Alta Equipment Group Inc Stock Price, News & Analysis

Alta Equipment Group Inc. (NYSE: ALTG) has announced the acquisition of Baron Industries, a leading dock and door service provider based in Woburn, MA, for under $2 million. This acquisition aims to enhance Alta's capabilities in the loading dock and door equipment sector across New England. Baron reported approximately $6 million in revenue and $400,000 in adjusted EBITDA for the last fiscal year. The deal includes an $800,000 goodwill premium, and is part of Alta’s strategy to expand its warehousing and logistics offerings.

Alta Equipment Group reported strong financial results for Q2 2021, with revenues reaching $292.7 million, a 52.4% increase year-over-year. Key drivers included new and used equipment sales, which grew 38.8%, and a significant rise in parts sales, up 56.9%. Gross profit increased by 66.1% to $76.9 million. The company completed the integration of prior acquisitions, enhancing operational efficiency. With a record backlog and guidance for adjusted EBITDA of $110-$115 million for 2021, Alta is well-positioned for growth.

Alta Equipment Group Inc. (NYSE: ALTG) has entered into a dealer agreement with Nikola Corporation (NASDAQ: NKLA) to sell and service medium and long-haul Class 8 electric vehicles in the northeastern U.S. This partnership enhances Alta's eMobility strategy and aims to fulfill the rising demand for zero-emission commercial vehicles, particularly as states push for reduced greenhouse gas emissions. The agreement positions Alta to leverage its existing expertise and infrastructure in electric vehicle services.

Alta Equipment Group (NYSE: ALTG), a prominent provider of material handling and construction equipment, announced participation in the Jefferies Virtual Industrials Conference on August 3, 2021, at 2:30 p.m. Eastern. CEO Ryan Greenawalt and CFO Tony Colucci will present during virtual investor meetings. A live webcast and replay will be available on their investor relations website, offering insights into the company's operations and strategies. With 36 years in the industry, Alta operates a significant dealership network across multiple states, providing comprehensive equipment solutions.

Alta Equipment Group Inc. (NYSE: ALTG) will report its Q2 2021 financial results on August 12, 2021, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time for management to discuss the results. Investors can access the press release and a supplementary presentation on Alta's website. The company operates a significant equipment dealership network across the U.S. with 55 locations, offering a broad range of specialized equipment and related services.

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 will be paid to shareholders of record as of July 15, 2021, with a payment date set for August 2, 2021. Alta operates a significant equipment dealership platform across several U.S. states and offers a diverse range of material handling and construction equipment.

Alta Equipment Group Inc. (NYSE: ALTG) reported financial results for Q1 2021, showing a 48.9% increase in net revenue to $268.8 million, driven by strong demand and higher sales across equipment, parts, and services. Adjusted EBITDA reached $22.9 million. The company raised $315 million to enhance its capital structure, supporting future growth. Product support revenue grew 36.0% year-over-year, indicating a robust recurring revenue stream. Full-year Adjusted EBITDA guidance is expected between $110 million to $115 million, representing a 35.5% increase over 2020.

Alta Equipment Group Inc. (NYSE: ALTG) will release its financial results for Q1 ended March 31, 2021, on May 13, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time for management to discuss and answer questions regarding the results. The audio replay will be available until May 27, 2021. Alta operates one of the largest integrated equipment dealership platforms in the U.S. with 55 locations across various states, offering a wide range of specialized equipment and services.

Alta Equipment Group Inc. (NYSE: ALTG) has announced its first dividend of $888.89 per share on its Series A Cumulative Perpetual Preferred Stock, approved by the Board of Directors. The dividend is payable on April 30, 2021, to shareholders of record on April 15, 2021. Alta operates one of the largest integrated equipment dealership platforms in the U.S., offering a wide range of material handling and construction equipment services through its 55 locations across several states, including Michigan and Florida.