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) 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.
Alta Equipment Group Inc. (NYSE: ALTG) announced its acquisition of Midwest Mine Services, enhancing its engineering and design capabilities in the construction sector. Midwest Mine Services, based near Toledo, Ohio, specializes in aggregate processing plants and is well-established in the U.S. market, generating approximately $17 million in revenue and $1.3 million in adjusted EBITDA for the trailing twelve months. The acquisition, expected to close in Q4 2021, will drive synergies and expand Alta's OEM relationships.
Alta Equipment Group reported Q3 2021 financial results with a 33.7% year-over-year increase in net revenues to $295.0 million. Construction and Material Handling revenue reached $184.7 million and $110.3 million, respectively. The adjusted EBITDA grew 43.4% to $31.4 million. However, the company incurred a net loss of $(0.5) million, compared to a profit of $0.3 million in the previous year. Full-year adjusted EBITDA guidance was revised to $113 million to $116 million.
Alta Equipment Group (NYSE: ALTG) is set to release its third quarter financial results on November 11, 2021, after U.S. market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time to discuss the results. The company operates an extensive dealership platform across multiple states, offering a variety of material handling and construction equipment services. With over 55 locations in states including Michigan, Illinois, and Florida, Alta aims to provide comprehensive equipment solutions to its customers.
Alta Equipment Group Inc. (NYSE: ALTG) will host the Innovate 21 conference at Gillette Stadium, Foxboro, MA, on October 14, 2021. This event showcases advancements in robotics, automation, and electrification, featuring the Nikola Tre, a Class 8 Battery-Electric Vehicle (BEV). As Nikola's exclusive dealer for Class 8 BEV/FCEV trucks in several states, Alta plans to start large-scale production of the Tre BEV by Q1 2022, which boasts a 753kWh battery pack, enabling a range of 350 miles and a charging time of around 120 minutes.
Alta Equipment Group Inc. (NYSE: ALTG) has announced a quarterly dividend of $0.625 per share on its Series A Cumulative Perpetual Preferred Stock. This dividend is set for distribution on November 1, 2021, to shareholders recorded by October 15, 2021. The company is a key player in the U.S. material handling and construction equipment sector, with over 55 locations across multiple states, providing a comprehensive suite of services and products.