Alamo Group Announces 2Q Results

Earlier this month, Alamo Group reported results for the second quarter ended June 30, 2014. Net sales for the quarter were a record $206.3 million, compared with net sales of $178.1 million for the previous year, a 16% increase. The majority of the increase was driven by sales from recent acquisitions, primarily the units of Specialized, which Alamo acquired in May this year. Excluding acquisitions, net sales for the quarter increased 3% to a record $182.7 million.

The company’s North American Agricultural Division reported net sales of $52.6 million in the second quarter, down 8% compared with net sales of $57.3 million in 2013. Excluding the effects of acquisitions, net sales were $51.3 million, a decrease of 10%.

Ron Robinson, Alamo Group’s President and Chief Executive Officer, said “It was very gratifying to complete the acquisition of the Specialized business units, though the contributions they made for the partial quarter they were with us were offset by high levels of acquisition-related expenses. Had they been with us for the full quarter, all of these costs would have been more than offset.”

Alamo Group Agricultural Division—Association member since 1952; alamo-group.com. S