Alamo group announces financial results for the second quarter of 2024

Seguin, texas , july 31, 2024 /prnewswire/ -- alamo group inc. (nyse: alg) today reported results for the second quarter ended june 30, 2024. highlights for the quarter net sales of $416.3 million, down 5.5% versus prior year industrial equipment net sales of $204.8 million, up 14.2% vegetation management net sales of $211.5 million, down 19.1% income from operations of $43.3 million, 10.4% of net sales net income of $28.3 million second quarter fully diluted eps of $2.35 per share; eps results of $2.35 per share include the unfavorable impact of gradall strike of approximately $0.22 per share total debt net of cash improved $60.5 million or 25.7% compared to second quarter 2023 (1) backlog remained healthy at $768.9 million at the end of the second quarter 2024 (1) trailing twelve-month ebitda of $236.6 million, at 14.1% of net sales (1) cost reduction actions taken expected to achieve approximately $10 million of savings in the remainder of 2024, net of restructuring costs results for the quarter second quarter 2024 net sales were $416.3 million compared to $440.7 million in the second quarter of 2023.
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