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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 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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