's quarterly financial results, dividend declarations, board activities, and material events affecting the company's operations in Midwest equipment distribution markets. Bookmark this page to follow developments in industrial equipment wholesale operations and the factors influencing distributor profitability.
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.
Alta Equipment Group (NYSE: ALTG), a leading provider of material handling, construction, and environmental processing equipment, has announced the approval of a quarterly dividend on its Series A Cumulative Perpetual Preferred Stock.
The dividend is set at $625 per preferred share, translating to $0.625 per Depositary Share, each representing a 1/1000th interest in a Series A Preferred share.
The dividend will be paid on July 31, 2024, to shareholders who are recorded as of July 15, 2024.
Alta Equipment Group (NYSE: ALTG) announced the pricing of a $500 million private offering of 9.000% senior secured second lien notes due 2029. These notes were priced at 97.094% of their face value and are set to close on June 5, 2024, pending customary conditions. The proceeds will be used to refinance existing credit facilities and redeem outstanding notes. The notes will be guaranteed by all domestic subsidiaries and secured by a second lien on most company assets. Concurrently, Alta plans to amend and extend its existing credit facilities to new terms and amounts, with the new facilities secured by a first-priority lien on the same assets.
Alta Equipment Group (NYSE: ALTG) announced a proposed private offering of $500 million in senior secured second lien notes due 2029. This offering, subject to market conditions, will be guaranteed by all domestic subsidiaries and secured by a second lien on nearly all company assets. Concurrently, the company plans to amend and extend its existing credit facilities, replacing them with a new $520 million asset-based revolving credit facility and a $90 million floor plan facility, both due 2029. The proceeds will be used to refinance existing facilities, redeem outstanding notes, and for general corporate purposes. The offering aims to be leverage neutral and targets qualified institutional buyers and non-U.S. persons per Rule 144A and Regulation S under the Securities Act.
Alta Equipment Group Inc. (NYSE: ALTG) posted first-quarter 2024 financial results with total revenues reaching $441.6 million, a $20.9 million increase year over year. Construction and Material Handling revenues stood at $255.6 million and $174.3 million, respectively. Product support revenues rose by 6.5% with Parts sales hitting $72.9 million and Service revenues at $64.0 million. New and used equipment sales grew by 4.1% to $228.6 million. Adjusted EBITDA amounted to $34.1 million.
Alta Equipment Group Inc. (NYSE: ALTG) declared a quarterly dividend of $0.057 per share for common stockholders. The dividend payment is scheduled for May 31, 2024, for shareholders on record as of May 15, 2024.
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