Alamo group announces financial results for the fourth quarter and year end 2024

Seguin, texas , feb. 27, 2025 /prnewswire/ -- alamo group inc. (nyse: alg) today reported results for the fourth quarter and fiscal year ended december 31, 2024. highlights: fourth quarter results: net sales of $385.3 million, down 7.7% versus prior year industrial equipment division net sales of $225.5 million, up 11.0% vegetation management division net sales of $159.8 million, down 25.5% income from operations of $34.4 million, 8.9% of net sales fourth quarter results include approximately $1.0 million in separation costs net income of $28.1 million fully diluted eps of $2.33 per share; fully diluted eps of $2.39, excluding fourth quarter separation costs (1) full year results: net sales of $1.629 billion, down 3.6% versus prior year industrial equipment division net sales of $843.3 million, up 18.7% vegetation management division net sales of $785.2 million, down 19.8% income from operations of $164.8 million, 10.1% of net sales, double-digit profitability, despite market headwinds total impact from cost reduction efforts in 2024 was approximately $6.1 million, including approximately $4.2 million in separation expenses total impact from the labor strike at gradall industries was approximately $3.6 million net income of $115.9 million fully diluted eps of $9.63 per share; fully diluted eps of $10.12, excluding impacts of separation expenses and gradall strike (1) operating cash flow of $209.8 million driven by disciplined inventory management and efficient receivables control total debt was $220.5 million.
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