ALAMO GROUP INC

Alamo Group Inc. entered into a Fourth Amended and Restated Credit Agreement for up to $602.5 million with Bank of America, N.A. The agreement includes a $202.5 million term facility and a $400 million revolving facility, both maturing on May 27, 2031. The term facility requires quarterly principal payments of $1,265,625. Borrowings bear interest at base or Term SOFR rates plus an applicable margin, and the company must adhere to financial covenants including leverage and fixed charge coverage ratios.

Alamo Group Inc. announced that Richard H. Raborn, Executive Vice President of the Vegetation Management Division, will retire from the company on May 29, 2026. A separation agreement was entered into, entitling Mr. Raborn to certain payments and benefits, including an amount equal to his current base salary of $536,000, payable over the twelve-month period following his last day of employment. The company stated that Mr. Raborn's separation is not due to any disagreements regarding its operations, financial reporting, or accounting practices.

Alamo Group reported Q1 2026 net sales of $417.1 million, a 7% increase year-over-year, driven by recent acquisitions and modest improvements in agricultural markets. However, net income decreased by 8% to $29.2 million, and diluted EPS fell to $2.41, primarily due to operational inefficiencies in the Vegetation Management Division and higher interest expense. The company completed the acquisition of Petersen Industries for $166.5 million in January 2026, which contributed to the Industrial Equipment Division's growth.

Alamo Group Inc. reported first-quarter 2026 financial results with net sales increasing 6.7% to $417.1 million. Net income decreased to $29.2 million, or $2.41 per diluted share, compared to $31.8 million, or $2.64 per diluted share, in Q1 2025. The company successfully closed the Petersen acquisition and is working on synergy realization, while also reporting strong liquidity despite negative operating cash flow for the quarter. Adjusted EBITDA increased by 1.8% to $59.3 million.