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For Immediate ReleaseChicago, IL – August 5, 2026 – Today, Zacks Equity Deere & Company (DE - Free Report) , Kubota (KUBTY - Free Report) , CNH Industrial (CNH - Free Report) , AGCO Corp. (AGCO - Free Report) and Alamo Group (ALG - Free Report)

Industry: Farm Equipment

Link: https://www.zacks.com/commentary/2967133/5-farm-equipment-stocks-to-watch-as-industry-shows-promise

The Zacks Manufacturing - Farm Equipment industry is set to benefit from increased agricultural equipment demand to meet the food requirements of a growing population. Deere & Company, Kubota, CNH Industrial, AGCO Corp. and Alamo Group are well-positioned to capitalize on these opportunities through expanded product portfolios and technological advancements.

Farmers are increasingly adopting automation, precision agriculture and digital solutions to improve productivity, optimize costs and maximize returns, prompting these companies to accelerate investments in smart farming technologies.

About the IndustryThe Zacks Manufacturing - Farm Equipment industry comprises companies that manufacture agricultural equipment. These equipment include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers, and mowers. 

Some companies in the industry produce turf and utility equipment, consisting of riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, commercial mowing equipment, and garden tillers and snow throwers. Some participants manufacture irrigation equipment. Deere, Kubota and CNH Industrial are presently the top three global manufacturers of agricultural equipment (in that order).

Trends Shaping the Future of the Manufacturing - Farm Equipment IndustryFarm Pressures Weigh on Demand, Future Growth Intact: The farm equipment industry continues to face challenging demand conditions as farmers navigate lower commodity prices, elevated input costs and uncertainty surrounding global trade policies. The U.S. Department of Agriculture (USDA) forecasts a slight 0.7% year-over-year dip in net farm income to $153.4 billion for 2026. Total crop receipts are forecast to inch up 1.2% on higher receipts for corn and hay, offset by declines in wheat and rice receipts. 

Direct government farm payments are expected to increase sharply to $44.3 billion, up $13.8 billion from 2025, driven by higher commodity-related payments and supplemental disaster assistance for farmers and ranchers. However, production expenses are expected to rise 1% to $477.7 billion in 2026. Lower farm profitability could pressure farmers’ purchasing power and lead to delayed equipment purchases, creating near-term headwinds for manufacturers. 

However, long-term demand prospects remain supported by rising global food consumption, population growth and increasing farm sizes. Labor shortages and rising wage costs are also encouraging farmers to adopt mechanization and invest in equipment that improves productivity and operational efficiency.

Pricing, Cost-Cutting Actions to Boost Margins: Farm equipment manufacturers continue to face margin pressures from elevated labor, freight, fuel and raw material costs, along with ongoing supply-chain challenges. Changes in U.S. trade policies and retaliatory measures from other countries have increased costs for imported components and created additional uncertainty across the agriculture and construction equipment markets. 

Geopolitical developments, including disruptions related to the Iran conflict, have further strained supply chains and added to cost inflation. To counter these pressures, industry participants are implementing pricing strategies, optimizing sourcing networks, improving manufacturing efficiency and pursuing cost-reduction initiatives. These actions, along with better supply-chain management and operational discipline, are expected to support profitability despite a challenging cost environment.

Technologically Advanced Machinery Continues to Gain Popularity: Manufacturers are investing in technologically advanced machinery equipped with connectivity, autonomous capabilities and data-driven tools to address evolving customer needs. Precision agriculture solutions enable farmers to optimize input usage, improve yields and enhance sustainability while lowering overall costs. As labor availability remains a challenge and the need for higher agricultural productivity increases, demand for smart farming technologies and automated equipment is expected to remain a key growth driver for the industry.

Zacks Industry Rank Indicates Bright ProspectsThe Zacks Manufacturing - Farm Equipment industry is part of the broader Zacks Industrial Products sector. The industry currently carries a Zacks Industry Rank #33, which places it in the top 13% of 245 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bright prospects for the near term. Our research shows that the top 50% of the Zacks-ranked industries outperforms the bottom 50% by a factor of more than 2 to 1.

Before we present a few stocks that you may want to consider for your portfolio, let us take a look at the industry’s recent stock market performance and valuation.

Industry Underperforms Sector and S&P 500The Zacks Manufacturing - Farm Equipment industry has underperformed its sector and the Zacks S&P 500 composite over the past 12 months. Stocks in this industry have gained 10.9% in the past 12 months compared with the S&P 500’s growth of 21.1%. The Industrial Products sector has gained 17.4% in the said time frame.

Industry's Current ValuationOn the basis of the trailing EV/EBITDA ratio, which is a commonly used multiple for valuing farm equipment stocks, we see that the industry is currently trading at 25.68X compared with the S&P 500’s 17.28X. The Industrial Products sector’s trailing 12-month EV/EBITDA is 20.20X.

Over the last five years, the industry traded as high as 32.81X and as low as 14.16X, the median being 20.02X.

5 Manufacturing - Farm Equipment Stocks to Keep an Eye OnKubota: The company recently reported an 18% increase in revenues for the Farm & Industrial Machinery segment for the six-month period ended June 30, 2026. Domestic revenues rose 13%, driven by higher farm equipment and engine sales, while overseas revenues increased 19%. North America's construction equipment market remained strong on infrastructure spending and private construction demand, though residential tractor demand softened. 

India continued to deliver solid growth on supportive government policies and favorable farm conditions, while Thailand remained weak. Management expects segment revenues to grow in 2026, supported by robust North American construction equipment demand, recovery in Europe and Thailand, and continued strength in India. Disciplined fixed-cost management and profitability improvement measures are expected to support profitability.  Agricultural machine automation is one of the key pillars of these initiatives. The company is expanding its product lineup, adding a variety of attachments to meet customer needs. 

The Zacks Consensus Estimate for Osaka, Japan-based Kubota’s earnings for fiscal 2026 has moved up 15% over the past 60 days and is pegged at $5.64. The estimate suggests year-over-year growth of 3.1%. The company has a trailing four-quarter earnings surprise of 22.2%, on average. It has an estimated long-term earnings growth rate of 7.5% and currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Alamo: Supported by robust operating cash flows and solid liquidity, the company has been steadily investing in organic growth initiatives and strategic acquisitions. Its acquisition strategy focuses on profitable businesses with innovative, market-leading product portfolios that serve stable and steadily growing end markets. In line with this approach, it acquired Petersen Industries, a manufacturer of specialized truck-mounted grapple loader equipment for municipal and industrial customers in January 2026. 

The Industrial Equipment Division delivered a strong quarter, with sales growth and solid profitability, including a meaningful contribution from Petersen. Vegetation Management’s sales were relatively stable compared with the prior year despite pressure in certain end markets. ALG continues to focus on improving margins through operational execution, cost discipline and targeted actions across the portfolio. Also, the company recently renewed its credit facility on improved terms across the facility, further strengthening its liquidity profile and financial flexibility. 

The Zacks Consensus Estimate for the Seguin, TX-based company’s fiscal 2026 earnings has moved up 0.4% in 60 days and implies year-over-year growth of 13.7%. ALG currently carries a Zacks Rank #2 (Buy) and has a long-term estimated earnings growth rate of 16%.

Deere: The company will continue to benefit from its strong focus on launching technologically advanced products and feature-rich solutions that strengthen its competitive positioning. Expansion in precision agriculture remains a key growth catalyst, while replacement demand driven by the need to upgrade aging equipment should continue to support revenues. Deere’s exposure to the construction equipment market also positions it well to benefit from infrastructure spending, healthy rental activity and robust demand from projects such as data centers. 

Optimizing its cost structure through efficiency initiatives and footprint adjustments, while leveraging pricing actions and its Smart Industrial strategy to offset input cost pressures over time, is also a smart move. Deere acquired construction technology company Tenna, adding mixed-fleet operations and asset tracking capabilities that can integrate with its broader digital ecosystem. The company’s earlier purchase of intellectual property for tree planting equipment from Risutec also supports its precision forestry portfolio and aligns with longer-term sustainability and automation priorities.

The Zacks Consensus Estimate for the Moline, IL-based company’s fiscal 2026 earnings has moved up 0.3% over the past 60 days and is pegged at $18.26. DE has a trailing four-quarter earnings surprise of 10.21%, on average. The company currently has an estimated long-term earnings growth rate of 12.97% and carries a Zacks Rank #3 (Hold).

CNH Industrial: The company delivered year-over-year revenue growth in the second quarter of 2026 while advancing its strategic priorities, including quality, sourcing, operational efficiency and dealer network consolidation. Although farmer economics remain under pressure, the company highlighted encouraging equipment-cycle trends, such as normalized dealer inventories, aging fleet and a healthier balance between new and used equipment pricing. 

CNH continues to support its dealers and customers while investing in equipment and technology to strengthen its competitive position through the next cycle. It is expanding its Precision Technology portfolio through investments in automation, autonomy, digital tools, alternative fuels and electrification. 

The company is also enhancing its FieldOps platform and integrating Raven technology into newer machines for seamless connectivity. New product launches, feature upgrades and portfolio enhancements, along with ongoing operational efficiency initiatives, are expected to aid growth.

The Zacks Consensus Estimate for CNH Industrial’s fiscal 2026 earnings has remained unchanged over the past 60 days at 41 cents per share.  CNH has a trailing four-quarter earnings surprise of around 10%, on average. The Basildon, UK-based company currently has an estimated long-term earnings growth rate of 12.6% and carries a Zacks Rank of 3.

AGCO: Amid mixed market conditions, AGCO is aligning production with retail demand, managing dealer inventories and maintaining strict cost and working capital discipline. At the same time, it is focused on expanding market share in key regions, particularly in North America's high-horsepower segment, advancing precision agriculture and improving operational quality and efficiency. 

The company is also investing in fuel-saving technologies that help reduce farmers' operating costs without compromising performance, reliability or uptime. Independent DLG PowerMix testing has validated these efficiency gains across AGCO's Fendt, Massey Ferguson and Valtra brands, supported by AGCO Power's advanced engine and powertrain solutions.

AGCO has an estimated long-term earnings growth rate of 21.7%. The consensus estimate for AGCO’s 2026 earnings has moved up 4% in the past 60 days. The estimate suggests year-over-year growth of 17.4%. It has a trailing four-quarter earnings surprise of 32.7%, on average. This Duluth, GA-based company currently carries a Zacks Rank of 3.

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance  for information about the performance numbers displayed in this press release.

3 Mining Stocks Poised to Ride the Precious Metals BoomAlamo Group NYSE: ALG reported second-quarter 2026 net sales of $415.7 million, up 7.6% from a year earlier, as acquisitions and modest organic growth supported results. Organic net sales rose 1.3%, while adjusted diluted earnings per share increased 7.2% to $2.82.

President and Chief Executive Officer Robert Hureau said the company was pleased with the quarter’s performance, citing strong sales, improved adjusted earnings and solid adjusted EBITDA. He said customer activity remained encouraging in terms of volume, pace and quality, while management continued to focus on operational improvements and strategic execution.

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Margins and Earnings Is 2024 the year of the dividend increase?Gross profit was $110.9 million, compared with $108.3 million in the prior-year quarter. Gross margin declined 120 basis points to 24.6%, reflecting sales mix and investments intended to support long-term growth. Favorable pricing, procurement savings and operating discipline partly offset those pressures.

Selling, general and administrative expense increased 5.1% to $60.1 million, including costs associated with acquisitions, integration activities, restructuring, and the additions of Petersen and Ring-O-Matic. However, SG&A declined as a percentage of sales to 13.3% from 13.6%. Excluding acquisition, integration and restructuring expenses, SG&A was approximately 12.5% of sales, compared with approximately 13.5% a year earlier.

3 Reasons Oshkosh Stock is Headed to New HeightsChief Financial Officer Agnes Kamps said the company is pursuing productivity initiatives, including early applications of artificial intelligence, with the aim of managing SG&A as a percentage of revenue over time.

Adjusted EBITDA rose to $63.9 million, or 14.2% of net sales, from $58.8 million, or 14.0% of sales, in the second quarter of 2025. The company recorded $4.3 million of acquisition, integration and restructuring expenses during the quarter, including expenses related to manufacturing and supply-chain transformation, leadership changes, and facility consolidation and streamlining.

Industrial Equipment Gains, Vegetation Stabilizes The Industrial Equipment Division reported second-quarter net sales of $271.6 million, up 12.8% year over year. Organic sales increased 2.6%, with the remainder of the growth reflecting contributions from Petersen, acquired earlier in 2026, and Ring-O-Matic, acquired in 2025. Adjusted EBITDA was $45.3 million, or 16.7% of divisional sales, nearly level with the 16.8% margin reported a year earlier.

Hureau said excavator and vacuum truck sales increased despite relatively flat end markets, driven by brand strength, dealer and customer relationships, and market-share gains. The rental business was on pace for a record year in both sales and adjusted EBITDA, while Ring-O-Matic also delivered record results, he said.

Industrial Equipment orders declined 2% from a year earlier, producing a book-to-bill ratio of 0.85x. Orders were strongest in snow equipment and increased in sweepers and safety products, including on an organic basis for the latter category. Excavator and vacuum truck orders declined, which management attributed in part to order timing and a difficult comparison with a record order quarter in 2025.

The Vegetation Management Division posted net sales of $179.1 million, up 0.4% from the prior year. It was the division’s second consecutive quarter of year-over-year growth following eight quarters of declines. Adjusted EBITDA was $18.6 million, or 10.4% of sales, compared with $18.5 million and the same margin a year ago.

Growth in North American agriculture, tree care and recycling, and European businesses offset lower sales in municipal mowing and South America. Hureau said improved manufacturing execution supported U.S. agriculture, tree care and recycling sales, while Europe benefited from strength in the Netherlands and France.

Vegetation Management’s book-to-bill ratio was 0.9x, with net orders down 1% year over year. Municipal mowing orders increased at a double-digit rate as state and local customers moved into new budget years, management said. Tree care and recycling orders also grew, aided by dealer-network expansion, while North American agriculture orders were roughly flat and backlog remained healthy.

Outlook, Operational Initiatives and Portfolio Review Management characterized industrial end markets as stable but selective, with growth moderating after several years of infrastructure-related expansion. Hureau said Alamo expects industrial end markets to be “flattish” in the second half of 2026, though the company remains positive about longer-term demand tied to infrastructure maintenance, public works, utilities and specialized vocational equipment.

For vegetation markets, management remains cautious. Hureau said the company sees end markets as ranging from flat to down mid-single digits for the balance of 2026, citing lower farm income, elevated borrowing costs, tariff-related uncertainty and continued weakness in some tractor-sales data. He said the company does not expect a rapid recovery across the entire vegetation portfolio.

Alamo said its aggregate backlog represented roughly four to five months of revenue, a level management described as consistent with historical patterns outside the elevated demand period of 2023 and 2024. Lead times were considered competitive, according to Hureau.

The company reiterated long-term targets of 15% adjusted operating income margins and 18% adjusted EBITDA margins. Hureau said management sees roughly 300 basis points of improvement that it believes is within its control, supported by procurement savings, aftermarket parts and service initiatives, manufacturing efficiency efforts, and portfolio actions. Procurement savings are expected to begin contributing toward the end of 2026, with a larger impact expected in 2027 as projects advance and inventory turns over.

As part of a portfolio review, Alamo plans to exit a small Netherlands business serving the waterway vegetation-management market through either a sale or closure before year-end. Management said it expects to make additional portfolio decisions in the second half, although the businesses and product lines involved are not large in the context of the company.

Cash Flow and Capital Allocation For the first six months of 2026, Alamo generated $22.7 million of operating cash flow and reported investing cash outflows of $171.6 million, primarily related to the Petersen acquisition and capital expenditures. Over the trailing 12 months ended June 30, free cash flow totaled $135.3 million, equal to 134% of net income.

In May, the company renewed its credit facility, extending maturity to 2031. The facility provides $602.5 million of committed capacity, including a $400 million revolver and a $202.5 million term loan facility. At quarter-end, Alamo had $195 million in cash, total debt of $262.7 million and net leverage below one times.

During the quarter, the company paid $4.1 million in dividends, repurchased $9.4 million in shares under its $50 million authorization, and repaid $25.9 million on the revolver used to finance the Petersen acquisition. The board again approved a quarterly dividend of $0.34 per share.

Hureau said acquisitions remain a top priority, with a focus largely on tuck-in opportunities close to the company’s core markets, channels and geographies. Management said transactions in the range of roughly $15 million to $30 million of EBITDA are the principal target, although larger deals could be considered if they offer a strong strategic fit and meaningful synergies.

About Alamo Group (NYSE:ALG)Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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, /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter of 2026.

Highlights: 

Net sales were $450.7 million, up 7.6% compared to the second quarter of 2025 Net income was $30.9 million and adjusted net income was $34.2 million Fully diluted EPS was $2.55 per share, nearly flat compared to $2.57 per share in the second quarter of 2025 Adjusted fully diluted EPS was $2.82 per share, an increase of 7.2% compared to $2.63 per share in the second quarter of 2025 Adjusted EBITDA of $63.9 million was 14.2% of net sales, up 8.7% compared to the second quarter of 2025 Net sales in the Industrial Equipment Division were $271.6 million, up 12.8% compared to the second quarter of 2025 Net sales in the Vegetation Management Division were $179.1 million, up 0.4% compared to the second quarter of 2025 The Company renewed its credit facility in May 2026 with improved terms and preserved $602.5 million of committed capacity, including a $400.0 million revolver and $202.5 million term loan facility On June 30, 2026, cash was $195.0 million and total debt was $262.7 million  Returned $19.0 million to stockholders in the first six months of 2026, including $10.8 million of share repurchases and $8.2 million of dividends Robert Hureau, Alamo Group's President and Chief Executive Officer, commented, "Our second quarter results reflect continued execution across the business, highlighted by strong sales growth in our Industrial Equipment Division, improved adjusted earnings, and solid adjusted EBITDA performance. Conditions across our end markets remain mixed, and our teams continue to focus on operational improvement, and disciplined execution of our strategic priorities."

Second Quarter Results

Net sales for the second quarter of 2026 were $450.7 million, an increase of 7.6% compared to $419.1 million for the second quarter of 2025. Net income for the second quarter of 2026 was $30.9 million, or $2.55 per fully diluted share compared to $31.1 million, or $2.57 per fully diluted share for the second quarter of 2025.

The Company also reported adjusted net income of $34.2 million, or $2.82 per fully diluted share, for the second quarter of 2026 compared to adjusted net income of $31.9 million, or $2.63 per fully diluted share for the second quarter of 2025. Adjusted EBITDA for the second quarter of 2026 was $63.9 million, or 14.2% of net sales, compared to $58.8 million, or 14.0% of net sales, for the second quarter of 2025.

Net sales in the Industrial Equipment Division were $271.6 million, an increase of 12.8% compared to $240.7 million for the second quarter of 2025. The year-over-year increase in Industrial Equipment Division sales reflected organic demand and the contribution from Petersen. Adjusted EBITDA in the Industrial Equipment Division for the second quarter of 2026 was $45.3 million, or 16.7% of net sales, compared to $40.3 million, or 16.8% of net sales, in the second quarter of 2025.

Net sales in the Vegetation Management Division were $179.1 million, an increase of 0.4% compared to $178.4 million in the second quarter of 2025. Adjusted EBITDA in the Vegetation Management Division for the second quarter of 2026 was $18.6 million, or 10.4% of net sales, compared to $18.5 million, or 10.4% of net sales, in the second quarter of 2025.

Robert Hureau, Alamo Group's President and Chief Executive Officer, commented, "Our Industrial Equipment Division delivered a strong quarter, with sales growth and solid profitability, including a meaningful contribution from Petersen following its acquisition earlier this year. In the Vegetation Management Division, sales were relatively stable compared to the prior year despite pressure in certain end markets. We are continuing to focus on improving margins through operational execution, cost discipline and targeted actions across the portfolio."

For the six months ended June 30, 2026, cash flow provided by operations was $22.7 million, investing cash outflow was $171.6 million, and financing cash inflow was $37.3 million.

In May 2026, the Company renewed its credit facility on improved terms across the facility, further strengthening its liquidity profile and financial flexibility. The successful renewal provides $602.5 million of committed capacity, including a $400.0 million revolving credit facility and a $202.5 million term loan facility, supporting ongoing capital deployment priorities, working capital needs and long-term growth initiatives. During the first six months of 2026, the Company funded the acquisition of Petersen, repurchased $10.8 million of its common stock and paid $8.2 million of dividends while maintaining a strong balance sheet. At June 30, 2026, cash was $195.0 million and total debt was $262.7 million.

Mr. Hureau added, "We ended the quarter with a strong liquidity position, supported by substantial cash balances and available borrowing capacity under our recently renewed credit facility. That flexibility allowed us to invest in organic growth, fund the Petersen acquisition and repurchase shares opportunistically during the first half of the year.  We remain committed to a balanced capital allocation approach that prioritizes investment in organic growth and strategic acquisitions while returning capital to shareholders. We look forward to discussing our results and outlook in greater detail during our upcoming Earnings Conference Call."

Earnings Conference Call

The Company will host a conference call to discuss the results on Tuesday, August 4, 2026, at 10:00 a.m. ET.  Hosting the call will be members of senior management. Individuals wishing to participate in the conference call should dial 1-833-816-1163 (domestic) or 1-412-317-1898 (international). For interested individuals unable to join the call, a replay will be available until Tuesday, August 11, 2026, by dialing 1-855-669-9658 (domestic) or 1-412-317-0088 (international), passcode 7509167.

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 Tuesday, August 4, 2026, beginning at 10:00 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 manufacture and sale of high-quality, purpose-built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities. Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) as well as related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,800 employees and operates 27 manufacturing facilities in the United States, Canada, Europe, Brazil and Australia. 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 outbreaks, geopolitical risks, including tariffs, trade disputes, and the effects of the wars in 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)

Alamo Group Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)

Three Months Ended

Six Months Ended

6/30/2026

6/30/2025

6/30/2026

6/30/2025

Net sales:

  Vegetation Management

$     179,092

$     178,358

$  354,512

$  342,248

  Industrial Equipment

271,641

240,715

513,370

467,775

Total net sales

450,733

419,073

867,882

810,023

Cost of sales

339,877

310,781

652,221

598,890

Gross profit

110,856

108,292

215,661

211,133

Selling, general and administration expense

60,076

57,136

117,843

111,466

Amortization expense

5,015

4,078

9,894

8,127

Income from operations

45,765

47,078

87,924

91,540

Interest expense

(4,792)

(3,684)

(9,416)

(6,878)

Interest income

1,239

1,195

2,720

2,433

Other income (expense)

(619)

(3,183)

(587)

(3,846)

Income before income taxes

41,593

41,406

80,641

83,249

Provision for income taxes

10,653

10,300

20,517

20,343

Effective Tax Rate

25.6 %

24.9 %

25.4 %

24.4 %

Net Income

$      30,940

$      31,106

$    60,124

$    62,906

Net income per common share:

Basic

$         2.57

$         2.59

$       4.99

$       5.24

Diluted

$         2.55

$         2.57

$       4.96

$       5.21

Average common shares:

Basic

12,068

12,020

12,060

12,005

Diluted

12,122

12,083

12,112

12,066

Alamo Group Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited) 

June 30,
2026

June 30,
2025

ASSETS

Current assets:

Cash and cash equivalents

$ 194,995

$  201,823

Accounts receivable, net

343,326

356,236

Inventories

432,262

372,074

Other current assets

22,114

12,461

Total current assets

992,697

942,594

Rental equipment, net

56,033

59,606

Property, plant and equipment, net

161,165

160,716

Goodwill

271,318

221,607

Intangible assets, net

212,999

145,040

Other non-current assets

29,390

28,086

Total assets

$            1,723,602

$            1,557,649

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade accounts payable

$ 148,039

$  111,820

Income taxes payable

3,685

3,973

Accrued liabilities

69,307

76,113

Current maturities of long-term debt

5,063

15,000

Total current liabilities

226,094

206,906

Long-term debt, net of current maturities

257,679

198,115

Long-term tax liability

470

626

Other long-term liabilities

24,127

25,975

Deferred income taxes

27,122

10,631

Total liabilities

535,492

442,253

Total stockholders' equity

1,188,110

1,115,396

Total liabilities and stockholders' equity

$            1,723,602

$            1,557,649

Alamo Group Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)

Six Months Ended 

June 30,

2026

2025

Operating Activities

Net income

$   60,124

$   62,906

Adjustment to reconcile net income to net cash provided by operating activities:

Provision for doubtful accounts

(230)

(11)

Depreciation - Property, plant and equipment

13,240

13,398

Depreciation - Rental equipment

5,927

5,819

Amortization of intangibles

9,894

8,127

Amortization of debt issuance

343

351

Stock-based compensation expense

3,613

4,670

Provision for deferred income tax expense (benefit)

3,195

(2,179)

Gain on sale of property, plant and equipment

(682)

(358)

Changes in operating assets and liabilities:

Accounts receivable

(62,851)

(37,267)

Inventories

(31,313)

(16,593)

Rental equipment

(958)

(12,263)

Prepaid expenses and other assets

814

1,923

Trade accounts payable and accrued liabilities

14,453

18,494

Income taxes payable

9,427

(9,439)

Other long-term liabilities, net

(2,339)

(667)

Net cash provided by operating activities

22,657

36,911

Investing Activities

Acquisitions, net of cash acquired

(162,933)

(17,571)

Purchase of property, plant and equipment

(10,319)

(12,971)

Proceeds from sale of property, plant and equipment

1,621

812

Net cash used in investing activities

(171,631)

(29,730)

Financing Activities

Borrowings on bank revolving credit facility

120,000

50,000

Repayments on bank revolving credit facility

(57,500)

(50,000)

Principal payments on long-term debt and finance leases

(5,016)

(7,504)

Debt issuance cost

(2,286)

—

Dividends paid

(8,201)

(7,196)

Proceeds from exercise of stock options

1,032

1,227

Common stock repurchased

(10,759)

(1,639)

Net cash provided by (used) in financing activities

37,270

(15,112)

Effect of exchange rate changes on cash and cash equivalents

(2,960)

12,480

Net change in cash and cash equivalents

(114,664)

4,549

Cash and cash equivalents at beginning of the year

309,659

197,274

Cash and cash equivalents at end of the period

$ 194,995

$ 201,823

Cash paid during the period for:

Interest

$    9,569

$    6,861

Income taxes

9,080

32,074

Alamo Group Inc.

Non-GAAP Financial Measures Reconciliation

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 non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income and Adjusted Fully Diluted EPS, and adjusts for certain items that the management believes are not indicative of underlying performance. Adjusted Operating Income accounts for these impacts on a pre-tax basis and Adjusted Net Income and Adjusted Fully Diluted EPS are calculated on an after-tax basis. Management believes isolating certain items from the core operating performance improves comparability across periods, and reflects how management plans and assesses the business.

Attachment 2 shows a reconciliation of Earnings Before Interest, Taxes, Depreciation, and Amortization  ("EBITDA") and Adjusted EBITDA.

Attachment 3 reflects Division performance inclusive of non-GAAP financial measures such as Backlog, Adjusted Operating Income, Earnings Before Interest, Tax, Depreciation and Amortization ("EBITDA") and Adjusted EBITDA.

Attachment 4 shows the net change in our total debt net of cash and discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division.

Attachment 1

Alamo Group Inc.
Non-GAAP Financial Reconciliation
(in thousands, except per share numbers)
(Unaudited)

Non-GAAP Financial Measures

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Operating Income

$  45,765

$  47,078

$  87,924

$  91,540

CEO Transition(1)

—

229

—

451

Acquisition and Integration Expenses(2)

357

235

915

235

Restructuring Expenses(3)

3,998

605

5,940

1,367

Adjusted Operating Income

$  50,120

$  48,147

$  94,779

$  93,593

  Adjusted Operating Income % net sales

11.1 %

11.5 %

10.9 %

11.6 %

Net Income

$  30,940

$  31,106

$  60,124

$  62,906

CEO Transition(1), net of tax benefit $56 and $110,
respectively

—

173

—

341

Acquisition and Integration Expenses(2), net of tax benefit
$91 and $57, $233 and $57, respectively

266

178

682

178

Restructuring Expenses(3), net of tax benefit $1,017 and
$148, $1,511 and $334, respectively

2,981

457

4,429

1,033

Adjusted Net Income

$  34,187

$  31,914

$  65,235

$  64,458

Fully Diluted EPS

$     2.55

$     2.57

$     4.96

$     5.21

CEO Transition(1)

—

0.01

—

0.03

       Acquisition and Integration Expenses(2)

0.02

0.01

0.06

0.01

       Restructuring Expenses(3)

0.25

0.04

0.37

0.09

              Adjusted Fully Diluted EPS

$     2.82

$     2.63

$     5.39

$     5.34

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals, integration and divestiture expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 2

Alamo Group Inc.
Non-GAAP Financial Reconciliation
(in thousands)
(Unaudited)

EBITDA

Three Months Ended

Six Months Ended

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Net Income

$       30,940

$       31,106

$       60,124

$       62,906

Interest, net

3,553

2,489

6,696

4,445

Provision for income taxes

10,653

10,300

20,517

20,343

Depreciation

9,416

9,772

19,167

19,217

Amortization

5,015

4,078

9,894

8,127

     EBITDA

$       59,577

$       57,745

$      116,398

$      115,038

     EBITDA % net sales

13.2 %

13.8 %

13.4 %

14.2 %

Adjustments:

CEO Transition(1)

$             —

$           229

$             —

$           451

Acquisition and Integration Expenses(2)

357

235

915

235

Restructuring Expenses(3)

3,998

605

5,940

1,367

     Adjusted EBITDA

$       63,932

$       58,814

$      123,253

$      117,091

     Adjusted EBITDA % net sales

14.2 %

14.0 %

14.2 %

14.5 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals, integration and divestiture expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 3

Alamo Group Inc.
Non-GAAP Financial Reconciliation
(in thousands)
(Unaudited)

Industrial Equipment Division Performance

Three Months Ended

June 30,

Six Months Ended 

June 30,

2026

2025

2026

2025

Backlog

$    365,286

$    509,610

Net Sales

$    271,641

$   240,715

513,370

467,775

Income from Operations

36,860

34,327

68,506

65,477

Income from Operations % net sales

13.6 %

14.3 %

13.3 %

14.0 %

Adjustments:

CEO Transition(1)

$          —

$        121

$          —

$         240

Acquisition and Integration Expenses(2)

221

125

621

125

Restructuring Expenses(3)

1,389

—

1,709

—

Adjusted Operating Income

$     38,470

$     34,573

$     70,836

$     65,842

Adjusted Operating Income % of sales

14.2 %

14.4 %

13.8 %

14.1 %

Depreciation

5,339

5,519

10,826

10,912

Amortization

2,031

1,132

3,954

2,261

Other income (expense)

(508)

(895)

(535)

(1,255)

EBITDA

$     43,722

$     40,083

$     82,751

$     77,395

EBITDA % net Sales

16.1 %

16.7 %

16.1 %

16.5 %

Adjustments:

CEO Transition(1)

$          —

$        121

$          —

$         240

 Acquisition and Integration Expenses(2)

221

125

621

125

Restructuring Expenses(3)

1,389

—

1,709

—

Adjusted EBITDA

$     45,332

$     40,329

$     85,081

$     77,760

Adjusted EBITDA % net sales

16.7 %

16.8 %

16.6 %

16.6 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals, integration and divestiture expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 3 (Continued)

Alamo Group Inc.
Non-GAAP Financial Reconciliation
(in thousands)
(Unaudited)

Vegetation Management Division Performance

Three Months Ended

June 30,

Six Months Ended 

June 30,

2026

2025

2026

2025

Backlog

$   184,031

$    177,625

Net Sales

$    179,092

$   178,358

354,512

342,248

Income from Operations

8,905

12,751

19,418

26,063

Income from Operations % net sales

5.0 %

7.1 %

5.5 %

7.6 %

Adjustments:

CEO Transition(1)

$           —

$        108

$          —

$         211

Acquisition and Integration Expenses(2)

136

110

294

110

Restructuring Expenses(3)

2,609

605

4,231

1,367

Adjusted Operating Income

$     11,650

$     13,574

$     23,943

$     27,751

Adjusted Operating Income % of sales

6.5 %

7.6 %

6.8 %

8.1 %

Depreciation

4,077

4,253

8,341

8,305

Amortization

2,984

2,946

5,940

5,866

Other income (expense)

(111)

(2,288)

(52)

(2,591)

EBITDA

$     15,855

$     17,662

$     33,647

$     37,643

EBITDA % net Sales

8.9 %

9.9 %

9.5 %

11.0 %

Adjustments:

CEO Transition(1)

$           —

$        108

$          —

$         211

Acquisition and Integration Expenses(2)

136

110

294

110

Restructuring Expenses(3)

2,609

605

4,231

1,367

Adjusted EBITDA

$     18,600

$     18,485

$     38,172

$     39,331

Adjusted EBITDA % net sales

10.4 %

10.4 %

10.8 %

11.5 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals, integration and divestiture expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 4

Alamo Group Inc.
Non-GAAP Financial Reconciliation
(in thousands)
(Unaudited)

Consolidated Net Change of Total Debt, Net of Cash

June 30, 2026

June 30, 2025

Net Change

Current maturities

$          5,063

$        15,000

Long-term debt, net of current

257,679

198,115

Total debt

$       262,742

$       213,115

Total cash

194,995

201,823

     Total Debt, Net of Cash

$        67,747

$        11,292

$       56,455

Impact of Currency Translation on Net Sales by Division

Three Months Ended

June 30,

Change due to currency
translation

2026

2025

% change
from 2025

$

%

Vegetation Management

$       179,092

$       178,358

0.4 %

$          1,345

0.8 %

Industrial Equipment

271,641

240,715

12.8 %

359

0.1 %

Total net sales

$       450,733

$       419,073

7.6 %

$          1,704

0.4 %

Six Months Ended 

June 30,

Change due to currency
translation

2026

2025

% change
from 2025

$

%

Vegetation Management

$       354,512

$       342,248

3.6 %

$          6,731

2.0 %

Industrial Equipment

513,370

467,775

9.7 %

3,735

0.8 %

Total net sales

$       867,882

$       810,023

7.1 %

$        10,466

1.3 %

SOURCE Alamo Group Inc.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One company value investors might notice is Alamo Group (ALG - Free Report) . ALG is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 16.83. This compares to its industry's average Forward P/E of 27.21. ALG's Forward P/E has been as high as 19.88 and as low as 13.85, with a median of 16.77, all within the past year.

Investors will also notice that ALG has a PEG ratio of 0.94. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ALG's PEG compares to its industry's average PEG of 2.07. Over the past 52 weeks, ALG's PEG has been as high as 1.10 and as low as 0.94, with a median of 1.02.

Value investors will likely look at more than just these metrics, but the above data helps show that Alamo Group is likely undervalued currently. And when considering the strength of its earnings outlook, ALG sticks out as one of the market's strongest value stocks.

, /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today announced that it will release financial results for the second quarter of 2026 after the market closes on Monday, August 3, 2026. The Company will host a conference call to discuss the results on Tuesday, August 4, 2026, at 10:00 a.m. ET.  Hosting the call will be members of senior management.

Individuals wishing to participate in the conference call should dial 1-833-816-1163 (domestic) or 1-412-317-1898 (international). For interested individuals unable to join the call, a replay will be available until Tuesday, August 11, 2026, by dialing 1-855-669-9658 (domestic) or 1-412-317-0088 (international), passcode 7509167.

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 Tuesday, August 4, 2026, beginning at 10:00 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 manufacture and sale of high-quality, purpose-built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities. Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) as well as related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,800 employees and operates 27 manufacturing facilities in North America, Canada, Europe, Brazil and Australia. 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 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.

SOURCE Alamo Group Inc.

Investors looking for stocks in the Manufacturing - Farm Equipment sector might want to consider either Alamo Group (ALG - Free Report) or Deere (DE - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Right now, Alamo Group is sporting a Zacks Rank of #2 (Buy), while Deere has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that ALG is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.

Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

ALG currently has a forward P/E ratio of 15.33, while DE has a forward P/E of 32.23. We also note that ALG has a PEG ratio of 0.96. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. DE currently has a PEG ratio of 2.16.

Another notable valuation metric for ALG is its P/B ratio of 1.69. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, DE has a P/B of 5.75.

These are just a few of the metrics contributing to ALG's Value grade of B and DE's Value grade of D.

ALG is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that ALG is likely the superior value option right now.

Shares of Alamo Group (ALG - Free Report) have gained 7.7% over the past four weeks to close the last trading session at $164.49, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $207.25 indicates a potential upside of 26%.

The average comprises four short-term price targets ranging from a low of $188.00 to a high of $225.00, with a standard deviation of $16.48. While the lowest estimate indicates an increase of 14.3% from the current price level, the most optimistic estimate points to a 36.8% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for ALG, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why ALG Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 0.4%, as one estimate has moved higher compared to no negative revision.

Moreover, ALG currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much ALG could gain, the direction of price movement it implies does appear to be a good guide.

Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF, FRA:8SR) earlier this week provided an update on exploration activities at its Alamo gold-copper project in Arizona, where recent sampling and geophysical work has identified promising new targets for follow-up exploration.

Speaking with Proactive, chief executive officer Mike Power said the company has continued to advance the historic Alamo property, which previously produced high-grade gold and copper from narrow vein systems associated with specular hematite.

Power explained that Silver Range's exploration strategy is focused on identifying areas where multiple mineralized veins may converge, potentially creating a larger and more attractive exploration target than the individual veins historically mined.

Recent fieldwork included an expansion of the soil sampling grid, additional geophysical coverage and prospecting. The program returned encouraging results, including soil samples grading up to 1.34 grams per tonne gold and rock samples grading up to 21.8 grams per tonne gold.

Power highlighted the significance of the soil anomalies, noting that finding gold values above one gram per tonne in soil samples is relatively uncommon in the region.

In addition to the sampling results, a very low frequency (VLF) geophysical survey identified several conductive zones that appear to be associated with known mineralization. According to Power, these conductors may help pinpoint bedrock sources and structural intersections that could represent priority exploration targets.

A key near-term catalyst for investors is the company's planned induced polarization (IP) survey at Alamo. The survey is expected to provide additional subsurface information that could help refine drill targeting and improve understanding of the property's mineralized systems.

Power also discussed Silver Range's long-standing partnership with Altus, describing the royalty company as a supportive partner in project generation activities across the southwestern United States. The newly announced royalty forms part of a broader collaboration between the two groups.

Beyond Alamo, investors can expect news flow from the company's East Goldfield project. Power indicated that drill results are expected shortly and that a large IP survey is about to commence. He also said recent geological mapping has improved the company's understanding of the project and could support future exploration targeting.

With multiple exploration programs underway and several potential catalysts approaching, including geophysical surveys and drill results, Silver Range appears positioned for an active period of news flow across its portfolio.

Alamo Group (ALG) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

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Pre-Market Stock Futures: The futures are trading higher as we start the new trading week. There is an old saying, “Fool me once, shame on you; fool me twice, shame on me.” Well, the buy-the-dip crowd continued to get a masterclass in just that lesson on Friday. Once again, the stock market opened higher, and high-beta stocks took off, only to end the day and the week down hard for the third consecutive week, as all of the early gains were surrendered by early Friday afternoon. By the close, all of the major indices ended lower. Once again, the tech-heavy Nasdaq led the way down, closing the day at 22,105, down 0.93%, while the small-cap Russell 2000 came in second, down 0.57% to finish the session at 2,474. The S&P 500 closed Friday at 6,632, down 0.61%, and the Dow Jones Industrials came away with the least damage, finishing the week at 46,558, down 0.26%.

Treasury Bonds: Yields were mixed across the Treasury curve after days of across-the-board selling. While there was some selling on the long end, most of the short and the belly of the curve saw some significant buying as yields had jumped higher recently. The 30-year-long bond closed the day at 4.91%, while the 10-year benchmark note was last seen at 4.29%.

Oil and Gas: The song remains the same for the energy complex, as once again, spot pricing ended the day higher on Friday. The broken-record reasons stayed in place as the war in Iran entered its fourth week, and for now, unless there is a breakthrough in negotiations or the U.S. Navy can protect the oil tankers in the Strait of Hormuz, prices could continue to rise. While the IEA and the U.S. are going to tap strategic reserves, that will help, but it won’t happen fast. Brent Crude closed Friday at $103, up 2.57%, while West Texas Intermediate was last seen at $98.53, up 2.92%. Natural gas finished the day at $3.14, down 2.94%.

Gold: Gold continues to consolidate around the $5,000 level, having been range-bound for the last month after the heavy sell-off in February. Fortunately for investors, this consolidation could pave the way for substantially higher levels for the rest of 2026. Respected market veteran strategist Ed Yardeni still sees the potential for Gold to hit $10,000 later in the decade, while JPMorgan also sees higher prices ahead. The last print for Gold on Friday came in at $5,019, down 1.29%, while Silver closed at $80.45, down close to 4%. 

Crypto: The cryptocurrency markets rallied early on Friday with Bitcoin surpassing $73,000 for the first time in over a week, fueled by renewed spot ETF inflows and investor bets on government stimulus. However, like stocks, all of the top crypto names faded in the afternoon.  Major altcoins like Solana and Dogecoin outperformed, rising over 4.5%, while crypto-linked stocks also participated in the rally. At 8 AM EDT, Bitcoin traded at $73,570, while Ethereum was quoted at $2,266. 

24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. 

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Monday, March 16, 2026.  

Upgrades: Circle Internet Group Inc. (NYSE: CRCL | CRCL Price Prediction) was upgraded to Buy from Hold at Clear Street, which lifted the target price for the shares to $136 from $92. Intuit Inc. (NASDAQ: INTU) was upgraded to Neutral from Underperform at BNP Paribas, with a $463 target price. Rocket Companies Inc. (NYSE: RKT) was raised to Outperform from Neutral at Keefe Bruyette, which nudged the target price for the mortgage giant to $22 from $20. ServiceNow Inc. (NYSE: NOW) was raised to Outperform from Neutral at BNP Paribas, which has set a $140 target price for the shares. Trade Desk Inc. (NASDAQ: TTD) was upgraded to Neutral from Sell at Arete, which has a $25 target price. Downgrades: Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) was downgraded to Hold from Buy at Jefferies, which slashed the target price for the stock to $330 from $522. Immunocore Inc. (NASDAQ: IMCR) was downgraded to Hold from Buy at Jefferies, which cut the target price for the shares to $33 from $46. Incyte Corp. (NASDAQ: INCY) was downgraded to Hold from Buy at Jefferies, which cut the price target on the stock to $94 from $120 NewLake Capital Partners Inc. (OTC: NLCP) was cut to Neutral from Buy at Compass Point, with a $15 target price.  Qualcomm Inc. (NASDAQ: QCOM) was downgraded to Sell from Neutral at Seaport Research, which has a $100 target price for the legacy tech giant. Initiations: Alamo Group Inc. (NYSE: ALG) was initiated with an Outperform rating at William Blair, with a target price of $220. Eaton Corporation plc. (NYSE: ETN) was reinstated at Jefferies with a Buy rating and a $430 target price. 
Fifth Third Bancorp (NASDAQ: FITB) was resumed with an Overweight rating at JPMorgan, which bumped the target price for the bank to $50.50 from $45. PayPay Corp. (NASDAQ: PAYP) was started with an Outperform rating at Macquarie, with a $22.90 target. The company was a recent IPO. Sunbelt Rental Holdings Inc. (NYSE: SUNB) was started with an Underperform rating at Bank of America, with a $62 target price objective.

Fountain Valley, California and Austin, Texas--(Newsfile Corp. - March 25, 2026) - Moving iMage Technologies, Inc. (NYSE American: MITQ) ("MiT"), a leading provider of advanced out-of-home entertainment technology and services for cinemas, stadiums, arenas, esports, and immersive venues worldwide, today announced a three-year strategic agreement with Alamo Drafthouse Cinema. Under the agreement, Alamo Drafthouse will deploy MiT's DCS-branded cinema loudspeaker systems across its circuit, further enhancing its reputation for delivering premium, guest-focused theatrical experiences.

This collaboration reflects MiT's ongoing commitment to supporting exhibitors of all sizes with high-performance audio solutions that elevate the cinematic experience for audiences everywhere.

The agreement, which applies to all new theater construction, remodels, auditorium upgrades, and replacement speaker purchases during the term, is being launched with two premium large format (PLF) cinema upgrades at Alamo's Brooklyn, NY and Littleton, CO locations. The auditorium upgrades feature Dolby Atmos immersive sound, enabling multidimensional audio placement and enhanced clarity, powered by DCS cinema loudspeaker systems as well as Barco laser projection systems. MiT is overseeing system design, integration, and commissioning services for the installations, working closely with Alamo Drafthouse to ensure seamless deployment and long-term performance. Completion is expected later in March.

The partnership underscores Alamo Drafthouse's focus on delivering best-in-class cinematic experiences and extends MiT's position as a trusted provider of premium cinema audio solutions. DCS loudspeakers, known for their premium features and quality workmanship, have been selected to support the enhanced audio performance requirements of these PLF auditoriums. While all cinema audio systems can utilize DCS loudspeakers, they are frequently chosen for high-performance and PLF environments where exceptional sound reproduction and durability are critical.

Key Project Components

Barco laser projectors that incorporate proprietary HDR technology, delivering exceptional image clarity and featuring unprecedented brightness, profound blacks, and captivating contrast.

Dolby Atmos has reinvented how entertainment is created and experienced, allowing creatives everywhere to place each sound exactly where they want it to go, for a more realistic and immersive audio experience.

DCS Loudspeaker Systems including SC-423C 3-Way Screen Channel Loudspeakers, along with, delivering powerful, precise sound coverage throughout each auditorium. The system configuration supports the demanding technical standards of premium format presentations and features crisp dialogue and detailed mids.

Additional DCS systems equipment package includes dozens of Dual 18-inch Cinema Subwoofers (model SB-7218), Surround Loudspeakers (model SR-1020, SR-1290 and SR-1590) and 18-inch Flyable Subwoofers (model SB-118F and SB-218F).

Chris Drazba, Chief Development Officer, Alamo Drafthouse Cinema, commented, "We have great confidence in Moving iMage Technologies as a trusted cinema solutions provider. We are excited by their acquisition of the marquee DCS line of cinema loudspeakers to their suite of proprietary products. Their technical expertise, service capabilities and commitment to performance, reliability, and innovation align closely with our mission to deliver exceptional moviegoing experiences for our guests."

Moving iMage President and COO, Francois Godfrey, added, "We are honored by the Alamo Drafthouse team's commitment to our new DCS loudspeaker line, building on our long-term partnership delivering premium cinema solutions and installation services. MiT brings decades of experience partnering with the leading innovators in the cinema equipment ecosystem, and we are [certain] Alamo will be very pleased with their multi-year commitment to the DCS product line. These intial premium upgrades underscore our mutual dedication to innovation, quality, and operational excellence across next-generation exhibition environments."

About Alamo Drafthouse Cinema (https://drafthouse.com)
Alamo Drafthouse Cinema was founded in 1997 as a single-screen mom and pop repertory theater in Austin, TX. Twenty-nine years later, with 40 locations and counting, Alamo Drafthouse has been called "the best theater in America" by Entertainment Weekly and "the best theater in the world" by Wired. Alamo Drafthouse has built a reputation as a movie lover's oasis not only by combining best-in-class food and drink service with the movie-going experience, but also introducing unique programming and high-profile, star-studded special events. Alamo Drafthouse created Fantastic Fest, a world-renowned genre film festival dubbed "The Geek Telluride" by Variety featuring independents, international filmmakers, and major Hollywood studios. Alamo Drafthouse continues to expand its brand in new and exciting ways, including the American Genre Film Archive, a non-profit film archive dedicated to preserving, restoring and sharing film, and with several new theaters announced for this year and beyond.

About Moving iMage Technologies (www.movingimagetech.com)
With a focus on innovation, service, and quality, Moving iMage Technologies ("MiT) is a trusted partner in delivering state-of-the-art out-of-home entertainment environments. Founded in 2003, MiT provides products, integrated systems design, custom engineering, proprietary products, software, and installation services for cinemas, screening rooms, postproduction facilities, high-end home theaters, Esports venues, arenas, stadiums, and other entertainment spaces.

MiT manufactures a broad line of digital cinema peripherals in the U.S., including automation systems, projector pedestals/bases, projector lifts, hush boxes, direct-view LED frames, lighting fixtures and dimmers, power management devices, operations software, and Esports platforms. It also produces and markets on a global basis the DCS line of premium cinema loudspeakers which are widely recognized as an industry standard. MiT also distributes and integrates cinema equipment from Barco, Sharp (NEC) Digital Cinema, Christie Digital, LEA Professional, Dolby, GDC, JBL/Crown, LG, Meyer Sound, Trinnov, Q-SYS, QSC, Samsung and others.

MiT's Caddy Products division designs and sells cupholders, concession trays, and venue accessories that enhance concession sales and improve the guest experience.

Forward-Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.

Follow us on X: @movingimagenews
Follow us on LinkedIn: MiT on LinkedIn

MITQ Investor Relations Contacts
Chris Eddy or David Collins
Catalyst IR
[email protected] or 212-924-9800

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289750

Source: Moving iMage Technologies

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, /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced today that its Board of Directors has declared its quarterly dividend of $0.34 per share. Payment of the April dividend will be made on April 29, 2026, to shareholders of record at the close of business on April 15, 2026.

About Alamo Group
Alamo Group is a leader in the manufacture and sale of high-quality, purpose-built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities. Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) as well as related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,800 employees and operates 27 manufacturing facilities in North America, Canada, Europe, Brazil and Australia. 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 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.

SOURCE Alamo Group Inc.

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, /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) today reported results for the first quarter 2026.

Highlights:

Net sales were $417.1 million, up 6.7% compared to the first quarter of 2025 Net income was $29.2 million and adjusted net income was $31.1 million Fully diluted EPS was $2.41 per share and adjusted fully diluted EPS was $2.56 per share Adjusted EBITDA of $59.3 million was 14.2% of net sales, up 1.8% compared to the first quarter of 2025 Net sales in the Industrial Equipment Division increased 6.5% compared to the first quarter of 2025 Net sales in the Vegetation Management Division increased 7.0% compared to the first quarter of 2025 Successfully closed the Petersen acquisition and commenced work on synergy realization Debt, net of cash, was $95.2 million at the end of first quarter of 2026 Robert Hureau, Alamo Group's President, and Chief Executive Officer commented, "We are pleased with the financial results for the first quarter and we believe there is good momentum across many of our key initiatives aimed at creating long-term value for our employees and shareholders."

First Quarter Results

Net sales for the first quarter of 2026 were $417.1 million, an increase of 6.7% compared to $391.0 million for the first quarter of 2025. Net income for the first quarter of 2026 was $29.2 million, or $2.41 per fully diluted share compared to $31.8 million, or $2.64 per fully diluted share for the first quarter of 2025.

The Company also reported adjusted net income of $31.1 million, or $2.56 per fully diluted share, for the first quarter of 2026 compared to adjusted net income $32.5 million, or $2.70 per fully diluted share for the first quarter of 2025.  Adjusted EBITDA for first quarter of 2026 was $59.3 million, or 14.2% of net sales, compared to $58.3 million, or 14.9% of net sales, for the first quarter of 2025.

Net sales in the Industrial Equipment Division were $241.7 million, an increase of 6.5% compared to $227.1 million for the first quarter of 2025. Adjusted EBITDA in the Industrial Equipment Division for the first quarter of 2026 was $39.7 million, or 16.4% of net sales, compared to $37.4 million, or 16.5% of net sales, for the first quarter of 2025.

Net sales in the Vegetation Management Division were $175.4 million, an increase of 7.0% compared to $163.9 million in the first quarter of 2025.  Adjusted EBITDA in the Vegetation Management Division for the first quarter of 2026 was $19.6 million, or 11.2% of net sales, compared to $20.8 million, or 12.7% of net sales, for the first quarter of 2025.

Robert Hureau, Alamo Group's President and Chief Executive Officer commented, "Our Vegetation Management Division made good progress in terms of sales growth and improvement in profitability despite the end markets continuing to be challenging."

Operating cash flow for the first quarter ended March 31, 2026 was negative $23.5 million due to strong sequential growth, especially in the Vegetation Management Division, where net sales increased by $36.7 million or 26.4% in the first quarter of 2026 compared to the fourth quarter of 2025. Operating Cash Flow on a last-twelve-month basis was $139.8 million, or 138.2% of net income.

At March 31, 2026, total debt was $290.5 million, total cash was $195.2 million and the Company had $308.4 million of availability under its Revolving Facility.

Mr. Hureau added, "Our leverage, cash flow and overall liquidity are strong, and we remain in good position to continue executing on our capital deployment strategies. We look forward to a further discussion regarding our results and operating strategy during our upcoming Earnings Conference Call."

Earnings Conference Call

The Company will host a conference call to discuss the first quarter results on Tuesday, May 5, 2026, at 10:00 a.m. ET. Hosting the call will be members of senior management.  Individuals wishing to participate in the conference call should dial (833) 816-1163 (domestic) or (412) 317-1898 (international). For interested individuals unable to join the call, a replay will be available until Tuesday, May 12, 2026 by dialing (855) 669-9658 (domestic) or (412) 317-0088 (internationally), with passcode 1646754.

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 Tuesday, May 5, 2026, beginning at 10:00 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 manufacture and sale of high-quality, purpose-built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities.  Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) as well as related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,900 employees and operates 27 manufacturing facilities in North America, Canada, Europe, Brazil and Australia. 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 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)

Alamo Group Inc. and Subsidiaries 

Condensed Consolidated Statements of Income

(in thousands, except per share amounts)

(Unaudited)

Three Months Ended

3/31/2026

3/31/2025

Net sales:

  Vegetation Management

$     175,420

$     163,890

  Industrial Equipment

241,729

227,060

Total net sales

417,149

390,950

Cost of sales

312,344

288,109

Gross profit

104,805

102,841

25.1 %

26.3 %

Selling, general and administration expense

57,767

54,330

Amortization expense

4,879

4,049

Income from operations

42,159

44,462

10.1 %

11.4 %

Interest expense

(4,624)

(3,194)

Interest income

1,481

1,238

Other income (expense)

32

(663)

Income before income taxes

39,048

41,843

Provision for income taxes

9,864

10,043

25.3 %

24.0 %

Net Income

$      29,184

$      31,800

Net income per common share:

Basic

$         2.42

$         2.65

Diluted

$         2.41

$         2.64

Average common shares:

Basic

12,051

11,990

Diluted

12,103

12,048

Alamo Group Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited) 

March 31,
2026

March 31,
2025

ASSETS

Current assets:

Cash and cash equivalents

$  195,234

$  200,274

Accounts receivable, net

334,956

339,596

Inventories

425,538

356,406

Other current assets

27,843

14,958

Total current assets

983,571

911,234

Rental equipment, net

60,273

57,198

Property, plant and equipment, net

162,807

159,183

Goodwill

266,610

204,582

Intangible assets, net

225,691

147,899

Other non-current assets

28,492

24,598

Total assets

$ 1,727,444

$ 1,504,694

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade accounts payable

$  141,662

$  104,977

Income taxes payable

2,704

18,725

Accrued liabilities

68,466

73,006

Current maturities of long-term debt and finance lease obligations

15,000

15,009

Total current liabilities

227,832

211,717

Long-term debt, net of current maturities

275,467

201,789

Long-term tax liability

470

626

Other long-term liabilities

24,964

24,201

Deferred income taxes

25,787

9,300

Total liabilities

554,520

447,633

Total stockholders' equity

1,172,924

1,057,061

Total liabilities and stockholders' equity

$ 1,727,444

$ 1,504,694

Alamo Group Inc. and Subsidiaries

Interim Condensed Consolidated Statements of Cash Flows

(in thousands)

(Unaudited)

Three Months Ended 

March 31,

2026

2025

Operating Activities

Net income

$   29,184

$   31,800

Adjustment to reconcile net income to net cash provided by operating activities:

Provision for doubtful accounts

(376)

35

Depreciation - Property, plant and equipment

6,722

6,561

Depreciation - Rental equipment

3,029

2,884

Amortization of intangibles

4,879

4,049

Amortization of debt issuance

176

176

Stock-based compensation expense

1,847

2,303

Provision for deferred income tax expense (benefit)

1,640

(1,641)

Gain on sale of property, plant and equipment

(654)

—

Changes in operating assets and liabilities:

Accounts receivable

(53,368)

(30,865)

Inventories

(23,101)

(9,613)

Rental equipment

(2,262)

(7,148)

Prepaid expenses and other assets

(1,818)

(7,096)

Trade accounts payable and accrued liabilities

7,328

13,987

Income taxes payable

5,080

5,489

Other long-term liabilities, net

(1,818)

3,280

Net cash (used) provided by operating activities

(23,512)

14,201

Investing Activities

Acquisitions, net of cash acquired

(166,507)

—

Purchase of property, plant and equipment

(4,507)

(6,008)

Proceeds from sale of property, plant and equipment

1,242

116

Net cash used in investing activities

(169,772)

(5,892)

Financing Activities

Borrowings on bank revolving credit facility

120,000

—

Repayments on bank revolving credit facility

(31,600)

—

Principal payments on long-term debt and finance leases

(3,750)

(3,752)

Dividends paid

(4,093)

(3,595)

Proceeds from exercise of stock options

1,014

354

Common stock repurchased

(1,398)

(1,613)

Net cash provided by (used) in financing activities

80,173

(8,606)

Effect of exchange rate changes on cash and cash equivalents

(1,314)

3,297

Net change in cash and cash equivalents

(114,425)

3,000

Cash and cash equivalents at beginning of the year

309,659

197,274

Cash and cash equivalents at end of the period

$  195,234

$  200,274

Cash paid during the period for:

Interest

$    4,743

$    3,239

Income taxes

3,525

6,241

Alamo Group Inc.

Non-GAAP Financial Measures Reconciliation

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 non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income and Adjusted Fully Diluted EPS, adjusts for certain items that the management believes are not indicative of underlying performance. Adjusted Operating Income accounts for these impacts on a pre-tax basis and Adjusted Net Income and Adjusted Fully Diluted EPS are calculated on a after-tax basis. Management believes isolating certain items from the core operating performance improves comparability across periods, and reflects how management plans and assesses the business.

Attachment 2 shows a reconciliation of Earnings Before Interest, Taxes, Depreciation, and Amortization  ("EBITDA") and Adjusted EBITDA.

Attachment 3 reflects Division performance inclusive of non-GAAP financial measures such as Backlog, Adjusted Operating Income, Earnings Before Interest, Tax, Depreciation and Amortization ("EBITDA") and Adjusted EBITDA.

Attachment 4 shows the net change in our total debt net of cash and discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division.

Attachment 1

Alamo Group Inc.

Non-GAAP Financial Reconciliation

(in thousands, except per share numbers)

(Unaudited)

Non-GAAP Financial Measures

Three Months Ended

March 31,

2026

2025

Operating Income

$  42,159

$  44,462

CEO Transition(1)

—

222

Acquisition and Integration Expenses(2)

558

—

Restructuring Expenses(3)

1,942

762

Adjusted Operating Income

$  44,659

$  45,446

  Adjusted Operating Income % net sales

10.7 %

11.6 %

Net Income

$  29,184

$  31,800

CEO Transition(1), net of tax benefit $53

—

169

Acquisition and Integration Expenses(2), net of tax benefit $141

417

—

Restructuring Expenses(3), net of tax benefit $491 and $183, respectively

1,451

579

Adjusted Net Income

$  31,052

$  32,548

Fully Diluted EPS

$     2.41

$     2.64

CEO Transition(1)

—

0.01

       Acquisition and Integration Expenses(2)

0.03

—

       Restructuring Expenses(3)

0.12

0.05

              Adjusted Fully Diluted EPS

$     2.56

$     2.70

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both unsuccessful and successful deals and integration expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 2

Alamo Group Inc.

Non-GAAP Financial Reconciliation

(in thousands)

(Unaudited)

EBITDA

Three Months Ended

March 31, 2026

March 31, 2025

Net Income

$        29,184

$        31,800

Interest, net

3,143

1,956

Provision for income taxes

9,864

10,043

Depreciation

9,751

9,445

Amortization

4,879

4,049

     EBITDA

$        56,821

$        57,293

     EBITDA % net sales

13.6 %

14.7 %

Adjustments:

CEO Transition(1)

$             —

$           222

Acquisition and Integration Expenses(2)

558

—

Restructuring Expenses(3)

1,942

762

     Adjusted EBITDA

$        59,321

$        58,277

     Adjusted EBITDA % net sales

14.2 %

14.9 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both unsuccessful and successful deals and integration expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 3

Alamo Group Inc.

Non-GAAP Financial Reconciliation

(in thousands)

(Unaudited)

Industrial Equipment Division Performance

Three Months Ended 

March 31,

2026

2025

Backlog

$    404,883

$    513,215

Net Sales

241,729

227,060

Income from Operations

31,646

31,150

Income from Operations % net sales

13.1 %

13.7 %

Adjustments:

CEO Transition(1)

$           —

$         119

Acquisition and Integration Expenses(2)

400

—

Restructuring Expenses(3)

320

—

Adjusted Operating Income

$     32,366

$     31,269

Adjusted Operating Income % of sales

13.4 %

13.8 %

Depreciation

5,487

5,393

Amortization

1,923

1,129

Other (income) expense

(27)

(360)

EBITDA

$     39,029

$     37,312

EBITDA % net Sales

16.1 %

16.4 %

Adjustments:

CEO Transition(1)

$           —

$         119

 Acquisition and Integration Expenses(2)

400

—

Restructuring Expenses(3)

320

—

Adjusted EBITDA

$     39,749

$     37,431

Adjusted EBITDA % net sales

16.4 %

16.5 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both unsuccessful and successful deals and integration expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 3 (Continued)

Alamo Group Inc.

Non-GAAP Financial Reconciliation

(in thousands)

(Unaudited)

Vegetation Management Division Performance

Three Months Ended 

March 31,

2026

2025

Backlog

$   198,108

$    189,493

Net Sales

175,420

163,890

Income from Operations

10,513

13,312

Income from Operations % net sales

6.0 %

8.1 %

Adjustments:

CEO Transition(1)

$          —

$         103

Acquisition and Integration Expenses(2)

158

—

Restructuring Expenses(3)

1,622

762

Adjusted Operating Income

$     12,293

$     14,177

Adjusted Operating Income % of sales

7.0 %

8.7 %

Depreciation

4,264

4,052

Amortization

2,956

2,920

Other (income) expense

59

(303)

EBITDA

$     17,792

$     19,981

EBITDA % net Sales

10.1 %

12.2 %

Adjustments:

CEO Transition(1)

$          —

$         103

Acquisition and Integration Expenses(2)

158

—

Restructuring Expenses(3)

1,622

762

Adjusted EBITDA

$     19,572

$     20,846

Adjusted EBITDA % net sales

11.2 %

12.7 %

Notes:

1.

CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses

2.

Acquisition and integration expenses include advisory fees and other related costs for both unsuccessful and successful deals and integration expenses

3.

Restructuring expenses include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements

Attachment 4

Alamo Group Inc.

Non-GAAP Financial Reconciliation

(in thousands)

(Unaudited)

Consolidated Net Change of Total Debt, Net of Cash

March 31, 2026

March 31, 2025

Net Change

Current maturities

$        15,000

$        15,009

Long-term debt,net of current

275,467

201,789

Total debt

$       290,467

$       216,798

Total cash

195,234

200,274

     Total Debt Net of Cash

$        95,233

$        16,524

$       78,709

Impact of Currency Translation on Net Sales by Division

Three Months Ended

March 31,

Change due to currency
translation

2026

2025

% change
from 2025

$

%

Vegetation Management

$       175,420

$       163,890

7.0 %

$          6,335

3.9 %

Industrial Equipment

241,729

227,060

6.5 %

3,332

1.5 %

Total net sales

$       417,149

$       390,950

6.7 %

$          9,667

2.5 %

SOURCE Alamo Group Inc.

Alamo Group Inc. (ALG) Q1 2026 Earnings Call Transcript

Despite a weak farm income forecast marring the near-term outlook of the Zacks Manufacturing - Farm Equipment industry, it is expected to benefit from rising agricultural equipment demand driven by the food needs of a growing global population.

Deere & Company (DE - Free Report) , CNH Industrial (CNH - Free Report) , AGCO Corporation (AGCO - Free Report) and Alamo Group (ALG - Free Report) are well-positioned to capitalize on this trend through continued product expansion and innovation. The industry is also gaining from rapid advancements in precision agriculture, automation and smart farming technologies, as companies invest heavily in digital solutions that make farming more efficient, accurate and easier to manage across the production cycle.

About the Industry The Zacks Manufacturing - Farm Equipment industry comprises companies that manufacture agricultural equipment. These equipment include tractors, combines, cotton pickers and harvesting equipment; tillage, seeding and application equipment, consisting of sprayers, nutrient management and soil preparation machinery; and hay and forage equipment, comprising self-propelled forage harvesters and attachments, balers and mowers. Some companies in the industry produce turf and utility equipment, consisting of riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, commercial mowing equipment, and garden tillers and snow throwers. Some participants manufacture irrigation equipment. Deere, Kubota and CNH Industrial are presently the top three global manufacturers of agricultural equipment (in that order).

Trends Shaping the Future of the Manufacturing - Farm Equipment Industry Low Farm Income Likely to Weigh on the Industry:  The U.S. Department of Agriculture (USDA) forecasts a 0.7% year-over-year dip in net farm income to $153.4 billion for 2026. On an inflation-adjusted basis, net farm income is expected to fall 2.6%. Total crop receipts are forecast to inch up 1.2% to $240.8 billion in 2026. While receipts for corn and hay are expected to increase, they are expected to be offset partly by declines in wheat and rice receipts. Adjusted for inflation, total crop receipts are anticipated to slip 0.7%.  Meanwhile, total animal/animal product receipts are projected to fall 5.8% to $273.9 billion in 2026. Direct government farm payments are expected to increase sharply to $44.3 billion, up $13.8 billion from 2025, mainly driven by higher commodity-related payments and supplemental disaster assistance for farmers and ranchers. Total production expenses, including those associated with operator dwellings, are expected to rise 1% to $477.7 billion in 2026. Livestock and poultry purchases, feed, and labor are likely to remain the largest expense categories. Spending on livestock and poultry purchases is projected to record the steepest increase, rising 9.7%, while feed expenses are expected to decline 6.8% in 2026. The anticipated decline in farm income remains a key concern, as weaker earnings could dampen farmers’ purchasing power and delay equipment and input spending, creating headwinds for the farm equipment industry.

Demand for Food to Fuel the Industry: Despite the ongoing volatility in commodity prices and lower crop receipts, agricultural equipment demand will continue to be supported by increased global demand for food, stemming from population growth and an increasing proportion of the population aspiring for better living standards. With farm sizes increasing, there is a greater need for labor, but escalating labor costs are prompting farmers to turn to mechanization. Additionally, subsidies on agricultural machinery purchases are enabling even small-scale farmers to invest in equipment.

Pricing, Cost-Cutting Actions to Boost Margins: The industry has not been immune to the rampant cost inflation prevailing in the sector. Constraints on the availability of raw materials, labor and trucking resources have led to higher lead times for deliveries. However, the industry players have recently been reporting improvements in the supply chain. The companies have been implementing pricing and cost-reduction actions, which are likely to help sustain margins.

Technologically Advanced Machinery Gaining Popularity: Customers are increasingly relying on advanced technology, smart farming solutions and mechanization to run their operations. Thus, the industry participants are enhancing investments in launching products equipped with advanced technologies and features to keep up with customers' evolving demands. Precision agriculture technology is expected to be a key catalyst, as it enables farmers to increase yield with reduced input costs and sustainability benefits.

Zacks Industry Rank Indicates Dull Prospects The Zacks Manufacturing - Farm Equipment industry is part of the broader Zacks Industrial Products sector. The industry currently carries a Zacks Industry Rank #200, which places it at the bottom 18% of 245 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dim prospects in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Despite the bleak near-term prospects of the industry, we will present a few Manufacturing - Farm Equipment stocks that can be retained in one’s portfolio. It is worth taking a look at the industry’s stock-market performance and valuation picture before that.

Industry Underperforms Sector and S&P 500 The Zacks Manufacturing - Farm Equipment industry has underperformed its sector and the Zacks S&P 500 composite over the past 12 months. Stocks in this industry have gained 14.1% in the past 12 months compared with the S&P 500’s growth of 31.7%. The Industrial Products sector has risen 27.7% in the said time frame.

One-Year Price Performance

Industry's Current Valuation On the basis of the trailing EV/EBITDA ratio, which is a commonly used multiple for valuing farm equipment stocks, we see that the industry is currently trading at 30.4X compared with the S&P 500’s 18.47X. The Industrial Products sector’s forward 12-month EV/EBITDA is 19.97X. This is shown in the charts below.

Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)

Enterprise Value/EBITDA (EV/EBITDA) Ratio (F12M)

Over the last five years, the industry traded as high as 32.79X and as low as 14.15X, the median being 19.78X.

4 Manufacturing - Farm Equipment Stocks to Keep an Eye on Deere: The company will continue to benefit from its strong focus on launching technologically advanced products and feature-rich solutions that strengthen its competitive positioning. Expansion in precision agriculture remains a key growth catalyst, while replacement demand driven by the need to upgrade aging equipment should continue to support revenues. Deere’s exposure to the construction equipment market also positions it well to benefit from infrastructure spending, healthy rental activity and robust demand from projects such as data centers. Optimizing its cost structure through efficiency initiatives and footprint adjustments, while leveraging pricing actions and its Smart Industrial strategy to offset input cost pressures over time, is also a smart move. Deere’s recent acquisition of construction technology company Tenna is aimed at scaling its business through Tenna’s customer-centric mixed-fleet model. Deere recently acquired construction technology company Tenna with the aim of scaling and growing the Construction & Forestry business using the latter's customer-focused mixed-fleet model. Tenna’s platform offers contractors near real-time visibility into equipment operations, enabling better tracking of equipment trends, maintenance needs, planning and job-site coordination, ultimately improving productivity and reducing costs. Deere’s recent acquisition of the intellectual property and assets of Finland’s Risutec Oy will help expand its silviculture strategy and commitment to sustainable reforestation.

The Zacks Consensus Estimate for the Moline, IL-based company’s fiscal 2026 earnings has moved up 0.2% over the past 90 days. Deere has a trailing four-quarter earnings surprise of around 11.25%, on average. The company currently has an estimated long-term earnings growth rate of 15.9% and carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Price & Consensus: DE

CNH Industrial: The company is accelerating investments in automation, autonomy, digital technologies, alternative fuels and electrification to strengthen its footprint in the Precision Technology market. CNH has enhanced its FieldOps platform with new capabilities and continues to expand its feature set. It has also partnered to launch the FLEETPRO line of aftermarket kits in the EMEA region and integrated advanced Raven technology into newer machines for full connectivity with FieldOps. These initiatives support its target of nearly doubling precision technology components in agricultural sales to 10% by 2030. At the same time, CNH aims to reinforce its leadership across the agricultural cycle through new product launches, feature upgrades and portfolio enhancements spanning tractors, harvesters and crop production and protection equipment. Its ongoing operational efficiency initiatives are also expected to drive continued margin expansion.

The Zacks Consensus Estimate for CNH Industrial’s fiscal 2026 earnings has moved up 5% over the past 60 days.  CNH has a trailing four-quarter earnings surprise of around 10.1%, on average. The Basildon, UK-based company currently has an estimated long-term earnings growth rate of 18% and carries a Zacks Rank of 3.

Price & Consensus: CNH

AGCO: Backed by its differentiated portfolio and “Farmer First” approach, the company outperformed the broader market in the first quarter of 2026, driven by strong demand for high-horsepower equipment and precision agriculture solutions. AGCO continues to invest in new products, precision farming technologies and smart farming solutions to strengthen its distribution network, expand digital capabilities and enhance its product offerings. At the same time, the company is streamlining and sharpening its portfolio of agricultural machinery and precision ag technology solutions while maintaining disciplined investments in technology and organic growth initiatives. AGCO is also focused on debt reduction and enhancing shareholder returns, recently raising its quarterly dividend by 3%. Supported by its Farmer First strategy, strong innovation pipeline and ongoing cost discipline, the company remains well positioned to generate healthy cash flows going forward.

AGCO has an estimated long-term earnings growth rate of 24.9%. The consensus estimate for AGCO’s 2026 earnings has moved up 2% in the past 60 days. The estimate suggests year-over-year growth of 11.6%. It has a trailing four-quarter earnings surprise of 41.4%, on average. This Duluth, GA-based company currently carries a Zacks Rank of 3.

Price & Consensus: AGCO

Alamo: Supported by robust operating cash flows and solid liquidity, the company has been steadily investing in organic growth initiatives as well as strategic acquisitions. Its acquisition strategy focuses on profitable businesses with innovative, market-leading product portfolios that serve stable and steadily growing end markets. In line with this approach, it acquired Petersen Industries, a manufacturer of specialized truck-mounted grapple loader equipment for municipal and industrial customers. The Industrial Equipment Division’s growth in the first quarter of 2026 was primarily driven by the successful integration of the Petersen and Ring-O-Matic acquisitions. The Vegetation Management achieved its first quarterly year-over-year sales increase in nine quarters in the first quarter of 2026, signaling a potential stabilization in previously declining end markets. The company anticipates continued margin progression throughout 2026, driven by manufacturing efficiencies and new product innovation, including the commercial launch of the hybrid mechanical sweeper in the second half of the year.

The Zacks Consensus Estimate for the Seguin, TX-based company’s fiscal 2026 earnings has moved up 5.6% in 60 days’ time and implies year-over-year growth of 13.2%. ALG currently carries a Zacks Rank of 3 and has a long-term estimated earnings growth rate of 16%.

Price & Consensus: ALG