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 ...

Sony Pictures Entertainment is getting into the exhibition business.The studio behind recent films like “Bad Boys: Ride or Die” and “The Garfield Movie” has acquired the distinctive theater chain Alamo Drafthouse Cinema, the companies said Wednesday. Included in the deal is the genre film festival Fantastic Fest.Sony Pictures Entertainment has acquired the Alamo Drafthouse movie theater chain. Stephen YangSony said it will continue to welcome content from all studios and distributors at the dine-in theaters ...

SEGUIN, Texas, June 10, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today announced that Michael A. Haberman, Executive Vice President of the Industrial Equipment Division, will retire from his current role on August 6, 2024. Upon Mr. Haberman's retirement, Kevin Thomas will succeed Mr. Haberman as Executive Vice President of the Industrial Equipment Division. Mr. Thomas has been with the Company since February 2022 when he joined as Vice President of the Excavator and Vacuum Truck Group. Prior to joi ...