Alamo Group Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:20 pm EDT
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Alamo Group Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 419.64 million compared to USD 368.79 million a year ago. Revenue was USD 419.64 million compared to USD 368.79 million a year ago. Net income was USD 34.92 million compared to USD 25.82 million a year ago. Basic earnings per share from continuing operations was USD 2.93 compared to USD 2.18 a year ago. Diluted earnings per share from continuing operations was USD 2.91 compared to USD 2.16 a year ago.
For the nine months, sales was USD 1,272.11 million compared to USD 1,127.01 million a year ago. Revenue was USD 1,272.11 million compared to USD 1,127.01 million a year ago. Net income was USD 104.64 million compared to USD 72.76 million a year ago. Basic earnings per share from continuing operations was USD 8.78 compared to USD 6.13 a year ago. Diluted earnings per share from continuing operations was USD 8.73 compared to USD 6.1 a year ago.
Alamo Group Inc. is engaged in designing, manufacturing, distributing and providing services of equipment for vegetation management, infrastructure maintenance and other applications. The Company operates through two segments: Vegetation Management Division and Industrial Equipment Division. The Vegetation Management Division includes the operations of the mowing and forestry/tree care operations, Morbark and Dutch Power business units. The Industrial Equipment Division includes the Companyâs vocational truck business and other industrial operations, such as excavators, vacuum trucks, street sweepers and snow removal equipment. Its products include tractor-mounted and self-propelled mowers, zero-turn mowers, agricultural implements, tree and branch chippers, forestry/wood recycling equipment, street and parking lot sweepers, leaf and debris collection equipment, pothole patchers, vacuum trucks, hydro-excavation equipment, telescopic boom excavators, and snow removal equipment.