Alamo Group recently reported results for the quarter that ended March 31.
Overall net sales for the quarter decreased by 1 percent compared to last year. Net income for the quarter increased by 12.5 percent.
Net sales in the company’s agricultural division increased by 17.5 percent. The division’s income from operations increased by 63 percent.
“These are certainly interesting times with the lingering issues related to the COVID pandemic, a variety of supply chain challenges, disruption with logistics and more inflationary pressure than we have experienced in the last several years,” said Ron Robinson, Alamo Group’s president and CEO. “Yet, despite all of these issues, our business is rebounding nicely from the economic downturn that began a little over one year ago spawned by the pandemic.”
Robinson reported bookings above pre-pandemic levels.
“However, there has been a lag in our ability to fully respond to this demand due to the issues mentioned previously. This has resulted in longer lead times and high levels of backlog for our company,” he said.
This was Robinson’s last quarterly report to shareholders. He retires this summer. He will continue as a member of the board of directors.
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