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1ST QUARTER: ALAMO GROUP'S SALES UP 12%, EARNINGS UP 5%
Alamo Group reports:

To view the complete report, click here.

Seguin, TX - Alamo Group Inc. (NYSE: ALG) today reported results for the first quarter ended March 31, 2021.

Highlights for the Quarter
Record net income for a first quarter of $17.5 million, up 12.5%
Net sales for the first quarter of $311.2 million, down 1.0%
Industrial Division net sales of $211.9 million, down 7.9%
Agricultural Division net sales of $99.3 million, up 17.5%
EBITDA for the first quarter of $36.7 million, up 4.9%(1)
Record Backlog at $452.5 million, up 94.5% compared to the first quarter of 2020 and up 27.8% compared to year end 2020

Summary of Results
Alamo Group's net sales for the first quarter of 2021 were $311.2 million compared to net sales of $314.4 million in the first quarter of 2020, a decrease of 1.0%. Net income for the quarter was a record of $17.5 million, or $1.47 per diluted share, compared to $15.5 million, or $1.31 per diluted share, in the first quarter of 2020, an increase of 12.5% in net income and 12.2% in net income per diluted share. 2020 first quarter results included the negative effects of the non-cash inventory step up charges of approximately $2.0 million on a pre-tax basis related to the October 2019 acquisition of Morbark.


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