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.
Company Overview
Alta Equipment Group Inc (ALTG) stands as an integrated equipment dealership platform offering a comprehensive suite of equipment solutions across the United States. With a foundation built on decades of operational experience, the company provides industrial forklifts, construction equipment, and material handling solutions. At its core, Alta Equipment Group Inc serves a diverse range of industries through an in-depth, service-centric approach that spans direct sales, equipment rental, and dedicated after-sales support. In doing so, it has established itself as a critical resource for businesses seeking reliable, high-quality industrial equipment.
Business Model and Operational Segments
The company’s operations are divided into two principal segments: Material Handling and Construction Equipment. Each segment is structured to address specific market needs. The Material Handling segment focuses on the sale, service, and rental of lift trucks, along with an array of related products. The Construction Equipment segment delivers a broad portfolio that includes heavy earthmoving machinery and associated equipment geared toward construction and infrastructure projects. By operating in key regions such as the Midwest, Northeast, and other strategically important markets, Alta Equipment Group Inc establishes a nationwide presence that caters to the unique requirements of each geographical area.
Products and Services
Alta Equipment Group Inc offers an expansive product range that includes:
- Industrial Forklifts: Advanced, durable forklifts designed for a wide variety of warehousing and materials handling applications.
- Heavy Construction Equipment: A selection of earthmoving machines and equipment essential for large-scale construction and infrastructure projects.
- Materials Handling Solutions: Comprehensive products such as pallet racking systems, ergonomic equipment, and modular building systems, developed to optimize operational efficiency.
In addition to equipment sales, the company offers a robust rental fleet that spans hundreds of units, an inventory of reliable used equipment, tailored maintenance programs, and a suite of training courses for operators and technicians. The integrated service approach ensures clients receive consistent value, whether through flexible financing options or personalized equipment support and maintenance services.
Service and Support Excellence
One of Alta Equipment Group Inc’s defining characteristics is its commitment to excellent customer service. The company boasts an extensive after-sales support network that includes:
- Maintenance Programs: Scheduled and on-demand service plans intended to prolong the life cycle of critical equipment.
- Operator and Technician Training: Programs designed to enhance the safe and efficient operation of equipment, thereby reducing downtime and increasing productivity.
- Flexible Financing Options: A variety of financial solutions aimed at making capital investments more accessible and smoothing cash flow for diverse customer profiles.
This comprehensive support structure underlines Alta Equipment Group Inc’s dedication to providing sustainable equipment solutions that maintain operational continuity for its customers.
Competitive Landscape and Market Position
Within a competitive industry characterized by fast-paced technological advancements and evolving customer needs, Alta Equipment Group Inc differentiates itself through its integrated dealership platform and nationwide branch network. The company actively competes with other major players by offering highly diversified product lines and exceptional after-sales support. Its strategic focus on both the Material Handling and Construction Equipment segments allows it to effectively serve a geographically broad and industry-diverse clientele. Industry-specific service commitments, coupled with a deep understanding of equipment lifecycle management, reinforce its market significance without over-reliance on any single revenue stream.
Customer Focus and Industry Impact
Alta Equipment Group Inc serves an array of customers from small and medium-sized enterprises to large industrial operations. By providing tailored solutions designed to meet the unique demands of different operational environments, the company enhances equipment uptime and operational efficiency. Its client base spans sectors such as manufacturing, warehousing, construction, and infrastructure, where the reliability and performance of industrial equipment are integral to operational success.
Operational Expertise and Integrated Solutions
The strength of Alta Equipment Group Inc lies in its ability to integrate sales, service, and maintenance into a cohesive platform. This one-stop shop approach not only streamlines procurement and operational processes but also fosters long-term reliability and trust amongst its customers. By leveraging its widespread network and deep industry expertise, the company efficiently aligns its product offerings and service commitments to meet the dynamic needs of the market, ensuring a consistent standard of excellence throughout its operations.
Conclusion
In summary, Alta Equipment Group Inc represents a mature and deeply integrated equipment dealership that offers a broad spectrum of equipment solutions through its dual focus on Material Handling and Construction Equipment. Its extensive product range, robust service support, and strategic operational model have positioned it as a comprehensive provider within the industrial landscape. The emphasis on service excellence and integrated operational support reinforces its commitment to delivering enduring value and operational efficiency to its customers, making it a vital component of the industrial equipment sector.
Alta Equipment Group Inc. (NYSE: ALTG) announced it will release its financial results for the first quarter ending March 31, 2022, on May 10, 2022, after U.S. market close. A conference call and webcast will follow at 5:00 p.m. ET on the same day. Investors can access results via a press release and supplementary presentation on the company’s website prior to the call. Alta operates a significant equipment dealership network in the U.S., providing a broad range of construction and material handling equipment and services.
Alta Equipment Group Inc. (NYSE: ALTG) appointed Craig Brubaker as Chief Operating Officer, effective immediately. Brubaker, who joined Alta in 1995 and has served as Vice President of Operations since 2006, brings over 16 years of operational experience to this new role. He will oversee day-to-day operations of the company's material handling and construction equipment segments, under the CEO Ryan Greenawalt's leadership. The company operates one of the largest integrated equipment dealership platforms in the U.S. with over 60 locations across multiple states.
Alta Equipment Group Inc. (NYSE: ALTG) has declared a quarterly dividend of $625 per share on its Series A Cumulative Perpetual Preferred Stock, equating to $0.625 for each outstanding Depositary Share. The dividend will be payable on May 2, 2022, to shareholders on record as of April 15, 2022. This announcement emphasizes the company's ongoing commitment to providing shareholder returns. Alta operates a vast integrated equipment dealership platform across the U.S., specializing in various material handling and construction equipment.
Alta Equipment Group reported strong financial results for Q4 2021, with net revenues up 27.1% year-over-year to $356.3 million. Adjusted EBITDA increased 53.3% to $37.7 million, exceeding guidance. The full-year revenue grew 38.8% to $1,212.8 million, driven by significant growth in Construction and Material Handling segments. Despite a net loss of $(23.4 million for the year, the company expects continued demand and has projected 2022 Adjusted EBITDA guidance of $137 million to $142 million.
Alta Equipment Group Inc. (NYSE: ALTG) has expanded its dealership territory to include Arizona for Nikola Corporation (NASDAQ: NKLA), focusing on zero-emissions vehicles. This agreement replaces Empire Transport and enhances Alta's existing presence in the northeastern U.S. The Tre battery-electric vehicle will be the first Nikola product sold in this territory. Alta's CEO, Ryan Greenawalt, emphasizes the market potential in Arizona for electric vehicles, while Nikola's President, Pablo Koziner, highlights the importance of local dealers as production ramps up in 2022.
Alta Equipment Group (NYSE: ALTG) will reschedule its fourth quarter and full year 2021 earnings release and conference call to March 31, 2022, at 5:00 p.m. Eastern Time. This announcement follows the company's transition to an accelerated filer status after December 31, 2021, which requires a filing deadline of 75 days for its Form 10-K. Alta has submitted a 12b-25 notification to the SEC for a 15-day extension on its filing. The earnings call will be accessible via live call and webcast, and the audio replay will be available until April 14, 2022.
Alta Equipment Group Inc. (NYSE: ALTG) will report its financial results for Q4 and full year ending December 31, 2021, after U.S. markets close on March 16, 2022. Following this, Alta management will host a conference call and webcast at 5:00 p.m. ET to discuss the results. The audio replay will be available until March 30, 2022. Alta operates a large integrated equipment dealership platform in the U.S., with over 60 locations across several states, providing a one-stop-shop for material handling and construction equipment.
Alta Equipment Group Inc. (NYSE: ALTG) announced a quarterly dividend of $0.625 per share on its Series A Cumulative Perpetual Preferred Stock. The dividend payment date is set for January 31, 2022, with shareholders of record on January 15, 2022. This announcement reaffirms Alta's commitment to returning value to shareholders by maintaining consistent dividend payments. Alta operates one of the largest integrated equipment dealership platforms in the U.S., providing various material handling and construction equipment solutions across multiple states.
Alta Equipment Group Inc. (NYSE: ALTG) has announced a definitive agreement to acquire Ginop Sales, Inc., enhancing its construction equipment portfolio in Michigan. This acquisition, which will be finalized by year-end 2021, expands Alta's footprint to ten locations in the state and strengthens its relationship with Kubota, a leading OEM. Ginop, established in 1959, generated approximately $65 million in revenue and $6.5 million in adjusted EBIT for the trailing-twelve-month period ending August 2021.
Alta Equipment Group Inc. (NYSE: ALTG) has announced a definitive agreement to acquire the assets of Ambrose Equipment, a leading asphalt equipment dealer in New England. This acquisition, which is expected to close before year-end, will expand Alta's footprint to 39 locations across 10 states. Ambrose generated approximately $35 million in revenue and has an adjusted EBITDA of $3.1 million for the trailing twelve-month period ended August 2021. This strategic move enhances Alta's diverse equipment portfolio and service capabilities in the region.
FAQ
What is the current stock price of Alta Equipment Group (ALTG)?
What is the market cap of Alta Equipment Group (ALTG)?
What segments does Alta Equipment Group Inc operate in?
What range of products and services does the company offer?
In which regions is Alta Equipment Group Inc active?
How does Alta Equipment Group differentiate itself from competitors?
Who are the primary customers of Alta Equipment Group Inc?
What post-sale support does Alta Equipment offer?
