Welcome to our dedicated page for Alamo Group news (Ticker: ALG), a resource for investors and traders seeking the latest updates and insights on Alamo Group stock.
Alamo Group, Inc. (NYSE: ALG) is a pioneering force in the design, manufacture, distribution, and service of high-quality equipment dedicated to vegetation management, infrastructure maintenance, and agricultural applications. Founded in 1969, Alamo Group has grown into an industry leader, producing an extensive range of products including truck and tractor-mounted mowing equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, and an array of industrial and agricultural implements.
Operating from its corporate headquarters in Seguin, Texas, Alamo Group oversees 29 plants across North America, Europe, Australia, and Brazil, employing approximately 4,350 individuals. The company's expansion and innovation have been fueled by numerous strategic acquisitions, bolstering its position in diverse markets. Alamo Group comprises two primary segments: Vegetation Management and Industrial Equipment, with the former generating the majority of the company's revenue.
Recent achievements highlight the company's commitment to innovation and sustainability. For instance, Morbark, an Alamo Group company, introduced the BVR line of brush chippers featuring patented ZeroClutch technology, enhancing operational safety and efficiency. Additionally, Timberwolf, another subsidiary, unveiled the TW 280HB HYBRID wood chipper, addressing the demand for environmentally sustainable solutions.
Alamo Group's financial health is robust, as evidenced by its record-setting performance. In the fourth quarter of 2023, the company reported net sales of $417.5 million, marking an 8% year-over-year increase, and full-year net sales of $1.69 billion, up 12% from the previous year. The company's backlog stood at a healthy $860 million at year-end, ensuring sustained growth momentum. Furthermore, Alamo Group continues to reward its shareholders with regular quarterly dividends.
In addition to these financial milestones, Alamo Group announced several strategic leadership changes and labor agreements, ensuring operational stability and future growth. Agnes Kamps was appointed as the new Chief Financial Officer, following the retirement of Richard J. Wehrle. Alamo Group also successfully negotiated a new five-year labor agreement at its Gradall Industries subsidiary, ending a strike and resuming normal operations.
For investors seeking comprehensive updates and insights into Alamo Group's performance, the company regularly hosts earnings conference calls, with the next one scheduled for May 3, 2024, to discuss the first quarter results. Interested parties can participate via phone or access the live broadcast on the company's website.
Alamo Group's unwavering dedication to innovation, quality, and sustainability, combined with a strong financial foundation, positions it as a formidable contender in the equipment manufacturing sector.
Alamo Group Inc. (NYSE: ALG) has declared a quarterly dividend of $0.22 per share, scheduled for payment on May 1, 2023. Shareholders of record at the close of business on April 17, 2023 will receive this dividend. Founded in 1969, Alamo Group specializes in manufacturing equipment for vegetation management and infrastructure maintenance, with a workforce of approximately 4,200 employees across 28 plants in North America, Europe, Australia, and Brazil as of December 31, 2022.
Alamo Group Inc. (NYSE: ALG) reported impressive financial results for Q4 and the full year of 2022. Q4 net sales reached $386.6 million, a 15% increase year-over-year, while net income rose to $29.2 million, or $2.44 per diluted share, a 52% increase. For the full year, net sales totaled $1.5 billion, up 13%, with net income at $101.9 million, a 27% improvement. The backlog increased to $1.0 billion, up 26% from 2021. Despite challenges from supply chain disruptions and labor shortages, the company maintained a robust performance across its divisions, citing strong demand and effective cost management as key drivers.
Alamo Group Inc. (NYSE: ALG) will host a conference call on February 24, 2023, at 10:00 a.m. ET to discuss its fourth quarter and year-end 2022 financial results. Senior management will lead the call, which can be accessed via phone at 877-407-0789 (domestic) or 201-689-8562 (international). A replay will be available until March 3, 2023. Interested parties can also listen to the live broadcast on Alamo Group's website under 'Investor Relations'. The company specializes in high-quality equipment for vegetation management and infrastructure maintenance and operates approximately 29 plants globally.
Alamo Group has declared a quarterly dividend of $0.22 per share, up from $0.18. This increase reflects the company's commitment to returning value to shareholders. The dividend payment is scheduled for February 1, 2023, with the record date set for January 18, 2023. Alamo Group specializes in manufacturing equipment for vegetation management and infrastructure maintenance, operating 29 plants across North America, Europe, Australia, and Brazil, employing approximately 4,200 staff.
Alamo Group reported record third-quarter results for 2022, with net sales reaching $368.8 million, a 9.0% increase year-over-year. Net income rose 46.9% to $25.8 million, or $2.16 per diluted share. Notably, the backlog increased 40.9% to $908.9 million. The Vegetation Management division contributed significantly, achieving net sales of $228.5 million. However, supply chain disruptions and labor shortages continued to pressure operational efficiency and gross margins.
Alamo Group Inc. (NYSE: ALG) has announced it will release its third quarter 2022 financial results on November 3, 2022, after market close. A conference call will be held on November 4, 2022, at 10:00 a.m. ET for discussion of the results, led by senior management. Participants can dial in at 1-877-407-0789 (domestic) or 1-201-689-8562 (international). A replay will be available until November 11, 2022. The live broadcast can be accessed on Alamo Group's website.
Alamo Group Inc. (NYSE: ALG) has declared a quarterly cash dividend of $0.18 per share, payable on November 1, 2022. Shareholders on record as of the close of business on October 18, 2022 will receive this dividend. Founded in 1969, Alamo Group is a leader in the design and manufacture of equipment for vegetation management and infrastructure maintenance, with a workforce of approximately 4,275 and operations in North America, Europe, Australia, and Brazil.
Alamo Group reported record financial results for Q2 2022, with net sales reaching $396.2 million, a 14% increase year-over-year. Net income rose to $28.5 million or $2.39 per diluted share, up 9.4%. The backlog reached $894 million, a 77.5% increase from Q2 2021. Significant growth was noted in the Vegetation Management Division, with net sales climbing by 18.8%. However, the Industrial Equipment Division faced challenges, including a 25.7% drop in income from operations due to supply chain disruptions.
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