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 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.
Alta Equipment Group Inc. (NYSE: ALTG) has announced the acquisition of Yale Industrial Trucks, Inc. (YIT), a prominent dealer in Canada, with a total revenue of approximately $46.6 million and an adjusted EBITDA of $9.4 million in the last twelve months. This acquisition expands Alta's market presence into southeastern Canada, covering major population areas like Toronto and Montreal. The total enterprise value for the acquisition is estimated at $33.5 million, with expected completion in Q3. This move aligns with Alta's strategy to enhance its Material Handling business.
Alta Equipment Group Inc. (NYSE: ALTG) announced a quarterly dividend of $0.625 per share on its Series A Cumulative Perpetual Preferred Stock. This dividend will be paid on August 1, 2022, to shareholders of record by the close of business on July 15, 2022. Alta has established itself as a prominent dealer of material handling and construction equipment, operating over 60 locations across multiple states.
Alta Equipment Group (NYSE: ALTG) reported first quarter 2022 net revenues of $331.7 million, a 23.4% increase year-over-year. Notable segments include Construction at $206.1 million and Material Handling at $125.6 million. Despite a net loss of $(2.0) million, an improvement from $(5.7) million in 2021, adjusted EBITDA grew 30.4% to $30.0 million. The company maintains its full-year guidance for adjusted EBITDA between $137 million and $142 million, driven by strong demand and operational excellence.
Alta Equipment Group Inc. (NYSE: ALTG) announced it will release its financial results for the first quarter ending March 31, 2022, on May 10, 2022, after U.S. market close. A conference call and webcast will follow at 5:00 p.m. ET on the same day. Investors can access results via a press release and supplementary presentation on the company’s website prior to the call. Alta operates a significant equipment dealership network in the U.S., providing a broad range of construction and material handling equipment and services.
Alta Equipment Group Inc. (NYSE: ALTG) appointed Craig Brubaker as Chief Operating Officer, effective immediately. Brubaker, who joined Alta in 1995 and has served as Vice President of Operations since 2006, brings over 16 years of operational experience to this new role. He will oversee day-to-day operations of the company's material handling and construction equipment segments, under the CEO Ryan Greenawalt's leadership. The company operates one of the largest integrated equipment dealership platforms in the U.S. with over 60 locations across multiple states.
Alta Equipment Group Inc. (NYSE: ALTG) has declared a quarterly dividend of $625 per share on its Series A Cumulative Perpetual Preferred Stock, equating to $0.625 for each outstanding Depositary Share. The dividend will be payable on May 2, 2022, to shareholders on record as of April 15, 2022. This announcement emphasizes the company's ongoing commitment to providing shareholder returns. Alta operates a vast integrated equipment dealership platform across the U.S., specializing in various material handling and construction equipment.
Alta Equipment Group reported strong financial results for Q4 2021, with net revenues up 27.1% year-over-year to $356.3 million. Adjusted EBITDA increased 53.3% to $37.7 million, exceeding guidance. The full-year revenue grew 38.8% to $1,212.8 million, driven by significant growth in Construction and Material Handling segments. Despite a net loss of $(23.4 million for the year, the company expects continued demand and has projected 2022 Adjusted EBITDA guidance of $137 million to $142 million.
Alta Equipment Group Inc. (NYSE: ALTG) has expanded its dealership territory to include Arizona for Nikola Corporation (NASDAQ: NKLA), focusing on zero-emissions vehicles. This agreement replaces Empire Transport and enhances Alta's existing presence in the northeastern U.S. The Tre battery-electric vehicle will be the first Nikola product sold in this territory. Alta's CEO, Ryan Greenawalt, emphasizes the market potential in Arizona for electric vehicles, while Nikola's President, Pablo Koziner, highlights the importance of local dealers as production ramps up in 2022.