May, 2024
SEGUIN, Texas, May 2, 2024 -- Alamo Group Inc. (NYSE: ALG) today reported results for the first quarterended March 31, 2024.
Highlights for the Quarter
- - Record net sales of $425.6 million, up 3.4%
- - Industrial Equipment net sales of $201.8 million, up 29.9%
- - Vegetation Management net sales of $223.7 million, down 12.7%
- - Income from operations of $47.0 million, 11.0% of net sale
- - Net income of $32.1 million
- - First quarter EPS of $2.67 per share
- - Trailing twelve-month EBITDA of $246.2 million, stable versus record year-end 2023(1)
- - Total debt net of cash improved $62.2 million or 23.8% compared to first quarter 2023(1)
- - Backlog remained elevated at $831.3 million at the end of the first quarter 2024