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 has declared a quarterly cash dividend of $0.14 per share, scheduled for payment on April 29, 2021. Shareholders of record as of April 15, 2021 will receive this dividend. The company, which specializes in manufacturing and servicing equipment for infrastructure maintenance and agriculture, has approximately 3,990 employees and operates 27 plants across multiple regions, including North America and Europe. Alamo Group emphasizes its commitment to maintaining high-quality production despite challenges posed by the ongoing COVID-19 pandemic.
Alamo Group reported its Q4 2020 results, registering net sales of $288.6 million, a 3.8% decline year-over-year. The Industrial Division saw a more significant drop of 8.9%, while the Agricultural Division posted a 10.5% increase. Overall net income for the quarter fell to $8.1 million, down 15.5%. For the full year, net sales reached a record $1.16 billion, up 4.0%, though net income decreased by 10% to $56.6 million. The company's backlog rose 35.6% to $354.1 million, indicating ongoing demand despite COVID-19 challenges impacting operations.
Alamo Group (NYSE: ALG) will report its fourth quarter and year-end 2020 financial results after market close on February 25, 2021. A conference call for discussion will be held on February 26, 2021, at 11:00 a.m. ET. Participants can join via phone or listen online on Alamo's website. The company, established in 1969, specializes in high-quality equipment for infrastructure maintenance and agriculture, operating 27 plants globally with approximately 3,950 employees. Forward-looking statements include risks related to market demand and supply chain disruptions due to COVID-19.
Alamo Group declared a quarterly dividend of $0.14 per share, an increase from $0.13. This dividend will be payable on January 29, 2021, to shareholders recorded by January 19, 2021. The company continues to showcase its prowess in the design and manufacturing of maintenance equipment across multiple sectors, operating 27 plants globally with approximately 3,950 employees. Challenges noted include potential impacts from the COVID-19 pandemic and various market risks.
Alamo Group Inc. (NYSE: ALG) announced that President and CEO Ron Robinson plans to retire by mid-2021 after over 21 years in leadership. The Board is preparing for a smooth succession and aims to appoint a new CEO soon. Robinson expressed the decision as a timely change for personal reasons and indicated his intention to remain on the Board. Under his leadership, Alamo Group's growth has been significant, with sales increasing from $177 million to over $1.1 billion, and net income rising from $6.1 million to $63 million.
Alamo Group reported record net sales of $291.8 million for Q3 2020, a 7.3% increase year-over-year, with net income rising 15.0% to $20.0 million.
Despite a 9.0% decline in net income for the first nine months, EBITDA increased by 14.2%. Total debt was reduced by $64.7 million in Q3. The backlog stands at $254.5 million, up 17.5% from Q2 2020. The Agricultural Division showed resilience with a 2.0% sales increase, while the Industrial Division grew 10.1%. Challenges from COVID-19 persist, affecting operations and sales.
Alamo Group Inc. (NYSE: ALG) will release its third-quarter 2020 financial results post-market on October 28, 2020. A conference call led by senior management will occur on October 29, 2020, at 3:00 p.m. ET to discuss these results. Interested participants can join via phone or listen to an online replay on the company’s website. Alamo Group specializes in manufacturing equipment for infrastructure maintenance and agriculture, operating globally with around 4,070 employees across 30 plants as of June 30, 2020.
Alamo Group (NYSE: ALG) has declared a quarterly cash dividend of $0.13 per share. This dividend is payable on October 28, 2020, to shareholders of record as of October 15, 2020. The company, established in 1969, specializes in manufacturing high-quality equipment for infrastructure maintenance and agriculture. Alamo Group operates 30 plants across North America, Europe, Australia, and Brazil, employing approximately 4,070 people as of June 30, 2020.
Alamo Group Inc. reported second-quarter 2020 net sales of $268.6 million, a decline of 5.8% year-over-year. Net income fell 37.2% to $13.0 million. Despite challenges from the COVID-19 pandemic, first-half net sales reached a record $583.1 million, up 6.6%, but net income decreased 20.6% to $28.5 million. Acquisitions contributed $58 million to second-quarter sales. The backlog stood at $216.6 million. Alamo reduced debts by $51.5 million during the quarter, maintaining cash levels above $80 million.
Alamo Group Inc. (NYSE: ALG) will release its Q2 2020 financial results on July 29, 2020, after market close. Senior management will discuss the results during a conference call on July 30, 2020, at 3:00 p.m. ET. Participants can join the call by dialing 800-367-2403 (domestic) or 334-777-6978 (international). A replay will be available until August 04, 2020. The Company is a leader in manufacturing equipment for infrastructure maintenance and employs around 4,230 people across 30 plants worldwide.
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