| |
14.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
The following tables set forth, for the periods indicated, certain financial data:
| | | | | | | | | | | | | | | | | | | | | | | |
As a Percent of Net Sales | Three Months Ended
June 30, | | Six Months Ended
June 30, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Vegetation Management | 42.6 | % | | 50.8 | % | | 42.3 | % | | 51.7 | % |
| Industrial Equipment | 57.4 | % | | 49.2 | % | | 57.7 | % | | 48.3 | % |
|
Total sales, net | 100.0 | % | | 100.0 | % | | 100.0 | % | | 100.0 | % |
| | | | | | | | | | | | | | | | | | | | | | | |
Cost Trends and Profit Margin, as Percentages of Net Sales | Three Months Ended
June 30, | | Six Months Ended
June 30, |
| 2025 | | 2024 | | 2025 | | 2024 |
| Gross profit | 25.8 | % | | 26.0 | % | | 26.1 | % | | 26.1 | % |
| Income from operations | 11.2 | % | | 10.4 | % | | 11.3 | % | | 10.7 | % |
| Income before income taxes | 9.9 | % | | 9.0 | % | | 10.3 | % | | 9.4 | % |
| Net income | 7.4 | % | | 6.8 | % | | 7.8 | % | | 7.2 | % |
Overview
This report contains forward-looking statements that are based on Alamo Group’s current expectations. Actual results in future periods may differ materially from those expressed or implied because of a number of risks and uncertainties which are discussed below and in the Forward-Looking Information section. Unless the context otherwise requires, the terms the "Company", "we", "our" and "us" means Alamo Group Inc.
We continue to experience strong demand for our products in the Industrial Equipment Division during the first six months of 2025, resulting in 15% organic growth compared to the first six months in 2024. Forestry, tree care, and agricultural industries remained weaker, leading to 21% sales decline in the Vegetation Management Division. Gross profit margins remained flat in spite of sales decline, driven by the cost reduction actions completed in 2024, as well as continuous operational improvements.
For the six months of 2025, the Company's net sales decreased by 4%, but income from operations improved 1% and net income improved 4% compared to the same period in 2024. The decrease in net sales was driven by weakness in the markets served by our Vegetation Management Division. Additionally, the sale of Herschel Parts on August 16, 2024 had a negative impact to year-on-year sales, albeit immaterial on a total Company basis. These challenges were offset by strong sales growth in the Industrial Equipment Division.
Net Sales in the Vegetation Management Division decreased 21% for the first six months of 2025 compared to the same period in 2024. The Division's backlog declined 19%, but new orders increased 14% for the first six months of 2025 compared to the first six months of 2024. The Division's income from operations for the first six months of 2025 declined 31% versus the same period in 2024. The cost savings initiatives the Company completed in the second half of 2024 did not fully offset the sales decline and operational inefficiencies related to the factory consolidations.
Net Sales in the Industrial Equipment Division increased in the first six months of 2025 by 15% compared to the first six months of 2024, driven by growth in excavators, vacuum trucks, and snow removal. The Division’s backlog has declined by 7% compared to the same period in 2024 but improved by 6% compared to the fourth quarter of 2024. The Division's income from operations for the first six months of 2025 was up 24% versus the same period in 2024, due to increased demand combined with operational improvements across all operating companies in this Division.
Consolidated income from operations was $91.5 million in the first six months of 2025 compared to $90.3 million in the first six months of 2024, an increase of 1%. The Company's backlog of $687.2 million at the end of the first six months of 2025 is down 11% versus a backlog of $768.9 million at the end of the first six months of 2024.
As part of the ongoing consolidation within the Vegetation Management Division, the Gibson City, Illinois facility has been designated for disposition and is reported on the balance sheet under Other Non-Current Assets as held-for-sale.
Results of Operations
Three Months Ended June 30, 2025 vs. Three Months Ended June 30, 2024
Net sales for the second quarter of 2025 were $419.1 million, an increase of $2.8 million or 1% compared to $416.3 million for the second quarter of 2024. Net sales during the second quarter of 2025 increased due to strong demand for Industrial Equipment, but was offset by the weaker market demand in forestry, tree care, and agricultural mowing.
Net Vegetation Management sales decreased by $33.1 million or 16% to $178.4 million for the second quarter of 2025 compared to $211.5 million during the same period in 2024. The decrease was due to sustained weakness in forestry, tree care, and agricultural mowing markets. The sale of Herschel Parts on August 16, 2024, contributed slightly to the year-over-year decrease, but was immaterial to the overall results.
Net Industrial Equipment sales were $240.7 million in the second quarter of 2025 compared to $204.8 million for the same period in 2024, an increase of $35.9 million or 18%. The increase was due to solid demand in most product lines, particularly vacuum trucks and snow removal contributing the most to year-over-year growth.
Gross profit for the second quarter of 2025 was $108.3 million (26% of net sales) compared to $108.2 million (26% of net sales) during the same period in 2024, an increase of $0.1 million. Strong demand and performance in the Industrial Equipment Division supported the increase in gross profit during the second quarter of 2025 compared to the second quarter of 2024 and offset by the weaker demand in the Vegetation Management Division.
Selling, general and administrative expenses (“SG&A”) were $57.1 million (14% of net sales) during the second quarter of 2025 compared to $60.8 million (15% of net sales) during the same period of 2024, a decrease of $3.7 million attributable to labor cost savings actions taken in the Vegetation Management Division. Amortization expense in the second quarter of 2025 was $4.1 million compared to $4.1 million in the same period in 2024.
Interest expense was $3.7 million for the second quarter of 2025 compared to $6.1 million during the same period in 2024. The decrease in interest expense in the second quarter of 2025 was due to debt reduction.
Other income (expense), net was $3.2 million of expense for the second quarter of 2025 compared to $0.1 million of expense during the same period in 2024. The increase was primarily a result of unfavorable currency exchange rates.
Provision for income taxes was $10.3 million (25% of income before income tax) in the second quarter of 2025 compared to $9.3 million (25% of income before income tax) during the same period in 2024.
The Company’s net income after tax was $31.1 million or $2.57 per share on a diluted basis for the second quarter of 2025 compared to $28.3 million or $2.35 per share on a diluted basis for the second quarter of 2024.
Six Months Ended June 30, 2025 vs. Six Months Ended June 30, 2024
Net sales for the first six months of 2025 were $810.0 million, a decrease of $31.9 million or 4% compared to $841.9 million for the first six months of 2024. The decrease in net sales during the first six months of 2025 is a result of a steep decline in market demand in forestry, tree care, and agricultural mowing partially offset by continued strong demand for Industrial Equipment.
Net Vegetation Management sales decreased during the first six months by $93.1 million or 21% to $342.2 million for 2025 compared to $435.3 million during the same period in 2024. The decrease was due to weaker demand for forestry, tree care, and agricultural mowing markets. The sale of Herschel Parts on August 16, 2024, was immaterial to the year over year sales decrease.
Net Industrial Equipment sales were $467.8 million during the first six months of 2025 compared to $406.6 million for the same period in 2024, an increase of $61.2 million or 15%. The increase in sales for the first six months of 2025 compared to the first six months of 2024 was mainly due to the continued strong demand across the division in excavators, vacuum trucks, and snow removal.
Gross profit for the first six months of 2025 was $211.1 million (26% of net sales) compared to $219.8 million (26% of net sales) during the same period in 2024, a decrease of $8.7 million. The decrease in gross profit was mainly attributable to lower sales volume and production inefficiencies in Vegetation Management. Profitability in the first six months of 2025 remained flat compared to the same period in 2024.
SG&A expenses were $111.5 million (14% of net sales) during the first six months of 2025 compared to $121.4 million (14% of net sales) during the same period of 2024, a decrease of $9.9 million attributable to labor cost savings actions taken in Vegetation Management. Amortization expense in the first six months of 2025 was $8.1 million compared to $8.1 million in the same period in 2024. a decrease of $0.0 million.
Interest expense was $6.9 million for the first six months of 2025 compared to $12.2 million during the same period in 2024, a decrease of $5.3 million. The decrease in interest expense in the first six months of 2025 was mainly due to debt reduction.
Other income (expense), net was $3.8 million of expense during the first six months of 2025 compared to less than $0.1 million of income in the first six months of 2024. The increase was a result of unfavorable currency exchange rates.
Provision for income taxes was $20.3 million (24% of income before income taxes) in the first six months of 2025 compared to $19.0 million (24% of income before income taxes) during the same period in 2024.
The Company's net income after tax was $62.9 million or $5.21 per share on a diluted basis for the first six months of 2025 compared to $60.4 million or $5.02 per share on a diluted basis for the first six months of 2024. The increase of $2.5 million resulted from the factors described above.
Liquidity and Capital Resources
In addition to normal operating expenses, the Company has ongoing cash requirements which are necessary to operate the business, including inventory purchases and capital expenditures. The Company’s accounts receivable, inventory and accounts payable levels, particularly in its Vegetation Management Division, historically build in the first quarter and early spring and, to a lesser extent, in the fourth quarter in anticipation of the spring and fall selling seasons. Accounts receivable historically build in the first and fourth quarters of each year as a result of pre-season sales and year-round sales programs. These sales, primarily in the Vegetation Management Division, help balance the Company’s production during the first and fourth quarters.
As of June 30, 2025, the Company had working capital of $735.7 million which represents an increase of $68.5 million from working capital of $667.2 million at December 31, 2024. The increase in working capital was due to higher cash and cash equivalents as well as an increase in accounts receivable and inventory, partially offset by increase in accounts payable.
Capital expenditures were $13.0 million for the first six months of 2025, compared to $11.1 million during the first six months of 2024. The Company expects a capital expenditure level of approximately $30.0 million to $35.0 million for the full year of 2025. The Company will fund any future expenditures from operating cash flows or through our revolving credit facility, described below.
Net cash used for investing activities was $29.7 million during the first six months of 2025 compared to $10.3 million during the first six months of 2024.
Net cash used in financing activities was $15.1 million and net cash provided by financing activities was $47.2 million during the six month periods ended June 30, 2025 and June 30, 2024, respectively. Lower net cash provided by financing activities for the first six months of 2025 relates to no net borrowings from the revolver during the six months ended June 30, 2025, while paying down long-term debt and a quarterly dividend.
The Company had $146.7 million in cash and cash equivalents held by its foreign subsidiaries as of June 30, 2025. The majority of these funds are at our European and Canadian facilities. The Company will repatriate
European and Canadian cash and cash equivalents as needed to fund operating and investing activities, and will monitor exchange rates to determine the appropriate timing of such repatriation given the current relative value of the U.S. dollar. Repatriated funds will be used to reduce debt levels, and to fund working capital, capital investments, and acquisitions company-wide.
On October 28, 2022, the Company, as Borrower, and each of its domestic subsidiaries as guarantors, entered into a Third Amended and Restated Credit Agreement (the “2022 Credit Agreement”) with Bank of America, N.A., as Administrative Agent. The 2022 Credit Agreement provides Borrower with the ability to request loans and other financial obligations in an aggregate amount of up to $655.0 million. Under the 2022 Credit Agreement, the Company has borrowed $255.0 million pursuant to a Term Facility, while up to $400.0 million is available to the Company pursuant to a Revolver Facility which terminates in 2027. The Term Facility requires the Company to make equal quarterly principal payments of $3.75 million over the term of the loan, with the final payment of any outstanding principal amount, plus interest, due at the end of the five year term. Borrowings under the 2022 Credit Agreement bear interest, at the Company’s option, at a Term Secured Overnight Financing Rate (“SOFR”) or a Base Rate (each as defined in the 2022 Credit Agreement), plus, in each case, an applicable margin. The applicable margin ranges from 1.25% to 2.50% for Term SOFR borrowings and from .25% to 1.50% for Base Rate borrowings with the margin percentage based upon the Company's consolidated leverage ratio. The Company must also pay a commitment fee to the lenders ranging between 0.15% to 0.30% on any unused portion of the $400.0 million Revolver Facility. The 2022 Credit Agreement requires the Company to maintain two financial covenants, namely, a maximum consolidated leverage ratio and a minimum consolidated fixed charge coverage ratio. The Agreement also contains various covenants relating to limitations on indebtedness, limitations on investments and acquisitions, limitations on the sale of properties and limitations on liens and capital expenditures. The Agreement also contains other customary covenants, representations and events of defaults. The expiration date of the 2022 Credit Agreement, including the Term Facility and the Revolver Facility, is October 28, 2027. As of June 30, 2025, $213.8 million was outstanding under the 2022 Credit Agreement, $213.8 million on the Term Facility and zero on the Revolver Facility. On June 30, 2025, $2.7 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts resulting in $397.3 million in available borrowings. The Company is in compliance with the covenants under the Agreement as of June 30, 2025.
Management believes the 2022 Credit Agreement along with the Company’s ability to internally generate funds from operations should be sufficient to allow the Company to meet its cash requirements for the foreseeable future. However, future challenges affecting the banking industry and credit markets in general could potentially cause changes to credit availability, which creates a level of uncertainty.
As of June 30, 2025, we believe our financial position remains robust, supported by a strong balance sheet and healthy cash flow from operations. Our available liquidity, comprised of cash and cash equivalents, along with access to undrawn credit facilities, ensures that we are well equipped to meet our operating needs and explore strategic initiatives that could enhance shareholder value. We continuously evaluate our capital allocation strategy, including potentially repurchasing shares under the share repurchase program adopted by the Company and approved by the Board of Directors as announced on October 31, 2024 if it aligns with our strategic priorities and is deemed to be in the best interest of our shareholders. We believe that repurchasing our shares would be a prudent use of capital, provided appropriate market conditions exist.
Critical Accounting Estimates
Management’s Discussion and Analysis of Financial Condition and Results of Operations are based upon our Consolidated Financial Statements, which have been prepared in accordance with GAAP. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Critical Accounting Policies
An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that
reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the financial statements. Management believes that of the Company's significant accounting policies, which are set forth in Note 1 of the Notes to Consolidated Financial Statements in the 2024 Form 10-K, the policies relating to the business combinations involve a higher degree of judgment and complexity. There have been no material changes to the nature of estimates, assumptions and levels of subjectivity and judgment related to critical accounting estimates disclosed in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the 2024 Form 10-K.
Off-Balance Sheet Arrangements
There are no off-balance sheet arrangements that have or are likely to have a current or future material effect on our financial condition.
Forward-Looking Information
Part I of this Quarterly Report on Form 10-Q and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in Item 2 of this Quarterly Report contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In addition, forward-looking statements may be made orally or in press releases, conferences, reports or otherwise, in the future by or on behalf of the Company. Generally, forward-looking statements are not based on historical facts but instead represent the Company's and its management's belief regarding future events.
Statements that are not historical are forward-looking. When used by us or on our behalf, the words "expect,"
“will,” “estimate,” “believe,” “intend,” "would," “could,” "predict," “should,” “anticipate,” "continue," “project,” “forecast,”
“plan,” “may” and similar expressions generally identify forward-looking statements made by us or on our behalf.
Forward-looking statements involve risks and uncertainties. These uncertainties include factors that affect all
businesses operating in a global market, as well as matters specific to the Company and the markets we serve.
Certain particular risks and uncertainties that continually face us include the following:
•budget constraints and revenue shortfalls which could affect the purchases of our type of equipment by governmental customers and related contractors in both domestic and international markets;
•market acceptance of new and existing products;
•our ability to hire suitable employees for our business and maintain good relations with employees;
•our ability to develop and manufacture new and existing products profitably;
•the inability of our suppliers, creditors, public utility providers and financial and other service organizations to deliver or provide their products or services to us;
•legal actions and litigation;
•impairment in the carrying value of goodwill;
•our ability to successfully integrate acquisitions and operate acquired businesses or assets;
•current and changing tax laws in the U.S. and internationally;
•our ability to hire and retain quality skilled employees; and
•changes in the prices of agricultural commodities, which could affect our customers’ income levels.
In addition, we are subject to risks and uncertainties facing the industry in general, including the following:
•changes in business and political conditions and the economy in general in both domestic and international markets;
•uncertainty due to future direction of federal fiscal policy following national elections may slow the growth in governmental market revenue;
•the price and availability of energy and critical raw materials, particularly steel and steel products;
•increased competition;
•increases in input costs on items we use in the manufacturing of our products;
•adverse weather conditions such as droughts, floods, snowstorms, etc., which can affect the buying patterns of our customers and end-users;
•increased costs of complying with governmental regulations which affect corporations including related fines and penalties (such as the European General Data Protection Regulation (GDPR) and the California Consumer Privacy Act);
•an increase in unfunded pension plan liability due to financial market deterioration;
•the potential effects on the buying habits of our customers due to animal disease outbreaks and other epidemics;
•adverse market conditions and credit constraints which could affect our customers and end-users, such as cutbacks on dealer stocking levels;
•changes in market demand;
•climate related incidents and other sustainability risks, global pandemics, acts of war or aggression and terrorist activities or military actions;
•cyber security risks including the potential loss of proprietary data or data security breaches and related fines, penalties and other liabilities;
•financial market changes including changes in interest rates and fluctuations in foreign exchange rates;
•abnormal seasonal factors in our industry;
•changes in domestic and foreign governmental policies and laws, including increased levels of government regulation and changes in agricultural policies, including the amount of farm subsidies and farm payments as well as changes in trade policy that may have an adverse impact on our business;
•changes to global trade policies, tariffs, trade sanctions, and investment restrictions;
•government actions, including but not limited to budget levels, and changes in laws, regulations and legislation, relating to tax, environment, commerce, infrastructure spending, health and safety; and
•risk of governmental defaults and resulting impact on the global economy and particularly financial institutions.
The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not predictions of actual future results. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties
described above, as well as others not now anticipated. The foregoing statements are not exclusive and further information concerning us and our businesses, including factors that could potentially materially affect our financial results, may emerge from time to time. It is not possible for management to predict all risk factors or to assess the impact of such risk factors on the Company’s businesses. Any forward-looking statements made by or on behalf of the Company speak only to the date they are made and we do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the forward-looking statements were made.
Item 3. Quantitative and Qualitative Disclosures About Market Risks
The Company is exposed to various market risks. Market risks are the potential losses arising from adverse changes in market prices and rates. The Company does not enter into derivative or other financial instruments for trading or speculative purposes.
Foreign Currency Risk
International Sales
A portion of the Company’s operations consists of manufacturing and sales activities in international jurisdictions. The Company primarily manufactures its products in the U.S., U.K., France, Canada, Brazil, and the Netherlands. The Company sells its products primarily in the functional currency within the markets where the products are produced, but certain sales from the Company's U.K. and Canadian operations are denominated in other foreign currencies. As a result, the Company’s financials, specifically the value of its foreign assets, could be affected by factors such as changes in foreign currency exchange rates or weak economic conditions in the other markets in which the subsidiaries of the Company distribute their products.
Exposure to Exchange Rates
The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the balance sheet date. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in accumulated other comprehensive income within the statement of stockholders’ equity. The total foreign currency translation adjustment for the current quarter increased stockholders’ equity by $28.1 million.
The Company’s earnings are affected by fluctuations in the value of the U.S. dollar as compared to foreign currencies, predominately in Europe and Canada, as a result of the sales of its products in international markets.
Forward currency contracts are used to hedge against the earnings effects of such fluctuations. The result of a uniform 10% strengthening or 10% decrease in the value of the dollar relative to the currencies in which the Company’s sales are denominated would result in a change in gross profit of $6.4 million for the six month period ended June 30, 2025. A stronger U.S. dollar would unfavorably impact gross profit while a weaker U.S. dollar would provide a favorable impact to gross profit. This calculation assumes that each exchange rate would change in the same direction relative to the U.S. dollar. In addition to the direct effects of changes in exchange rates, which include a changed dollar value of the resulting sales, changes in exchange rates may also affect the volume of sales or the foreign currency sales price as competitors’ products become more or less attractive. The Company’s sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency prices.
Interest Rate Risk
The Company’s long-term debt bears interest at variable rates. Accordingly, the Company’s net income is affected by changes in interest rates. Assuming the current level of borrowings at variable rates and a two percentage point change for the second quarter 2025 average interest rate under these borrowings, the Company’s interest expense would have changed by approximately $1.1 million. To protect the Company's long-term debt from fluctuations in interest rates, the Company may enter into interest rate swaps to mitigate exposure. However, this analysis assumes no such actions. Further this analysis does not consider the effects of the change in the level of overall economic activity that could exist in such an environment.
Item 4. Controls and Procedures
Disclosure Controls and Procedures
An evaluation was carried out under the supervision and with the participation of Alamo’s management, including our President and Chief Executive Officer and Executive Vice President and Chief Financial Officer (Principal Financial Officer) of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based upon the evaluation, the President and Chief Executive Officer and Executive Vice President and Chief Financial Officer (Principal Financial Officer) concluded that the Company’s design and operation of these disclosure controls and procedures were effective at the end of the period covered by this report.
Changes in internal control over financial reporting
There has been no change in our internal control over financial reporting that occurred during our last fiscal year that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
For a description of legal proceedings, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024 (the "2024 10-K").
Item 1A. Risk Factors
There have not been any material changes from the risk factors previously disclosed in the 2024 Form 10-K for the year ended December 31, 2024.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During the quarter ended June 30, 2025, there were no repurchases of our common stock under our share repurchase program.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not Applicable
Item 5. Other Information
(a) Reports on Form 8-K
None.
(b) Other Information
None.
(c) During the period covered by this report, none of the Company’s directors or executive officers has or a Rule 10b5-1 trading arrangement or a non-Rule 10b5–1 trading arrangement (each as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended).
Item 6. Exhibits
(a) Exhibits | | | | | | | | | | | | | | |
| Exhibits | Exhibit Title | | Incorporated by Reference From the Following Documents |
| 10 | — | 2025 Incentive Stock Option Plan | | |
| 31.1 | — | | | Filed Herewith |
| 31.2 | — | | | Filed Herewith |
| 32.1 | — | | | Filed Herewith |
| 32.2 | — | | | Filed Herewith |
| 101.INS | — | XBRL Instance Document - the instance document does not appear in the Interactive Data Files because its XBRL tags are embedded within the Inline XBRL document | | Filed Herewith |
| 101.SCH | — | XBRL Taxonomy Extension Schema Document | | Filed Herewith |
| 101.CAL | — | XBRL Taxonomy Extension Calculation Linkbase Document | | Filed Herewith |
| 101.DEF | — | XBRL Taxonomy Extension Definition Linkbase Document | | Filed Herewith |
| 101.LAB | — | XBRL Taxonomy Extension Label Linkbase Document | | Filed Herewith |
| 101.PRE | — | XBRL Taxonomy Extension Presentation Linkbase Document | | Filed Herewith |
| 104 | — | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | | Filed Herewith |
Alamo Group Inc.
SIGNATURES
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 thereunto duly authorized.
| | | | | |
| August 6, 2025 | Alamo Group Inc. |
| (Registrant) |
| |
| /s/ Jeffery A. Leonard |
| Jeffery A. Leonard |
| President & Chief Executive Officer |
| (Principal Executive Officer) |
| | | | | |
| /s/ Agnieszka K. Kamps |
| Agnieszka K. Kamps |
| Executive Vice President & Chief Financial Officer |
| (Principal Financial Officer) |
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