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) has entered into a dealer agreement with Nikola Corporation (NASDAQ: NKLA) to sell and service medium and long-haul Class 8 electric vehicles in the northeastern U.S. This partnership enhances Alta's eMobility strategy and aims to fulfill the rising demand for zero-emission commercial vehicles, particularly as states push for reduced greenhouse gas emissions. The agreement positions Alta to leverage its existing expertise and infrastructure in electric vehicle services.
Alta Equipment Group (NYSE: ALTG), a prominent provider of material handling and construction equipment, announced participation in the Jefferies Virtual Industrials Conference on August 3, 2021, at 2:30 p.m. Eastern. CEO Ryan Greenawalt and CFO Tony Colucci will present during virtual investor meetings. A live webcast and replay will be available on their investor relations website, offering insights into the company's operations and strategies. With 36 years in the industry, Alta operates a significant dealership network across multiple states, providing comprehensive equipment solutions.
Alta Equipment Group Inc. (NYSE: ALTG) will report its Q2 2021 financial results on August 12, 2021, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time for management to discuss the results. Investors can access the press release and a supplementary presentation on Alta's website. The company operates a significant equipment dealership network across the U.S. with 55 locations, offering a broad range of specialized equipment and related services.
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 will be paid to shareholders of record as of July 15, 2021, with a payment date set for August 2, 2021. Alta operates a significant equipment dealership platform across several U.S. states and offers a diverse range of material handling and construction equipment.
Alta Equipment Group Inc. (NYSE: ALTG) reported financial results for Q1 2021, showing a 48.9% increase in net revenue to $268.8 million, driven by strong demand and higher sales across equipment, parts, and services. Adjusted EBITDA reached $22.9 million. The company raised $315 million to enhance its capital structure, supporting future growth. Product support revenue grew 36.0% year-over-year, indicating a robust recurring revenue stream. Full-year Adjusted EBITDA guidance is expected between $110 million to $115 million, representing a 35.5% increase over 2020.
Alta Equipment Group Inc. (NYSE: ALTG) will release its financial results for Q1 ended March 31, 2021, on May 13, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time for management to discuss and answer questions regarding the results. The audio replay will be available until May 27, 2021. Alta operates one of the largest integrated equipment dealership platforms in the U.S. with 55 locations across various states, offering a wide range of specialized equipment and services.
Alta Equipment Group Inc. (NYSE: ALTG) has announced its first dividend of $888.89 per share on its Series A Cumulative Perpetual Preferred Stock, approved by the Board of Directors. The dividend is payable on April 30, 2021, to shareholders of record on April 15, 2021. Alta operates one of the largest integrated equipment dealership platforms in the U.S., offering a wide range of material handling and construction equipment services through its 55 locations across several states, including Michigan and Florida.
Alta Equipment Group Inc. (NYSE: ALTG) has priced its private offering of $315 million in 5.625% senior secured second lien notes due 2026, increasing from the previously announced $300 million. The offering is set to close on April 1, 2021, pending customary conditions. The notes are secured by a second lien on the company's assets and will be guaranteed by all subsidiaries. Proceeds will be used to repay existing debts and for corporate purposes. The company plans to refinance senior credit obligations under new credit agreements totaling $390 million.
Alta Equipment Group Inc. (NYSE: ALTG) announced a private offering of $300 million in senior secured second lien notes due 2026. This offering is exempt from registration under the Securities Act. The notes are guaranteed by all subsidiaries and secured by a second lien on the company's assets. Concurrently, Alta plans to refinance its existing senior credit obligations through a $350 million amended credit agreement and a $40 million floor plan financing agreement. Proceeds will be used to repay existing debt, cover offering expenses, and for general corporate purposes.
Alta Equipment Group reported strong financial performance for Q4 2020, with net revenues reaching $280.4 million, a 65.5% increase year-over-year. Key growth areas include new and used equipment sales, which surged by 74.3%, and rental equipment sales, which skyrocketed by 148.1%. The company completed seven acquisitions in 2020, enhancing its market presence and product offerings. Despite these gains, net loss for the quarter was $3.2 million, significantly lower than the previous year's loss, reflecting improved operational efficiency. Alta anticipates continued growth in 2021 driven by positive market trends.
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