NYSE$ALG
Alamo Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Alamo Group's financial performance decreased due to global softness in Vegetation Management, while Industrial Equipment Division showed strong growth.
Alamo Group reported a decrease in net sales and net income for the second quarter of 2024 compared to the previous year. The decrease was primarily driven by softness in the Vegetation Management segment, while the Industrial Equipment segment performed strongly. Cost reduction actions are expected to yield savings in the remainder of 2024.
- Net sales decreased by 5.5% to $416.3 million compared to the prior year.
- Industrial Equipment net sales increased by 14.2% to $204.8 million.
- Vegetation Management net sales decreased by 19.1% to $211.5 million.
- Net income decreased to $28.3 million, with EPS of $2.35 per share.
Headline financials
Revenue & EPS history
Alamo Group · Revenue · Quarterly
$416M
Revenue by segment
Alamo Group · $219M total across 1 segment · Q3 2021
- Industrial Equipment$219M+11.6%100.0%
Forward guidance
The company's outlook for the third quarter and the balance of 2024 remains somewhat cautious due to the need to reduce channel inventory in the Vegetation Management segment. However, the prospects for the Industrial Equipment Division remain excellent.
Tailwinds
- Prospects for the Industrial Equipment Division remain excellent for the remainder of 2024 and into the first quarter of 2025.
- Industrial Equipment Division has a robust order backlog.
- Industrial Equipment Division has a healthy pipeline of active sales opportunities.
- Cost reduction measures already taken are expected to benefit results in the second half of 2024 and beyond.
- Progress is being made and dealer inventories are moving lower.
Headwinds
- More work remains to be done to reduce channel inventory.
- The outlook for the third quarter and the balance of 2024 remains somewhat cautious.
- Global softness in the markets for Vegetation Management equipment continued.
- Channel inventories remained above normal levels.
- Market situation in Vegetation Management requiring actions to improve operating efficiencies, reduce costs and eliminate excess capacity.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.8%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.8%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+23.2%
Q3 2014
Best reaction
-16.2%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.3% | -4.4% | -13.0% | |
| Q4 2025 | -15.7% | -23.0% | -23.0% | |
| Q3 2025 | +0.8% | +0.2% | -9.3% | |
| Q1 2025 | +6.9% | +12.3% | +16.0% | |
| Q4 2024 | -5.0% | -3.3% | -1.9% | |
| Q3 2024 | +8.3% | +7.9% | +15.5% | |
| Q2 2024 | -3.3% | -9.4% | -2.9% | |
| Q1 2024 | +0.0% | +0.1% | -2.0% | |
| Q4 2023 | -5.1% | -5.8% | -0.1% | |
| Q3 2023 | +14.0% | +14.5% | +18.2% | |
| Q2 2023 | -7.4% | -7.4% | -9.3% | |
| Q1 2023 | +1.1% | +1.7% | +0.7% | |
| Q4 2022 | +10.8% | +13.3% | +9.8% | |
| Q3 2022 | -4.4% | -0.9% | +1.4% | |
| Q2 2022 | +4.0% | +5.6% | +1.0% | |
| Q1 2022 | -4.7% | -9.8% | -5.9% | |
| Q4 2021 | +2.4% | +2.7% | +9.5% | |
| Q3 2021 | -1.9% | +1.9% | -7.8% | |
| Q2 2021 | +0.1% | +2.0% | +6.3% | |
| Q1 2021 | +1.5% | +0.4% | -5.5% | |
| Q4 2020 | -5.3% | -4.1% | -4.9% | |
| Q3 2020 | +0.0% | +3.9% | +14.8% | |
| Q2 2020 | +4.6% | +5.6% | +9.7% | |
| Q1 2020 | +3.6% | +2.5% | +22.6% | |
| Q4 2019 | -9.5% | -6.6% | -25.8% | |
| Q3 2019 | -16.2% | -14.4% | -10.2% | |
| Q2 2019 | +9.9% | +7.8% | +14.7% | |
| Q1 2019 | -0.1% | +1.9% | -8.4% | |
| Q4 2018 | +2.0% | +2.5% | +5.2% | |
| Q3 2018 | +6.0% | +1.7% | -3.5% | |
| Q2 2018 | +0.7% | +1.7% | +2.5% | |
| Q1 2018 | -12.7% | -14.6% | -14.6% | |
| Q4 2017 | -4.0% | +0.7% | -1.1% | |
| Q3 2017 | +4.0% | +4.9% | +11.8% | |
| Q2 2017 | -2.3% | -0.9% | -1.4% | |
| Q1 2017 | +4.2% | +6.8% | +9.8% | |
| Q4 2016 | -3.1% | -3.7% | -2.2% | |
| Q3 2016 | +0.2% | +4.3% | +14.3% | |
| Q2 2016 | -3.4% | -1.4% | -0.5% | |
| Q1 2016 | +0.7% | — | — | |
| Q4 2015 | +12.5% | — | — | |
| Q3 2015 | +10.8% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -7.1% | — | — | |
| Q4 2014 | +18.5% | — | — | |
| Q3 2014 | +23.2% | — | — | |
| Q2 2014 | +0.5% | — | — | |
| Q1 2014 | -6.1% | — | — | |
| Q4 2013 | +8.5% | — | — | |
| Q3 2013 | +6.4% | — | — | |
| Q2 2013 | +5.3% | — | — | |
| Q1 2013 | +2.4% | — | — | |
| Q4 2012 | +2.7% | — | — | |
| Q3 2012 | -3.8% | — | — | |
| Q2 2012 | -4.2% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2009 | +2.5% | — | — | |
| Q4 2011 | +2.5% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q3 2011 | -1.0% | — | — | |
| Q2 2011 | -2.6% | — | — | |
| Q2 2010 | -2.6% | — | — | |
| Q4 2010 | -2.6% | — | — | |
| Q1 2010 | +7.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro