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Alamo Group (ALG)
NYSE:ALG
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.35Last Year’s EPS
$2.63Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 11.09%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mixed performance with significant growth in the Industrial Equipment division, offset by challenges and revenue decline in the Vegetation Management division. Strong cash flow and debt reduction were positive, while the drop in overall revenue and net income were notable concerns.Company Guidance
During the Alamo Group Inc. third quarter 2024 earnings call, several key metrics and guidance details were discussed. Total revenue for Q3 2024 was reported at $401.3 million, reflecting a 4.4% decline from the same period in 2023. The company's gross profit was $100.9 million with a margin of 25.1%, down 206 basis points year-over-year. Operating income for the quarter stood at $40 million, maintaining a 10% margin of net sales, despite a decline of 190 basis points. Net income was $27.4 million or $2.28 per diluted share, compared to $34.9 million or $2.91 per diluted share in the prior year. The Vegetation Management division faced challenges with a 23% reduction in net sales to $190.1 million, while the Industrial Equipment division experienced a 22% increase in net sales to $211.2 million. For the first nine months of 2024, net sales decreased by 2.3% to $1.2 billion. The company implemented cost reduction initiatives aimed at achieving $25 million to $30 million in annualized savings, with $1.6 million in separation expenses incurred in Q3. Alamo Group's balance sheet remained strong, with operating cash flow for the first nine months increasing by 70% to $130.6 million, and total debt reduced by $69.5 million during the third quarter. Despite the challenges in vegetation management, the company expressed optimism for 2025, supported by a strong backlog in the Industrial Equipment division and anticipated cost savings.Industrial Equipment Division Growth
The Industrial Equipment division reported net sales of $211.2 million, representing 22% growth compared to the third quarter of 2023. Operating income was $27.7 million, marking an improvement of 180 basis points compared to the same period last year.
Strong Cash Flow and Debt Reduction
Operating cash flow for the first 9 months of 2024 was $130.6 million, increasing by 70% compared to the first 9 months of 2023. The company reduced total debt net of cash by $122 million compared to Q3 2023.
Share Buyback Program
A $50 million share repurchase program was announced, affirming confidence in the business's future.
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ALG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $169.54 | $187.48 | +10.58% |
| Jul 31, 2024 | $192.44 | $184.51 | -4.12% |
| May 02, 2024 | $194.67 | $193.40 | -0.65% |
| Feb 22, 2024 | $213.43 | $202.71 | -5.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Alamo Group (ALG) report earnings?
Alamo Group (ALG) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Alamo Group (ALG) earnings time?
Alamo Group (ALG) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALG EPS forecast?
ALG EPS forecast for the fiscal quarter 2024 (Q4) is $2.35.
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