UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____ TO ____ Commission file number 0-21220 ALAMO GROUP INC. (Exact name of registrant as specified in its charter) Delaware 74-1621248 (State or other jurisdiction ...

Financial Performance - Net sales for Q3 2024 were $401.3 million, a decrease of 4.4% compared to $419.6 million in Q3 2023[2] - Net income for Q3 2024 was $27.4 million, down from $34.9 million in Q3 2023, resulting in a fully diluted EPS of $2.28[4] - Year-to-date net sales for the first nine months of 2024 were $1.2 billion, a decrease of 2.3% compared to the same period in 2023[5] - Gross margin for Q3 2024 was 25.1%, down from 27.2% in Q3 2023[22] - Adjusted net income for Q3 2024, including workforce reduction impact, was $28,631[25] - EBITDA for the nine months ended September 30, 2024, was $170,353, down from $188,835 in the same period of 2023[29] - EBITDA for the three months ended September 30, 2024, was $33,614 thousand, up from $24,696 thousand, indicating a growth of 36.0%[31] - EBITDA margin improved to 15.9% from 14.3% year-over-year, maintaining a consistent margin of 15.9% for the nine months ended September 30, 2024[31] - Income from Operations rose to $27,675 thousand, compared to $19,502 thousand in the prior year, marking an increase of 41.8%[31] - Income from Operations for the nine months ended September 30, 2024, was $80,278 thousand, up from $50,849 thousand, representing a significant increase of 57.9%[31] Sales Performance by Division - Industrial Equipment Division net sales increased by 22.3% to $211.2 million, while Vegetation Management Division net sales decreased by 23.0% to $190.1 million[2] - Vegetation Management segment sales decreased by 23.0% to $190,115 in Q3 2024 from $246,902 in Q3 2023[26] - Industrial Equipment segment sales increased by 22.3% to $211,186 in Q3 2024 from $172,742 in Q3 2023[26] - Net Sales for the three months ended September 30, 2024, reached $211,186 thousand, up from $172,742 thousand in the same period last year, reflecting a growth of 22.1%[31] - For the nine months ended September 30, 2024, Net Sales totaled $617,793 thousand, compared to $507,426 thousand in the same period last year, reflecting a growth of 21.7%[31] Backlog and Capacity - The company's backlog at the end of Q3 2024 was $728.8 million, with a 52% decline in the Vegetation Management Division backlog, while the Industrial Equipment Division backlog grew by 8.5% year-over-year[4] - Backlog for the Vegetation Management division was $185,353 as of September 30, 2024, compared to $390,206 in 2023[30] - Backlog increased to $543,425 thousand from $500,661 thousand year-over-year, representing a growth of approximately 8.5%[31] Cost Management and Workforce - The company is targeting annualized cost savings of $25 to $30 million through ongoing cost-saving initiatives, including workforce reductions and plant consolidations[7] - The company incurred approximately $1.6 million in workforce reduction expenses in Q3 2024 and expects total costs to be between $4.0 million to $4.5 million[7] - The company has reduced its worldwide total production capacity by approximately 8% due to facility consolidations and personnel reductions[12] Debt and Cash Position - Total debt net of cash improved by $126.2 million or 60.0% compared to Q3 2023, totaling $84.1 million[2] - Total debt decreased to $224,166 in Q3 2024 from $323,900 in Q3 2023, with total cash increasing to $140,038[28] Market Outlook - The company anticipates no significant improvement in the agricultural equipment market until late 2025, while expecting strong governmental demand for products into the first half of 2025[13][14] - The company continues to focus on market expansion and new product development as part of its growth strategy[31] - The financial performance indicates a strong operational efficiency and positive outlook for future quarters[31]

ALG-055009 dose groups met the primary endpoint with statistically significant reductions in liver fat at Week 12 as measured by MRI-PDFFPlacebo-adjusted median relative reductions in liver fat were up to 46.2% with a clear dose responseALG-055009 was well-tolerated with no serious adverse events or dose reductions. Importantly, ALG-055009 dose groups had a similar incidence of gastrointestinal-related adverse events with less diarrhea compared to placeboSignificant reductions in atherogenic lipids, includi ...

SOUTH SAN FRANCISCO, Calif., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (Nasdaq: ALGS, “Aligos”, “Company”), a clinical stage biopharmaceutical company focused on improving patient outcomes through best-in-class therapies for liver and viral diseases, today announced that the Company will share the topline results from the Phase 2a HERALD study of ALG-055009, a thyroid hormone receptor beta (THR-β) agonist, in metabolic-dysfunction associated steatohepatitis (MASH) subjects on Thursday, Se ...

SimonSkafar/E+ via Getty Images Thesis Alamo Group (NYSE:ALG) is a leading global provider of high-quality equipment for infrastructure maintenance, agriculture and vegetation that has seen its stock price fall over the most recent months. The company remains a well-run, stable business however and boasts strong fundamentals. It is geographically well diversified and allocates capital more efficient than its near-competitors. Revenue and margins are steadily expanding over the years, which, I think, mak ...

Alamo Group Inc (NYSE:ALG) Q2 2024 Results Conference Call August 1, 2024 10:00 AM ET Company Participants Edward Rizzuti - Executive Vice President, General Counsel and Secretary Jeff Leonard - President and Chief Executive Officer Agnes Kamps - Executive Vice President, Chief Financial Officer, and Treasurer Conference Call Participants Chris Moore - CJS Securities Mike Shlisky - D.A. Davidson Mig Dobre - Baird Greg Burns - Sidoti & Company Operator Good day, and welcome to the Alamo Group Inc. Second Qua ...

Financial Performance - For the first six months of 2024, the Company's net sales decreased by 1% to $841.9 million compared to $852.5 million in the same period of 2023[55] - Net income for the first six months of 2024 was $60.4 million, a decrease of 13% from $69.7 million in the same period of 2023, resulting in earnings per share of $5.02 compared to $5.82[66] - The Vegetation Management Division experienced a 16% decrease in sales to $435.3 million for the first six months of 2024, primarily due to weakened demand[56] - The Industrial Equipment Division saw a 21% increase in sales to $406.6 million for the first six months of 2024, driven by strong demand across all product lines[64] - Gross profit for the first six months of 2024 was $219.8 million, representing 26% of net sales, down from $230.6 million or 27% in the same period of 2023[64] Backlog and Expenses - The Company's backlog at the end of the first six months of 2024 was $768.9 million, a decrease of 14% from $891.2 million at the end of the same period in 2023[57] - Selling, general and administrative expenses (SG&A) for the first six months of 2024 were $121.4 million, an increase of 1.9 million from $119.5 million in the same period of 2023[65] Capital Expenditures and Working Capital - Capital expenditures for the first six months of 2024 were $11.1 million, down from $18.2 million in the same period of 2023, with an expected full-year capital expenditure of $30.0 million to $35.0 million[69] - The Company had working capital of $699.9 million as of June 30, 2024, an increase of $109.9 million from $590.0 million at December 31, 2023[68] Debt and Interest - Interest expense for the first six months of 2024 was $12.2 million, a decrease from $12.8 million in the same period of 2023, primarily due to debt reduction[65] - The Company entered into a 2022 Credit Agreement providing up to $655.0 million in loans, with $255.0 million borrowed under a Term Facility and $400.0 million available under a Revolver Facility[71] - As of June 30, 2024, $294.5 million was outstanding under the 2022 Credit Agreement, including $228.8 million on the Term Facility and $65.8 million on the Revolver Facility[72] - The Company is required to make quarterly principal payments of $3.75 million on the Term Facility, with the final payment due at the end of the five-year term[71] - The applicable interest margin for Term SOFR borrowings ranges from 1.25% to 2.50%, and for Base Rate borrowings from 0.25% to 1.50%, based on the Company's consolidated leverage ratio[71] - The Company has $331.7 million in available borrowings after accounting for $2.6 million committed to standby letters of credit[72] - The Company believes the 2022 Credit Agreement and internal cash generation will meet its cash requirements for the foreseeable future, despite potential banking industry challenges[73] Foreign Currency and Interest Rate Sensitivity - The total foreign currency translation adjustment for the current quarter decreased stockholders' equity by $5.5 million[84] - A uniform 10% change in the value of the U.S. dollar relative to foreign currencies could result in a $7.0 million change in gross profit for the six-month period ended June 30, 2024[85] - A two percentage point change in average interest rates could change the Company's interest expense by approximately $1.5 million[86] - The Company is in compliance with the financial covenants under the 2022 Credit Agreement as of June 30, 2024[72]

For: Alamo Group Inc. Contact: Agnes Kamps Executive Vice President & CFO 830-372-9615 Financial Relations Board Joe Calabrese 212-827-3772 ALAMO GROUP ANNOUNCES FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2024 SEGUIN, Texas, July 31, 2024 -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2024. Highlights for the Quarter • Net Sales of $416.3 million, down 5.5% versus prior year ◦ Industrial Equipment net sales of $204.8 million, up 14.2% ◦ Vegetation Management ne ...

SEGUIN, Texas, July 31, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2024. Highlights for the Quarter Net Sales of $416.3 million, down 5.5% versus prior year Industrial Equipment net sales of $204.8 million, up 14.2% Vegetation Management net sales of $211.5 million, down 19.1% Income from operations of $43.3 million, 10.4% of net sales Net income of $28.3 million Second quarter fully diluted EPS of $2.35 per share; EPS results of $2.35 p ...

SAN ANTONIO, July 09, 2024 (GLOBE NEWSWIRE) -- Big Sky Medical, a leading healthcare real estate investment firm, today announced the acquisition of Sunset at Treeline, a cutting-edge medical outpatient building in San Antonio's prestigious Alamo Heights neighborhood. The off-market transaction secures a strategically located property adjacent to the CHRISTUS Santa Rosa Alamo Heights campus, with high visibility along Highway 281. Completed in 2020, this Class A medical outpatient building (MOB) exemplifies ...