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 an integrated equipment dealership platform focused on premium material handling, construction and environmental processing equipment and related services. News about Alta often centers on how its equipment sales, rentals, parts and service activities perform across its Material Handling and Construction Equipment segments.
On this page, readers can follow company announcements about quarterly and annual financial results, where Alta reports trends in new and used equipment sales, product support revenues, rental activity and segment performance. Earnings releases typically include management commentary on market conditions in material handling and construction end markets, as well as updates on cost initiatives and rental fleet optimization.
Alta’s news flow also includes board actions on capital allocation, such as declarations of dividends on its 10% Series A Cumulative Perpetual Preferred Stock and prior decisions regarding common stock dividends and share repurchase authorizations. These updates provide context on how the company balances debt reduction, preferred dividends and common equity repurchases.
In addition, Alta issues press releases about business divestitures and portfolio adjustments, including sales of selected rental or service businesses that do not align with its strategic priorities. Such items help investors understand how Alta refines its focus within material handling, construction equipment and environmental processing equipment. For ongoing insight into ALTG, this news feed brings together financial results, capital allocation decisions and operational updates in one place.
Alta Equipment Group (NYSE: ALTG) reported a 20.3% increase in total revenues for Q4 2022, totaling $428.6 million, driven primarily by strong performance in Construction and Material Handling. Full-year revenues rose 29.6% year-over-year to $1.571 billion. The company achieved a net income of $6.3 million, a significant improvement from the previous year's loss of $23.4 million. Adjusted EBITDA increased 31.8% to $158.1 million, exceeding guidance. Alta also initiated a $0.057 quarterly dividend and announced plans for a $12.5 million share repurchase program. For 2023, adjusted EBITDA guidance is set between $177 million and $185 million.
Alta Equipment Group Inc. (NYSE: ALTG) will report its financial results for Q4 and the year ended December 31, 2022, on March 9, 2023, after U.S. market close. A conference call will follow at 5:00 p.m. ET to discuss the results. The company's dealership network spans over 70 locations across the U.S. and Canada, offering a wide range of specialized equipment. Investors can access the results and related materials on the company’s website.
The audio replay of the call will be available until March 23, 2023.
Alta Equipment Group Inc. (NYSE: ALTG) has declared a quarterly dividend of $0.057 per share, payable on February 28, 2023, to shareholders of record as of February 15, 2023. The company, a prominent provider of material handling and construction equipment, operates over 70 locations across several states, offering a wide range of specialized equipment and services. This dividend reflects Alta's ongoing commitment to returning value to its shareholders, underpinning its position in the equipment dealership market.
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.