Alamo Group Q3 Earnings Show Modest Revenue Growth

TL;DR

Alamo Group Q3 revenue up slightly to $1.2B YTD, net income steady at $98.7M.

AI Summary

Alamo Group Inc. reported its third-quarter results for the period ending September 30, 2024. The company's revenue for the nine months ended September 30, 2024, was $1,204.5 million, a slight increase from $1,198.5 million in the same period of 2023. Net income for the nine-month period was $98.7 million in 2024, compared to $97.1 million in 2023.

Why It Matters

This filing provides insight into Alamo Group's financial performance in the farm and industrial equipment sector, indicating stable revenue and net income trends.

Risk Assessment

Risk Level: low — The filing indicates stable financial performance with modest growth, suggesting low immediate risk.

Key Numbers

• $1,204.5M — Nine-Month Revenue (2024) (Represents a slight increase from the prior year's period.)
• $1,198.5M — Nine-Month Revenue (2023) (Prior year comparable revenue figure.)
• $98.7M — Nine-Month Net Income (2024) (Indicates profitability for the period.)
• $97.1M — Nine-Month Net Income (2023) (Prior year comparable net income figure.)

Key Players & Entities

• Alamo Group Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• $1,204.5 million (dollar_amount) — Revenue for the nine months ended September 30, 2024
• $1,198.5 million (dollar_amount) — Revenue for the nine months ended September 30, 2023
• $98.7 million (dollar_amount) — Net income for the nine months ended September 30, 2024
• $97.1 million (dollar_amount) — Net income for the nine months ended September 30, 2023

FAQ

Filing Documents

• alg-20240930.htm (10-Q) — 944KB
• a2024930-ex311.htm (EX-31.1) — 8KB
• a2024930-ex312.htm (EX-31.2) — 9KB
• a2024930-ex313.htm (EX-31.3) — 9KB
• a2024930-ex321.htm (EX-32.1) — 5KB
• a2024930-ex322.htm (EX-32.2) — 5KB
• a2024930-ex323.htm (EX-32.3) — 6KB
• 0000897077-24-000112.txt ( ) — 5596KB
• alg-20240930.xsd (EX-101.SCH) — 32KB
• alg-20240930_cal.xml (EX-101.CAL) — 73KB
• alg-20240930_def.xml (EX-101.DEF) — 110KB
• alg-20240930_lab.xml (EX-101.LAB) — 460KB
• alg-20240930_pre.xml (EX-101.PRE) — 311KB
• alg-20240930_htm.xml (XML) — 934KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risks

Quantitative and Qualitative Disclosures About Market Risks 22 Item 4.

Controls and Procedures

Controls and Procedures 23 PART II. OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings Item 1A.

Risk Factors

Risk Factors Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Item 3. Defaults Upon Senior Securities Item 4. Mine Safety Disclosures Item 5. Other Information Item 6. Exhibits

SIGNATURES

SIGNATURES 25 2 Alamo Group Inc. and Subsidiaries Interim Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share amounts) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 140,038 $ 51,919 Accounts receivable, net 356,617 362,007 Inventories, net 371,999 377,480 Prepaid expenses and other current assets 10,899 12,497 Income tax receivable 51 54 Total current assets 879,604 803,957 Rental equipment, net 47,260 39,264 Property, plant and equipment 373,939 365,960 Less: Accumulated depreciation ( 210,565 ) ( 199,300 ) Total property, plant and equipment, net 163,374 166,660 Goodwill 206,458 206,536 Intangible assets, net 156,399 168,296 Deferred income taxes 1,450 1,375 Other non-current assets 26,796 23,298 Total assets $ 1,481,341 $ 1,409,386 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 97,259 $ 99,678 Income taxes payable 15,687 12,529 Accrued liabilities 84,061 86,711 Current maturities of long-term debt and finance lease obligations 15,009 15,008 Total current liabilities 212,016 213,926 Long-term debt and finance lease obligations, net of current maturities 209,157 220,269 Long-term tax liability 708 2,634 Other long-term liabilities 28,886 23,694 Deferred income taxes 12,854 16,100 Stockholders' equity: Common stock, $ 0.10 par value, 20,000,000 shares authorized; 12,013,483 and 11,964,181 outstanding at September 30, 2024 and December 31, 2023, respectively 1,201 1,196 Additional paid-in-capital 144,616 137,791 Treasury stock, at cost; 82,600 shares at September 30, 2024 and December 31, 2023, respectively ( 4,566 ) ( 4,566 ) Retained earnings 931,379 852,859 Accumulated other comprehensive loss ( 54,910 ) ( 54,517 ) Total stockholders' equity 1,017,720 932,763 Total liabilities and stockholders' equity $ 1,481,341 $ 1,409,386 See accompanying notes. 3 Alamo Group Inc. a

View Full Filing

View this 10-Q filing on SEC EDGAR