Alamo Group reports Q2 EPS 2.57, consensus $2.71

Reports Q2 revenue $419.1M, consensus $409.45M. Second quarter EPS included an unfavorable impact to net income of $2.5M, or approximately 21c per share, primarily due to the revaluation of US dollar-denominated monetary assets held in our Canadian entities. Jeff Leonard, Alamo Group’s (ALG) President and Chief Executive Officer commented, “The company’s solid second quarter results reflected improved operating margin performance. The results were primarily driven by sustained strong demand from governmental agencies and specialty contractors for products offered by the Industrial Equipment Division, coupled with encouraging sequential recovery in markets served by the Vegetation Management Division. While consolidated net sales growth was modest compared to a strong prior year second quarter, sequential improvement exceeded 7%.”