--- title: "Alamo | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 373.65 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/277520877.md" datetime: "2026-03-02T21:29:27.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/277520877.md) - [en](https://longbridge.com/en/news/277520877.md) - [zh-HK](https://longbridge.com/zh-HK/news/277520877.md) --- # Alamo | 8-K: FY2025 Q4 Revenue Misses Estimate at USD 373.65 M Revenue: As of FY2025 Q4, the actual value is USD 373.65 M, missing the estimate of USD 405.18 M. EPS: As of FY2025 Q4, the actual value is USD 1.28, missing the estimate of USD 2.295. EBIT: As of FY2025 Q4, the actual value is USD 25.02 M. ### Fourth Quarter 2025 Financial Highlights #### Net Income Alamo Group Inc. reported a net income of $15,512 thousand for Q4 2025, a decrease from $28,081 thousand in Q4 2024. Adjusted net income for Q4 2025 was $20,569 thousand, compared to $28,857 thousand in Q4 2024. #### Gross Margin Gross margin for Q4 2025 was $85,001 thousand, down from $91,788 thousand in Q4 2024. The gross margin percentage was 22.7% in Q4 2025, a decrease from 23.8% in Q4 2024. #### Operating Profit Income from operations in Q4 2025 was $22,531 thousand, a decline from $34,441 thousand in Q4 2024. The operating margin was 6.0% in Q4 2025, compared to 8.9% in Q4 2024. Adjusted operating income was $31,501 thousand in Q4 2025, down from $35,443 thousand in Q4 2024, with an adjusted operating income percentage of 8.4% in Q4 2025 versus 9.2% in Q4 2024. #### Operating Costs Cost of sales decreased to $288,649 thousand in Q4 2025 from $293,535 thousand in Q4 2024. Selling, general and administration expense increased to $58,260 thousand in Q4 2025 from $53,295 thousand in Q4 2024. Amortization expense was $4,210 thousand in Q4 2025, slightly up from $4,052 thousand in Q4 2024. #### Adjusted EBITDA Adjusted EBITDA for Q4 2025 was $44,762 thousand, a decrease from $51,798 thousand in Q4 2024. The adjusted EBITDA as a percentage of net sales was 12.0% in Q4 2025, down from 13.4% in Q4 2024. #### Segment Performance - Fourth Quarter - **Industrial Equipment Division:** Net sales increased by 4.2% to $234,904 thousand in Q4 2025 from $225,521 thousand in Q4 2024. Adjusted EBITDA for this division rose to $41,542 thousand (17.7% of net sales) in Q4 2025, compared to $35,480 thousand (15.7% of net sales) in Q4 2024. Adjusted operating income was $35,044 thousand (14.9% of sales) in Q4 2025, up from $27,973 thousand (12.4% of sales) in Q4 2024. - **Vegetation Management Division:** Net sales decreased by 13.2% to $138,746 thousand in Q4 2025 from $159,802 thousand in Q4 2024. Adjusted EBITDA for this division decreased significantly to $3,220 thousand (2.3% of net sales) in Q4 2025, from $16,318 thousand (10.2% of net sales) in Q4 2024. Adjusted operating income was - $3,543 thousand (-2.6% of sales) in Q4 2025, down from $7,470 thousand (4.7% of sales) in Q4 2024. ### Full Year 2025 Financial Highlights #### Net Income Alamo Group Inc. reported a net income of $103,801 thousand for the full year 2025, down from $115,930 thousand in 2024. Adjusted net income for the full year 2025 was $113,230 thousand, compared to $121,911 thousand in 2024. #### Gross Margin Gross margin for the full year 2025 was $397,817 thousand, a decrease from $412,488 thousand in 2024. The gross margin percentage was 24.8% in 2025, down from 25.3% in 2024. #### Operating Profit Income from operations for the full year 2025 was $151,613 thousand, a decrease from $164,808 thousand in 2024. The operating margin was 9.5% in 2025, compared to 10.1% in 2024. Adjusted operating income was $166,459 thousand in 2025, down from $172,592 thousand in 2024, with an adjusted operating income percentage of 10.4% in 2025 versus 10.6% in 2024. #### Operating Costs Cost of sales for the full year 2025 was $1,205,898 thousand, down from $1,216,025 thousand in 2024. Selling, general and administration expense was $229,657 thousand in 2025, compared to $231,453 thousand in 2024. Amortization expense was $16,547 thousand in 2025, up from $16,227 thousand in 2024. #### Cash Flow Operating cash flow for the full year 2025 was $177,543 thousand, resulting in a 171% conversion of net income to cash. This is a decrease from $209,778 thousand in 2024. #### Adjusted EBITDA Adjusted EBITDA for the full year 2025 was $216,864 thousand, down from $228,407 thousand in 2024. The adjusted EBITDA as a percentage of net sales was 13.5% in 2025, compared to 14.0% in 2024. #### Debt and Cash Position As of December 31, 2025, total debt was $205,748 thousand, and total cash was $309,659 thousand, indicating $103,911 thousand in excess of debt. This compares to total debt of $220,481 thousand and total cash of $197,274 thousand at December 31, 2024, resulting in a net change of $127,118 thousand in Total Debt Net of Cash. #### Dividends Alamo Group Inc. increased its quarterly dividend from $0.30 to $0.34 per share, a 13.3% increase. Dividends paid for the full year 2025 were $14,415 thousand, up from $12,442 thousand in 2024. #### Segment Performance - Full Year - **Industrial Equipment Division:** Net sales increased by 12.6% to $949,662 thousand in 2025 from $843,314 thousand in 2024. Adjusted EBITDA for this division rose to $157,466 thousand (16.6% of net sales) in 2025, compared to $136,111 thousand (16.1% of net sales) in 2024. Adjusted operating income was $132,640 thousand (14.0% of sales) in 2025, up from $111,807 thousand (13.3% of sales) in 2024. - **Vegetation Management Division:** Net sales decreased by 16.7% to $654,053 thousand in 2025 from $785,199 thousand in 2024. Adjusted EBITDA for this division decreased to $59,398 thousand (9.1% of net sales) in 2025, from $92,296 thousand (11.8% of net sales) in 2024. Adjusted operating income was $33,819 thousand (5.2% of sales) in 2025, down from $60,785 thousand (7.7% of sales) in 2024. ### Outlook / Guidance Alamo Group Inc. is positioning for long-term growth by restructuring manufacturing facilities, reshaping organizational structure, and accelerating M&A activities, as exemplified by the acquisition of Petersen Industries. The company’s strong cash generation and solid balance sheet are expected to support investments and future acquisitions. 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