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 reported strong Q1 2022 results with net sales of $362.0 million, a 16.3% increase year-over-year. Net income rose 5.8% to $18.5 million, or $1.55 per diluted share. Adjusted net income was $19.4 million, up 11.4%. Backlog reached a record $917.8 million, up 102.8%. Despite strong sales growth in both divisions, persistent supply chain issues and cost inflation impacted margins. Management highlighted ongoing challenges but remains confident in addressing supply constraints.
Alamo Group Inc. (NYSE: ALG) will announce its first quarter 2022 financial results on May 4, 2022, after market close. A conference call to discuss these results is scheduled for May 5, 2022, at 4:00 p.m. ET. Participants can join by calling 888-882-4478 domestically or 323-794-2590 internationally. A replay will be available until May 12, 2022. The Company, established in 1969, operates globally and specializes in high-quality infrastructure maintenance equipment.
Alamo Group Inc. (NYSE: ALG) has declared a quarterly cash dividend of $0.18 per share, payable on May 2, 2022, to shareholders on record as of April 18, 2022. This dividend reflects the company’s commitment to rewarding its shareholders. Alamo Group specializes in high-quality equipment for infrastructure maintenance, agriculture, and related fields, with operations in North America, Europe, Australia, and Brazil. The company has approximately 4,200 employees and operates 29 plants as of December 31, 2021.
Alamo Group Inc. (NYSE: ALG) announced a target to reduce its greenhouse gas emissions by 50% by 2030, using 2019 as a baseline. The company has already cut energy consumption by 9% and aims for an additional 30% reduction. Investment in energy-efficient technologies, including LED lighting and renewable energy sources, will support this goal. The company emphasizes that these efforts not only benefit the environment but also promise strong returns for shareholders. The sustainability report covering these efforts will be released in 2021.
Alamo Group reported a strong fourth quarter and full-year results for 2021, achieving record net sales of $1.3 billion, up 14.7%. Fourth quarter net sales reached $337.2 million, a 16.8% increase, with diluted EPS at a record $1.62, up 107.7%. The Vegetation Management Division excelled with a 27.4% sales increase, while the Industrial Equipment Division saw modest growth of 3.6%. However, persistent supply chain challenges and labor shortages impacted results. The record backlog at year-end 2021 reached $800.8 million, up 126.2%, indicating strong future demand.
Alamo Group Inc. (NYSE: ALG) will announce its fourth quarter and year-end 2021 financial results on February 24, 2022. A conference call for discussing these results is scheduled for February 25, 2022, at 11:00 a.m. ET. Interested participants can join by dialing 888-220-8451 domestically or 323-794-2588 internationally. A replay will be available post-call until March 4, 2022. Alamo Group is a leader in manufacturing equipment for infrastructure maintenance, agriculture, and other applications, with approximately 4,100 employees across 27 plants in multiple countries.
Alamo Group Inc. (NYSE: ALG) has declared a quarterly dividend increase from $0.14 to $0.18 per share. This increase reflects the company’s commitment to returning value to shareholders. The payment date is set for February 1, 2022, for shareholders on record as of January 18, 2022. With a workforce of approximately 4,100 employees and operations across North America, Europe, Australia, and Brazil, Alamo continues to lead in manufacturing high-quality infrastructure maintenance and agricultural equipment.
Alamo Group Inc. (NYSE: ALG) announced an expansion of its Board of Directors from eight to nine members with the appointment of Nina Grooms as an independent board member, effective December 9, 2021. Grooms brings 30 years of experience, currently serving as Chief Product Officer at May Mobility and previously held leadership roles at Ford Motor Company and General Electric. Chairman Roderick R. Baty expressed confidence that her expertise in product development and autonomous vehicles will support Alamo's growth.
Alamo Group Inc. (NYSE: ALG) reported Q3 2021 results, showcasing net sales of $338.3 million, a 16% increase compared to Q3 2020. The Industrial Division saw sales of $219.0 million (up 12%), while the Agricultural Division achieved $119.3 million (up 25%). However, net income dropped by 13% to $17.5 million due to inflation and supply chain disruptions. The backlog reached a record $645.1 million, indicating strong future demand despite current challenges.
Alamo Group Inc. (NYSE: ALG) will announce its third quarter 2021 financial results on November 3, 2021, after market close. A conference call to discuss the results is scheduled for November 4, 2021, at 3:00 p.m. ET, hosted by senior management. Participants can join via telephone or stream the call live on the company's website. A replay will be available until November 11, 2021. Alamo Group specializes in manufacturing and distributing equipment for infrastructure maintenance and agriculture, operating 27 plants globally.
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