Alta Equipment Group Inc Stock Price, News & Analysis

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.

Alta Equipment Group (NYSE: ALTG) will reschedule its fourth quarter and full year 2021 earnings release and conference call to March 31, 2022, at 5:00 p.m. Eastern Time. This announcement follows the company's transition to an accelerated filer status after December 31, 2021, which requires a filing deadline of 75 days for its Form 10-K. Alta has submitted a 12b-25 notification to the SEC for a 15-day extension on its filing. The earnings call will be accessible via live call and webcast, and the audio replay will be available until April 14, 2022.

Alta Equipment Group Inc. (NYSE: ALTG) will report its financial results for Q4 and full year ending December 31, 2021, after U.S. markets close on March 16, 2022. Following this, Alta management will host a conference call and webcast at 5:00 p.m. ET to discuss the results. The audio replay will be available until March 30, 2022. Alta operates a large integrated equipment dealership platform in the U.S., with over 60 locations across several states, providing a one-stop-shop for material handling and construction equipment.

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 payment date is set for January 31, 2022, with shareholders of record on January 15, 2022. This announcement reaffirms Alta's commitment to returning value to shareholders by maintaining consistent dividend payments. Alta operates one of the largest integrated equipment dealership platforms in the U.S., providing various material handling and construction equipment solutions across multiple states.

Alta Equipment Group Inc. (NYSE: ALTG) has announced a definitive agreement to acquire Ginop Sales, Inc., enhancing its construction equipment portfolio in Michigan. This acquisition, which will be finalized by year-end 2021, expands Alta's footprint to ten locations in the state and strengthens its relationship with Kubota, a leading OEM. Ginop, established in 1959, generated approximately $65 million in revenue and $6.5 million in adjusted EBIT for the trailing-twelve-month period ending August 2021.

Alta Equipment Group Inc. (NYSE: ALTG) has announced a definitive agreement to acquire the assets of Ambrose Equipment, a leading asphalt equipment dealer in New England. This acquisition, which is expected to close before year-end, will expand Alta's footprint to 39 locations across 10 states. Ambrose generated approximately $35 million in revenue and has an adjusted EBITDA of $3.1 million for the trailing twelve-month period ended August 2021. This strategic move enhances Alta's diverse equipment portfolio and service capabilities in the region.