STOCK TITAN

Alta Equipment Group Inc. - ALTG STOCK NEWS

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.

Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.56%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.36%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.22%
Tags
dividends
Rhea-AI Summary
Alta Equipment Group Inc. (NYSE: ALTG) will release its first quarter 2024 financial results on May 8, 2024, after the U.S. markets close. The company will also host a conference call and webcast to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.17%
Tags
-
Rhea-AI Summary
Alta Equipment Group Inc. announces a board refreshment with the appointment of new committee chairs and the resignation of Zachary Savas. Katherine White is appointed as the Chair of the Nominating and Governance Committee, and Sidhartha Nair as the Chair of the Compensation Committee.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.41%
Tags
none
-
Rhea-AI Summary
Alta Equipment Group Inc. (ALTG) declares a quarterly dividend of $625 per preferred share, equating to $0.625 per Depositary Share. The dividend payment date is April 30, 2024, for shareholders of record on April 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.2%
Tags
dividends
Rhea-AI Summary
Alta Equipment Group Inc. (NYSE: ALTG) reported strong financial results for the fourth quarter and full year ended December 31, 2023. Total revenues increased 21.7% year over year to $521.5 million in Q4 and $1,876.8 million for the full year. Adjusted EBITDA grew 16.4% to $49.7 million in Q4 and 21.1% to $191.4 million for the full year. The company completed acquisitions of Burris Equipment Company and Ault Industries Inc. Alta's CEO, Ryan Greenawalt, highlighted the success of their diversified growth strategy and positive outlook for 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.14%
Tags
-
Rhea-AI Summary
Alta Equipment Group Inc. to report Q4 and year-end financial results on March 14, 2024. Conference call scheduled to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.96%
Tags
-
Rhea-AI Summary
Alta Equipment Group Inc. appoints Sidhartha Nair to its Board of Directors, expanding the Board's size to six members. Mr. Nair, with extensive experience in business leadership and digital transformation, joins Alta to enhance growth and market position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.01%
Tags
management
Rhea-AI Summary
Alta Equipment Group Inc. (ALTG) has announced a quarterly dividend of $0.057 per share for its common stock, with a payment date of February 29, 2024. The dividend is approved by the Board of Directors and will be distributed to shareholders of record as of February 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.99%
Tags
dividends

FAQ

What is the current stock price of Alta Equipment Group (ALTG)?

The current stock price of Alta Equipment Group (ALTG) is $8.06 as of December 6, 2024.

What is the market cap of Alta Equipment Group (ALTG)?

The market cap of Alta Equipment Group (ALTG) is approximately 265.2M.

What does Alta Equipment Group Inc. specialize in?

Alta Equipment Group Inc. specializes in industrial forklifts, heavy construction equipment, and warehouse solutions, providing sales, service, and rental of equipment.

What are the main segments of Alta Equipment Group Inc.?

The main segments are Material Handling and Construction Equipment, focusing on sales, service, and rental of lift trucks and construction machinery.

Where does Alta Equipment Group Inc. operate?

Alta Equipment operates across the Midwest, Eastern U.S., and parts of Canada, with over 85 locations in states like Michigan, Illinois, Indiana, Ohio, and more.

What brands does Alta Equipment Group Inc. represent?

Alta represents brands such as Hyster, Yale, Volvo, Combilift, Link-Belt, and Gomaco, offering a range of equipment from lift trucks to concrete pavers.

What recent financial achievements has Alta Equipment Group Inc. reported?

Alta Equipment reported a 21.7% increase in revenues in Q4 2023, with total revenues reaching $521.5 million for the quarter and $1.9 billion for the year.

What are some recent developments for Alta Equipment Group Inc.?

Recent developments include quarterly dividends approval, financial results announcements, and strategic acquisition integrations contributing to revenue growth.

How does Alta Equipment Group Inc. support its customers?

Alta supports customers with a rental fleet, used equipment inventory, fleet maintenance options, training courses, and various financing solutions.

What growth strategy is Alta Equipment Group Inc. pursuing?

Alta is focused on organic growth, strategic acquisitions, expanding market share, enhancing product portfolio, and investing in rental fleets and new territories.

What is Alta Equipment Group Inc.'s approach to customer service?

Alta prioritizes providing outstanding service that exceeds customer expectations, ensuring excellent value and consistent service through investment in people, products, and facilities.

Where can I find more information about Alta Equipment Group Inc.?

More information can be found on Alta Equipment's official website at www.altaequipment.com.

Alta Equipment Group Inc.

NYSE:ALTG

ALTG Rankings

ALTG Stock Data

265.22M
20.19M
26.59%
69.77%
9.2%
Rental & Leasing Services
Wholesale-industrial Machinery & Equipment
Link
United States of America
LIVONIA