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Alamo Group (ALG) investor relations material
Alamo Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Q3 2025 net sales rose 4.7% to $420 million, driven by strong Industrial Equipment Division growth, while Vegetation Management Division continued to face market weakness and production challenges.
Net income for Q3 2025 was $25.4 million, down from $27.4 million in Q3 2024, with adjusted net income at $28 million and adjusted EPS at $2.34.
Operating cash flow for the first nine months of 2025 was $102.4 million, or 116% of net income.
Backlog at September 30, 2025, was $618.3 million, down 15% year-over-year, but new orders increased 6%.
The company is executing a footprint optimization program in Vegetation Management, expecting temporary inefficiencies but long-term cost reductions.
Financial highlights
Q3 2025 net sales were $420 million, up 4.7% year-over-year, with 3.4% organic growth; gross profit was $101.7 million, up 0.8%, but gross margin declined to 24.2%.
Adjusted EBITDA for Q3 2025 was $55 million (13.1% of net sales), flat year-over-year; operating margin was 8.9%.
SG&A expense for Q3 2025 rose 5.6% to $59.9 million, including $3.3 million in CEO transition and acquisition costs.
Interest expense decreased to $3.9 million in Q3 and $10.8 million for the nine months; interest income increased to $1.5 million.
Adjusted EPS was $2.34, down from $2.38 in Q3 2024; fully diluted EPS was $2.10.
Outlook and guidance
Q4 sales are expected to decline 4-5% sequentially due to seasonality, with no immediate improvement in Vegetation Management margins.
Industrial Equipment Division growth is expected to moderate in 2026, while Vegetation Management Division margins may improve after one to two more quarters as consolidation benefits materialize.
Long-term targets include 10%+ sales growth (including M&A), 15% adjusted operating margin, 18-20% adjusted EBITDA margin, and free cash flow at 100% of net income.
Capital expenditures for 2025 are expected to be $30–35 million, funded by operating cash flows or credit facility.
Management believes liquidity and access to credit are sufficient, with $397.2 million in available borrowings.
Timeline for VM production efficiency gains?
Industrial growth drivers beyond stimulus?
M&A's role in 10% sales growth target?
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Next Alamo Group earnings date
Q4 202527 Feb, 2026
Next Alamo Group earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
Alamo Group Inc., founded in 1969 and listed on the NYSE under the symbol ALG, is a leading manufacturer and distributor of equipment for infrastructure maintenance, agriculture, and other applications. The company operates through two main divisions: the Industrial Equipment Division and the Vegetation Management Division, showcasing its diverse range of products that include truck and tractor mounted mowing, other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, and other industrial equipment, along with agricultural implements and related after-market parts and services. The company is headquartered in Seguin, Texas, and its shares are listed on the New York Stock Exchange.
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