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Sep 30, 2020
Alamo Group Q3 2020 Earnings Report
Reported record net sales and increased net income for the third quarter of 2020.
Key Takeaways
Alamo Group's net sales for the third quarter of 2020 were $291.8 million, an increase of 7.3% compared to the third quarter of 2019. Net income for the quarter was $20.0 million, or $1.69 per diluted share, compared to net income of $17.4 million, or $1.47 per diluted share, in the third quarter of 2019, an increase of 15.0%.
Record net sales for a third quarter of $291.8 million, up 7.3%
Industrial Division net sales $196.2 million, up 10.1%
Agricultural Division net sales $95.5 million, up 2.0%
Net income for the third quarter of $20.0 million, up 15.0%
Alamo Group
Alamo Group
Alamo Group Revenue by Segment
Revenue by Segment
Industrial Equipment Division Revenue
CapyFin.com Forward Guidance
The Company is optimistic about the outlook for Alamo Group as they believe the positive momentum they are currently experiencing should help their fourth quarter results and continue into 2021.
Positive Outlook
- Positive momentum is expected to continue into 2021.
- Proactive management through the pandemic is expected.
- Adjustments to staffing will be made as needed.
- Expenses will be controlled.
- Quick reactions to changes affecting the Company and business are expected.
Challenges Ahead
- Uncertainty remains until there is a clearer resolution to the COVID pandemic.
- Uncertainty surrounding the upcoming elections in the U.S.
- The fourth quarter tends to be one of the weaker quarters due to holidays.
- The fourth quarter tends to be one of the weaker quarters due to lower operating levels during winter months by end users.
- Industrial Division's backlog is softer than the pre-COVID levels