# EDGAR Filing Document

**Accession Number:** 0000897077
**File Stem:** 0000897077-25-000102
**Filing Date:** 2025-8
**Character Count:** 29715
**Document Hash:** 9525aaf97581c40302efae6f6b7b697b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000897077-25-000102.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0000897077-25-000102

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250806

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250806

**DATE AS OF CHANGE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALAMO GROUP INC
- **CENTRAL INDEX KEY:** 0000897077
- **STANDARD INDUSTRIAL CLASSIFICATION:** FARM MACHINERY & EQUIPMENT [3523]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 741621248
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13854
- **FILM NUMBER:** 251190382

**BUSINESS ADDRESS:**
- **STREET 1:** 1627 E WALNUT
- **CITY:** SEGUIN
- **STATE:** TX
- **ZIP:** 78155
- **BUSINESS PHONE:** 8303791480

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 549
- **STREET 2:** 1627 EAST WALNUT
- **CITY:** SEGUIN
- **STATE:** TX
- **ZIP:** 78155

?xml version='1.0' encoding='ASCII'? alg-20250806

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): August 6, 2025

**<u>Alamo Group Inc.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **<u>State of Delaware</u>** | **<u>0-21220</u>** | **<u>74-1621248</u>** |
| (State or other jurisdiction of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |

---

---

| | |
|:---|:---|
| **1627 E. Walnut, Seguin, Texas** | **78155** |
| (Address of Registrant's principal executive offices) | (Zip Code) |

---

---

| | | |
|:---|:---|:---|
| | **<u>(830) 379-1480</u>** | |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | Registrant's telephone number, including area code: |
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| **Common Stock, par value**<br>**$.10 per share** | **ALG** | **New York Stock Exchange** |
| **Common Stock, par value**<br>**$.10 per share** |  |  |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of

the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of

1934 (§240.12b-2 of this chapter).Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the

extended transition period for complying with any new or revised financial accounting standards provided

pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02 <u>Results of Operations and Financial Condition</u>**

On August 6, 2025, Alamo Group Inc., a Delaware corporation (the "Company"), issued a press release announcing, among other things, financial results for the quarter ended June 30, 2025. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K. The foregoing description is qualified by reference to such exhibit.

**Item 9.01 <u>Financial Statements and Exhibits</u>**

Exhibit 99.1 - <u>[Press Release](ex991q22025.htm)</u> dated August 6, 2025.

Exhibit 104 - Cover Page Interactive Data File - Inline XBRL for the cover page of this Current Report on Form 8-K

------

<u>SIGNATURES</u>

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| August 6, 2025 | By: <u>/s/ Edward T. Rizzuti&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Edward T. Rizzuti, |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EVP, Corporate Development & Investor Relations & Secretary |

---

## Exhibit 99.1

---

| | | |
|:---|:---|:---|
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) | **For:** | **Alamo Group Inc.** |
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) |  |  |
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) | Contact: | Edward Rizzuti |
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) |  | EVP Corporate Development & Investor Relations |
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) |  | 830-372-9600 |
| ![alamo_groupxlogoxprimary1a.jpg](alamo_groupxlogoxprimary1a.jpg) |  |  |
|  |  | Financial Relations Board |
|  |  | Joe Calabrese |
|  |  | 212-827-3772 |

---

**ALAMO GROUP ANNOUNCES STRONG OPERATING**

**RESULTS FOR THE SECOND QUARTER 2025**

SEGUIN, Texas, August 6, 2025 -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2025.

**<u>Highlights:</u>** 

**▪ Net Sales of $419.1 million, up 0.7% vs. the second quarter of 2024 and up 7.2% vs. the first quarter of 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**▪ Industrial Equipment Division net sales of $240.7 million grew organically 17.6% year-over-year and 6.0% vs. the first quarter of 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**▪ Vegetation Management Division net sales of $178.4 million declined 15.7% year-over-year but grew 8.8% vs. the first quarter of 2025**

**▪ Income from operations of $47.1 million, 11.2% of net sales – an 83 basis point improvement versus the second quarter of 2024** 

**▪ Net Income of $31.1 million up 9.8% versus the second quarter of 2024**

**▪ Fully diluted EPS was $2.57 per share, an improvement of $0.22 per share compared to the second quarter of 2024; EPS results for the quarter include an unfavorable currency revaluation impact of $0.21 per share** 

**▪ Total debt was $213.1 million. Total debt net of cash was further reduced to $11.3 million, representing an improvement of $163.8 million or 93.5% compared to the second quarter in 2024** <sup>(1)</sup>

**▪ Backlog at the end of the second quarter was $687.2 million – an improvement of 2.8% from year-end 2024**

**▪ Trailing twelve-month EBITDA of $219.1 million was 13.7% of Net Sales** <sup>(1)</sup>

------

**ALAMO GROUP ANNOUNCES 2025 SECOND QUARTER SALES AND EARNINGS Page 2**

**Second Quarter Results** 

Second quarter 2025 net sales of $419.1 million increased 0.7% compared to $416.3 million in the second quarter of 2024. Gross profit was $108.3 million or 25.8% of net sales compared to $108.2 million or 26.0% of net sales in the second quarter of 2024. SG&A expenses of $57.1 million or 13.6% of net sales declined by 6.1% compared to the second quarter in 2024, reflecting successful cost reduction efforts completed in 2024. Income from operations was $47.1 million or 11.2% of net sales, representing an increase of 83 basis points compared to the second quarter of 2024. The Vegetation Management Division second quarter sales of $178.4 million declined 15.7% versus second quarter of 2024 but increased sequentially by 8.8%. Division operating margin of 7.1% included costs associated with manufacturing facility consolidations. The Industrial Equipment Division sales of $240.7 million delivered strong organic growth of 17.6% compared to the second quarter of 2024 and increased 6.0% sequentially. The division delivered an operating margin of 14.3%, representing 93 basis points improvement versus the second quarter of 2024.

Net income was $31.1 million, or $2.57 per diluted share, compared to $28.3 million or $2.35 per diluted share, in the second quarter of 2024. The 9.8% increase year-over-year was driven by stronger operating results. Second quarter EPS included an unfavorable impact to net income of $2.5 million, or approximately $0.21 per share, primarily due to the revaluation of US dollar-denominated monetary assets held in our Canadian entities. By comparison, EPS in the second quarter of 2024 included a favorable impact of $0.2 million to net income, or approximately $0.02 per share.

The Company's backlog at the end of the second quarter remained healthy at $687.2 million. The Vegetation Management Division backlog held steady at $177.6 million, while the Industrial Equipment Division backlog remained strong at $509.6 million.

The Company's balance sheet was exceptionally strong. Accounts receivable were $356.2 million with DSO of 81 days, an improvement versus prior year of 3 days. Inventory was $372.1 million compared to $385.1 million in the second quarter of 2024. Operating cash flow year-to-date was $36.9 million, resulting in cash and cash equivalents of $201.8 million at the end of the quarter.

As we look forward to the remainder of the year, we anticipate continued operational gains driven in part by improved productivity in the Vegetation Management Division. While the economic situation related to tariffs remains somewhat uncertain, we remain confident in our ability to navigate these headwinds and remain committed to capitalizing on growth opportunities.

------

**ALAMO GROUP ANNOUNCES 2025 SECOND QUARTER SALES AND EARNINGS Page 3**

**Comments on Results** 

Jeff Leonard, Alamo Group's President and Chief Executive Officer commented, "The Company's solid second quarter results reflected improved operating margin performance. The results were primarily driven by sustained strong demand from governmental agencies and specialty contractors for products offered by the Industrial Equipment Division, coupled with encouraging sequential recovery in markets served by the Vegetation Management Division. While consolidated net sales growth was modest compared to a strong prior year second quarter, sequential improvement exceeded 7%.

We were pleased to have again demonstrated strong organic growth in the Industrial Equipment Division, where net sales in the quarter rose by nearly 18% compared to the same period last year. Notably, sales of vacuum trucks and snow removal equipment increased more than 20%, supported by healthy demand and market share gains. Strong sales and improved operating efficiencies in this division drove nearly one hundred basis point margin expansion to 14.3%. Ordering activity remained robust across all product groups, and backlog at quarter end in this division remained above $0.5 billion, providing solid visibility and a positive view of demand through year end.

The Vegetation Management Division continued to show modest but steady improvements in its key markets. As expected, net sales in this division were down approximately 16% compared to the second quarter of 2024 but rose nearly 9% sequentially. The division's operating margin reflected the effects of recent facility consolidation costs, which are now nearing completion. While backlog was reduced due to improving lead-times in the consolidated facilities, we were encouraged to see order volumes increase for the fifth consecutive quarter, resulting in a year-over-year increase for the first half of 2025.

The Company's consolidated operating margin of 11.2% improved by eighty three basis points from the second quarter of 2024. Growth in the Industrial Equipment Division, combined with greater factory efficiencies, helped to offset some early-quarter softness in the Vegetation Management Division.

During the second quarter of 2025, we were pleased to welcome Ring-O-Matic to our Alamo Group family. Ring-O-Matic manufactures a full line of industrial vacuum excavation equipment, specializing in trailer-mounted units. The acquired business aligns well with our strategic focus on expanding market share and strengthening our current product portfolio and will be part of our Excavator and Vacuum Trucks group. The acquisition was funded with existing cash on hand.

------

**ALAMO GROUP ANNOUNCES 2025 SECOND QUARTER SALES AND EARNINGS Page 4**

Looking ahead, we remain optimistic regarding the Company's prospects for at least the next several quarters. Most market indicators during the second quarter were positive. Operationally, we expect that our Industrial Equipment Division will continue its strong performance through at least the end of the year and into 2026, while the Vegetation Management Division is poised to improve further, driven by stronger order flow supported by enhanced operational gains following the completion of our plant consolidations. While we remain mindful of ongoing global trade uncertainty, we firmly believe the Company is well positioned for continued improvement in operating performance. In addition, we expect to leverage our strong balance sheet to accelerate both organic and inorganic growth."

**Earnings Conference Call**

The Company will host a conference call to discuss the second quarter results on Thursday, August 7, 2025, at 8:30 a.m. ET. Hosting the call will be members of senior management. Individuals wishing to participate in the conference call should dial (866) 524-3159 (domestic) or (412) 317-6759 (international). For interested individuals unable to join the call, a replay will be available until Thursday, August 21, by dialing (877) 344-7529 (domestic) or (412) 317-0088 (internationally), passcode 7888480.

The live broadcast of Alamo Group Inc.'s quarterly conference call will be available online at the Company's website, www.alamo-group.com (under "Investor Relations/Events and Presentations") on Thursday, August 7, 2025, beginning at 8:30 a.m. ET. The online replay will follow shortly after the call ends and will be archived on the Company's website for 60 days.

**About Alamo Group**

Alamo Group is a leader in the design, manufacture, distribution, and service of high-quality equipment for vegetation management, infrastructure maintenance and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has approximately 3,800 employees and operates 27 plants in North America, Europe, Australia, and Brazil as of June 30, 2025. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.

**Forward Looking Statements** 

*This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: adverse economic conditions which could lead to a reduction in overall market demand, supply chain disruptions, labor constraints, increasing costs due to inflation, disease* 

------

**ALAMO GROUP ANNOUNCES 2025 SECOND QUARTER SALES AND EARNINGS Page 5**

*outbreaks, geopolitical risks, including tariffs, trade wars, and the effects of the war in the Ukraine and the Middle East, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.*

**(Tables Follow)**

\# \# \#

(1) This is a non-GAAP financial measure or other information relating to our GAAP financial measures that we have provided to investors in order to allow greater transparency and a deeper understanding of our financial condition and operating results. For a reconciliation of the non-GAAP financial measure or for a more detailed explanation of financial results, refer to "Non-GAAP Financial Measure Reconciliation" below and the Attachments thereto.

------

**Page 6**

**Alamo Group Inc. and Subsidiaries** 

**Condensed Consolidated Statements of Income**

**(in thousands, except per share amounts)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **6/30/2025** | **6/30/2024** | **6/30/2025** | **6/30/2024** |
| Net sales: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vegetation Management | $178358 | $211535 | $342248 | $435282 |
| &nbsp;&nbsp;&nbsp;&nbsp;Industrial Equipment | 240715 | 204768 | 467775 | 406607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net sales | 419073 | 416303 | 810023 | 841889 |
| Cost of sales | 310781 | 308122 | 598890 | 622076 |
| Gross margin | 108292 | 108181 | 211133 | 219813 |
|  | 25.8% | 26.0% | 26.1% | 26.1% |
| Selling, general and administration expense | 57136 | 60817 | 111466 | 121411 |
| Amortization expense | 4078 | 4055 | 8127 | 8114 |
| Income from operations | 47078 | 43309 | 91540 | 90288 |
|  | 11.2% | 10.4% | 11.3% | 10.7% |
| Interest expense | (3684) | (6098) | (6878) | (12189) |
| Interest income | 1195 | 514 | 2433 | 1315 |
| Other income (expense) | (3183) | (65) | (3846) | 33 |
| Income before income taxes | 41406 | 37660 | 83249 | 79447 |
| Provision for income taxes | 10300 | 9336 | 20343 | 19003 |
| Net Income | $31106 | $28324 | $62906 | $60444 |
| Net income per common share: |  |  |  |  |
| Basic | $2.59 | $2.36 | $5.24 | $5.05 |
| Diluted | $2.57 | $2.35 | $5.21 | $5.02 |
| Average common shares: |  |  |  |  |
| Basic | 12020 | 11974 | 12005 | 11959 |
| Diluted | 12083 | 12044 | 12066 | 12032 |

---

------

**Page 7**

**Alamo Group Inc. and Subsidiaries**

**Condensed Consolidated Balance Sheets**

**(in thousands)**

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
| | **June 30,<br>2025** | **June 30,<br>2024** |
| **ASSETS** | | |
| &nbsp;&nbsp;&nbsp;Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $201823 | $118535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 356236 | 388512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 372074 | 385136 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 12461 | 15293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 942594 | 907476 |
| &nbsp;&nbsp;&nbsp;Rental equipment, net | 59606 | 46630 |
| &nbsp;&nbsp;&nbsp;Property, plant and equipment | 160716 | 161603 |
| &nbsp;&nbsp;&nbsp;Goodwill | 221607 | 204766 |
| &nbsp;&nbsp;&nbsp;Intangible assets | 145040 | 159708 |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 28086 | 25787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $1557649 | $1505970 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | $111820 | $102947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 3973 | 12829 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 76113 | 76772 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current maturities of long-term debt and finance lease obligations | 15000 | 15008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 206906 | 207556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt, net of current maturities | 198115 | 278591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term tax liability | 626 | 490 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other long-term liabilities | 25975 | 23964 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 10631 | 15653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 442253 | 526254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1115396 | 979716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $1557649 | $1505970 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**Page 8**

**<u>Alamo Group Inc.</u>**

**<u>Non-GAAP Financial Measures Reconciliation</u>**

From time to time, Alamo Group Inc. may disclose certain "non-GAAP financial measures" in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. For these purposes, "GAAP" refers to generally accepted accounting principles in the United States. The Securities and Exchange Commission (SEC) defines a "non-GAAP financial measure" as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude or include amounts from the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures disclosed by Alamo Group are provided as additional information to investors in order to provide them with greater transparency about, or an alternative method for assessing, our financial condition and operating results. These measures are not in accordance with, or a substitute for, GAAP and may be different from, or inconsistent with, non-GAAP financial measures used by other companies. Whenever we refer to a non-GAAP financial measure, we will also generally present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.

Attachment 1 discloses Operating Income, Adjusted Net Income and Adjusted Diluted EPS, related to the impact of non-recurring items, of which are non-GAAP financial measures. Attachment 2 discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division. Attachment 3 shows the net change in our total debt net of cash and earnings before interest, taxes, depreciation and amortization ("EBITDA") which is a non-GAAP financial measure. The Company considers this information useful to investors to allow better comparability of period-to-period operating performance. Attachment 4 reflects Division performance inclusive of non-GAAP financial measures such as backlog and earnings before interest, tax, depreciation and amortization ("EBITDA").

------

**Page 9**

**Attachment 1**

**Alamo Group Inc.**

**Non-GAAP Financial Reconciliation**

**(in thousands, except per share numbers)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Impact of Non-recurring Items** | **Impact of Non-recurring Items** | **Impact of Non-recurring Items** | **Impact of Non-recurring Items** | **Impact of Non-recurring Items** |
| | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Operating Income - GAAP** | $**47078** | $**43309** | $**91540** | $**90288** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (add: workforce reduction) |  | 1138 | 82 | 1619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted Operating Income - non-GAAP** | $**47078** | $**44447** | $**91622** | $**91907** |
| **Net Income - GAAP** | $**31106** | $**28324** | $62906 | $60444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(add: workforce reduction) |  | 866 | 62 | 1232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted Net Income - non-GAAP** | $**31106** | $**29190** | $**62968** | $**61676** |
| **Diluted EPS - GAAP** | $**2.57** | $**2.35** | $5.21 | $5.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(add: workforce reduction) |  | 0.07 | 0.01 | 0.10 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjusted Diluted EPS - non-GAAP** | $**2.57** | $**2.42** | $**5.22** | $**5.12** |

---

------

**Page 10**

**Attachment 2** 

**Alamo Group Inc.**

**Non-GAAP Financial Reconciliation**

**(in thousands)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Impact of Currency Translation on Net Sales by Division** | **Impact of Currency Translation on Net Sales by Division** | **Impact of Currency Translation on Net Sales by Division** | **Impact of Currency Translation on Net Sales by Division** | **Impact of Currency Translation on Net Sales by Division** |
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | | **Change due to currency translation** |
|  | **2025** | **2024** | **% change from 2024** | $**%** |
| Vegetation Management | $178358 | $211535 | (15.7)% | 0.3% |
| Industrial Equipment | 240715 | 204768 | 17.6% | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net sales | $419073 | $416303 | 0.7% | 0.3% |
|  | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |  | **Change due to currency translation** |
|  | **2025** | **2024** | **% change from 2024** | $**%** |
| Vegetation Management | $342248 | $435282 | (21.4)% | (0.4)% |
| Industrial Equipment | 467775 | 406607 | 15.0% | (0.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total net sales | $810023 | $841889 | (3.8)% | (0.5)% |

---

------

**Page 11**

**Attachment 3**

**Alamo Group Inc.**

**Non-GAAP Financial Reconciliation**

**(in thousands)**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Consolidated Net Change of Total Debt, Net of Cash** | **Consolidated Net Change of Total Debt, Net of Cash** | **Consolidated Net Change of Total Debt, Net of Cash** | **Consolidated Net Change of Total Debt, Net of Cash** |
| | **June 30, 2025** | **June 30, 2024** | **Net Change** |
| Current maturities | $15000 | $15008 |  |
| Long-term debt,net of current | 198115 | 278591 |  |
| Total debt | $213115 | $293599 |  |
| Total cash | 201823 | 118535 |  |
| **&nbsp;&nbsp;&nbsp;&nbsp; Total Debt Net of Cash** | $11292 | $175064 | $(163772) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **EBITDA** | **EBITDA** | **EBITDA** | **EBITDA** | **EBITDA** |
| | **Six Months Ended** | **Six Months Ended** | **Trailing Twelve Months Ended** | **Trailing Twelve Months Ended** |
| | **June 30, 2025** | **June 30, 2024** | **June 30, 2025** | **December 31, 2024** |
| **Net Income** | $62906 | $60444 | $118392 | $115930 |
| Interest, net | 4445 | 10874 | 11482 | 17911 |
| Provision for income taxes | 20343 | 19003 | 35038 | 33698 |
| Depreciation | 19217 | 18093 | 37981 | 36857 |
| Amortization | 8127 | 8114 | 16240 | 16227 |
| **&nbsp;&nbsp;&nbsp;&nbsp; EBITDA** | $115038 | $116528 | $219133 | $220623 |

---

------

**Page 12**

**Attachment 4**

**Alamo Group Inc.**

**Non-GAAP Financial Reconciliation**

**(in thousands)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Vegetation Management Division Performance** | **Vegetation Management Division Performance** | **Vegetation Management Division Performance** | **Vegetation Management Division Performance** | **Vegetation Management Division Performance** |
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Backlog |  |  | $177625 | $217967 |
| Net Sales | $178358 | $211535 | 342248 | 435282 |
| Income from Operations | 12751 | 16006 | 26063 | 37685 |
|  | 7.1% | 7.6% | 7.6% | 8.7% |
| Depreciation | 4253 | 4434 | 8305 | 8767 |
| Amortization | 2946 | 2928 | 5866 | 5859 |
| Other income (expense) | (2288) | 102 | (2591) | 274 |
| EBITDA | 17662 | 23470 | 37643 | 52585 |
|  | 9.9% | 11.1% | 11.0% | 12.1% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Industrial Equipment Division Performance** | **Industrial Equipment Division Performance** | **Industrial Equipment Division Performance** | **Industrial Equipment Division Performance** | **Industrial Equipment Division Performance** |
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Backlog |  |  | $509610 | $550922 |
| Net Sales | $240715 | $204768 | 467775 | 406607 |
| Income from Operations | 34327 | 27303 | 65477 | 52603 |
|  | 14.3% | 13.3% | 14.0% | 12.9% |
| Depreciation | 5519 | 4724 | 10912 | 9326 |
| Amortization | 1132 | 1127 | 2261 | 2255 |
| Other income (expense) | (895) | (167) | (1255) | (241) |
| EBITDA | 40083 | 32987 | 77395 | 63943 |
|  | 16.7% | 16.1% | 16.5% | 15.7% |

---

<br>