Alamo Group Q1 2023: record sales $411.8M (+13.7% YoY), EPS $2.79 (+80.6% YoY)

ALAMO GROUP INC

2023-Q1 EPS reported $2.79 revenue$411,771,000

Net sales $411.8M (+13.7% YoY); net income $33.3M ($2.79 diluted EPS, +80.6%).
Vegetation Management sales $256.4M (+16.0%); Industrial Equipment sales $155.3M (+10.2%).
Operating income $49.0M (+68.4%); gross margin improved 340 bps YoY.
Backlog $994.8M (+8.4% YoY); order bookings down 17% YoY.
Management optimistic near-term but cautious longer-term on interest rates and dealer inventories.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALAMO GROUP INC reported the first quarter ended March 31, 2023 results: revenue $411.8 million, net income $33.3 million, EPS $2.79 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $411.8 million
Net income: $33.3 million
EPS: $2.79 per diluted share
Result: reported results

Exact text from the filing

EARNINGS SEGUIN, Texas, May 4, 2023 -- Alamo Group Inc. (NYSE: ALG) today reported results for the first quarter ended March 31, 2023. Highlights for the Quarter • Net sales of $411.8 million, up 13.7% ◦ Vegetation Management net sales of $256.4 million, up 16.0% ◦ Industrial Equipment net sales of $155.3 million, up 10.2% • Income from operations of $49.0 million, up

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Source: SEC EDGAR

accession 0000897077-23-000046

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