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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2025
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE TRANSITION PERIOD FROM ____ TO ____

Commission file number 0-21220
ALAMO GROUP INC.
(Exact name of registrant as specified in its charter)
Delaware
74-1621248
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification Number)

 1627 East Walnut, Seguin, Texas  78155
(Address of principal executive offices, including zip code)
 
830-379-1480
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, par value
$.10 per share
ALGNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

At October 31, 2025, 12,115,428 shares of common stock, $.10 par value, of the registrant were outstanding.


1

Alamo Group Inc. and Subsidiaries
 
INDEX
 
                                                                                                                                                                              
PART I.
FINANCIAL INFORMATION
PAGE
Item 1.
Interim Condensed Consolidated Financial Statements  (Unaudited)
Three and Nine Months Ended September 30, 2025 and September 30, 2024
Three and Nine Months Ended September 30, 2025 and September 30, 2024
September 30, 2025 and December 31, 2024
Three and Nine Months Ended September 30, 2025 and September 30, 2024
Nine Months Ended September 30, 2025 and September 30, 2024
Item 2.
Item 3.
Item 4.
PART II.
Item 1.
Legal Proceedings
Item 1A.
Risk Factors
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.
Defaults Upon Senior Securities
Item 4.
Mine Safety Disclosures
Item 5.
Other Information
Item 6.
Exhibits

2

Alamo Group Inc. and Subsidiaries
Interim Condensed Consolidated Statements of Income
(Unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands, except per share amounts)2025202420252024
Net sales:
Vegetation Management
$173,059 $190,115 $515,307 $625,397 
Industrial Equipment
246,983 211,186 714,758 617,793 
Total net sales420,042 401,301 1,230,065 1,243,190 
Cost of sales318,359 300,414 917,249 922,490 
Gross profit101,683 100,887 312,816 320,700 
Selling, general and administrative expenses59,931 56,747 171,397 178,158 
Amortization expense4,210 4,061 12,337 12,175 
Income from operations
37,542 40,079 129,082 130,367 
Interest expense(3,897)(4,886)(10,775)(17,075)
Interest income1,522 562 3,955 1,877 
Other income (expense), net(210)(32)(4,056)1 
Income before income taxes
34,957 35,723 118,206 115,170 
Provision for income taxes9,574 8,318 29,917 27,321 
Net Income
$25,383 $27,405 $88,289 $87,849 
Net income per common share:
Basic
$2.11 $2.29 $7.35 $7.34 
Diluted
$2.10 $2.28 $7.31 $7.30 
Average common shares:
Basic
12,029 11,977 12,013 11,965 
Diluted
12,094 12,041 12,075 12,035 
Dividends declared$0.30 $0.26 $0.90 $0.78 
 
 See accompanying notes.
 
3

Alamo Group Inc. and Subsidiaries
Interim Condensed Consolidated Statements of Comprehensive Income
(Unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net income$25,383 $27,405 $88,289 $87,849 
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax (expense) and benefit of $(526) and $(128), and $(2,363) and $259, respectively
(7,328)13,825 31,555 1,044 
Recognition of deferred pension and other post-retirement benefits, net of tax expense of $(59) and $(69), and $(176) and $(206), respectively
200 235 601 705 
Unrealized loss on derivative instruments, net of tax benefit of $6 and $824, and $624 and $627, respectively
(21)(2,815)(2,131)(2,142)
Other comprehensive income (loss), net of tax
(7,149)11,245 30,025 (393)
Comprehensive income$18,234 $38,650 $118,314 $87,456 

See accompanying notes.


4

Alamo Group Inc. and Subsidiaries
Interim Condensed Consolidated Balance Sheets
(Unaudited) 
 
(in thousands, except share amounts)
September 30, 2025December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents
$244,806 $197,274 
Accounts receivable, net
335,210 305,561 
Inventories, net
378,166 343,363 
Prepaid expenses and other current assets
9,758 11,206 
Income tax receivable
11,453 91 
Total current assets
979,393 857,495 
Rental equipment, net
61,558 52,942 
Property, plant and equipment
380,895 365,608 
Less:  Accumulated depreciation
(215,008)(207,276)
Total property, plant and equipment, net
165,887 158,332 
Goodwill
214,429 203,027 
Intangible assets, net
147,322 151,360 
Deferred income taxes
1,119 1,118 
Other non-current assets
25,271 26,005 
Total assets
$1,594,979 $1,450,279 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable
$129,297 $84,505 
Income taxes payable
— 13,259 
Accrued liabilities
76,770 77,537 
Current maturities of long-term debt and finance lease obligations
15,000 15,008 
Total current liabilities
221,067 190,309 
Long-term debt and finance lease obligations, net of current maturities
194,430 205,473 
Long-term tax liability
471 626 
Other long-term liabilities
24,423 24,619 
Deferred income taxes
21,982 10,998 
Total liabilities
462,373 432,025 
Stockholders’ equity:
Common stock, $0.10 par value, 20,000,000 shares authorized; 12,072,308 and 12,017,308 outstanding at September 30, 2025 and December 31, 2024, respectively
1,207 1,202 
Additional paid-in-capital
153,704 146,866 
Treasury stock, at cost; 82,600 shares at September 30, 2025 and December 31, 2024, respectively
(4,566)(4,566)
Retained earnings
1,033,831 956,347 
Accumulated other comprehensive loss
(51,570)(81,595)
Total stockholders’ equity
1,132,606 1,018,254 
Total liabilities and stockholders’ equity
$1,594,979 $1,450,279 

See accompanying notes.
5


Alamo Group Inc. and Subsidiaries
Interim Condensed Consolidated Statements of Stockholders’ Equity
 (Unaudited)

For nine months ended September 30, 2025
Common Stock
Additional
Paid-in Capital
Treasury StockRetained Earnings
Accumulated
Other
Comprehensive Loss
Total Stock-
holders’ Equity
(in thousands)
SharesAmount
Balance at December 31, 202411,935 $1,202 $146,866 $(4,566)$956,347 $(81,595)$1,018,254 
Other comprehensive income
— — — — 31,800 9,558 41,358 
Stock-based compensation expense
— — 2,303 — — — 2,303 
Stock-based compensation transactions
29 3 (1,262)— — — (1,259)
Dividends paid ($0.30 per share)
— — — — (3,595)— (3,595)
Balance at March 31, 202511,964 $1,205 $147,907 $(4,566)$984,552 $(72,037)$1,057,061 
Other comprehensive income— — — — 31,106 27,616 58,722 
Stock-based compensation expense
— — 2,367 — — — 2,367 
Stock-based compensation transactions
16 1 846 — — — 847 
Dividends paid ($0.30 per share)
— — — — (3,601)— (3,601)
Balance at June 30, 202511,980 $1,206 $151,120 $(4,566)$1,012,057 $(44,421)$1,115,396 
Other comprehensive income (loss)
— — — — 25,383 (7,149)18,234 
Stock-based compensation expense
— — 3,693 — — — 3,693 
Stock-based compensation transactions
10 1 (1,109)— — — (1,108)
Dividends paid ($0.30 per share)
— — — — (3,609)— (3,609)
Balance at September 30, 202511,990 $1,207 $153,704 $(4,566)$1,033,831 $(51,570)$1,132,606 

See accompanying notes.

6

For nine months ended September 30, 2024
Common Stock
Additional Paid-in Capital
Treasury StockRetained Earnings
Accumulated
Other
Comprehensive Loss
Total Stock-
holders’ Equity
(in thousands)SharesAmount
Balance at December 31, 202311,882 $1,196 $137,791 $(4,566)$852,859 $(54,517)$932,763 
Other comprehensive income (loss)
— — — — 32,120 (6,459)25,661 
Stock-based compensation expense
— — 2,125 — — — 2,125 
Stock-based compensation transactions
31 4 (894)— — — (890)
  Dividends paid ($0.26 per share)
— — — — (3,103)— (3,103)
Balance at March 31, 202411,913 $1,200 $139,022 $(4,566)$881,876 $(60,976)$956,556 
Other comprehensive income (loss)— — — — 28,324 (5,179)23,145 
Stock-based compensation expense
— — 2,633 — — — 2,633 
Stock-based compensation transactions
14 1 492 — — — 493 
Dividends paid ($0.26 per share)
— — — — (3,111)— (3,111)
Balance at June 30, 202411,927 $1,201 $142,147 $(4,566)$907,089 $(66,155)$979,716 
Other comprehensive income— — — — 27,405 11,245 38,650 
Stock-based compensation expense
— — 2,427 — — — 2,427 
Stock-based compensation transactions
4 — 42 — — — 42 
Dividends paid ($0.26 per share)
— — — — (3,115)— (3,115)
Balance at September 30, 202411,931 $1,201 $144,616 $(4,566)$931,379 $(54,910)$1,017,720 

See accompanying notes.

7

Alamo Group Inc. and Subsidiaries
Interim Condensed Consolidated Statements of Cash Flows
(Unaudited)
Nine Months Ended
September 30,
(in thousands)20252024
Operating Activities
Net income$88,289 $87,849 
Adjustment to reconcile net income to net cash provided by operating activities:
Provision for doubtful accounts
(46)1,234 
Depreciation - Property, plant and equipment
20,144 20,027 
Depreciation - Rental equipment
8,719 7,257 
Amortization of intangibles
12,337 12,175 
Amortization of debt issuance
527 527 
Stock-based compensation expense
8,363 7,185 
Provision for deferred income tax8,681 (2,406)
Gain on sale of property, plant and equipment
(489)(789)
Changes in operating assets and liabilities:
Accounts receivable
(18,815)4,847 
Inventories
(24,382)5,451 
Rental equipment
(17,235)(15,259)
Prepaid expenses and other assets
6,200 (1,583)
Trade accounts payable and accrued liabilities
37,156 (804)
Income taxes payable
(24,860)3,172 
Long-term tax payable(156)(1,925)
Other long-term liabilities, net
(2,009)3,684 
Net cash provided by operating activities102,424 130,642 
Investing Activities
Acquisitions, net of cash acquired(17,582)— 
Purchase of property, plant and equipment(25,400)(18,988)
Proceeds from sale of property, plant and equipment1,064 2,906 
Net cash used in investing activities(41,918)(16,082)
Financing Activities
Borrowings on bank revolving credit facility50,000 187,000 
Repayments on bank revolving credit facility(50,000)(187,000)
Principal payments on long-term debt and finance leases(11,257)(11,317)
Contingent consideration payment from acquisition — (4,402)
Dividends paid(10,805)(9,329)
Proceeds from exercise of stock options1,502 1,589 
Common stock repurchased(3,022)(1,944)
Net cash used in financing activities(23,582)(25,403)
Effect of exchange rate changes on cash and cash equivalents10,608 (1,038)
Net change in cash and cash equivalents47,532 88,119 
Cash and cash equivalents at beginning of the year197,274 51,919 
Cash and cash equivalents at end of the period$244,806 $140,038 
Cash paid during the period for:
Interest
$10,742 $17,349 
Income taxes
45,939 29,004 
See accompanying notes.
8

Alamo Group Inc. and Subsidiaries
Notes to Interim Condensed Consolidated Financial Statements - (Unaudited)
September 30, 2025
 
1.  Basis of Financial Statement Presentation

General

The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.  The balance sheet at December 31, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024 (the "2024 10-K").

Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. This ASU will result in the required additional disclosures being included in our consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40). The ASU requires disaggregated Income Statement Expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is also permitted. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.

2. Business Combinations
On June 30, 2025, the Company acquired 100% of the outstanding membership interests in Ring-O-Matic, LLC (“Ring-O-Matic”) for approximately $17.6 million. Ring-O-Matic is a leading provider of trailer-mounted industrial vacuum excavation equipment. The purpose of the acquisition was to expand our current product offerings and to achieve cost and revenue synergies within our Industrial Equipment division. The Company has included the opening balance sheet for Ring-O-Matic in its consolidated financial statements; however, the impact to the consolidated balance sheet was immaterial.

3. Accounts Receivable

Accounts receivable is shown net of sales discounts and the allowance for credit losses.

At September 30, 2025 the Company had $10.6 million in reserves for sales discounts compared to $14.2 million at December 31, 2024 related to products shipped to our customers under various promotional programs.
 
9

4.  Inventories
 
Inventories are stated at the lower of cost or net realizable value. Net inventories consist of the following:
(in thousands)
September 30, 2025December 31, 2024
Finished goods$347,543 $317,169 
Work in process22,838 21,310 
Raw materials7,785 4,884 
Inventories, net$378,166 $343,363 
 
Inventory obsolescence reserves were $11.6 million at September 30, 2025 and $8.3 million at December 31, 2024.

5. Rental Equipment

Rental equipment is shown net of accumulated depreciation of $23.7 million and $25.0 million at September 30, 2025 and December 31, 2024, respectively. The Company recognized depreciation expense of $2.9 million and $2.4 million for the three months ended September 30, 2025 and 2024, respectively, and $8.7 million and $7.3 million for the nine months ended September 30, 2025 and 2024, respectively.

6.  Fair Value Measurements
 
The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of September 30, 2025 and December 31, 2024. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Derivative Instruments and Hedging Activities

The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative instruments to be reported on the condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of hedging relationships. The Company is exposed to market risk such as changes in foreign currencies and interest rates. The Company does not hold or issue derivative financial instruments for trading purposes.

The Company may periodically utilize derivative instruments such as foreign currency or interest rate swaps in the normal course of business to partially offset exposure. The related gains and losses are reported as a component of accumulated other comprehensive loss ("AOCL") in the condensed consolidated balance sheets.

The Company has two interest rate swap agreements outstanding as of September 30, 2025. The notional amount of the Company’s outstanding swap agreements is $260.1 million. The fair value of the Company’s derivative liabilities is $1.9 million as of September 30, 2025 compared to a derivative asset of $0.8 million as of December 31, 2024. In the condensed consolidated balance sheet, the fair value of the interest rate swaps is included in other long-term liabilities. The gains and losses are not material to the Company’s condensed consolidated financial statements for the periods presented.

10

7. Goodwill and Intangible Assets

The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2025:
(in thousands)Vegetation ManagementIndustrial EquipmentConsolidated
Balance at December 31, 2024$126,729 $76,298 $203,027 
Translation adjustment2,981 1,472 4,453 
Goodwill acquired— 6,949 6,949 
Balance at September 30, 2025$129,710 $84,719 $214,429 

The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands)
Estimated Useful Lives
September 30, 2025December 31, 2024
Definite:
Trade names and trademarks
15-25 years
$77,480 $72,040 
Customer and dealer relationships
8-15 years
140,517 137,086 
Patents and drawings
3-12 years
29,002 28,529 
Favorable leasehold interests
7 years
4,200 4,200 
Noncompetition agreements
5 years
200 200 
Total at cost251,399 242,055 
Less accumulated amortization(109,577)(96,195)
Total net141,822 145,860 
Indefinite:
Trade names and trademarks5,500 5,500 
Total Intangible Assets$147,322 $151,360 

The Company recognized amortization expense of $4.2 million and $4.1 million for the three months ended September 30, 2025 and 2024, respectively, and $12.3 million and $12.2 million for the nine months ended September 30, 2025 and 2024, respectively.

8.  Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:
Components of Lease Cost
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Finance lease cost:
     Amortization of right-of-use assets$2 $2 $6 $6 
Operating lease cost1,894 1,859 5,721 5,323 
Short-term lease cost497 885 1,473 1,755 
Variable lease cost53 57 161 208 
Total lease cost$2,446 $2,803 $7,361 $7,292 



11

Maturities of operating lease liabilities were as follows:
Future Minimum Lease Payments
(in thousands)September 30, 2025December 31, 2024
2025$1,896 *$6,998 
20266,540 5,719 
20274,222 3,595 
20281,989 1,556 
20291,340 927 
Thereafter1,114 914 
Total minimum lease payments$17,101 $19,709 
Less imputed interest(1,158)(1,432)
Total operating lease liabilities$15,943 $18,277 
*Period ended September 30, 2025 represents the remaining three months of 2025.
Future Lease Commencements

As of September 30, 2025, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $5.9 million. These operating leases will commence in fiscal year 2025 and 2026 with lease terms of 1 to 7 years.

Supplemental balance sheet information related to leases was as follows:
Operating Leases
(in thousands)September 30, 2025December 31, 2024
Other non-current assets
$15,649 $18,099 
Accrued liabilities6,505 6,449 
Other long-term liabilities9,438 11,828 
    Total operating lease liabilities$15,943 $18,277 
Weighted Average Remaining Lease Term3.20 years3.49 years
Weighted Average Discount Rate4.62 %4.57 %

Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$5,196 $4,800 

12

9. Debt

The components of long-term debt are as follows:
 
(in thousands)		September 30, 2025December 31, 2024
Bank revolving credit facility$— $— 
Term debt209,430 220,475 
Finance lease obligations— 6 
Total debt209,430 220,481 
Less current maturities15,000 15,008 
Total long-term debt$194,430 $205,473 

As of September 30, 2025, $2.8 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts, resulting in $397.2 million in available borrowings.

10.  Common Stock and Dividends
 
Dividends declared and paid on a per share basis were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Dividends declared$0.30 $0.26 $0.90 $0.78 
Dividends paid$0.30 $0.26 $0.90 $0.78 

On October 1, 2025, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.30 per share, which was paid on October 28, 2025, to shareholders of record at the close of business on October 15, 2025.
 
11.  Earnings Per Share

The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share.  Net income for basic and diluted calculations do not differ.

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands, except per share)
2025202420252024
Net Income$25,383 $27,405 $88,289 $87,849 
Average Common Shares:
Basic (weighted-average outstanding shares)
12,029 11,977 12,013 11,965 
Dilutive potential common shares from stock options
65 64 62 70 
Diluted (weighted-average outstanding shares)
12,094 12,041 12,075 12,035 
Basic earnings per share$2.11 $2.29 $7.35 $7.34 
Diluted earnings per share$2.10 $2.28 $7.31 $7.30 

13

12.  Revenue and Segment Information

Revenues from Contracts with Customers

Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
Wholegoods
$331,615 $307,401 $983,850 $979,099 
Parts
75,677 75,525 200,097 216,605 
Other
12,750 18,375 46,118 47,486 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 

Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.

Revenue by Geographical Location
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
United States
$298,482 $292,242 $881,302 $881,231 
Canada
41,055 32,448 112,977 102,126 
France
20,028 17,894 63,990 67,259 
United Kingdom
22,858 21,355 65,559 65,733 
Brazil
8,060 8,225 27,952 31,749 
Netherlands5,096 7,798 16,058 28,994 
Australia
4,169 5,330 13,120 16,889 
Germany2,275 1,688 5,777 6,864 
Other
18,019 14,321 43,330 42,345 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 

Net sales are attributed to countries based on the location of the customer.

Segment Information

The Company’s Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM is responsible for evaluating the performance of the Company’s operating segments. This evaluation of operating segments supports the allocation of resources, both financial and human, to optimize income from operations as the measure of segment profit and loss.

Our reportable segments are our two Divisions: Vegetation Management and Industrial Equipment.

The CODM focuses heavily on operating performance and reviews mainly non-GAAP measures, such as bookings and backlog, absorption, and headcount. The CODM does not utilize asset metrics to evaluate the segment performance. The GAAP measures used are:

•Division Net Sales
•Division Cost of Sales
•Division Operating Expenses
•Division Income from Operations
14


The following includes a summary of the unaudited financial information by reporting segment at September 30, 2025:  

Three Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$173,059 $246,983 $420,042 
Less:
Cost of Sales(134,584)(183,775)(318,359)
Operating Expenses(30,997)(33,144)(64,141)
Income from Operations7,478 30,064 37,542 
Interest Income1,522 
Other Income (Expense)(210)
Interest Expense(3,897)
Income Before Taxes34,957 
Taxes  9,574 
Net Income$25,383 


Three Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$190,115 $211,186 $401,301 
Less:
Cost of Sales(143,578)(156,836)(300,414)
Operating Expenses(34,133)(26,675)(60,808)
Income from Operations12,404 27,675 40,079 
Interest Income562 
Other Income (Expense)(32)
Interest Expense(4,886)
Income Before Taxes35,723 
Taxes  8,318 
Net Income$27,405 

15

Nine Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$515,307 $714,758 $1,230,065 
Less:
Cost of Sales(390,290)(526,959)(917,249)
Operating Expenses(91,476)(92,258)(183,734)
Income from Operations33,541 95,541 129,082 
Interest Income3,955 
Other Income (Expense)(4,056)
Interest Expense(10,775)
Income Before Taxes118,206 
Taxes  29,917 
Net Income$88,289 

Nine Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$625,397 $617,793 $1,243,190 
Less:
Cost of Sales(466,044)(456,446)(922,490)
Operating Expenses(109,264)(81,069)(190,333)
Income from Operations50,089 80,278 130,367 
Interest Income1,877 
Other Income (Expense)1 
Interest Expense(17,075)
Income Before Taxes115,170 
Taxes  27,321 
Net Income$87,849 


(in thousands)
September 30, 2025December 31, 2024
Goodwill
Vegetation Management
$129,710 $126,729 
Industrial Equipment
84,719 76,298 
Consolidated$214,429 $203,027 
Total Identifiable Assets
Vegetation Management
$920,007 $852,007 
Industrial Equipment
674,972 598,272 
Consolidated$1,594,979 $1,450,279 

16

13.  Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component, net of tax, were as follows:
Three Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(41,949)$(989)$(1,483)$(44,421)$(64,566)$(1,502)$(87)$(66,155)
Other comprehensive income (loss) before reclassifications(7,328)— (286)(7,614)13,825 — (3,198)10,627 
Amounts reclassified from accumulated other comprehensive loss— 200 265 465 — 235 383 618 
Other comprehensive income (loss)(7,328)200 (21)(7,149)13,825 235 (2,815)11,245 
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)


Nine Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(80,832)$(1,390)$627 $(81,595)$(51,785)$(1,972)$(760)$(54,517)
Other comprehensive income (loss) before reclassifications31,555 — (2,929)28,626 1,044 — (2,712)(1,668)
Amounts reclassified from accumulated other comprehensive loss— 601 798 1,399 — 705 570 1,275 
Other comprehensive income (loss)31,555 601 (2,131)30,025 1,044 705 (2,142)(393)
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)

17

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations
 
The following tables set forth, for the periods indicated, certain financial data:
 
As a
Percent of Net Sales
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Vegetation Management41.2 %47.4 %41.9 %50.3 %
Industrial Equipment58.8 %52.6 %58.1 %49.7 %
Total sales, net
100.0 %100.0 %100.0 %100.0 %
Cost Trends and Profit Margin, as
Percentages of Net Sales
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Gross profit24.2 %25.1 %25.4 %25.8 %
Income from operations8.9 %10.0 %10.5 %10.5 %
Income before income taxes8.3 %8.9 %9.6 %9.3 %
Net income6.0 %6.8 %7.2 %7.1 %
 
Overview
 
This report contains forward-looking statements that are based on Alamo Group’s current expectations.  Actual results in future periods may differ materially from those expressed or implied because of a number of risks and uncertainties which are discussed below and in the Forward-Looking Information section. Unless the context otherwise requires, the terms the "Company", "we", "our" and "us" means Alamo Group Inc.
 
For the nine months of 2025, the Company's net sales declined by 1%, income from operations decreased by 1%, while net income improved by 0.5% compared to the same period in 2024.

The decreases in net sales were primarily driven by weakness in the markets served by our Vegetation Management Division. Additionally, the sale of Herschel Parts on August 16, 2024 had a negative impact to year-on-year sales, albeit immaterial on a total Company basis. These challenges were partially offset by strong sales growth in the Industrial Equipment Division. The Company's backlog at September 30, 2025, totaled $618.3 million, a 15% decrease from $728.8 million at this same period the prior-year, however, new orders increased 6% year over year.

Consolidated income from operations for the first nine months of 2025 was $129.1 million, down 1% from $130.4 million in the same period 2024. The decline in consolidated income from operations was due to weakness in the Vegetation Management Division and the impact from tariffs, partially offset by strong end market demand and operational improvements in the Industrial Equipment Division. We will continue to feel some impacts from tariffs on our consolidated results but we are working to seek available exemptions and to pass these costs on to customers. There is no guarantee we will be able to completely offset tariff effects.

Net Sales in the Industrial Equipment Division increased by 16% (15% organically) for the first nine months of 2025 compared to the same period in 2024. The Division’s backlog declined by 19% as lead-times improved. New orders increased 3% year over year. Income from operations rose 19% versus the prior-year period, reflecting higher demand and continued operational improvements across this Division, partially offset by the impact from tariffs.

Net Sales in the Vegetation Management Division decreased 18% for the first nine months of 2025 compared to the same period in 2024. The Division's backlog declined 3%, while new orders increased 11% year over year. Income from operations decreased 33% versus the prior year period due to several factors including lower sales from the persistent market weakness, operational inefficiencies associated with factory consolidations and the impact from tariffs, partially offset by the reduction in operating expenses.

We are executing a footprint optimization program within our Vegetation Management Division. To date, we have relocated applicable product families, designated one facility as held for sale, repurposed one facility to
18

support other brands, and completed initial set-ups for portions of the production lines. Over the next approximately two quarters, we plan to finish the remaining line installations and increase production. During this transition, we expect temporary production inefficiencies, duplicate costs, and shipment-timing effects that may pressure revenue and gross margin, along with potentially one-time expenses related to relocation and facility exit. Following completion, we expect improved capacity utilization, service levels and structural cost reductions. The anticipated timing, costs and benefits are forward-looking and subject to the risks and uncertainties described under “Forward-Looking Information”. As part of the ongoing consolidation within the Vegetation Management Division, the Gibson City, Illinois facility has been designated for disposition and is reported on the balance sheet under Other Non-Current Assets as held-for-sale.


Results of Operations
 
Three Months Ended September 30, 2025 vs. Three Months Ended September 30, 2024
 
Net sales for the third quarter of 2025 were $420.0 million, an increase of $18.7 million or 5% compared to $401.3 million for the third quarter of 2024. Net sales during the third quarter of 2025 increased due to strong demand for the Industrial Equipment Division, but were offset by the weaker forestry, tree care, and agricultural markets in the Vegetation Management Division.
 
Net sales in the Industrial Equipment Division were $247.0 million in the third quarter of 2025 compared to $211.2 million for the same period in 2024, an increase of $35.8 million or 17%. The increase was due to solid demand in all product lines, particularly vacuum trucks and snow removal contributing the most to year-over-year growth.

Net sales in the Vegetation Management Division decreased by $17.0 million or 9% to $173.1 million for the third quarter of 2025 compared to $190.1 million during the same period in 2024. The decrease was due to sustained weakness in forestry, tree care, and agricultural mowing markets. The sale of Herschel Parts on August 16, 2024, contributed slightly to the year-over-year decrease, but was immaterial to the overall results.

Gross profit for the third quarter of 2025 was $101.7 million (24% of net sales) compared to $100.9 million (25% of net sales) during the same period in 2024, an increase of $0.8 million. Strong demand and performance in the Industrial Equipment Division supported the increase in gross profit, but was offset by the weaker demand and operating inefficiencies in the Vegetation Management Division. Additionally, tariff impact in the third quarter was only partially offset by mitigating actions.

Selling, general and administrative expenses (“SG&A”) were $59.9 million (14% of net sales) during the third quarter of 2025 compared to $56.7 million (14% of net sales) during the same period of 2024, an increase of $3.2 million attributable to the CEO transition and acquisition and integration costs. Amortization expense in the third quarter of 2025 was $4.2 million compared to $4.1 million in the same period in 2024.

Interest expense was $3.9 million for the third quarter of 2025 compared to $4.9 million during the same period in 2024 due to debt reduction.
 
Other income (expense), net was $0.2 million of expense for the third quarter of 2025 compared to less than $0.1 million of expense during the same period in 2024. 
                                         
Provision for income taxes was $9.6 million (27% of income before income tax) in the third quarter of 2025 compared to $8.3 million (23% of income before income tax) during the same period in 2024. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law, which introduced significant changes to U.S. income tax legislation. Key provisions of the OBBBA that affect the company include (i) 100 percent bonus depreciation for qualified property placed in service after January 19, 2025, and (ii) immediate expensing of domestic research and experimental expenditures starting January 1, 2025. In accordance with ASC 740, the Company has recognized the effects of the new tax law in the period of enactment. The impact of the OBBBA for the quarter ended September 30, 2025, resulted in a reduction of current income tax expense, primarily due to the impact of 100% bonus depreciation and immediate expensing of domestic research and experimental expenditures. This reduction was substantially offset by a corresponding increase in deferred income tax expense. The net effect of OBBBA did not
19

have a material impact on the Company’s effective tax rate for the period. The Company continues to evaluate the impact of the OBBBA on its consolidated financial statements.

The Company’s net income after tax was $25.4 million or $2.10 per share on a diluted basis for the third quarter of 2025 compared to $27.4 million or $2.28 per share on a diluted basis for the third quarter of 2024.  Tariffs were only partially offset by mitigating actions.

Nine Months Ended September 30, 2025 vs. Nine Months Ended September 30, 2024

Net sales for the first nine months of 2025 were $1,230.1 million, a decrease of $13.1 million or 1% compared to $1,243.2 million for the first nine months of 2024. The decrease in net sales during the first nine months of 2025 was driven by a significant reduction in market demand in forestry, tree care, and agricultural mowing in the Vegetation Management Division, partially offset by continued robust demand for Industrial Equipment.

Net sales in the Industrial Equipment Division were $714.8 million during the first nine months of 2025 compared to $617.8 million for the same period in 2024, an increase of $97.0 million or 16%. The increase in sales for the first nine months of 2025 compared to the first nine months of 2024 was mainly due to the continued strong demand across the division in excavators, vacuum trucks, and snow removal.

Net sales in the Vegetation Management Division decreased during the first nine months by $110.1 million or 18% to $515.3 million for 2025 compared to $625.4 million during the same period in 2024. The decrease was due to weaker demand for forestry, tree care, and agricultural mowing markets. The sale of Herschel Parts on August 16, 2024, was immaterial to the year over year sales decrease.

Gross profit for the first nine months of 2025 was $312.8 million (25% of net sales) compared to $320.7 million (26% of net sales) during the same period in 2024, a decrease of $7.9 million. The decrease in gross profit was mainly attributable to lower sales volume and production inefficiencies in Vegetation Management Division. Tariffs were only partially offset by mitigating actions.

SG&A expenses were $171.4 million (14% of net sales) during the first nine months of 2025 compared to $178.2 million (14% of net sales) during the same period of 2024, a decrease of $6.8 million attributable to labor cost savings actions taken in Vegetation Management offsetting additional costs of $3.9 million due to CEO transition and acquisition and integration costs. Amortization expense in the first nine months of 2025 was $12.3 million compared to $12.2 million in the same period in 2024. a decrease of $0.0 million.

Interest expense was $10.8 million for the first nine months of 2025 compared to $17.1 million during the same period in 2024, a decrease of $6.3 million mainly due to debt reduction.

Other income (expense), net was $4.1 million of expense during the first nine months of 2025 compared to less than $0.1 million of income in the first nine months of 2024. The increase was a result of unfavorable currency exchange rates.

Provision for income taxes was $29.9 million (25% of income before income taxes) in the first nine months of 2025 compared to $27.3 million (24% of income before income taxes) during the same period in 2024.
    
The Company's net income after tax was $88.3 million or $7.31 per share on a diluted basis for the first nine months of 2025 compared to $87.8 million or $7.30 per share on a diluted basis for the first nine months of 2024. The increase of $0.5 million resulted from the factors described above.

20

Liquidity and Capital Resources
 
In addition to normal operating expenses, the Company has ongoing cash requirements which are necessary to operate the business, including inventory purchases and capital expenditures.  The Company’s accounts receivable, inventory and accounts payable levels, particularly in its Vegetation Management Division, historically build in the first quarter and early spring and, to a lesser extent, in the fourth quarter in anticipation of the spring and fall selling seasons. Accounts receivable historically build in the first and fourth quarters of each year as a result of pre-season sales and year-round sales programs. These sales, primarily in the Vegetation Management Division, help balance the Company’s production during the first and fourth quarters.
 
As of September 30, 2025, the Company had working capital of $758.3 million which represents an increase of $91.1 million from working capital of $667.2 million at December 31, 2024. The increase in working capital was due to higher cash and cash equivalents as well as an increase in accounts receivable and inventory, partially offset by increase in accounts payable.

Capital expenditures were $25.4 million for the first nine months of 2025, compared to $19.0 million during the first nine months of 2024. The Company expects a capital expenditure level of approximately $30.0 million to $35.0 million for the full year of 2025. The Company will fund any future expenditures from operating cash flows or through our revolving credit facility, described below.
Net cash used for investing activities was $41.9 million during the first nine months of 2025 compared to $16.1 million during the first nine months of 2024.
Net cash used in financing activities was $23.6 million and $25.4 million during the nine month periods ended September 30, 2025 and September 30, 2024, respectively. Lower net cash used by financing activities for the first nine months of 2025 relates to no contingent consideration payment from an acquisition net of a higher dividend during the nine months ended September 30, 2025.

The Company had $159.4 million in cash and cash equivalents held by its foreign subsidiaries as of September 30, 2025. The majority of these funds are at our European and Canadian facilities. The Company will repatriate European and Canadian cash and cash equivalents as needed to fund operating and investing activities, and will monitor exchange rates to determine the appropriate timing of such repatriation given the current relative value of the U.S. dollar. Repatriated funds will be used to reduce debt levels, and to fund working capital, capital investments, and acquisitions company-wide.

On October 28, 2022, the Company, as Borrower, and each of its domestic subsidiaries as guarantors, entered into a Third Amended and Restated Credit Agreement (the “2022 Credit Agreement”) with Bank of America, N.A., as Administrative Agent. The 2022 Credit Agreement provides Borrower with the ability to request loans and other financial obligations in an aggregate amount of up to $655.0 million. Under the 2022 Credit Agreement, the Company has borrowed $255.0 million pursuant to a Term Facility, while up to $400.0 million is available to the Company pursuant to a Revolver Facility which terminates in 2027. The Term Facility requires the Company to make equal quarterly principal payments of $3.75 million over the term of the loan, with the final payment of any outstanding principal amount, plus interest, due at the end of the five year term. Borrowings under the 2022 Credit Agreement bear interest, at the Company’s option, at a Term Secured Overnight Financing Rate (“SOFR”) or a Base Rate (each as defined in the 2022 Credit Agreement), plus, in each case, an applicable margin. The applicable margin ranges from 1.25% to 2.50% for Term SOFR borrowings and from .25% to 1.50% for Base Rate borrowings with the margin percentage based upon the Company's consolidated leverage ratio. The Company must also pay a commitment fee to the lenders ranging between 0.15% to 0.30% on any unused portion of the $400.0 million Revolver Facility. The 2022 Credit Agreement requires the Company to maintain two financial covenants, namely, a maximum consolidated leverage ratio and a minimum consolidated fixed charge coverage ratio. The Agreement also contains various covenants relating to limitations on indebtedness, limitations on investments and acquisitions, limitations on the sale of properties and limitations on liens and capital expenditures. The Agreement also contains other customary covenants, representations and events of defaults. The expiration date of the 2022 Credit Agreement, including the Term Facility and the Revolver Facility, is October 28, 2027. As of September 30, 2025, $210.0 million was outstanding under the 2022 Credit Agreement, $210.0 million on the Term Facility and zero on the Revolver Facility. On September 30, 2025, $2.8 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts resulting in $397.2 million in available borrowings. The Company is in compliance with the covenants under the Agreement as of September 30, 2025.

Management believes the 2022 Credit Agreement along with the Company’s ability to internally generate funds from operations should be sufficient to allow the Company to meet its cash requirements for the foreseeable future.
21

However, future challenges affecting the banking industry and credit markets in general could potentially cause changes to credit availability, which creates a level of uncertainty.

As of September 30, 2025, we believe our financial position remains robust, supported by a strong balance sheet and healthy cash flow from operations. Our available liquidity, comprised of cash and cash equivalents, along with access to undrawn credit facilities, ensures that we are well equipped to meet our operating needs and explore strategic initiatives that could enhance shareholder value. We continuously evaluate our capital allocation strategy, including potentially repurchasing shares under the share repurchase program adopted by the Company and approved by the Board of Directors as announced on October 31, 2024 if it aligns with our strategic priorities and is deemed to be in the best interest of our shareholders. We believe that repurchasing our shares would be a prudent use of capital, provided appropriate market conditions exist.

Critical Accounting Estimates

Management’s Discussion and Analysis of Financial Condition and Results of Operations are based upon our Consolidated Financial Statements, which have been prepared in accordance with GAAP.  The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities.  Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.  Actual results may differ from these estimates under different assumptions or conditions.
 
Critical Accounting Policies

An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used, or changes in the accounting estimates that are reasonably likely to occur periodically, could materially impact the financial statements.  Management believes that of the Company's significant accounting policies, which are set forth in Note 1 of the Notes to Consolidated Financial Statements in the 2024 Form 10-K, the policies relating to the business combinations involve a higher degree of judgment and complexity. There have been no material changes to the nature of estimates, assumptions and levels of subjectivity and judgment related to critical accounting estimates disclosed in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the 2024 Form 10-K.

Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are likely to have a current or future material effect on our financial condition.

Forward-Looking Information

Part I of this Quarterly Report on Form 10-Q and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in Item 2 of this Quarterly Report contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  In addition, forward-looking statements may be made orally or in press releases, conferences, reports or otherwise, in the future by or on behalf of the Company. Generally, forward-looking statements are not based on historical facts but instead represent the Company's and its management's belief regarding future events.

Statements that are not historical are forward-looking. When used by us or on our behalf, the words "expect,"
“will,” “estimate,” “believe,” “intend,” "would," “could,” "predict," “should,” “anticipate,” "continue," “project,” “forecast,”
“plan,” “may” and similar expressions generally identify forward-looking statements made by us or on our behalf.
Forward-looking statements involve risks and uncertainties. These uncertainties include factors that affect all
businesses operating in a global market, as well as matters specific to the Company and the markets we serve.
Certain particular risks and uncertainties that continually face us include the following:

•budget constraints and revenue shortfalls which could affect the purchases of our type of equipment by governmental customers and related contractors in both domestic and international markets;
22

•market acceptance of new and existing products;
•our ability to hire suitable employees for our business and maintain good relations with employees;
•our ability to develop and manufacture new and existing products profitably;
•the inability of our suppliers, creditors, public utility providers and financial and other service organizations to deliver or provide their products or services to us;
•legal actions and litigation;
•impairment in the carrying value of goodwill;
•our ability to successfully integrate acquisitions and operate acquired businesses or assets;
•our ability to achieve anticipated cost savings and synergies associated with restructuring some of our business operations;
•current and changing tax laws in the U.S. and internationally;
•our ability to hire and retain quality skilled employees; and
•changes in the prices of agricultural commodities, which could affect our customers’ income levels.

In addition, we are subject to risks and uncertainties facing the industry in general, including the following:

•changes in business and political conditions and the economy in general in both domestic and international markets;
•uncertainty due to future direction of federal fiscal policy following national elections may slow the growth in governmental market revenue;
•the price and availability of energy and critical raw materials, particularly steel and steel products;
•increased competition;
•increases in input costs on items we use in the manufacturing of our products;
•adverse weather conditions such as droughts, floods, snowstorms, etc., which can affect the buying patterns of our customers and end-users;
•increased costs of complying with governmental regulations which affect corporations including related fines and penalties (such as the European General Data Protection Regulation (GDPR) and the California Consumer Privacy Act);
•an increase in unfunded pension plan liability due to financial market deterioration;
•the potential effects on the buying habits of our customers due to animal disease outbreaks and other epidemics;
•adverse market conditions and credit constraints which could affect our customers and end-users, such as cutbacks on dealer stocking levels;
•changes in market demand;
•climate related incidents and other sustainability risks, global pandemics, acts of war or aggression and terrorist activities or military actions;
•cyber security risks including the potential loss of proprietary data or data security breaches and related fines, penalties and other liabilities;
•financial market changes including changes in interest rates and fluctuations in foreign exchange rates;
•abnormal seasonal factors in our industry;
•changes in domestic and foreign governmental policies and laws, including increased levels of government regulation and changes in agricultural policies, including the amount of farm subsidies and farm payments as well as changes in trade policy that may have an adverse impact on our business;
•changes to global trade policies, tariffs, trade sanctions, and investment restrictions;
•government actions, including but not limited to budget levels, and changes in laws, regulations and legislation, relating to tax, environment, commerce, infrastructure spending, health and safety; and
•risk of governmental defaults and resulting impact on the global economy and particularly financial institutions.

The Company wishes to caution readers not to place undue reliance on any forward-looking statements and to recognize that the statements are not predictions of actual future results.  Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties
described above, as well as others not now anticipated. The foregoing statements are not exclusive and further information concerning us and our businesses, including factors that could potentially materially affect our financial results, may emerge from time to time. It is not possible for management to predict all risk factors or to assess the impact of such risk factors on the Company’s businesses. Any forward-looking statements made by or on behalf of the Company speak only to the date they are made and we do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the forward-looking statements were made.
23

 
Item 3.  Quantitative and Qualitative Disclosures About Market Risks

The Company is exposed to various market risks.  Market risks are the potential losses arising from adverse changes in market prices and rates.  The Company does not enter into derivative or other financial instruments for trading or speculative purposes.

Foreign Currency Risk        

International Sales

A portion of the Company’s operations consists of manufacturing and sales activities in international jurisdictions. The Company primarily manufactures its products in the U.S., U.K., France, Canada, Brazil, and the Netherlands.  The Company sells its products primarily in the functional currency within the markets where the products are produced, but certain sales from the Company's U.K. and Canadian operations are denominated in other foreign currencies.  As a result, the Company’s financials, specifically the value of its foreign assets, could be affected by factors such as changes in foreign currency exchange rates or weak economic conditions in the other markets in which the subsidiaries of the Company distribute their products.

Exposure to Exchange Rates

The Company translates the assets and liabilities of foreign-owned subsidiaries at rates in effect at the balance sheet date. Revenues and expenses are translated at average rates in effect during the reporting period. Translation adjustments are included in accumulated other comprehensive income within the statement of stockholders’ equity. The total foreign currency translation adjustment for the current quarter decreased stockholders’ equity by $7.3 million.

The Company’s earnings are affected by fluctuations in the value of the U.S. dollar as compared to foreign currencies, predominately in Europe and Canada, as a result of the sales of its products in international markets.  Forward currency contracts are used to hedge against the earnings effects of such fluctuations.  The result of a uniform 10% strengthening or 10% decrease in the value of the dollar relative to the currencies in which the Company’s sales are denominated would result in a change in gross profit of $9.5 million for the nine month period ended September 30, 2025.  A stronger U.S. dollar would unfavorably impact gross profit while a weaker U.S. dollar would provide a favorable impact to gross profit. This calculation assumes that each exchange rate would change in the same direction relative to the U.S. dollar.  In addition to the direct effects of changes in exchange rates, which include a changed dollar value of the resulting sales, changes in exchange rates may also affect the volume of sales or the foreign currency sales price as competitors’ products become more or less attractive.  The Company’s sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency prices. 

Interest Rate Risk

The Company’s long-term debt bears interest at variable rates.  Accordingly, the Company’s net income is affected by changes in interest rates.  Assuming the current level of borrowings at variable rates and a two percentage point change for the third quarter 2025 average interest rate under these borrowings, the Company’s interest expense would have changed by approximately $1.1 million.  To protect the Company's long-term debt from fluctuations in interest rates, the Company may enter into interest rate swaps to mitigate exposure.  However, this analysis assumes no such actions.  Further this analysis does not consider the effects of the change in the level of overall economic activity that could exist in such an environment.

Item 4. Controls and Procedures
 
Disclosure Controls and Procedures

An evaluation was carried out under the supervision and with the participation of Alamo’s management, including our President and Chief Executive Officer and Executive Vice President and Chief Financial Officer (Principal Financial Officer) of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934).  Based upon the evaluation,
24

the President and Chief Executive Officer and Executive Vice President and Chief Financial Officer (Principal Financial Officer) concluded that the Company’s design and operation of these disclosure controls and procedures were effective at the end of the period covered by this report.

Changes in internal control over financial reporting

There has been no change in our internal control over financial reporting that occurred during our last fiscal year that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II.  OTHER INFORMATION

Item 1. Legal Proceedings

For a description of legal proceedings, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024 (the "2024 10-K").

Item 1A. Risk Factors

There have not been any material changes from the risk factors previously disclosed in the 2024 Form 10-K for the year ended December 31, 2024.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

During the quarter ended September 30, 2025, there were no repurchases of our common stock under our share repurchase program.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable

Item 5. Other Information

(a) Reports on Form 8-K

None.
 
(b) Other Information
 
None.

(c) During the period covered by this report, none of the Company’s directors or executive officers has adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5–1 trading arrangement (each as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended).
 

25

Item 6. Exhibits

(a)   Exhibits
ExhibitsExhibit TitleIncorporated by Reference From the Following Documents
10.1—Filed as Exhibit 10.1 to Form 8-K, August 18, 2025
10.2—Filed as Exhibit 10.2 to Form 8-K, August 18, 2025
31.1—Filed Herewith
31.2—Filed Herewith
32.1—Filed Herewith
32.2—Filed Herewith
101.INS—XBRL Instance Document - the instance document does not appear in the Interactive Data Files because its XBRL tags are embedded within the Inline XBRL documentFiled Herewith
101.SCH—XBRL Taxonomy Extension Schema DocumentFiled Herewith
101.CAL—XBRL Taxonomy Extension Calculation Linkbase DocumentFiled Herewith
101.DEF—XBRL Taxonomy Extension Definition Linkbase DocumentFiled Herewith
101.LAB—XBRL Taxonomy Extension Label Linkbase DocumentFiled Herewith
101.PRE—XBRL Taxonomy Extension Presentation Linkbase DocumentFiled Herewith
104—Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)Filed Herewith

26

Alamo Group Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

November 6, 2025Alamo Group Inc.
(Registrant)
 
 
/s/ Robert P. Hureau
Robert P. Hureau
President & Chief Executive Officer
(Principal Executive Officer)
 
 
/s/ Agnieszka K. Kamps
Agnieszka K. Kamps
Executive Vice President & Chief Financial Officer
(Principal Financial Officer)


 
27


Exhibit 31.1
 
I, Robert P. Hureau, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Alamo Group Inc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

a. Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
  
 
Date:
November 6, 2025/s/ Robert P. Hureau
Robert P. Hureau
President & Chief Executive Officer



Exhibit 31.2
 
 
I, Agnieszka Kamps, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Alamo Group Inc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

a. Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
Date:
November 6, 2025/s/ Agnieszka Kamps
Agnieszka Kamps
Executive Vice President & Chief Financial Officer
(Principal Financial Officer)



Exhibit 32.1
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 
In connection with the Quarterly Report of Alamo Group Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Robert P. Hureau, President & Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

1.The Form 10-Q fully complies with the requirements of section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
2.The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
Date:
November 6, 2025/s/ Robert P. Hureau
Robert P. Hureau
President & Chief Executive Officer



Exhibit 32.2
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 
In connection with the Quarterly Report of Alamo Group Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Agnieszka Kamps, Executive Vice President & Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

1.The Form 10-Q fully complies with the requirements of section 13 (a) or 15 (d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and
2.The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
Date:
November 6, 2025/s/ Agnieszka Kamps
Agnieszka Kamps
Executive Vice President & Chief Financial Officer
(Principal Financial Officer)


v3.25.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2025
Oct. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 0-21220  
Entity Registrant Name ALAMO GROUP INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 74-1621248  
Entity Address, Address Line One 1627 East Walnut  
Entity Address, City or Town Seguin  
Entity Address, State or Province TX  
Entity Address, Postal Zip Code 78155  
City Area Code 830  
Local Phone Number 379-1480  
Title of 12(b) Security Common Stock, par value$.10 per share  
Trading Symbol ALG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   12,115,428
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Entity Central Index Key 0000897077  
Current Fiscal Year End Date --12-31  

v3.25.3
Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net sales:        
Total net sales $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190
Cost of Sales 318,359 300,414 917,249 922,490
Gross profit 101,683 100,887 312,816 320,700
Selling, general and administrative expenses 59,931 56,747 171,397 178,158
Amortization expense 4,210 4,061 12,337 12,175
Income from operations 37,542 40,079 129,082 130,367
Interest expense (3,897) (4,886) (10,775) (17,075)
Interest income 1,522 562 3,955 1,877
Other income (expense), net (210) (32) (4,056) 1
Income before income taxes 34,957 35,723 118,206 115,170
Provision for income taxes 9,574 8,318 29,917 27,321
Net Income $ 25,383 $ 27,405 $ 88,289 $ 87,849
Net income per common share:        
Basic (in dollars per share) $ 2.11 $ 2.29 $ 7.35 $ 7.34
Diluted (in dollars per share) $ 2.10 $ 2.28 $ 7.31 $ 7.30
Average common shares:        
Basic (in shares) 12,029 11,977 12,013 11,965
Diluted (in shares) 12,094 12,041 12,075 12,035
Dividends declared (in dollars per share) $ 0.30 $ 0.26 $ 0.90 $ 0.78
Vegetation Management        
Net sales:        
Total net sales $ 173,059 $ 190,115 $ 515,307 $ 625,397
Cost of Sales 134,584 143,578 390,290 466,044
Income from operations 7,478 12,404 33,541 50,089
Industrial Equipment        
Net sales:        
Total net sales 246,983 211,186 714,758 617,793
Cost of Sales 183,775 156,836 526,959 456,446
Income from operations $ 30,064 $ 27,675 $ 95,541 $ 80,278

v3.25.3
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 25,383 $ 27,405 $ 88,289 $ 87,849
Other comprehensive income (loss), net of tax:        
Foreign currency translation adjustments, net of tax (expense) and benefit of $(526) and $(128), and $(2,363) and $259, respectively (7,328) 13,825 31,555 1,044
Recognition of deferred pension and other post-retirement benefits, net of tax expense of $(59) and $(69), and $(176) and $(206), respectively 200 235 601 705
Unrealized loss on derivative instruments, net of tax benefit of $6 and $824, and $624 and $627, respectively (21) (2,815) (2,131) (2,142)
Other comprehensive income (loss), net of tax (7,149) 11,245 30,025 (393)
Comprehensive income $ 18,234 $ 38,650 $ 118,314 $ 87,456

v3.25.3
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Foreign currency translation adjustments, net of tax benefit and (expense) $ (526) $ (128) $ (2,363) $ 259
Recognition of deferred pension and other post-retirement benefits, net of tax expense (59) (69) (176) (206)
Unrealized (loss) income on derivative instruments, net of tax benefit and (expense) $ 6 $ 824 $ 624 $ 627

v3.25.3
Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 244,806 $ 197,274
Accounts receivable, net 335,210 305,561
Inventories, net 378,166 343,363
Prepaid expenses and other current assets 9,758 11,206
Income tax receivable 11,453 91
Total current assets 979,393 857,495
Rental equipment, net 61,558 52,942
Property, plant and equipment 380,895 365,608
Less:  Accumulated depreciation (215,008) (207,276)
Total property, plant and equipment, net 165,887 158,332
Goodwill 214,429 203,027
Intangible assets, net 147,322 151,360
Deferred income taxes 1,119 1,118
Other non-current assets 25,271 26,005
Total assets 1,594,979 1,450,279
Current liabilities:    
Trade accounts payable 129,297 84,505
Income taxes payable 0 13,259
Accrued liabilities 76,770 77,537
Current maturities of long-term debt and finance lease obligations 15,000 15,008
Total current liabilities 221,067 190,309
Long-term debt and finance lease obligations, net of current maturities 194,430 205,473
Long-term tax liability 471 626
Other long-term liabilities 24,423 24,619
Deferred income taxes 21,982 10,998
Total liabilities 462,373 432,025
Stockholders’ equity:    
Common stock, $0.10 par value, 20,000,000 shares authorized; 12,072,308 and 12,017,308 outstanding at September 30, 2025 and December 31, 2024, respectively 1,207 1,202
Additional paid-in-capital 153,704 146,866
Treasury stock, at cost; 82,600 shares at September 30, 2025 and December 31, 2024, respectively (4,566) (4,566)
Retained earnings 1,033,831 956,347
Accumulated other comprehensive loss (51,570) (81,595)
Total stockholders’ equity 1,132,606 1,018,254
Total liabilities and stockholders’ equity $ 1,594,979 $ 1,450,279

v3.25.3
Interim Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.1 $ 0.1
Common stock, authorized (in shares) 20,000,000 20,000,000
Common stock, outstanding (in shares) 12,072,308 12,017,308
Treasury stock, at cost (in shares) 82,600 82,600

v3.25.3
Interim Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Loss
Beginning balance ( in shares) at Dec. 31, 2023   11,882,000        
Beginning balance at Dec. 31, 2023 $ 932,763 $ 1,196 $ 137,791 $ (4,566) $ 852,859 $ (54,517)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 25,661       32,120 (6,459)
Stock-based compensation expense 2,125   2,125      
Stock-based compensation transactions (in shares)   31,000        
Stock-based compensation transactions (890) $ 4 (894)      
Dividends paid (3,103)       (3,103)  
Ending balance (in shares) at Mar. 31, 2024   11,913,000        
Ending balance at Mar. 31, 2024 956,556 $ 1,200 139,022 (4,566) 881,876 (60,976)
Beginning balance ( in shares) at Dec. 31, 2023   11,882,000        
Beginning balance at Dec. 31, 2023 932,763 $ 1,196 137,791 (4,566) 852,859 (54,517)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 87,456          
Ending balance (in shares) at Sep. 30, 2024   11,931,000        
Ending balance at Sep. 30, 2024 1,017,720 $ 1,201 144,616 (4,566) 931,379 (54,910)
Beginning balance ( in shares) at Mar. 31, 2024   11,913,000        
Beginning balance at Mar. 31, 2024 956,556 $ 1,200 139,022 (4,566) 881,876 (60,976)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 23,145       28,324 (5,179)
Stock-based compensation expense 2,633   2,633      
Stock-based compensation transactions (in shares)   14,000        
Stock-based compensation transactions 493 $ 1 492      
Dividends paid (3,111)       (3,111)  
Ending balance (in shares) at Jun. 30, 2024   11,927,000        
Ending balance at Jun. 30, 2024 979,716 $ 1,201 142,147 (4,566) 907,089 (66,155)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 38,650       27,405 11,245
Stock-based compensation expense 2,427   2,427      
Stock-based compensation transactions (in shares)   4,000        
Stock-based compensation transactions 42   42      
Dividends paid (3,115)       (3,115)  
Ending balance (in shares) at Sep. 30, 2024   11,931,000        
Ending balance at Sep. 30, 2024 $ 1,017,720 $ 1,201 144,616 (4,566) 931,379 (54,910)
Beginning balance ( in shares) at Dec. 31, 2024 12,017,308 11,935,000        
Beginning balance at Dec. 31, 2024 $ 1,018,254 $ 1,202 146,866 (4,566) 956,347 (81,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 41,358       31,800 9,558
Stock-based compensation expense 2,303   2,303      
Stock-based compensation transactions (in shares)   29,000        
Stock-based compensation transactions (1,259) $ 3 (1,262)      
Dividends paid (3,595)       (3,595)  
Ending balance (in shares) at Mar. 31, 2025   11,964,000        
Ending balance at Mar. 31, 2025 $ 1,057,061 $ 1,205 147,907 (4,566) 984,552 (72,037)
Beginning balance ( in shares) at Dec. 31, 2024 12,017,308 11,935,000        
Beginning balance at Dec. 31, 2024 $ 1,018,254 $ 1,202 146,866 (4,566) 956,347 (81,595)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) $ 118,314          
Ending balance (in shares) at Sep. 30, 2025 12,072,308 11,990,000        
Ending balance at Sep. 30, 2025 $ 1,132,606 $ 1,207 153,704 (4,566) 1,033,831 (51,570)
Beginning balance ( in shares) at Mar. 31, 2025   11,964,000        
Beginning balance at Mar. 31, 2025 1,057,061 $ 1,205 147,907 (4,566) 984,552 (72,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 58,722       31,106 27,616
Stock-based compensation expense 2,367   2,367      
Stock-based compensation transactions (in shares)   16,000        
Stock-based compensation transactions 847 $ 1 846      
Dividends paid (3,601)       (3,601)  
Ending balance (in shares) at Jun. 30, 2025   11,980,000        
Ending balance at Jun. 30, 2025 1,115,396 $ 1,206 151,120 (4,566) 1,012,057 (44,421)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Other comprehensive income (loss) 18,234       25,383 (7,149)
Stock-based compensation expense 3,693   3,693      
Stock-based compensation transactions (in shares)   10,000        
Stock-based compensation transactions (1,108) $ 1 (1,109)      
Dividends paid $ (3,609)       (3,609)  
Ending balance (in shares) at Sep. 30, 2025 12,072,308 11,990,000        
Ending balance at Sep. 30, 2025 $ 1,132,606 $ 1,207 $ 153,704 $ (4,566) $ 1,033,831 $ (51,570)

v3.25.3
Interim Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]                
Dividends paid (in dollars per share) $ 0.3 $ 0.3 $ 0.3 $ 0.26 $ 0.26 $ 0.26 $ 0.90 $ 0.78

v3.25.3
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net income $ 88,289 $ 87,849
Adjustment to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts (46) 1,234
Depreciation - Property, plant and equipment 20,144 20,027
Depreciation - Rental equipment 8,719 7,257
Amortization of intangibles 12,337 12,175
Amortization of debt issuance 527 527
Stock-based compensation expense 8,363 7,185
Provision for deferred income tax 8,681 (2,406)
Gain on sale of property, plant and equipment (489) (789)
Changes in operating assets and liabilities:    
Accounts receivable (18,815) 4,847
Inventories (24,382) 5,451
Rental equipment (17,235) (15,259)
Prepaid expenses and other assets 6,200 (1,583)
Trade accounts payable and accrued liabilities 37,156 (804)
Income taxes payable (24,860) 3,172
Long-term tax payable (156) (1,925)
Other long-term liabilities, net (2,009) 3,684
Net cash provided by operating activities 102,424 130,642
Investing Activities    
Acquisitions, net of cash acquired (17,582) 0
Purchase of property, plant and equipment (25,400) (18,988)
Proceeds from sale of property, plant and equipment 1,064 2,906
Net cash used in investing activities (41,918) (16,082)
Financing Activities    
Borrowings on bank revolving credit facility 50,000 187,000
Repayments on bank revolving credit facility (50,000) (187,000)
Principal payments on long-term debt and finance leases (11,257) (11,317)
Contingent consideration payment from acquisition 0 (4,402)
Dividends paid (10,805) (9,329)
Proceeds from exercise of stock options 1,502 1,589
Common stock repurchased (3,022) (1,944)
Net cash used in financing activities (23,582) (25,403)
Effect of exchange rate changes on cash and cash equivalents 10,608 (1,038)
Net change in cash and cash equivalents 47,532 88,119
Cash and cash equivalents at beginning of the year 197,274 51,919
Cash and cash equivalents at end of the period 244,806 140,038
Cash paid during the period for:    
Interest 10,742 17,349
Income taxes $ 45,939 $ 29,004

v3.25.3
Basis of Financial Statement Presentation
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Financial Statement Presentation Basis of Financial Statement Presentation
General

The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.  The balance sheet at December 31, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024 (the "2024 10-K").

Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. This ASU will result in the required additional disclosures being included in our consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40). The ASU requires disaggregated Income Statement Expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is also permitted. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.

v3.25.3
Business Combinations
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
On June 30, 2025, the Company acquired 100% of the outstanding membership interests in Ring-O-Matic, LLC (“Ring-O-Matic”) for approximately $17.6 million. Ring-O-Matic is a leading provider of trailer-mounted industrial vacuum excavation equipment. The purpose of the acquisition was to expand our current product offerings and to achieve cost and revenue synergies within our Industrial Equipment division. The Company has included the opening balance sheet for Ring-O-Matic in its consolidated financial statements; however, the impact to the consolidated balance sheet was immaterial.

v3.25.3
Accounts Receivable
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
Accounts receivable is shown net of sales discounts and the allowance for credit losses.
At September 30, 2025 the Company had $10.6 million in reserves for sales discounts compared to $14.2 million at December 31, 2024 related to products shipped to our customers under various promotional programs.

v3.25.3
Inventories
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
 
Inventories are stated at the lower of cost or net realizable value. Net inventories consist of the following:
(in thousands)
September 30, 2025December 31, 2024
Finished goods$347,543 $317,169 
Work in process22,838 21,310 
Raw materials7,785 4,884 
Inventories, net$378,166 $343,363 
 
Inventory obsolescence reserves were $11.6 million at September 30, 2025 and $8.3 million at December 31, 2024.

v3.25.3
Rental Equipment
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Rental Equipment Rental Equipment
Rental equipment is shown net of accumulated depreciation of $23.7 million and $25.0 million at September 30, 2025 and December 31, 2024, respectively. The Company recognized depreciation expense of $2.9 million and $2.4 million for the three months ended September 30, 2025 and 2024, respectively, and $8.7 million and $7.3 million for the nine months ended September 30, 2025 and 2024, respectively.

v3.25.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
 
The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of September 30, 2025 and December 31, 2024. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Derivative Instruments and Hedging Activities

The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative instruments to be reported on the condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of hedging relationships. The Company is exposed to market risk such as changes in foreign currencies and interest rates. The Company does not hold or issue derivative financial instruments for trading purposes.

The Company may periodically utilize derivative instruments such as foreign currency or interest rate swaps in the normal course of business to partially offset exposure. The related gains and losses are reported as a component of accumulated other comprehensive loss ("AOCL") in the condensed consolidated balance sheets.

The Company has two interest rate swap agreements outstanding as of September 30, 2025. The notional amount of the Company’s outstanding swap agreements is $260.1 million. The fair value of the Company’s derivative liabilities is $1.9 million as of September 30, 2025 compared to a derivative asset of $0.8 million as of December 31, 2024. In the condensed consolidated balance sheet, the fair value of the interest rate swaps is included in other long-term liabilities. The gains and losses are not material to the Company’s condensed consolidated financial statements for the periods presented.

v3.25.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2025:
(in thousands)Vegetation ManagementIndustrial EquipmentConsolidated
Balance at December 31, 2024$126,729 $76,298 $203,027 
Translation adjustment2,981 1,472 4,453 
Goodwill acquired— 6,949 6,949 
Balance at September 30, 2025$129,710 $84,719 $214,429 

The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands)
Estimated Useful Lives
September 30, 2025December 31, 2024
Definite:
Trade names and trademarks
15-25 years
$77,480 $72,040 
Customer and dealer relationships
8-15 years
140,517 137,086 
Patents and drawings
3-12 years
29,002 28,529 
Favorable leasehold interests
7 years
4,200 4,200 
Noncompetition agreements
5 years
200 200 
Total at cost251,399 242,055 
Less accumulated amortization(109,577)(96,195)
Total net141,822 145,860 
Indefinite:
Trade names and trademarks5,500 5,500 
Total Intangible Assets$147,322 $151,360 
The Company recognized amortization expense of $4.2 million and $4.1 million for the three months ended September 30, 2025 and 2024, respectively, and $12.3 million and $12.2 million for the nine months ended September 30, 2025 and 2024, respectively.

v3.25.3
Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases Leases
The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:
Components of Lease Cost
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Finance lease cost:
     Amortization of right-of-use assets$2 $2 $6 $6 
Operating lease cost1,894 1,859 5,721 5,323 
Short-term lease cost497 885 1,473 1,755 
Variable lease cost53 57 161 208 
Total lease cost$2,446 $2,803 $7,361 $7,292 
Maturities of operating lease liabilities were as follows:
Future Minimum Lease Payments
(in thousands)September 30, 2025December 31, 2024
2025$1,896 *$6,998 
20266,540 5,719 
20274,222 3,595 
20281,989 1,556 
20291,340 927 
Thereafter1,114 914 
Total minimum lease payments$17,101 $19,709 
Less imputed interest(1,158)(1,432)
Total operating lease liabilities$15,943 $18,277 
*Period ended September 30, 2025 represents the remaining three months of 2025.
Future Lease Commencements

As of September 30, 2025, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $5.9 million. These operating leases will commence in fiscal year 2025 and 2026 with lease terms of 1 to 7 years.

Supplemental balance sheet information related to leases was as follows:
Operating Leases
(in thousands)September 30, 2025December 31, 2024
Other non-current assets
$15,649 $18,099 
Accrued liabilities6,505 6,449 
Other long-term liabilities9,438 11,828 
    Total operating lease liabilities$15,943 $18,277 
Weighted Average Remaining Lease Term3.20 years3.49 years
Weighted Average Discount Rate4.62 %4.57 %

Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$5,196 $4,800 
Leases Leases
The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:
Components of Lease Cost
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Finance lease cost:
     Amortization of right-of-use assets$2 $2 $6 $6 
Operating lease cost1,894 1,859 5,721 5,323 
Short-term lease cost497 885 1,473 1,755 
Variable lease cost53 57 161 208 
Total lease cost$2,446 $2,803 $7,361 $7,292 
Maturities of operating lease liabilities were as follows:
Future Minimum Lease Payments
(in thousands)September 30, 2025December 31, 2024
2025$1,896 *$6,998 
20266,540 5,719 
20274,222 3,595 
20281,989 1,556 
20291,340 927 
Thereafter1,114 914 
Total minimum lease payments$17,101 $19,709 
Less imputed interest(1,158)(1,432)
Total operating lease liabilities$15,943 $18,277 
*Period ended September 30, 2025 represents the remaining three months of 2025.
Future Lease Commencements

As of September 30, 2025, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $5.9 million. These operating leases will commence in fiscal year 2025 and 2026 with lease terms of 1 to 7 years.

Supplemental balance sheet information related to leases was as follows:
Operating Leases
(in thousands)September 30, 2025December 31, 2024
Other non-current assets
$15,649 $18,099 
Accrued liabilities6,505 6,449 
Other long-term liabilities9,438 11,828 
    Total operating lease liabilities$15,943 $18,277 
Weighted Average Remaining Lease Term3.20 years3.49 years
Weighted Average Discount Rate4.62 %4.57 %

Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$5,196 $4,800 

v3.25.3
Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
The components of long-term debt are as follows:
 
(in thousands)		September 30, 2025December 31, 2024
Bank revolving credit facility$— $— 
Term debt209,430 220,475 
Finance lease obligations— 6 
Total debt209,430 220,481 
Less current maturities15,000 15,008 
Total long-term debt$194,430 $205,473 
As of September 30, 2025, $2.8 million of the revolver capacity was committed to irrevocable standby letters of credit issued in the ordinary course of business as required by vendors' contracts, resulting in $397.2 million in available borrowings.

v3.25.3
Common Stock and Dividends
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Common Stock and Dividends Common Stock and Dividends
 
Dividends declared and paid on a per share basis were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Dividends declared$0.30 $0.26 $0.90 $0.78 
Dividends paid$0.30 $0.26 $0.90 $0.78 

On October 1, 2025, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.30 per share, which was paid on October 28, 2025, to shareholders of record at the close of business on October 15, 2025.

v3.25.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share.  Net income for basic and diluted calculations do not differ.

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands, except per share)
2025202420252024
Net Income$25,383 $27,405 $88,289 $87,849 
Average Common Shares:
Basic (weighted-average outstanding shares)
12,029 11,977 12,013 11,965 
Dilutive potential common shares from stock options
65 64 62 70 
Diluted (weighted-average outstanding shares)
12,094 12,041 12,075 12,035 
Basic earnings per share$2.11 $2.29 $7.35 $7.34 
Diluted earnings per share$2.10 $2.28 $7.31 $7.30 

v3.25.3
Revenue and Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Revenue and Segment Information Revenue and Segment Information
Revenues from Contracts with Customers

Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
Wholegoods
$331,615 $307,401 $983,850 $979,099 
Parts
75,677 75,525 200,097 216,605 
Other
12,750 18,375 46,118 47,486 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 

Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.

Revenue by Geographical Location
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
United States
$298,482 $292,242 $881,302 $881,231 
Canada
41,055 32,448 112,977 102,126 
France
20,028 17,894 63,990 67,259 
United Kingdom
22,858 21,355 65,559 65,733 
Brazil
8,060 8,225 27,952 31,749 
Netherlands5,096 7,798 16,058 28,994 
Australia
4,169 5,330 13,120 16,889 
Germany2,275 1,688 5,777 6,864 
Other
18,019 14,321 43,330 42,345 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 

Net sales are attributed to countries based on the location of the customer.

Segment Information

The Company’s Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM is responsible for evaluating the performance of the Company’s operating segments. This evaluation of operating segments supports the allocation of resources, both financial and human, to optimize income from operations as the measure of segment profit and loss.

Our reportable segments are our two Divisions: Vegetation Management and Industrial Equipment.

The CODM focuses heavily on operating performance and reviews mainly non-GAAP measures, such as bookings and backlog, absorption, and headcount. The CODM does not utilize asset metrics to evaluate the segment performance. The GAAP measures used are:

•Division Net Sales
•Division Cost of Sales
•Division Operating Expenses
•Division Income from Operations
The following includes a summary of the unaudited financial information by reporting segment at September 30, 2025:  

Three Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$173,059 $246,983 $420,042 
Less:
Cost of Sales(134,584)(183,775)(318,359)
Operating Expenses(30,997)(33,144)(64,141)
Income from Operations7,478 30,064 37,542 
Interest Income1,522 
Other Income (Expense)(210)
Interest Expense(3,897)
Income Before Taxes34,957 
Taxes  9,574 
Net Income$25,383 


Three Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$190,115 $211,186 $401,301 
Less:
Cost of Sales(143,578)(156,836)(300,414)
Operating Expenses(34,133)(26,675)(60,808)
Income from Operations12,404 27,675 40,079 
Interest Income562 
Other Income (Expense)(32)
Interest Expense(4,886)
Income Before Taxes35,723 
Taxes  8,318 
Net Income$27,405 
Nine Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$515,307 $714,758 $1,230,065 
Less:
Cost of Sales(390,290)(526,959)(917,249)
Operating Expenses(91,476)(92,258)(183,734)
Income from Operations33,541 95,541 129,082 
Interest Income3,955 
Other Income (Expense)(4,056)
Interest Expense(10,775)
Income Before Taxes118,206 
Taxes  29,917 
Net Income$88,289 

Nine Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$625,397 $617,793 $1,243,190 
Less:
Cost of Sales(466,044)(456,446)(922,490)
Operating Expenses(109,264)(81,069)(190,333)
Income from Operations50,089 80,278 130,367 
Interest Income1,877 
Other Income (Expense)1 
Interest Expense(17,075)
Income Before Taxes115,170 
Taxes  27,321 
Net Income$87,849 


(in thousands)
September 30, 2025December 31, 2024
Goodwill
Vegetation Management
$129,710 $126,729 
Industrial Equipment
84,719 76,298 
Consolidated$214,429 $203,027 
Total Identifiable Assets
Vegetation Management
$920,007 $852,007 
Industrial Equipment
674,972 598,272 
Consolidated$1,594,979 $1,450,279 

v3.25.3
Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss by component, net of tax, were as follows:
Three Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(41,949)$(989)$(1,483)$(44,421)$(64,566)$(1,502)$(87)$(66,155)
Other comprehensive income (loss) before reclassifications(7,328)— (286)(7,614)13,825 — (3,198)10,627 
Amounts reclassified from accumulated other comprehensive loss— 200 265 465 — 235 383 618 
Other comprehensive income (loss)(7,328)200 (21)(7,149)13,825 235 (2,815)11,245 
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)
Nine Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(80,832)$(1,390)$627 $(81,595)$(51,785)$(1,972)$(760)$(54,517)
Other comprehensive income (loss) before reclassifications31,555 — (2,929)28,626 1,044 — (2,712)(1,668)
Amounts reclassified from accumulated other comprehensive loss— 601 798 1,399 — 705 570 1,275 
Other comprehensive income (loss)31,555 601 (2,131)30,025 1,044 705 (2,142)(393)
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)

v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false

v3.25.3
Basis of Financial Statement Presentation (Policies)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
General
General

The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2025.  The balance sheet at December 31, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2024 (the "2024 10-K").
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. This ASU will result in the required additional disclosures being included in our consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Expense Disaggregation Disclosures (Subtopic 220-40). The ASU requires disaggregated Income Statement Expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is also permitted. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.
Fair Value Measurements Fair Value Measurements
 
The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of September 30, 2025 and December 31, 2024. This conclusion was made based on Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities

The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative instruments to be reported on the condensed consolidated balance sheets at fair value and establishes criteria for designation and effectiveness of hedging relationships. The Company is exposed to market risk such as changes in foreign currencies and interest rates. The Company does not hold or issue derivative financial instruments for trading purposes.

The Company may periodically utilize derivative instruments such as foreign currency or interest rate swaps in the normal course of business to partially offset exposure. The related gains and losses are reported as a component of accumulated other comprehensive loss ("AOCL") in the condensed consolidated balance sheets.

v3.25.3
Inventories (Tables)
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Net Inventories Net inventories consist of the following:
(in thousands)
September 30, 2025December 31, 2024
Finished goods$347,543 $317,169 
Work in process22,838 21,310 
Raw materials7,785 4,884 
Inventories, net$378,166 $343,363 

v3.25.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes to Company's Goodwill
The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2025:
(in thousands)Vegetation ManagementIndustrial EquipmentConsolidated
Balance at December 31, 2024$126,729 $76,298 $203,027 
Translation adjustment2,981 1,472 4,453 
Goodwill acquired— 6,949 6,949 
Balance at September 30, 2025$129,710 $84,719 $214,429 
Schedule of Definite-Lived Intangible Assets
The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands)
Estimated Useful Lives
September 30, 2025December 31, 2024
Definite:
Trade names and trademarks
15-25 years
$77,480 $72,040 
Customer and dealer relationships
8-15 years
140,517 137,086 
Patents and drawings
3-12 years
29,002 28,529 
Favorable leasehold interests
7 years
4,200 4,200 
Noncompetition agreements
5 years
200 200 
Total at cost251,399 242,055 
Less accumulated amortization(109,577)(96,195)
Total net141,822 145,860 
Indefinite:
Trade names and trademarks5,500 5,500 
Total Intangible Assets$147,322 $151,360 
Schedule of Indefinite-Lived Intangible Assets
The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands)
Estimated Useful Lives
September 30, 2025December 31, 2024
Definite:
Trade names and trademarks
15-25 years
$77,480 $72,040 
Customer and dealer relationships
8-15 years
140,517 137,086 
Patents and drawings
3-12 years
29,002 28,529 
Favorable leasehold interests
7 years
4,200 4,200 
Noncompetition agreements
5 years
200 200 
Total at cost251,399 242,055 
Less accumulated amortization(109,577)(96,195)
Total net141,822 145,860 
Indefinite:
Trade names and trademarks5,500 5,500 
Total Intangible Assets$147,322 $151,360 

v3.25.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Components of Lease Cost The components of lease cost were as follows:
Components of Lease Cost
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Finance lease cost:
     Amortization of right-of-use assets$2 $2 $6 $6 
Operating lease cost1,894 1,859 5,721 5,323 
Short-term lease cost497 885 1,473 1,755 
Variable lease cost53 57 161 208 
Total lease cost$2,446 $2,803 $7,361 $7,292 
Schedule of Maturities of Operating Lease Liabilities
Maturities of operating lease liabilities were as follows:
Future Minimum Lease Payments
(in thousands)September 30, 2025December 31, 2024
2025$1,896 *$6,998 
20266,540 5,719 
20274,222 3,595 
20281,989 1,556 
20291,340 927 
Thereafter1,114 914 
Total minimum lease payments$17,101 $19,709 
Less imputed interest(1,158)(1,432)
Total operating lease liabilities$15,943 $18,277 
*Period ended September 30, 2025 represents the remaining three months of 2025.
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:
Operating Leases
(in thousands)September 30, 2025December 31, 2024
Other non-current assets
$15,649 $18,099 
Accrued liabilities6,505 6,449 
Other long-term liabilities9,438 11,828 
    Total operating lease liabilities$15,943 $18,277 
Weighted Average Remaining Lease Term3.20 years3.49 years
Weighted Average Discount Rate4.62 %4.57 %
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases was as follows:
Nine Months Ended
September 30,
(in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$5,196 $4,800 

v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt
The components of long-term debt are as follows:
 
(in thousands)		September 30, 2025December 31, 2024
Bank revolving credit facility$— $— 
Term debt209,430 220,475 
Finance lease obligations— 6 
Total debt209,430 220,481 
Less current maturities15,000 15,008 
Total long-term debt$194,430 $205,473 

v3.25.3
Common Stock and Dividends (Tables)
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Dividends Declared and Paid on Per Share Basis Dividends declared and paid on a per share basis were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Dividends declared$0.30 $0.26 $0.90 $0.78 
Dividends paid$0.30 $0.26 $0.90 $0.78 

v3.25.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Reconciliation from Basic to Diluted Average Common Shares
The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share.  Net income for basic and diluted calculations do not differ.

Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands, except per share)
2025202420252024
Net Income$25,383 $27,405 $88,289 $87,849 
Average Common Shares:
Basic (weighted-average outstanding shares)
12,029 11,977 12,013 11,965 
Dilutive potential common shares from stock options
65 64 62 70 
Diluted (weighted-average outstanding shares)
12,094 12,041 12,075 12,035 
Basic earnings per share$2.11 $2.29 $7.35 $7.34 
Diluted earnings per share$2.10 $2.28 $7.31 $7.30 

v3.25.3
Revenue and Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Disaggregation of Revenue
Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
Wholegoods
$331,615 $307,401 $983,850 $979,099 
Parts
75,677 75,525 200,097 216,605 
Other
12,750 18,375 46,118 47,486 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 

Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.

Revenue by Geographical Location
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Net Sales
United States
$298,482 $292,242 $881,302 $881,231 
Canada
41,055 32,448 112,977 102,126 
France
20,028 17,894 63,990 67,259 
United Kingdom
22,858 21,355 65,559 65,733 
Brazil
8,060 8,225 27,952 31,749 
Netherlands5,096 7,798 16,058 28,994 
Australia
4,169 5,330 13,120 16,889 
Germany2,275 1,688 5,777 6,864 
Other
18,019 14,321 43,330 42,345 
Consolidated$420,042 $401,301 $1,230,065 $1,243,190 
Schedule of Unaudited Financial Information by Reporting Segment
The following includes a summary of the unaudited financial information by reporting segment at September 30, 2025:  

Three Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$173,059 $246,983 $420,042 
Less:
Cost of Sales(134,584)(183,775)(318,359)
Operating Expenses(30,997)(33,144)(64,141)
Income from Operations7,478 30,064 37,542 
Interest Income1,522 
Other Income (Expense)(210)
Interest Expense(3,897)
Income Before Taxes34,957 
Taxes  9,574 
Net Income$25,383 


Three Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$190,115 $211,186 $401,301 
Less:
Cost of Sales(143,578)(156,836)(300,414)
Operating Expenses(34,133)(26,675)(60,808)
Income from Operations12,404 27,675 40,079 
Interest Income562 
Other Income (Expense)(32)
Interest Expense(4,886)
Income Before Taxes35,723 
Taxes  8,318 
Net Income$27,405 
Nine Months Ended September 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$515,307 $714,758 $1,230,065 
Less:
Cost of Sales(390,290)(526,959)(917,249)
Operating Expenses(91,476)(92,258)(183,734)
Income from Operations33,541 95,541 129,082 
Interest Income3,955 
Other Income (Expense)(4,056)
Interest Expense(10,775)
Income Before Taxes118,206 
Taxes  29,917 
Net Income$88,289 

Nine Months Ended September 30, 2024
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$625,397 $617,793 $1,243,190 
Less:
Cost of Sales(466,044)(456,446)(922,490)
Operating Expenses(109,264)(81,069)(190,333)
Income from Operations50,089 80,278 130,367 
Interest Income1,877 
Other Income (Expense)1 
Interest Expense(17,075)
Income Before Taxes115,170 
Taxes  27,321 
Net Income$87,849 
Schedule of Goodwill and Total Identifiable Assets by Reporting Segment
(in thousands)
September 30, 2025December 31, 2024
Goodwill
Vegetation Management
$129,710 $126,729 
Industrial Equipment
84,719 76,298 
Consolidated$214,429 $203,027 
Total Identifiable Assets
Vegetation Management
$920,007 $852,007 
Industrial Equipment
674,972 598,272 
Consolidated$1,594,979 $1,450,279 

v3.25.3
Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss by component, net of tax, were as follows:
Three Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(41,949)$(989)$(1,483)$(44,421)$(64,566)$(1,502)$(87)$(66,155)
Other comprehensive income (loss) before reclassifications(7,328)— (286)(7,614)13,825 — (3,198)10,627 
Amounts reclassified from accumulated other comprehensive loss— 200 265 465 — 235 383 618 
Other comprehensive income (loss)(7,328)200 (21)(7,149)13,825 235 (2,815)11,245 
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)
Nine Months Ended September 30,
20252024
(in thousands)Foreign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotalForeign Currency Translation AdjustmentDefined Benefit Plans ItemsGains (Losses) on Cash Flow HedgesTotal
Balance as of beginning of period$(80,832)$(1,390)$627 $(81,595)$(51,785)$(1,972)$(760)$(54,517)
Other comprehensive income (loss) before reclassifications31,555 — (2,929)28,626 1,044 — (2,712)(1,668)
Amounts reclassified from accumulated other comprehensive loss— 601 798 1,399 — 705 570 1,275 
Other comprehensive income (loss)31,555 601 (2,131)30,025 1,044 705 (2,142)(393)
Balance as of end of period$(49,277)$(789)$(1,504)$(51,570)$(50,741)$(1,267)$(2,902)$(54,910)

v3.25.3
Business Combinations (Details) - Ring-O-Matic, LLC
$ in Millions
Jun. 30, 2025
USD ($)
Business Combination [Line Items]  
Percentage of outstanding membership interests acquired 100.00%
Acquisition price $ 17.6

v3.25.3
Accounts Receivable (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Reserves for Sales Discounts    
Valuation and Qualifying Accounts Disclosure [Line Items]    
Reserves for sales discounts on products shipped under promotional programs $ 10.6 $ 14.2

v3.25.3
Inventories - Schedule of Net Inventories (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Finished goods $ 347,543 $ 317,169
Work in process 22,838 21,310
Raw materials 7,785 4,884
Inventories, net $ 378,166 $ 343,363

v3.25.3
Inventories - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Inventory obsolescence reserves $ 11.6 $ 8.3

v3.25.3
Rental Equipment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Property, Plant and Equipment [Line Items]          
Accumulated depreciation $ 215,008   $ 215,008   $ 207,276
Depreciation expense     20,144 $ 20,027  
Rental Equipment          
Property, Plant and Equipment [Line Items]          
Accumulated depreciation 23,700   23,700   $ 25,000
Depreciation expense $ 2,900 $ 2,400 $ 8,700 $ 7,300  

v3.25.3
Fair Value Measurements (Details) - Interest Rate Swap
$ in Millions
Sep. 30, 2025
USD ($)
agreement
Dec. 31, 2024
USD ($)
Derivatives, Fair Value [Line Items]    
Number of interest rate swap agreements outstanding | agreement 2  
Notional amount of outstanding swap agreements $ 260.1  
Derivative liability $ 1.9  
Derivative asset   $ 0.8

v3.25.3
Goodwill and Intangible Assets - Schedule of Changes to Company's Goodwill (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 203,027
Translation adjustment 4,453
Goodwill acquired 6,949
Ending balance 214,429
Vegetation Management  
Goodwill [Roll Forward]  
Beginning balance 126,729
Translation adjustment 2,981
Goodwill acquired 0
Ending balance 129,710
Industrial Equipment  
Goodwill [Roll Forward]  
Beginning balance 76,298
Translation adjustment 1,472
Goodwill acquired 6,949
Ending balance $ 84,719

v3.25.3
Goodwill and Intangible Assets - Schedule of Definite and Indefinite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Total at cost $ 251,399 $ 242,055
Less accumulated amortization (109,577) (96,195)
Total net 141,822 145,860
Total Intangible Assets 147,322 151,360
Trade names and trademarks    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Trade names and trademarks 5,500 5,500
Trade names and trademarks    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Total at cost 77,480 72,040
Customer and dealer relationships    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Total at cost 140,517 137,086
Patents and drawings    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Total at cost $ 29,002 28,529
Favorable leasehold interests    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 7 years  
Total at cost $ 4,200 4,200
Noncompetition agreements    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 5 years  
Total at cost $ 200 $ 200
Minimum | Trade names and trademarks    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 15 years  
Minimum | Customer and dealer relationships    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 8 years  
Minimum | Patents and drawings    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 3 years  
Maximum | Trade names and trademarks    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 25 years  
Maximum | Customer and dealer relationships    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 15 years  
Maximum | Patents and drawings    
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]    
Estimated Useful Lives 12 years  

v3.25.3
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization expense $ 4,210 $ 4,061 $ 12,337 $ 12,175

v3.25.3
Leases - Schedule of Components of Lease Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Finance lease cost:        
Amortization of right-of-use assets $ 2 $ 2 $ 6 $ 6
Operating lease cost 1,894 1,859 5,721 5,323
Short-term lease cost 497 885 1,473 1,755
Variable lease cost 53 57 161 208
Total lease cost $ 2,446 $ 2,803 $ 7,361 $ 7,292

v3.25.3
Leases - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Future Minimum Lease Payments    
Remainder of fiscal year $ 1,896  
Year one 6,540 $ 6,998
Year two 4,222 5,719
Year three 1,989 3,595
Year four 1,340 1,556
Year five   927
Thereafter 1,114  
Thereafter   914
Total minimum lease payments 17,101 19,709
Less imputed interest (1,158) (1,432)
Total operating lease liabilities $ 15,943 $ 18,277

v3.25.3
Leases - Additional Information (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]  
Additional operating lease not yet commenced $ 5.9
Minimum  
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]  
Additional operating lease not yet commenced, lease term (in years) 1 year
Maximum  
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]  
Additional operating lease not yet commenced, lease term (in years) 7 years

v3.25.3
Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Operating Leases    
Other non-current assets $ 15,649 $ 18,099
Operating lease, right-of-use asset, Statement of financial position [Extensible Enumeration] Other non-current assets Other non-current assets
Accrued liabilities $ 6,505 $ 6,449
Operating lease, liability, current, statement of financial position [Extensible Enumeration] Accrued liabilities Accrued liabilities
Other long-term liabilities $ 9,438 $ 11,828
Operating lease, liability, noncurrent, statement of financial position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Total operating lease liabilities $ 15,943 $ 18,277
Weighted Average Remaining Lease Term (in years) 3 years 2 months 12 days 3 years 5 months 26 days
Weighted Average Discount Rate (as percent) 4.62% 4.57%

v3.25.3
Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases $ 5,196 $ 4,800

v3.25.3
Debt - Schedule of Components of Long-Term Debt (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Finance lease obligations $ 0 $ 6
Total debt 209,430 220,481
Less current maturities 15,000 15,008
Total long-term debt 194,430 205,473
Term debt    
Debt Instrument [Line Items]    
Long-term debt 209,430 220,475
Line of Credit | Bank revolving credit facility    
Debt Instrument [Line Items]    
Long-term debt $ 0 $ 0

v3.25.3
Debt - Additional Information (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Standby Letters of Credit  
Debt Instrument [Line Items]  
Amount of capacity $ 2.8
Revolving Line of Credit  
Debt Instrument [Line Items]  
Available borrowings $ 397.2

v3.25.3
Common Stock and Dividends - Schedule of Dividend Declared and Paid on Per Share Basis (Details) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Stockholders' Equity Note [Abstract]                
Dividends declared (in dollars per share) $ 0.30     $ 0.26     $ 0.90 $ 0.78
Dividends paid (in dollars per share) $ 0.3 $ 0.3 $ 0.3 $ 0.26 $ 0.26 $ 0.26 $ 0.90 $ 0.78

v3.25.3
Common Stock and Dividends - Additional Information (Details) - $ / shares
 3 Months Ended 9 Months Ended
Oct. 28, 2025
Oct. 01, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Class of Stock [Line Items]                    
Dividends declared (in dollars per share)     $ 0.30     $ 0.26     $ 0.90 $ 0.78
Dividends paid (in dollars per share)     $ 0.3 $ 0.3 $ 0.3 $ 0.26 $ 0.26 $ 0.26 $ 0.90 $ 0.78
Subsequent Event                    
Class of Stock [Line Items]                    
Dividends declared (in dollars per share)   $ 0.3                
Dividends paid (in dollars per share) $ 0.3                  

v3.25.3
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Net income $ 25,383 $ 27,405 $ 88,289 $ 87,849
Average Common Shares:        
Basic (weighted-average outstanding shares) (in shares) 12,029 11,977 12,013 11,965
Dilutive potential common shares from stock options (in shares) 65 64 62 70
Diluted (weighted-average outstanding shares) (in shares) 12,094 12,041 12,075 12,035
Basic earnings per share (in dollars per share) $ 2.11 $ 2.29 $ 7.35 $ 7.34
Diluted earnings per share (in dollars per share) $ 2.10 $ 2.28 $ 7.31 $ 7.30

v3.25.3
Revenue and Segment Information - Schedule of Disaggregation of Revenue by Product Type (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Net Sales $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190
Wholegoods        
Disaggregation of Revenue [Line Items]        
Net Sales 331,615 307,401 983,850 979,099
Parts        
Disaggregation of Revenue [Line Items]        
Net Sales 75,677 75,525 200,097 216,605
Other        
Disaggregation of Revenue [Line Items]        
Net Sales $ 12,750 $ 18,375 $ 46,118 $ 47,486

v3.25.3
Revenue and Segment Information - Schedule of Disaggregation of Revenue by Geographical Location (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Net Sales $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190
United States        
Disaggregation of Revenue [Line Items]        
Net Sales 298,482 292,242 881,302 881,231
Canada        
Disaggregation of Revenue [Line Items]        
Net Sales 41,055 32,448 112,977 102,126
France        
Disaggregation of Revenue [Line Items]        
Net Sales 20,028 17,894 63,990 67,259
United Kingdom        
Disaggregation of Revenue [Line Items]        
Net Sales 22,858 21,355 65,559 65,733
Brazil        
Disaggregation of Revenue [Line Items]        
Net Sales 8,060 8,225 27,952 31,749
Netherlands        
Disaggregation of Revenue [Line Items]        
Net Sales 5,096 7,798 16,058 28,994
Australia        
Disaggregation of Revenue [Line Items]        
Net Sales 4,169 5,330 13,120 16,889
Germany        
Disaggregation of Revenue [Line Items]        
Net Sales 2,275 1,688 5,777 6,864
Other        
Disaggregation of Revenue [Line Items]        
Net Sales $ 18,019 $ 14,321 $ 43,330 $ 42,345

v3.25.3
Revenue and Segment Information - Additional Information (Details)
 9 Months Ended
Sep. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 2

v3.25.3
Revenue and Segment Information - Schedule of Unaudited Financial Information by Reporting Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Net Sales $ 420,042 $ 401,301 $ 1,230,065 $ 1,243,190
Cost of Sales (318,359) (300,414) (917,249) (922,490)
Operating Expenses (64,141) (60,808) (183,734) (190,333)
Income from operations 37,542 40,079 129,082 130,367
Interest Income 1,522 562 3,955 1,877
Other Income (Expense) (210) (32) (4,056) 1
Interest Expense (3,897) (4,886) (10,775) (17,075)
Income before income taxes 34,957 35,723 118,206 115,170
Taxes 9,574 8,318 29,917 27,321
Net Income 25,383 27,405 88,289 87,849
Vegetation Management        
Segment Reporting Information [Line Items]        
Net Sales 173,059 190,115 515,307 625,397
Cost of Sales (134,584) (143,578) (390,290) (466,044)
Operating Expenses (30,997) (34,133) (91,476) (109,264)
Income from operations 7,478 12,404 33,541 50,089
Industrial Equipment        
Segment Reporting Information [Line Items]        
Net Sales 246,983 211,186 714,758 617,793
Cost of Sales (183,775) (156,836) (526,959) (456,446)
Operating Expenses (33,144) (26,675) (92,258) (81,069)
Income from operations $ 30,064 $ 27,675 $ 95,541 $ 80,278

v3.25.3
Revenue and Segment Information - Schedule of Goodwill and Total Identifiable Assets by Reporting Segment (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Segment Reporting Information [Line Items]    
Goodwill $ 214,429 $ 203,027
Identifiable Assets 1,594,979 1,450,279
Vegetation Management    
Segment Reporting Information [Line Items]    
Goodwill 129,710 126,729
Identifiable Assets 920,007 852,007
Industrial Equipment    
Segment Reporting Information [Line Items]    
Goodwill 84,719 76,298
Identifiable Assets $ 674,972 $ 598,272

v3.25.3
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ 1,115,396 $ 979,716 $ 1,018,254 $ 932,763
Other comprehensive income (loss) before reclassifications (7,614) 10,627 28,626 (1,668)
Amounts reclassified from accumulated other comprehensive loss 465 618 1,399 1,275
Other comprehensive income (loss), net of tax (7,149) 11,245 30,025 (393)
Ending balance 1,132,606 1,017,720 1,132,606 1,017,720
Total        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (44,421) (66,155) (81,595) (54,517)
Ending balance (51,570) (54,910) (51,570) (54,910)
Foreign Currency Translation Adjustment        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (41,949) (64,566) (80,832) (51,785)
Other comprehensive income (loss) before reclassifications (7,328) 13,825 31,555 1,044
Amounts reclassified from accumulated other comprehensive loss 0 0 0 0
Other comprehensive income (loss), net of tax (7,328) 13,825 31,555 1,044
Ending balance (49,277) (50,741) (49,277) (50,741)
Defined Benefit Plans Items        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (989) (1,502) (1,390) (1,972)
Other comprehensive income (loss) before reclassifications 0 0 0 0
Amounts reclassified from accumulated other comprehensive loss 200 235 601 705
Other comprehensive income (loss), net of tax 200 235 601 705
Ending balance (789) (1,267) (789) (1,267)
Gains (Losses) on Cash Flow Hedges        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance (1,483) (87) 627 (760)
Other comprehensive income (loss) before reclassifications (286) (3,198) (2,929) (2,712)
Amounts reclassified from accumulated other comprehensive loss 265 383 798 570
Other comprehensive income (loss), net of tax (21) (2,815) (2,131) (2,142)
Ending balance $ (1,504) $ (2,902) $ (1,504) $ (2,902) 

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