ALTG on NYSE

ALTA EQUIPMENT GROUP INC.

American wholesale-industrial machinery and equipment company based in Livonia2

In its 2026 annual report the company says: “We own and operate one of the largest integrated equipment dealership platforms in North America. Through our branch network, we sell, rent, and provide parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment, and allied products.”5 Its shares trade on NYSE under the symbol ALTG.2

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Last updated Oct 21, 2026.

Overview

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  • TickerALTG on NYSE2
  • IndustryWholesale-Industrial Machinery & Equipment2
  • HeadquartersLivonia, United States2
  • Incorporated inDE3
  • Business address13211 Merriman Road, Livonia, Mi 481503
  • Filer categoryAccelerated filer3
  • Legal formCorporation2
  • LEI549300DGOB28CLGS1X272
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address838 WALKER ROAD SUITE 21-2, 19904 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 71271952

We own and operate one of the largest integrated equipment dealership platforms in North America. Through our branch network, we sell, rent, and provide parts and service support for several categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, other construction equipment, and allied products. We engage in five principal business activities in these equipment categories:5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

25.9%Gross margin6
1.3%Operating margin6
-4.4%Net margin6
-2.2%Revenue growth, 20256
$23.8MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

New And Used Equipment Sales brought in 51% of the revenue ALTA EQUIPMENT GROUP INC. broke down this way in fiscal 2025.

  1. New And Used Equipment Sales$999.3M651%up 1% from 2024
  2. Parts Sales$291.0M615%down 1% from 2024
  3. Service$256.7M613%up 1% from 2024
  4. Rental Revenue$179.8M69%down 12% from 2024
  5. Rental Equipment Sales$109.1M66%down 21% from 2024
  6. Design and Build Solutions, Automated Equipment Installation and System Integration and Software Services$67.2M63%down 6% from 2024
  7. Design and Build Projects, Automated Equipment Installation And System Integration Services$40.6M62%up 38% from 2024
Products and services by year
Products and services202320242025
New And Used Equipment Sales$1.0B$987.0M$999.3M
Parts Sales$278.3M$294.4M$291.0M
Service$241.3M$253.8M$256.7M
Rental Revenue$202.4M$203.4M$179.8M
Rental Equipment Sales$128.9M$138.0M$109.1M
Design and Build Solutions, Automated Equipment Installation and System Integration and Software Services$66.9M$71.3M$67.2M
Design and Build Projects, Automated Equipment Installation And System Integration Services$27.7M$29.4M$40.6M

Business segments

Construction brought in 61% of the revenue ALTA EQUIPMENT GROUP INC. broke down this way in fiscal 2025.

  1. Construction$1.1B661%down 1% from 2024
  2. Material Handling$654.3M636%down 5% from 2024
  3. Master Distribution$67.3M64%up 14% from 2024
Business segments by year
Business segments202320242025
Construction$1.1B$1.1B$1.1B
Material Handling$681.5M$687.4M$654.3M
Master Distribution$83.8M$59.2M$67.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue72¢$1.4B
  • Selling, general and admin22¢$422.7M
  • Interest5¢$88.4M
  • Income tax1¢$21.5M

Out of $1.8B in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending28¢$9.2M
  • Dividends paid9¢$3.0M
  • Share buybacks23¢$7.5M
  • Kept or used elsewhere40¢$13.3M

Out of $33.0M of cash from operations.6

Financial statements

Revenue789106$1.8B in 2025+229% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $557.4M$557.4M20192020: $873.6M$873.6M2020+57%2021: $1.2B$1.2B2021+39%2022: $1.6B$1.6B2022+30%2023: $1.9B$1.9B2023+19%2024: $1.9B$1.9B2024−0%2025: $1.8B$1.8B2025−2%
Gross profit789106$474.6M in 2025+212% since 2019
0$200.0M$400.0M$600.0M2019: $152.1M$152.1M20192020: $214.5M$214.5M2020+41%2021: $314.4M$314.4M2021+47%2022: $419.6M$419.6M2022+33%2023: $507.2M$507.2M2023+21%2024: $493.7M$493.7M2024−3%2025: $474.6M$474.6M2025−4%
Operating income789106$23.2M in 2025+98% since 2019
-$20.0M0$20.0M$40.0M$60.0M2019: $11.7M$11.7M20192020: -$8.1M-$8.1M20202021: $18.0M$18.0M20212022: $40.8M$40.8M2022+127%2023: $54.4M$54.4M2023+33%2024: $18.6M$18.6M2024−66%2025: $23.2M$23.2M2025+25%
Net income789106-$80.3M in 2025+127% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M0$25.0M2019: -$35.4M-$35.4M20192020: -$24.0M-$24.0M2020−32%2021: -$20.8M-$20.8M2021−13%2022: $9.3M$9.3M20222023: $8.9M$8.9M2023−4%2024: -$62.1M-$62.1M20242025: -$80.3M-$80.3M2025+29%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Total revenues$1.8B$1.9B$1.9B
Total cost of revenues$1.4B$1.4B$1.4B
Gross profit$474.6M$493.7M$507.2M
Selling, general and administrative expenses$422.7M$446.5M$430.3M
Non-rental depreciation and amortization$28.7M$28.6M$22.5M
Total operating expenses$451.4M$475.1M$452.8M
Income from operations$23.2M$18.6M$54.4M
Interest expense, floor plan payable new equipment-$10.9M-$12.1M-$8.4M
Interest expense other-$77.5M-$69.2M-$48.6M
Other income$1.8M$3.1M$5.1M
Loss on extinguishment of debt-$6.7M
Gain on divestitures$4.6M
Total other expense, net-$82.0M-$84.9M-$51.9M
(Loss) income before taxes-$58.8M-$66.3M$2.5M
Income tax expense (benefit)$21.5M-$4.2M-$6.4M
Net (loss) income-$80.3M-$62.1M$8.9M
Preferred stock dividends-$3.0M-$3.0M-$3.0M
Net (loss) income available to common stockholders-$83.3M-$65.1M$5.9M
Basic (loss) income per share-$2.55-$1.96$0.18
Diluted (loss) income per share-$2.55-$1.96$0.18
Basic weighted average common shares outstanding32.7M shares33.2M shares32.4M shares
Diluted weighted average common shares outstanding32.7M shares33.2M shares32.9M shares

Compare ALTA EQUIPMENT GROUP INC. with another company

Corporate structure

ALTA EQUIPMENT GROUP INC. sits at the top of its group. 9 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ALTA EQUIPMENT GROUP INC.

  • ALTA EQUIPMENT GROUP INC. Livonia, Michigan, United States
    • Alta Canada Holdings Inc. Subsidiary · Ontario, Canada
    • Alta Construction Equipment Subsidiary · New York, United States
    • Alta Construction Equipment New Subsidiary · United Kingdom
    • Alta Industrial Equipment Subsidiary · Michigan, United States
    • Alta Kubota Subsidiary · Michigan, United States
    • Ault Industries, Inc. Subsidiary · Ontario, Canada
    • Peaklogix Canada Inc. Subsidiary · Ontario, Canada
    • Yale Industrial Trucks, Inc. Subsidiary · Ontario, Canada

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ALTA EQUIPMENT GROUP INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$141.0M6 Dec 31, 2025$136.0M6 Dec 31, 2024+3.7%
Property and equipment, net$73.3M6 Dec 31, 2025$81.6M6 Dec 31, 2024−10.2%
Operating-lease assets (leased space)$108.3M6 Dec 31, 2025$113.0M6 Dec 31, 2024−4.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$18.6M6 Dec 31, 2025$13.4M6 Dec 31, 2024+38.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$77.8M6 Dec 31, 2025$77.5M6 Dec 31, 2024+0.4%
Finite-lived intangibles, gross$90.6M6 Dec 31, 2025$86.7M6 Dec 31, 2024+4.5%
Accumulated amortization$42.6M6 Dec 31, 2025$32.0M6 Dec 31, 2024+33.1%
Finite-lived intangibles, net$48.0M6 Dec 31, 2025$54.7M6 Dec 31, 2024−12.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$473.3M6 Dec 31, 2025$535.9M6 Dec 31, 2024−11.7%
Work in process$7.3M6 Dec 31, 2025$7.5M6 Dec 31, 2024−2.7%

Properties, in its own words

As of December 31, 2025, we leased substantially all our facilities used in our operations. These leases are generally with terms ranging from month-to-month at some locations to an expiration date in 2039 and are typically structured to include renewal options at our election. We believe our properties, taken as a whole, are in good operating condition, are suitable and adequate for our current business operations, and that additional or alternative space will be available on commercially reasonable terms for future use and expansion. The number of locations in each state, territory, province or country is shown in the table below, as is the number of locations in our Material Handling (MH), Construction (CE), and Master Distribution (MD) segments. Some locations contain operations in multiple segments but are listed as separate locations below.

United States

The rest of Item 2

Connecticut (MH 1, CE 1) · Maine (MH 1, CE 1) · Ohio (CE 2, MD 1)

Florida (CE 10) · Michigan (MH 11, CE 10) · Pennsylvania (CE 4)

Illinois (MH 4, CE 7) · Nevada (MD 1) · Rhode Island (MH 1)

Indiana (MH 2, CE 1) · New Hampshire (MH 1, CE 2) · Vermont (MH 1)

Massachusetts (MH 4, CE 1) · New York (MH 7, CE 3) · Virginia (MH 1)

Canada

Ontario (MH 3, CE 1) · Quebec (MH 2, CE 1) · Maritime (CE 1)

Item 2 of the 10-K filed Feb 26, 2026.5

Leadership

Who has led ALTA EQUIPMENT GROUP INC., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (17)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Alta Canada Holdings Inc. Ontario, Canada4
  • Alta Construction Equipment New York, LLC (MI)4
  • Alta Construction Equipment New England, LLC (MI)4
  • Alta Industrial Equipment Michigan, LLC (MI)4
  • Alta Kubota Michigan, LLC (MI)4
  • Ault Industries, Inc. Ontario, Canada4
  • Peaklogix Canada Inc. Ontario, Canada4
  • Yale Industrial Trucks, Inc. Ontario, Canada4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • B. Riley Principal Merger Corp.Dec 10, 2018 to Feb 14, 20203

Timeline

  1. Oct 2, 20268-K Other events33
  2. Aug 6, 20268-K Results of operations; Executive or director change34
  3. Jul 2, 20268-K Other events35
  4. May 29, 20268-K Shareholder vote36
  5. May 7, 20268-K Results of operations37
  6. Apr 3, 20268-K Other events38
  7. Feb 26, 20268-K Results of operations39
  8. Jan 22, 20268-K Entered a material agreement40
  9. Jan 7, 20268-K Executive or director change41
  10. Jan 5, 20268-K Other events42
  11. Nov 6, 20258-K Results of operations43
  12. Oct 3, 20258-K Other events44
  13. Feb 19, 2020New chief executive Ryan Greenawalt becomes CEO15
  14. Apr 9, 2019New chief executive Kenneth M. Young becomes CEO16
  15. Oct 30, 2018Founded ALTA EQUIPMENT GROUP INC. is founded2

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.31) a share, on Nov 6, 2025.45

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results34
  2. May 7, 2026Reported quarterly or annual results37
  3. Feb 26, 2026Reported quarterly or annual results39
  4. Nov 6, 2025Reported quarterly or annual results43
  5. Aug 7, 2025Reported quarterly or annual results46
  6. May 7, 2025Reported quarterly or annual results47
  7. Mar 5, 2025Reported quarterly or annual results48
  8. Nov 12, 2024Reported quarterly or annual results49

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

324 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 87 major events, 137 insider forms, 37 large holders, 43 other. The latest 20:

  1. Oct 2, 20268-K EDGAR
  2. Aug 14, 20263 EDGAR
  3. Aug 6, 202610-Q EDGAR
  4. Aug 6, 20268-K EDGAR
  5. Jul 14, 2026SCHEDULE 13G/A EDGAR
  6. Jul 10, 2026SCHEDULE 13G EDGAR
  7. Jul 2, 20268-K EDGAR
  8. Jun 9, 2026S-8 EDGAR
  9. Jun 1, 20264 EDGAR
  10. Jun 1, 20264 EDGAR
  11. Jun 1, 20264 EDGAR
  12. Jun 1, 20264 EDGAR
  13. Jun 1, 20264 EDGAR
  14. May 29, 20268-K EDGAR
  15. May 12, 2026EFFECT EDGAR
  16. May 8, 2026S-3/A EDGAR
  17. May 8, 2026CORRESP EDGAR
  18. May 7, 202610-Q EDGAR
  19. May 7, 20268-K EDGAR
  20. May 6, 2026UPLOAD EDGAR

The 324 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

99 open-market trades by officers, directors and large owners since October 2021: 85 buys and 14 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 13, 2026Mill Road Capital III, L.P.10% ownerBuy3,798$5.95$22.6KForm 4
Mar 12, 2026Mill Road Capital III, L.P.10% ownerBuy58,162$6.10$354.8KForm 4
Mar 11, 2026Nair SidharthaDirectorBuy1,000$6.37$6.4KForm 4
Mar 11, 2026Mill Road Capital III, L.P.10% ownerBuy18,040$6.36$114.7KForm 4
Mar 9, 2026Nair SidharthaDirectorBuy1,000$6.75$6.8KForm 4
Mar 5, 2026Nair SidharthaDirectorBuy1,000$7.00$7.0KForm 4
Mar 3, 2026Nair SidharthaDirectorBuy1,000$7.13$7.1KForm 4
Mar 3, 2026Colucci AnthonyChief Financial OfficerSale8,137$7.05$57.4KForm 4
Mar 3, 2026Greenawalt RyanChief Executive OfficerSale27,986$7.05$197.3KForm 4
Dec 8, 2025Shribman DanielDirectorBuy40,000$5.07$202.8KForm 4
May 30, 2025STUDDERT ANDREW PDirectorBuy3,257$4.81$15.7KForm 4
May 29, 2025STUDDERT ANDREW PDirectorBuy6,743$4.80$32.4KForm 4
Mar 5, 2025Brubaker CraigChief Operating OfficerSale5,294$5.00$26.5KForm 4
Oct 2, 2024Voss Capital, LP10% ownerSale11,311$6.31$71.4KForm 4
Aug 12, 2024STUDDERT ANDREW PDirectorBuy10,000$5.65$56.5KForm 4
Aug 2, 2024LYNCH THOMAS E10% ownerBuy54,200$9.14$495.4KForm 4
Aug 1, 2024LYNCH THOMAS E10% ownerBuy40,014$10.23$409.3KForm 4
Jul 31, 2024LYNCH THOMAS E10% ownerBuy75,486$10.35$781.3KForm 4
Jul 10, 2024LYNCH THOMAS E10% ownerBuy179,414$8.05$1.4MForm 4
Jun 7, 2024Hoover Jeffrey AlanChief Legal OfficerBuy4,000$8.17$32.7KForm 4

All 99 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Ryan Greenawalt,51$846.4K$3.8M61
2025Anthony Colucci,47$501.0K$1.2M61
2025Jeffrey Hoover46$439.3K$1.1M61
2025Craig Brubaker,$334.1K$722.2K61
2024Chairman of the Board and CEO$656.4K$2.4M61
2024CFO$433.9K$1.2M61
2024CLO and General Counsel$364.6K$759.1K61
2024COO$270.5K$521.8K61
2023Chairman of the Board and CEO$635.6K$2.9M61
2023CFO$421.3K$1.4M61
2023COO$257.4K$686.2K61

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Mill Road Capital Management LLC4,373,208$28.3M14.0%No change
BlackRock, Inc.1,661,967$10.8M0.0%+42,202
CastleKnight Management LP1,617,525$10.5M0.4%+632,837
Nantahala Capital Management, LLC1,449,548$9.4M0.3%+514,774
Voss Capital, LP1,176,515$7.6M0.4%−1,247,585
Vanguard Capital Management LLC1,053,534$6.8M0.0%+17,064
First Eagle Investment Management, LLC1,040,000$6.7M0.0%+309,563
Royce & Associates LP1,010,296$6.5M0.1%+449,513
State Street Corp516,614$3.3M0.0%+850
Aqr Capital Management LLC513,876$3.3M0.0%+365,845
Geode Capital Management, LLC510,566$3.3M0.0%+35,654
Dimensional Fund Advisors LP462,637$3.0M0.0%−30,260
Citadel Advisors LLC307,721$2.0M0.0%+34,046
Tudor Investment Corp Et Al275,387$1.8M0.0%+128,087
CIBC Bancorp USA Inc.256,462$1.7M0.0%+115
Point72 Asset Management, L.P.243,692$1.6M0.0%+65,197
Goldman Sachs Group Inc228,846$1.5M0.0%+40,650
Jacobs Levy Equity Management, Inc216,739$1.4M0.0%+95,624
Vanguard Portfolio Management LLC187,063$1.2M0.0%+48,935
Wolverine Asset Management LLC177,840$1.2M0.0%+127,520
Millennium Management LLC172,585$1.1M0.0%+42,953
Northern Trust Corp156,130$1.0M0.0%+327
Bnp Paribas Financial Markets151,899$982.8K0.0%−6,019
RBF Capital, LLC148,760$962.5K0.0%−31,196
Register Financial Advisors LLC146,635$948.7K0.3%+37,524

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ALTA EQUIPMENT GROUP INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARALTA EQUIPMENT GROUP INC.1
  • CIK0001759824
  • Employer ID (EIN)83-25837825
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)5084 Wholesale-Industrial Machinery & Equipment1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address13211 Merriman Road, Livonia, MI 481501
  • Phone(248) 449-67001
  • Shares outstanding32,666,872 as of Aug 4, 202612
  • Public float$162.1M as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, Detroit, Michigan PCAOB ID 34; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceDec 10, 20181
  • Filings519 in all: 4 (159), 8-K (126), 3 (25), SC 13D/A (24), 10-Q (23), SC 13G/A (16), UPLOAD (14), CORRESP (13)1
    All 47 form types

    SC 13G (12), DEFA14A (11), 4/A (9), 424B3 (8), EFFECT (8), 10-K (7), DEF 14A (6), ARS (4), S-1 (4), S-1/A (4), S-8 (4), DRS/A (3), SC 13D (3), SCHEDULE 13G/A (3), 144 (2), 25-NSE (2), 424B5 (2), 8-A12B (2), 8-K/A (2), CERT (2), POS AM (2), S-3 (2), 3/A (1), 424B1 (1), 424B4 (1), 8-A12B/A (1), 8-K12B (1), DEF 14C (1), DEFM14A (1), DRS (1), FWP (1), NT 10-K (1), POS462B (1), PRE 14C (1), PREM14A (1), S-1MEF (1), S-3/A (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 15, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.0001 par value per shareALTGThe New York Stock Exchange
Depositary SharesALTG PRAThe New York Stock Exchange

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks ALTA EQUIPMENT GROUP INC. names in Item 1A of its 10-K filed Feb 26, 2026: 37 risks under these headings, as written.5

  • Risks Related to the Company’s Business and Industry
  • The Company’s business has in the past and could in the future be adversely affected by declines in construction, material handling, and environmental processing activities, or a downturn in the economy in general, which could lead to decreased demand for equipment, depressed equipment rental rates, and lower sales prices, resulting in a decline in the Company’s revenues, gross margins, and operating results.
  • The Company’s inability to forecast trends accurately may adversely impact the Company’s business and financial condition.
  • Changes in global economic and financial markets may have a negative effect on our business.
  • Variations in the Company’s revenues and operating results have in the past and could in the future result in a decline in the Company’s profitability and make it more difficult for the Company to grow our business.
  • The Company is subject to competition, which may have an adverse effect on the Company’s business by reducing the Company’s ability to increase or maintain revenues or profitability.
  • The Company is subject to the ability of our OEMs to deliver cost competitive equipment and parts timely.
  • The Company purchases a significant amount of our equipment from a limited number of manufacturers. Termination of one or more of the Company’s relationships with any of those manufacturers could have an adverse effect on the Company’s business.
  • The Company is dependent upon the success and continued viability of our OEM suppliers for which we are distributors.
  • Some of the Company’s suppliers of new equipment and aftermarket parts may appoint additional distributors, sell directly, or unilaterally terminate the Company’s distribution agreements, which could have an adverse effect on the Company’s business due to a reduction of, or inability to increase, the Company’s revenues.
  • The cost of new equipment the Company sells or purchases for use in our rental fleet may increase and the Company may not be able to pass these increases along to customers or otherwise offset these cost increases in our operation.
  • The Company’s rental fleet and used equipment is subject to market value risk.
The other 26 risks
  • The Company incurs maintenance and repair costs associated with our rental fleet equipment that could have an adverse effect on our business in the event these costs are greater than anticipated.
  • Security breaches and other disruptions in the Company’s IT systems, including the Company’s ERP system, could limit the Company’s capacity to effectively monitor and control our operations, compromise ours or our employees', customers’ and suppliers’ confidential information, or otherwise adversely affect the Company’s operating results or business reputation.
  • Artificial Intelligence ("AI") presents risks and challenges that can impact our business, including by posing security risks to our confidential information, proprietary information and personal data.
  • We have begun to incorporate AI technologies into our products, services and processes. These technologies may present business, compliance and reputational risks.
  • Fluctuations in fuel costs or reduced supplies of fuel could harm the Company’s business.
  • The Company is dependent on key personnel. A loss of key personnel could have an adverse effect on the Company’s business which could result in a decline in the Company’s revenues and profitability.
  • If the Company fails to maintain an effective system of internal controls, the Company may not be able to accurately report financial results or prevent fraud and losses of investor confidence and an adverse impact on our stock price could result.
  • Labor disputes could disrupt the Company’s ability to serve our customers and/or lead to higher labor costs.
  • Increases in healthcare, pension, and other costs under the Company’s benefit plans could adversely affect our financial condition and results of operations.
  • Risks Related to the Company’s Growth, Acquisitions and Integration
  • The Company may not be able to identify or complete transactions with attractive acquisition candidates. Future acquisitions may result in significant transaction expenses, and the Company may experience integration and consolidation risks.
  • The Company may not be able to facilitate our growth strategy by identifying and opening start-up locations, which could limit the Company’s revenues and profitability.
  • If we determine our goodwill or other intangible assets have become impaired, we may incur impairment charges which would negatively impact our operating results.
  • Financial Risks and Risks Related to our Indebtedness and Liquidity
  • The Company’s substantial indebtedness could adversely affect the Company’s financial condition.
  • The Company may not be able to generate sufficient cash flow to service all of the Company’s indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
  • The agreements governing credit facilities may restrict the Company’s business and our ability to engage in certain corporate and financial transactions.
  • The Company relies on OEM captive finance companies to provide floor plan financing primarily for new equipment. This OEM captive floor plan financing provides for a large portion of the Company’s ongoing working capital requirements. The Company’s liquidity position, financial condition, cash flows and results from operations could be adversely affected in the event any of our OEM captive finance company agreements were terminated and/or amended to the detriment of the Company.
  • The Company’s business could be adversely affected if we are unable to obtain additional capital as required and could result in a decrease in the Company’s revenues and profitability. In addition, the Company’s inability to refinance our indebtedness on favorable terms, or at all, could adversely affect the Company’s liquidity and our ongoing results of operations.
  • Unfavorable conditions or disruptions in the capital and credit markets may adversely impact business conditions and the availability of credit.
  • Risk Related to Our Series A Preferred Stock and Depositary Shares
  • The Series A Preferred Stock and the depositary shares rank junior to all our indebtedness and other liabilities and are effectively junior to all indebtedness and other liabilities of our subsidiaries.
  • We may not be able to pay dividends on the Series A Preferred Stock if we have insufficient cash or available ‘surplus’ as defined under Delaware law to make such dividend payments.
  • Our depositary shares representing interests in the Series A Preferred Stock have extremely limited voting rights.
  • Legal and Regulatory Risks Related to the Company’s Operations
  • The Company is exposed to various risks related to legal proceedings or claims that could adversely affect the Company’s operating results. The nature of the Company’s business exposes us to various liability claims, which may exceed the level of the Company’s insurance coverage resulting in the Company not being fully protected.
  • The Company has operations throughout the U.S. and Canada and purchases capital goods from Europe which exposes us to multiple international, federal, state, and local regulations. Changes in applicable law, regulations or requirements, or the Company’s material failure to comply with any of them, can increase the Company’s costs and have other negative impacts on the Company’s business.
  • The Company could be adversely affected by environmental and safety requirements which could force us to use significant capital resources, increase operational costs and/or may subject us to unanticipated liabilities.

Legal proceedings

The information required with respect to this item can be found in Note 11, Contingencies, of the notes to the consolidated financial statements contained in this Annual Report and is incorporated by reference into this Item 3.

The opening of Item 3, Legal Proceedings.5

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