Alamo Group Q2 2023: Record sales $440.7M, EPS $3.03, up 27% YoY

ALAMO GROUP INC

2023-Q2 EPS reported $5.82 revenue$852,465,000

Net sales $440.7M, up 11.2% YoY; net income $36.4M ($3.03 diluted EPS), up 26.8%.
Vegetation Management sales $261.3M (+2.5%); Industrial Equipment $179.3M (+27.0%).
Operating income $54.4M, up 32.9%; gross margin improved 160 bps vs prior year.
Backlog $891.2M, slightly down vs Q2 2022; order bookings down 9% from solid prior year.
CEO sees continued positive outlook but cautious on hobby farm/ranch softness and drought.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALAMO GROUP INC reported second quarter ended June 30, 2023 results: revenue $440.7 million, net income $36.4 million, EPS $3.03 per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $440.7 million
Net income: $36.4 million
EPS: $3.03 per diluted share
Result: reported results

Exact text from the filing

SEGUIN, Texas, August 2, 2023 -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2023. Highlights for the Quarter • Net sales of $440.7 million, up 11.2% ◦ Vegetation Management net sales of $261.3 million, up 2.5% ◦ Industrial Equipment net sales of $179.3 million, up 27.0% • Income from operations of $54.4 million, up

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Source: SEC EDGAR

accession 0000897077-23-000093

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