Alta Equipment Group Inc Stock Price, News & Analysis

Alta Equipment Group Inc. (NYSE: ALTG) has announced a quarterly dividend of $0.625 per share on its Series A Cumulative Perpetual Preferred Stock. The dividend payment date is January 31, 2023, for shareholders on record as of January 15, 2023. As a prominent equipment dealership, Alta provides a diverse range of material handling and construction equipment across the U.S., with over 65 locations in states including Michigan, Illinois, Indiana, and New York.

Alta Equipment Group Inc. (NYSE: ALTG) reported strong third quarter results for 2022, with total revenues up 37.3% year over year to $405.0 million. Key segments include Construction and Material Handling revenue of $249.7 million and Product Support revenue of $116.1 million. The company achieved net income of $4.4 million, reversing a loss of $(0.6) million in 2021. Adjusted EBITDA grew 39.2% to $44.0 million. Alta is optimistic about continued growth, driven by a robust M&A strategy and favorable market conditions.

Alta Equipment Group Inc. (NYSE: ALTG) announced a quarterly dividend of $0.057 per share, payable on November 30, 2022, to shareholders recorded by November 15, 2022. The company, with 38 years of experience, operates a broad network of over 65 locations across several states and Canada, offering a wide range of material handling and construction equipment. Alta aims to enhance shareholder value through consistent dividends while maintaining its leadership position in the equipment dealership sector.

Alta Equipment Group Inc. (NYSE: ALTG) will report its third-quarter financial results for the period ending September 30, 2022, on November 9, 2022, after U.S. market close. A conference call and webcast are scheduled for the same day at 5:00 p.m. Eastern Time to discuss the results. The press release will be available on the Company's website prior to the call. Alta operates one of the largest integrated equipment dealership platforms in the U.S., offering a wide range of material handling and construction equipment.

Alta Equipment Group has announced its acquisition of Ecoverse Industries for a total purchase price of up to $67 million, including cash and stock. This strategic move grants Alta exclusive distribution rights for environmental processing equipment in North America, leveraging Ecoverse's strong market presence and financial performance, with $64.3 million in revenue and $10.0 million in net income reported for the trailing twelve months. The deal is expected to enhance Alta's profitability and free cash flow conversion, positioning them as an industry leader in eco-friendly waste solutions.

Alta Equipment Group Inc. (NYSE: ALTG) announced a quarterly dividend of $0.625 per share on its Series A Cumulative Perpetual Preferred Stock. Shareholders of record by October 15, 2022 will receive the payment on October 31, 2022. Alta is a prominent provider of material handling and construction equipment in the U.S., with a network of over 65 locations across several states. This dividend reflects the company's commitment to delivering shareholder value.

Alta Equipment Group reported a 38.9% increase in total revenues, reaching $406.5 million for Q2 2022, driven by strong demand in construction and material handling sectors. The company's net income surged to $5.4 million, a significant turnaround from a $15.8 million loss in 2021. Adjusted EBITDA grew 45.3% to $41.4 million. Alta has raised its Adjusted EBITDA guidance for 2022 to between $147 million and $152 million. Additionally, the company announced a quarterly dividend of $0.057 per share and a repurchase program of up to $12.5 million in stock.

Alta Equipment Group Inc. (NYSE: ALTG) will announce its financial results for the second quarter ended June 30, 2022, on August 9, 2022, after U.S. markets close. A conference call and webcast will be held at 5:00 p.m. Eastern Time to discuss these results. The audio replay will be available until August 23, 2022. Alta is a major provider of material handling and construction equipment, operating over 60 locations across several states, including Michigan, New York, and Virginia. Details can be found on the Investor Relations website.

Alta Equipment Group Inc. (NYSE: ALTG) has initiated a quarterly common stock dividend of $0.057 per share, amounting to approximately $0.23 per share annually. The first dividend payment is scheduled for August 31, 2022, to shareholders of record as of August 15, 2022. Furthermore, the Board approved a $12.5 million share repurchase program to acquire shares when they are trading below intrinsic value. CEO Ryan Greenawalt emphasized a balanced capital allocation approach, supporting both shareholder returns and strategic growth opportunities.