ALAMO GROUP ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER 2025
Alamo Group (NYSE: ALG) reported third-quarter 2025 results on November 6, 2025. Net sales rose 4.7% to $420.0M. Income from operations was $37.5M (8.9% of sales) and net income was $25.4M or $2.10 per diluted share. Adjusted EPS was $2.34 and Adjusted EBITDA was $55.0M (13.1% of sales), roughly flat year-over-year.
The Industrial Equipment Division delivered $247.0M in sales, up 17.0% (14.5% organic) with Adjusted EBITDA of $38.2M (15.5% margin). The Vegetation Management Division saw sales decline to $173.1M with Adjusted EBITDA of $16.8M (9.7% margin).
Operating cash flow for the nine months was $102.4M; total cash was $244.8M, total debt $209.4M, and revolver availability was $397.2M. A conference call is scheduled for November 7, 2025 at 10:00 a.m. ET.
Alamo Group (NYSE: ALG) ha riportato i risultati del terzo trimestre 2025 il 6 novembre 2025. Vendite nette sono aumentate del 4,7% a $420,0M. Utile operativo è stato di $37,5M (8,9% delle vendite) e utile netto è stato di $25,4M o $2,10 per azione diluita. EPS rettificato è stato $2,34 e EBITDA rettificato è stato $55,0M (13,1% delle vendite), sostanzialmente invariante su base annua.
La Divisione Attrezzature Industriali ha registrato vendite per $247,0M, in aumento del 17,0% (14,5% organico) con EBITDA rettificato di $38,2M (margine 15,5%). La Divisione Gestione della Vegetazione ha visto le vendite scendere a $173,1M con EBITDA rettificato di $16,8M (margine 9,7%).
Il cash flow operativo per i nove mesi è stato $102,4M; la liquidità totale è stata di $244,8M, il debito totale di $209,4M e la disponibilità del revolver è stata di $397,2M. Una conference call è prevista per il 7 novembre 2025 alle ore 10:00 ET.
Alamo Group (NYSE: ALG) informó los resultados del tercer trimestre de 2025 el 6 de noviembre de 2025. Las ventas netas aumentaron un 4,7% a $420,0M. La renta operativa fue de $37,5M (8,9% de las ventas) y la ganancia neta fue de $25,4M o $2,10 por acción diluida. El EPS ajustado fue $2,34 y el EBITDA ajustado fue $55,0M (13,1% de las ventas), prácticamente sin cambios frente al año anterior.
La División de Equipos Industriales entregó $247,0M en ventas, con un aumento del 17,0% (14,5% orgánico) y un EBITDA ajustado de $38,2M (margen del 15,5%). La División de Gestión de la Vegetación registró ventas de $173,1M con un EBITDA ajustado de $16,8M (margen del 9,7%).
El flujo de caja operativo de los nueve meses fue de $102,4M; el efectivo total fue de $244,8M, la deuda total de $209,4M, y la disponibilidad del revolver fue de $397,2M. Se realizará una conferencia telefónica el 7 de noviembre de 2025 a las 10:00 a. m. ET.
Alamo Group (NYSE: ALG)가 2025년 3분기 실적을 2025년 11월 6일 발표했습니다. 순매출은 $420.0M로 4.7% 증가했습니다. 영업이익은 $37.5M(매출의 8.9%)였고 당기순이익은 $25.4M또는 $2.10 주 희석당이었습니다. 조정 주당이익(EPS)은 $2.34였고 조정 EBITDA는 $55.0M로(매출의 13.1%) 연초 대비 거의 변화가 없었습니다.
산업용 장비 부문은 매출 $247.0M를 기록하며 17.0%(유기성장 14.5%) 증가했고 조정 EBITDA는 $38.2M로 마진은 15.5%였습니다. 식생 관리 부문은 매출이 $173.1M로 감소했고 조정 EBITDA는 $16.8M로 마진은 9.7%였습니다.
9개월 간 운전자본 현금흐름은 $102.4M였고 총 현금은 $244.8M, 총 채무는 $209.4M, revolver 가용액은 $397.2M였습니다. 2025년 11월 7일 동부표준시 10:00에 컨퍼런스콜이 예정되어 있습니다.
Alamo Group (NYSE: ALG) a publié les résultats du troisième trimestre 2025 le 6 novembre 2025. Ventes nettes en hausse de 4,7% à $420,0M. Résultat opérationnel s'élevait à $37,5M (8,9% du chiffre d'affaires) et résultat net à $25,4M ou $2,10 par action diluée. EPS ajusté était de $2,34 et EBITDA ajusté de $55,0M (13,1% du chiffre d'affaires), pratiquement stable sur un an.
La Division Équipements Industriels a réalisé $247,0M de ventes, en hausse de 17,0% (14,5% organique) avec un EBITDA ajusté de $38,2M (marge de 15,5%). La Division Gestion de la Végétation a vu ses ventes diminuer à $173,1M avec un EBITDA ajusté de $16,8M (marge de 9,7%).
Le flux de trésorerie opérationnel sur neuf mois était de $102,4M; la trésorerie totale était de $244,8M, la dette totale de $209,4M, et la disponibilité du revolver était de $397,2M. Une conférence téléphonique est prévue le 7 novembre 2025 à 10h00 ET.
Alamo Group (NYSE: ALG) hat die Ergebnisse des dritten Quartals 2025 am 6. November 2025 veröffentlicht. Nettoumsatz stieg um 4,7% auf $420,0M. Das Operative Einkommen betrug $37,5M (8,9% des Umsatzes) und das Nettoergebnis betrug $25,4M bzw. $2,10 pro verwässerter Aktie. Bereinigtes EPS war $2,34 und Bereinigtes EBITDA war $55,0M (13,1% des Umsatzes), grob unverändert zum Vorjahr.
Die Division Industriegeräte lieferte $247,0M an Umsatz, ein Anstieg um 17,0% (14,5% organisch) mit einem bereinigten EBITDA von $38,2M (15,5% Marge). Die Division Vegetationspflege verzeichnete Umsätze von $173,1M mit einem bereinigten EBITDA von $16,8M (9,7% Marge).
Der operative Cashflow für neun Monate betrug $102,4M; das Gesamtkapital betrug $244,8M, die Gesamtschulden $209,4M und die Verfügbarkeit des Revolvers $397,2M. Eine Konferenzschaltung ist für den 7. November 2025 um 10:00 Uhr ET geplant.
Alamo Group (NYSE: ALG) أبلغت عن نتائج الربع الثالث لعام 2025 في 6 نوفمبر 2025. ارتفعت المبيعات الصافية بنحو 4.7% لتصل إلى $420.0M. بلغ الدخل التشغيلي $37.5M (8.9% من المبيعات) وبلغ الدخل الصافي $25.4M أو $2.10 للسهم المخفف. بلغ EPS المعدل $2.34 وبلغ EBITDA المعدل $55.0M (13.1% من المبيعات)، وهو تقريباً ثابت على أساس سنوي.
أنجزت division الهندسية الصناعية مبيعات تبلغ $247.0M بزيادة 17.0% (14.5% عضوي) مع EBITDA المعدل قدره $38.2M وهو هامش 15.5%. أما division إدارة المساحات الخضراء فشهدت مبيعات انخفاضاً إلى $173.1M مع EBITDA معدل قدره $16.8M وهامش 9.7%.
كان التدفق النقدي التشغيلي خلال التسعة أشهر $102.4M؛ وإجمالي النقدية $244.8M، الدين الإجمالي $209.4M، وتوفر الائتمان القابل للسحب $397.2M. من المقرر عقد مكالمة المؤتمر في 7 نوفمبر 2025 الساعة 10:00 صباحاً بتوقيت شرق الولايات المتحدة.
- Industrial sales +17.0% to $247.0M in Q3 2025
- Industrial Adjusted EBITDA +$5.1M YoY to $38.2M
- Adjusted EBITDA steady at $55.0M (13.1% of sales)
- Operating cash flow $102.4M for first nine months
- Liquidity $244.8M cash and $397.2M revolver availability
- Vegetation Adjusted EBITDA down from $21.8M to $16.8M (≈23% decline)
- Vegetation sales declined 9.0% to $173.1M in Q3 2025
Insights
Mixed third-quarter results: sales rose while operating profit and EPS fell; cash and liquidity remain strong.
Alamo Group grew net sales
The company reports strong liquidity with
Key dependencies and near-term monitors include the pace of Vegetation Management operational improvements, trajectory of bookings and backlog in Industrial Equipment, and progress on the stated acquisition pipeline. Watch quarterly bookings, margin recovery in Vegetation Management, and any announced acquisitions over the next
Highlights:
-
Net sales increased
4.7% to compared with the third quarter of 2024$420 million -
Income from operations of
decreased$37.5 million 6.3% versus the third quarter of 2024 -
Fully diluted EPS of
per share decreased$2.10 per share compared to the third quarter of 2024$0.18 -
Adjusted fully diluted EPS of
per share decreased$2.34 per share compared to the third quarter of 2024, which includes CEO transition, acquisition, and restructuring costs(1)$0.04 -
Adjusted EBITDA of
was flat compared to the third quarter of 2024(1)$55.0 million -
Operating cash flow for the first nine months of 2025 was
$102.4 million
Third Quarter Results
Net sales for the third quarter of 2025 were
The Company also reported adjusted net income of
Net sales in the Industrial Equipment Division were
Net sales in the Vegetation Management Division were
Robert Hureau, Alamo Group's President and Chief Executive Officer commented, "The Company's third quarter results were mixed. The Industrial Equipment Division continued to perform exceptionally well, delivering strong year-over-year double digit net sales growth for the seventh consecutive quarter. While Industrial Equipment orders fluctuate from quarter to quarter, year-to-date bookings in the division reflect modest growth and backlog levels remain healthy. In contrast, the Vegetation Management Division continued to experience softness in its end markets, however, bookings in the division slightly improved. Operationally, in the Vegetation Management Division we have consolidated facilities in an effort to reduce fixed costs and improve manufacturing throughput and materials management. To date, we have realized the fixed cost savings. While productivity improvements are tracking more slowly than anticipated, we are advancing our operational initiatives and expect further benefits in the coming quarters."
Operating cash flow for the nine months ended September 30, 2025 was
At September 30, 2025, total debt was
Mr. Hureau added, "With continued strong operating cash flows, ample cash on hand and significant availability under our Revolving Facility, we are well positioned to invest in both organic growth and operating initiatives as well as to deliver on our acquisition strategy. Regarding our acquisition strategy, we are excited about our growing pipeline of opportunities that have a strong strategic fit and attractive financial profiles. We look forward to a further discussion regarding our results and operating strategy during our upcoming Earnings Conference Call."
Earnings Conference Call
The Company will host a conference call to discuss the second quarter results on Friday, November 7th, 2025, at 10:00 a.m. ET. Hosting the call will be members of senior management. Individuals wishing to participate in the conference call should dial (833) 816-1163 (domestic) or (412) 317-1898 (international). For interested individuals unable to join the call, a replay will be available until Friday, November 14, 2025 by dialing (877) 344-7529 (domestic) or (412) 317-0088 (internationally), passcode 5234040.
The live broadcast of Alamo Group Inc.'s quarterly conference call will be available online at the Company's website, www.alamo-group.com (under "Investor Relations/Events and Presentations") on Friday, November 7, 2025, beginning at 10:00 a.m. ET. The online replay will follow shortly after the call ends and will be archived on the Company's website for 60 days.
About Alamo Group
Alamo Group is a leader in the manufacture and sale of high-quality, purpose built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities. Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) and related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,800 employees and operates 27 manufacturing facilities in
Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following:
adverse economic conditions which could lead to a reduction in overall market demand, supply chain and operational disruptions, labor constraints, increasing costs due to inflation, disease outbreaks, geopolitical risks, including tariffs, trade wars, and the effects of the wars in the
(Tables Follow)
(1) This is a non-GAAP financial measure that we have provided to investors in order to allow greater transparency and a deeper understanding of our financial condition and operating results. For a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures, refer to the "Non-GAAP Financial Measures Reconciliation" below and the Attachments thereto.
|
Alamo Group Inc. and Subsidiaries Condensed Consolidated Statements of Income (in thousands, except per share amounts) (Unaudited) |
||||||||
|
|
|
|
|
|
||||
|
|
|
Three Months Ended |
|
Nine Months Ended |
||||
|
|
|
9/30/2025 |
|
9/30/2024 |
|
9/30/2025 |
|
9/30/2024 |
|
Net sales: |
|
|
|
|
|
|
|
|
|
Vegetation Management |
|
$ 173,059 |
|
$ 190,115 |
|
$ 515,307 |
|
$ 625,397 |
|
Industrial Equipment |
|
246,983 |
|
211,186 |
|
714,758 |
|
617,793 |
|
Total net sales |
|
420,042 |
|
401,301 |
|
1,230,065 |
|
1,243,190 |
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
318,359 |
|
300,414 |
|
917,249 |
|
922,490 |
|
Gross profit |
|
101,683 |
|
100,887 |
|
312,816 |
|
320,700 |
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administration expense |
|
59,931 |
|
56,747 |
|
171,397 |
|
178,158 |
|
Amortization expense |
|
4,210 |
|
4,061 |
|
12,337 |
|
12,175 |
|
Income from operations |
|
37,542 |
|
40,079 |
|
129,082 |
|
130,367 |
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
(3,897) |
|
(4,886) |
|
(10,775) |
|
(17,075) |
|
Interest income |
|
1,522 |
|
562 |
|
3,955 |
|
1,877 |
|
Other income (expense) |
|
(210) |
|
(32) |
|
(4,056) |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
34,957 |
|
35,723 |
|
118,206 |
|
115,170 |
|
Provision for income taxes |
|
9,574 |
|
8,318 |
|
29,917 |
|
27,321 |
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ 25,383 |
|
$ 27,405 |
|
$ 88,289 |
|
$ 87,849 |
|
|
|
|
|
|
|
|
|
|
|
Net income per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ 2.11 |
|
$ 2.29 |
|
$ 7.35 |
|
$ 7.34 |
|
|
|
|
|
|
|
|
|
|
|
Diluted |
|
$ 2.10 |
|
$ 2.28 |
|
$ 7.31 |
|
$ 7.30 |
|
|
|
|
|
|
|
|
|
|
|
Average common shares: |
|
|
|
|
|
|
|
|
|
Basic |
|
12,029 |
|
11,977 |
|
12,013 |
|
11,965 |
|
|
|
|
|
|
|
|
|
|
|
Diluted |
|
12,094 |
|
12,041 |
|
12,075 |
|
12,035 |
|
|
|
|
|
|
|
|
|
|
|
Alamo Group Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands) (Unaudited) |
||||||
|
|
|
|
||||
|
|
September 30,
|
September 30,
|
||||
|
ASSETS |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ 244,806 |
|
|
$ 140,038 |
|
|
Accounts receivable, net |
|
335,210 |
|
|
356,617 |
|
|
Inventories |
|
378,166 |
|
|
371,999 |
|
|
Other current assets |
|
21,211 |
|
|
10,950 |
|
|
Total current assets |
|
979,393 |
|
|
879,604 |
|
|
|
|
|
|
|
|
|
|
Rental equipment, net |
|
61,558 |
|
|
47,260 |
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
|
165,887 |
|
|
163,374 |
|
|
|
|
|
|
|
|
|
|
Goodwill |
|
214,429 |
|
|
206,458 |
|
|
Intangible assets |
|
147,322 |
|
|
156,399 |
|
|
Other non-current assets |
|
26,390 |
|
|
28,246 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ 1,594,979 |
|
|
$ 1,481,341 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Trade accounts payable |
|
$ 129,297 |
|
|
$ 97,259 |
|
|
Income taxes payable |
|
— |
|
|
15,687 |
|
|
Accrued liabilities |
|
76,770 |
|
|
84,061 |
|
|
Current maturities of long-term debt and finance lease obligations |
|
15,000 |
|
|
15,009 |
|
|
Total current liabilities |
|
221,067 |
|
|
212,016 |
|
|
|
|
|
|
|
|
|
|
Long-term debt, net of current maturities |
|
194,430 |
|
|
209,157 |
|
|
Long-term tax liability |
|
471 |
|
|
708 |
|
|
Other long-term liabilities |
|
24,423 |
|
|
28,886 |
|
|
Deferred income taxes |
|
21,982 |
|
|
12,854 |
|
|
Total liabilities |
|
462,373 |
|
|
463,621 |
|
|
|
|
|
|
|
|
|
|
Total stockholders' equity |
|
1,132,606 |
|
|
1,017,720 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity |
|
$ 1,594,979 |
|
|
$ 1,481,341 |
|
|
Alamo Group Inc. and Subsidiaries Interim Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited) |
|||
|
|
|
||
|
|
Nine Months Ended September 30, |
||
|
(in thousands) |
2025 |
|
2024 |
|
Operating Activities |
|
|
|
|
Net income |
$ 88,289 |
|
$ 87,849 |
|
Adjustment to reconcile net income to net cash provided by operating activities: |
|
|
|
|
Provision for doubtful accounts |
(46) |
|
1,234 |
|
Depreciation - Property, plant and equipment |
20,144 |
|
20,027 |
|
Depreciation - Rental equipment |
8,719 |
|
7,257 |
|
Amortization of intangibles |
12,337 |
|
12,175 |
|
Amortization of debt issuance |
527 |
|
527 |
|
Stock-based compensation expense |
8,363 |
|
7,185 |
|
Provision for deferred income tax |
8,681 |
|
(2,406) |
|
Gain on sale of property, plant and equipment |
(489) |
|
(789) |
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable |
(18,815) |
|
4,847 |
|
Inventories |
(24,382) |
|
5,451 |
|
Rental equipment |
(17,235) |
|
(15,259) |
|
Prepaid expenses and other assets |
6,200 |
|
(1,583) |
|
Trade accounts payable and accrued liabilities |
37,156 |
|
(804) |
|
Income taxes payable |
(24,860) |
|
3,172 |
|
Long-term tax payable |
(156) |
|
(1,925) |
|
Other long-term liabilities, net |
(2,009) |
|
3,684 |
|
Net cash provided by operating activities |
102,424 |
|
130,642 |
|
|
|
|
|
|
Investing Activities |
|
|
|
|
Acquisitions, net of cash acquired |
(17,582) |
|
— |
|
Purchase of property, plant and equipment |
(25,400) |
|
(18,988) |
|
Proceeds from sale of property, plant and equipment |
1,064 |
|
2,906 |
|
Net cash used in investing activities |
(41,918) |
|
(16,082) |
|
|
|
|
|
|
Financing Activities |
|
|
|
|
Borrowings on bank revolving credit facility |
50,000 |
|
187,000 |
|
Repayments on bank revolving credit facility |
(50,000) |
|
(187,000) |
|
Principal payments on long-term debt and finance leases |
(11,257) |
|
(11,317) |
|
Contingent consideration payment from acquisition |
— |
|
(4,402) |
|
Dividends paid |
(10,805) |
|
(9,329) |
|
Proceeds from exercise of stock options |
1,502 |
|
1,589 |
|
Common stock repurchased |
(3,022) |
|
(1,944) |
|
Net cash used in financing activities |
(23,582) |
|
(25,403) |
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
10,608 |
|
(1,038) |
|
Net change in cash and cash equivalents |
47,532 |
|
88,119 |
|
Cash and cash equivalents at beginning of the year |
197,274 |
|
51,919 |
|
Cash and cash equivalents at end of the period |
$ 244,806 |
|
$ 140,038 |
|
|
|
|
|
|
Cash paid during the period for: |
|
|
|
|
Interest |
$ 10,742 |
|
$ 17,349 |
|
Income taxes |
45,939 |
|
29,004 |
Alamo Group Inc.
Non-GAAP Financial Measures Reconciliation
From time to time, Alamo Group Inc. may disclose certain "Non-GAAP financial measures" in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. For these purposes, "GAAP" refers to generally accepted accounting principles in
Attachment 1 discloses non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income and Adjusted Fully Diluted EPS, related to certain items that the management believes are not indicative of underlying performance. Adjusted Operating Income and Adjusted EBITDA accounts for these impacts on a pre-tax basis and Adjusted Fully Diluted EPS is calculated on a after-tax basis. Management believes isolating certain items from the core operating performance improves comparability across periods, and reflects how management plans and assesses the business. These metrics are supplements to GAAP, not substitutes; reconciliations to GAAP are provided.
Attachment 2 discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division.
Attachment 3 shows the net change in our total debt net of cash, earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA which are non-GAAP financial measures.
Attachment 4 reflects Division performance inclusive of non-GAAP financial measures such as backlog, earnings before interest, tax, depreciation and amortization ("EBITDA") and Adjusted EBITDA. The Company considers this information useful to investors to allow better comparability of period-to-period operating performance.
|
Attachment 1 |
||||||||
|
|
||||||||
|
Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands, except per share numbers) (Unaudited) |
||||||||
|
|
||||||||
|
|
||||||||
|
Adjusted Operating Income, Net Income, and Diluted EPS |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
||||
|
|
|
September 30, |
|
September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
Operating Income - GAAP |
|
$ 37,542 |
|
$ 40,079 |
|
$ 129,082 |
|
$ 130,367 |
|
add: CEO Transition(1) |
|
1,859 |
|
— |
|
2,310 |
|
— |
|
add: Acquisition and Integration Expenses(2) |
|
1,392 |
|
— |
|
1,627 |
|
— |
|
add: Restructuring Expenses(3) |
|
572 |
|
1,607 |
|
1,939 |
|
3,226 |
|
add: Gradall Strike(4) |
|
— |
|
— |
|
— |
|
3,556 |
|
Adjusted Operating Income - non-GAAP |
|
$ 41,365 |
|
$ 41,686 |
|
$ 134,958 |
|
$ 137,149 |
|
|
|
|
|
|
|
|
|
|
|
Net Income - GAAP |
|
$ 25,383 |
|
$ 27,405 |
|
$ 88,289 |
|
$ 87,849 |
|
add: CEO Transition(1), net of tax benefit |
|
1,389 |
|
— |
|
1,725 |
|
— |
|
add: Acquisition and Integration Expenses(2), net of tax |
|
1,040 |
|
— |
|
1,215 |
|
— |
|
add: Restructuring Expenses(3), net of tax benefit |
|
427 |
|
1,226 |
|
1,448 |
|
2,461 |
|
add: Gradall Strike(4), net of tax benefit $ - and |
|
— |
|
— |
|
— |
|
2,705 |
|
Adjusted Net Income - non-GAAP |
|
$ 28,239 |
|
$ 28,631 |
|
$ 92,677 |
|
$ 93,015 |
|
|
|
|
|
|
|
|
|
|
|
Fully Diluted EPS - GAAP |
|
$ 2.10 |
|
$ 2.28 |
|
$ 7.31 |
|
$ 7.30 |
|
add: CEO Transition(1) |
|
0.11 |
|
— |
|
0.14 |
|
— |
|
add: Acquisition and Integration Expenses(2) |
|
0.09 |
|
— |
|
0.10 |
|
— |
|
add: Restructuring Expenses(3) |
|
0.04 |
|
0.10 |
|
0.12 |
|
0.20 |
|
add: Gradall Strike(4) |
|
— |
|
— |
|
— |
|
0.22 |
|
Adjusted Fully Diluted EPS - non-GAAP |
|
$ 2.34 |
|
$ 2.38 |
|
$ 7.67 |
|
$ 7.72 |
|
|
|
|
Notes: |
|
|
1. |
CEO Transition includes accelerated stock compensation, recruiting expenses, and sign-on bonus |
|
2. |
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals |
|
3. |
Restructuring expenses include severance cost, moving and set up cost |
|
4. |
Gradall strike represents lost profitability during the 5-week labor strike in Q2 2024 |
|
Attachment 2 |
|||||||||
|
|
|||||||||
|
Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) |
|||||||||
|
|
|||||||||
|
|
|||||||||
|
Impact of Currency Translation on Net Sales by Division |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
|
Change due to currency |
||||
|
|
2025 |
|
2024 |
|
% change |
|
$ |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
Vegetation Management |
$ 173,059 |
|
$ 190,115 |
|
(9.0) % |
|
$ 2,166 |
|
1.1 % |
|
Industrial Equipment |
246,983 |
|
211,186 |
|
17.0 % |
|
448 |
|
0.2 % |
|
Total net sales |
$ 420,042 |
|
$ 401,301 |
|
4.7 % |
|
$ 2,614 |
|
0.7 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
|
Change due to currency |
||||
|
|
2025 |
|
2024 |
|
% change |
|
$ |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
Vegetation Management |
$ 515,307 |
|
$ 625,397 |
|
(17.6) % |
|
$ 324 |
|
0.1 % |
|
Industrial Equipment |
714,758 |
|
617,793 |
|
15.7 % |
|
(1,996) |
|
(0.3) % |
|
Total net sales |
$ 1,230,065 |
|
$ 1,243,190 |
|
(1.1) % |
|
$ (1,672) |
|
(0.1) % |
|
|
|
|
|
|
|
|
|
|
|
|
Attachment 3 |
||||||
|
|
||||||
|
Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) |
||||||
|
|
||||||
|
Consolidated Net Change of Total Debt, Net of Cash |
||||||
|
|
|
September 30, |
|
September 30, |
|
Net Change |
|
|
|
|
|
|
|
|
|
Current maturities |
|
$ 15,000 |
|
$ 15,009 |
|
|
|
Long-term debt,net of current |
|
194,430 |
|
209,157 |
|
|
|
Total debt |
|
$ 209,430 |
|
$ 224,166 |
|
|
|
|
|
|
|
|
|
|
|
Total cash |
|
244,806 |
|
140,038 |
|
|
|
Total Debt Net of Cash |
|
$ (35,376) |
|
$ 84,128 |
|
$ (119,504) |
|
|
|
|
|
|
|
|
|
EBITDA |
||||||||
|
|
|
Three Months Ended |
|
Nine Months Ended |
||||
|
|
|
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
|
|
|
|
|
|
|
|
|
Net Income |
|
$ 25,383 |
|
$ 27,405 |
|
$ 88,289 |
|
$ 87,849 |
|
|
|
|
|
|
|
|
|
|
|
Interest, net |
|
2,375 |
|
4,324 |
|
6,820 |
|
15,198 |
|
Provision for income taxes |
|
9,574 |
|
8,318 |
|
29,917 |
|
27,321 |
|
Depreciation |
|
9,646 |
|
9,191 |
|
28,863 |
|
27,284 |
|
Amortization |
|
4,210 |
|
4,061 |
|
12,337 |
|
12,175 |
|
EBITDA |
|
$ 51,188 |
|
$ 53,299 |
|
$ 166,226 |
|
$ 169,827 |
|
EBITDA % net sales |
|
12.2 % |
|
13.3 % |
|
13.5 % |
|
13.7 % |
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
add: CEO Transition(1) |
|
$ 1,859 |
|
$ — |
|
$ 2,310 |
|
$ — |
|
add: Acquisition and Integration Expenses(2) |
|
1,392 |
|
— |
|
1,627 |
|
— |
|
add: Restructuring Expenses(3) |
|
572 |
|
1,607 |
|
1,939 |
|
3,226 |
|
add: Gradall Strike(4) |
|
— |
|
— |
|
— |
|
3,556 |
|
Adjusted EBITDA |
|
$ 55,011 |
|
$ 54,906 |
|
$ 172,102 |
|
$ 176,609 |
|
Adjusted EBITDA % net sales |
|
13.1 % |
|
13.7 % |
|
14.0 % |
|
14.2 % |
|
|
|
|
Notes: |
|
|
1. |
CEO Transition includes accelerated stock compensation, recruiting expenses, and sign-on bonus |
|
2. |
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals |
|
3. |
Restructuring expenses include severance cost, moving and set up cost |
|
4. |
Gradall strike represents lost profitability during the 5-week labor strike in Q2 2024 |
|
Attachment 4 |
||||||||
|
|
||||||||
|
Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) |
||||||||
|
|
||||||||
|
Vegetation Management Division Performance |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
Backlog |
|
|
|
|
|
$ 180,232 |
|
$ 185,353 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
$ 173,059 |
|
$ 190,115 |
|
515,307 |
|
625,397 |
|
|
|
|
|
|
|
|
|
|
|
Income from Operations |
|
7,478 |
|
12,404 |
|
33,541 |
|
50,089 |
|
Income from Operations % net sales |
|
4.3 % |
|
6.5 % |
|
6.5 % |
|
8.0 % |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
4,096 |
|
4,457 |
|
12,401 |
|
13,224 |
|
Amortization |
|
2,955 |
|
2,934 |
|
8,821 |
|
8,793 |
|
Other (income) expense |
|
185 |
|
371 |
|
(2,406) |
|
645 |
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
$ 14,714 |
|
$ 20,166 |
|
$ 52,357 |
|
$ 72,751 |
|
EBITDA % net Sales |
|
8.5 % |
|
10.6 % |
|
10.2 % |
|
11.6 % |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
add: CEO Transition(1) |
|
$ 893 |
|
$ — |
|
$ 1,104 |
|
$ — |
|
add: Acquisition and Integration Expenses(2) |
|
668 |
|
— |
|
778 |
|
— |
|
add: Restructuring Expenses(3) |
|
572 |
|
1,607 |
|
1,939 |
|
3,226 |
|
Adjusted EBITDA |
|
$ 16,847 |
|
$ 21,773 |
|
$ 56,178 |
|
$ 75,977 |
|
Adjusted EBITDA % net sales |
|
9.7 % |
|
11.5 % |
|
10.9 % |
|
12.1 % |
|
|
|
|
Notes: |
|
|
1. |
CEO Transition includes accelerated stock compensation, recruiting expenses, and sign-on bonus |
|
2. |
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals |
|
3. |
Restructuring expenses include severance cost, moving and set up cost |
|
Attachment 4 (Continued) |
||||||||
|
|
||||||||
|
Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) |
||||||||
|
|
||||||||
|
Industrial Equipment Division Performance |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
Backlog |
|
|
|
|
|
$ 438,106 |
|
$ 543,425 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
$ 246,983 |
|
$ 211,186 |
|
714,758 |
|
617,793 |
|
|
|
|
|
|
|
|
|
|
|
Income from Operations |
|
30,064 |
|
27,675 |
|
95,541 |
|
80,278 |
|
Income from Operations % net sales |
|
12.2 % |
|
13.1 % |
|
13.4 % |
|
13.0 % |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
5,550 |
|
4,734 |
|
16,462 |
|
14,060 |
|
Amortization |
|
1,255 |
|
1,127 |
|
3,516 |
|
3,382 |
|
Other (income) expense |
|
(395) |
|
(403) |
|
(1,650) |
|
(644) |
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
$ 36,474 |
|
$ 33,133 |
|
$ 113,869 |
|
$ 97,076 |
|
EBITDA % net Sales |
|
14.8 % |
|
15.7 % |
|
15.9 % |
|
15.7 % |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
add: CEO Transition(1) |
|
$ 966 |
|
$ — |
|
$ 1,206 |
|
$ — |
|
add: Acquisition and Integration Expenses(2) |
|
724 |
|
— |
|
849 |
|
— |
|
add: Gradall Strike(3) |
|
— |
|
— |
|
— |
|
3,556 |
|
Adjusted EBITDA |
|
$ 38,164 |
|
$ 33,133 |
|
$ 115,924 |
|
$ 100,632 |
|
Adjusted EBITDA % net sales |
|
15.5 % |
|
15.7 % |
|
16.2 % |
|
16.3 % |
|
|
|
|
Notes: |
|
|
1. |
CEO Transition includes accelerated stock compensation, recruiting expenses, and sign-on bonus |
|
2. |
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals |
|
3. |
Restructuring expenses include severance cost, moving and set up cost |
View original content:https://www.prnewswire.com/news-releases/alamo-group-announces-financial-results-for-the-third-quarter-2025-302607787.html
SOURCE Alamo Group Inc.