Alamo Group Q2 Sales Top Estimates, But EPS Misses by 7%
ALG is trading near its 52-week low of $145.76 (12% above the low).
Summary
Alamo Group reported Q2 sales of $450.7M, beating the $437.5M consensus, driven by 12.8% growth in its Industrial Equipment Division. However, EPS of $2.55 missed estimates by $0.19, and net income of $30.9M also fell short. The mixed results reflect organic demand gains offset by margin pressure, with management citing mixed end markets and a focus on cost discipline. This follows a Q1 where sales rose but net income declined, and a recent $602.5M credit facility secured in May. The earnings miss on the bottom line may weigh on the stock despite the top-line beat.
At the time of this announcement, ALG was trading at $163.93 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2B. The 52-week trading range was $145.76 to $233.29. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.