SEGUIN, Texas, May 20, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced that on May 20, 2024 the strike that began on April 14, 2024 by unionized workers at its subsidiary, Gradall Industries LLC, located in New Philadelphia, Ohio (the "Company"), has ended. The approximately 200 workers part of the International Association of Machinists and Aerospace Workers, District Lodge 54, Local Lodge 1285, and the Company reached an agreement on a new five-year labor agreement. About Alamo Group Alamo Gro ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:ARMOUR Residential REIT (ARR) invests primarily in residential mortgage-backed securities issued or guaranteed by a United States Government-chartered entity. The Zacks Consensus Estimate for its current year earnings has been revised almost 18.6% downward over the last 60 days.3D Systems (DDD) is a leading provider of 3D content-to-print solutions including 3D printers, print materials, on-demand custom parts services and 3D authorin ...

Even if you’re more of a short-term thinker when it comes to investing, it’s still a good idea to put some money into blue-chip stocks that have been around forever and will likely be around forever into the future. Many stocks these days can fizzle out soon, and most of the hot new tech names today probably won’t stand the test of time like firms that have been steady performers for generations. Time is the real boss, and not many businesses can stay on top indefinitely.On the other hand, companies with de ...

Financial Data and Key Metrics Changes - First quarter consolidated net sales reached $425.6 million, a 3% increase from $411.8 million in the same quarter last year [10] - Gross margin percentage decreased by 110 basis points, with gross margin dollars down by just under $900,000 compared to Q1 2023 [10] - Operating margin for Q1 was $47 million, down 4% from $49 million in Q1 2023, with operating margin as a percentage of sales at 11% compared to 12% last year [11] - Consolidated net income for Q1 was $32.1 million or $2.67 per diluted share, a decrease of 4% from $33.3 million or $2.79 per diluted share in Q1 2023 [11] Business Line Data and Key Metrics Changes - Vegetation Management division net sales were $223.7 million, a 13% decrease from $256.4 million in Q1 2023, with operating income down 40% to $21.7 million [12] - Industrial Equipment division net sales surged to $201.8 million, a 30% increase from $155.3 million in Q1 2023, with operating income rising over 102% to $25.3 million [12][13] - The backlog at the end of Q1 2024 was just over $831 million, down 16% from the same period last year but still considered healthy [13] Market Data and Key Metrics Changes - The agricultural equipment market faced challenges with a 5% expected decline in inflation-adjusted US net cash farm income for 2024 [19] - US two-wheel drive tractor sales were down 13.4% compared to Q1 2023, with specific declines in various horsepower classes [19] - Vegetation Management backlog declined by about 48%, primarily due to fewer new orders and cancellations [20] Company Strategy and Development Direction - The company aims to maintain a 10% operating margin in the Vegetation Management division despite market challenges [32][62] - Focus on reducing costs and simplifying operations through facility consolidations and capacity adjustments as needed [26] - The company is optimistic about its M&A pipeline, with more actionable opportunities than in previous years [26] Management's Comments on Operating Environment and Future Outlook - Management noted that the headwinds in Vegetation Management are expected to persist until inventory levels decline and interest rates are reduced [25] - The outlook for the second quarter and the remainder of 2024 anticipates continued sales growth, albeit at a more modest pace [26] - Governmental markets remain strong, with state revenues not declining as previously forecasted, supporting continued investment [22][67] Other Important Information - The company approved a quarterly dividend of $0.26 per share, a 15% increase from $0.22 per share in Q1 2023 [15] - Supply chain performance improved, although challenges remain with truck chassis deliveries and component shortages [24] Q&A Session Summary Question: Vegetation EBIT margin outlook - Management expressed confidence in maintaining around the 10% level for the balance of 2024 despite market conditions [30][32] Question: Lead times in Industrial Equipment - Lead times have normalized to about 120 days for larger equipment, with optimism about chassis deliveries improving [34] Question: Health of dealer network - No significant pressure on accounts receivable was noted, and dealers are cautiously managing inventory [44] Question: Competition from a larger machinery player - Management is not concerned about competition, citing strong dealer loyalty and the longevity of their products [46] Question: Contribution from acquisitions - The revenue contribution from acquisitions in the quarter was approximately $15 million [47] Question: Revenue growth expectations - High single-digit revenue growth is expected for the Industrial Equipment division for the remainder of the year [52] Question: Vegetation Management production outlook - Future revenue in Vegetation Management will depend on order flow, with a stable backlog expected to support revenue levels [60] Question: Government funding sustainability - Strong governmental finances are expected to continue supporting orders through 2024, with potential tapering in 2025 [67]

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 MARCH 31, 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 of i ...

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 FIRST QUARTER OF 2024 SEGUIN, Texas, May 2, 2024 -- Alamo Group Inc. (NYSE: ALG) today reported results for the first quarter ended March 31, 2024. Highlights for the Quarter • Record net sales of $425.6 million, up 3.4% ◦ Industrial Equipment net sales of $201.8 million, up 29.9% ◦ Vegetation Management net sales of $223. ...

SEGUIN, Texas, April 16, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) was notified on April 14, 2024 that the unionized workers at its subsidiary, Gradall Industries LLC, located in New Philadelphia, Ohio (the "Company"), elected to strike after failing to reach a labor agreement with the Company.  The approximately 200 workers are part of the International Association of Machinists and Aerospace Workers, District Lodge 54, Local Lodge 1285.  Negotiations are ongoing and the Company is committed to wor ...

SEGUIN, Texas, April 1, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared its quarterly dividend of $0.26 per share. Payment will be made on April 29, 2024, to shareholders of record at the close of business on April 16, 2024. About Alamo GroupAlamo Group is a leader in the design, manufacture, distribution, and service of high-quality equipment for vegetation management, infrastructure maintenance and other applications. Our products include truck an ...

SEGUIN, Texas, March 6, 2024 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today announced that Richard J. Wehrle, Executive Vice President, Chief Financial Officer and Treasurer, will retire from the Company on May 3, 2024.  Ms. Agnes Kamps joined the Company as Executive Vice-President on March 6, 2024, and will take on the duties of Company Treasurer immediately.  Upon Mr. Wehrle's retirement, Ms. Kamps will succeed Mr. Wehrle as the Company's Chief Financial Officer.  Ms. Kamps joins the Company from Ame ...

Alamo Group Inc. (NYSE:ALG) Q4 2023 Earnings Conference Call February 23, 2024 10:00 AM ET Company Participants Edward Rizzuti - Executive Vice President, General Counsel & Secretary Jeff Leonard - President & Chief Executive Officer Richard Wehrle - Executive Vice President, Chief Financial Officer & Treasurer Conference Call Participants Mig Dobre - Baird Chris Moore - CJS Securities Mike Shlisky - D.A. Davidson Tim Moore - EF Hutton Edward Rizzuti Jeff Leonard, President and Chief Executive Officer; and ...