Alamo Group, Inc. · NYSE:ALG
Alamo — Q3 2024 Earnings Presentation
20 slides from Alamo's earnings presentation, Nov 1, 2024
Slide 1: Investor Presentation: Third Quarter 2024 Results Summary
INVESTOR PRESENTATION THIRD QUARTER 2024 RESULTS SUMMARY OCTOBER 2024
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and related conference call contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and represent only the Company’s beliefs and expectations. Fo
Slide 3: Alamo Group at a Glance
ALAMO GROUP Publicly traded since 1993 AT A GLANCE (NYSE: ALG) Quarterly dividend paid continuously Alamo Group, the parent company of over 40 global brands, since going public operates through two divisions: Industrial Equipment and Vegetation Management. We specialize in manufacturing equipment th
Slide 4: Our Brand Solutions
Forestry, Tree Care, Recycling OUR BRAND Biomass Production Agricultural Land Maintenance SOLUTIONS Landscaping & Turf Maintenance Roadside Mowing, Hedge and Brush Control Metal Mill & Mine Maintenance Street and Parking Lot Sweeping Our customers count on us to provide high- and Leaf, Brush and Deb
Slide 5: Manufacturing Operations
MANUFACTURING OPERATIONS 16 Global Reach and Operational Scale With a portfolio of 40+ brands, the Group operates 28 manufacturing locations worldwide. This extensive network enables Alamo Group to deliver its equipment, parts, and services across six continents. The Group’s commitment to quality, G
Slide 6: Financial Highlights 3Q24
FINANCIAL HIGHLIGHTS 4.4% from 3Q24 $401.3M 3Q23 Net sales of $401.3 million decreased 4.4% compared to Net Sales $419.6 million in 3Q2023 ─ Industrial Equipment Division net sales of $211.2 million 1.9% from grew 22.3% ─ Vegetation Management Division net sales of $190.1 million declined 23.0% 10
Slide 7: Sales and Earnings Overview
SALES AND EARNINGS OVERVIEW Sales and Earnings (USD Millions) Sales by Division (USD Millions) $500 $50 $500 $400 $40 $400 $300 $30 $300 Earnings Sales $200 $20 $200 $100 $10 $100 $0 $0 $0 3Q22 3Q23 3Q24 3Q22 3Q23 3Q24 Net Sales Net Earnings Vegetation Industrial 7 Alamo Group Investor Presentation
Slide 8: Balance Sheet
BALANCE SHEET Quarter Ended September 30 (In USD Thousands) 2024 2023 2022 Current Assets 879,604 873,365 727,210 Total Assets 1,481,341 1,455,514 1,308,508 Current Liabilities 212,016 219,329 190,506 Working Capital 667,588 654,036 536,704 Total Debt 224,166 323,900 301,952 Total Debt Net of Cash 8
Slide 9: Income Statement
INCOME STATEMENT Quarter Ended September 30 (In USD Thousands) 2024 2023 2022 Revenue 401,301 419,644 368,793 Gross Margin 100,887 114,143 92,365 % of Revenue 25.1% 27.2% 25.0% Operating Expenses 60,808 64,390 56,525 Operating Income 40,079 49,753 35,840 % of Revenue 10.0% 11.9% 9.7% Depreciation -
Slide 10: Our Commitment Driving Shareholder Value
OUR COMMITMENT Targeted Long-Term DRIVING SHAREHOLDER VALUE Performance Metrics 5-10% Alamo Group is well positioned to capitalize on its strong order backlog and sustained demand across most of its served markets to maintain its historic track record of long-term growth and total shareholder return
Slide 11: Outlook
Outlook 2024 Continued optimism in the strength of governmental markets, modestly tempered by the fact National elections are imminent in the U.S., and future direction of Federal fiscal policy is uncertain No expectation for significant improvement in the agricultural equipment market until lat
Slide 12: Corporate Office
Corporate Office Additional details about Alamo Group’s financial news and reports can be located on our website 1627 East Walnut St. in the following documents: Seguin, Texas 78155 Info@alamo-group.com Earning Release can be found at alamo- (830) 379-1480 group.com > Investors > Financial News Rele
Slide 13: Appendix
Appendix 13 Alamo Group Investor Presentation
Slide 14: Reconciliations: EBITDA
Reconciliations EBITDA Three Months Ended September 30 (In USD Thousands) 2024 2023 2022 Operating Income 40,079 49,753 35,840 Depreciation - PP&E 6,748 5,934 5,659 Depreciation - Rental 2,443 2,211 1,900 Amortization 4,237 4,002 3,968 EBITDA (1) 53,507 61,900 47,367 (1) We define EBITDA as the tota
Slide 15: Reconciliations: Impact of Non-recurring Items
Reconciliations Impact of Non-recurring Items Three Months Ended September 30 (In USD Thousands) 2024 2023 2022 Operating Income – GAAP 40,079 49,753 35,840 (add: workforce reduction) 1,607 – – Adjusted Operating Income – non-GAAP 41,686 49,753 35,840 Net Income – GAAP 27,405 34,915 25,821 (add: wor
Slide 16: Year-to-Date Results
Year-to-Date Results 16 Alamo Group Investor Presentation
Slide 17: Balance Sheet
BALANCE SHEET Three Months Ended September 30 Nine Months Ended September 30 (In USD Thousands) 2024 2023 2022 2024 2023 2022 Current Assets 879,604 873,365 727,210 879,604 873,365 727,210 Total Assets 1,481,341 1,455,514 1,308,508 1,481,341 1,455,514 1,308,508 Current Liabilities 212,016 219,329 19
Slide 18: Income Statement
INCOME STATEMENT Three Months Ended September 30 Nine Months Ended September 30 (In USD Thousands) 2024 2023 2022 2024 2023 2022 Revenue 401,301 419,644 368,793 1,243,190 1,272,109 1,127,012 Gross Margin 100,887 114,143 92,365 320,700 344,724 278,723 % of Revenue 25.1% 27.2% 25.0% 25.8% 27.1% 24.7%
Slide 19: Reconciliations: EBITDA
Reconciliations EBITDA Three Months Ended September 30 Nine Months Ended September 30 (In USD Thousands) 2024 2023 2022 2024 2023 2022 Operating Income 40,079 49,753 35,840 130,367 153,169 105,875 Depreciation - PP&E 6,748 5,934 5,659 20,027 17,204 16,307 Depreciation - Rental 2,443 2,211 1,900 7,25
Slide 20: Reconciliations: Impact of Non-recurring Items
Reconciliations Impact of Non-recurring Items Three Months Ended September 30 Nine Months Ended September 30 (In USD Thousands) 2024 2023 2024 2023 Operating Income – GAAP 40,079 49,753 130,367 153,169 (add: workforce reduction) 1,607 – 3,226 – Adjusted Operating Income – non-GAAP 41,686 49,753 133,