Alamo Group reports Q2 sales up 29% to $347.6M, net income doubles to $26.0M, record backlog

ALAMO GROUP INC

2021-Q2 EPS reported $3.66 revenue$658,739,000

Net sales $347.6M (+29% YoY); net income $26.0M (+100%); diluted EPS $2.19 (+99%).
Adjusted net income $23.4M, or $1.97 per diluted share (+73% YoY).
Industrial Division sales $231.2M (+27%); Agricultural Division sales $116.3M (+35%).
Backlog increased 11% sequentially and 132% YoY to $503.6M; debt reduced $38.7M in quarter.
Management cites supply chain disruptions, labor shortages, and input cost inflation as headwinds; expects challenges through 2021.

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