SEGUIN, Texas (AP) 鈥� SEGUIN, Texas (AP) 鈥� Alamo Group Inc. (ALG) on Monday reported first-quarter earnings of $29.2 million.
On a per-share basis, the Seguin, Texas-based company said it had net income of $2.41. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $2.56 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The maker of road maintenance, industrial and farm equipment posted revenue of $417.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $395.3 million.
Alamo Group shares have increased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $168.55, a drop of 3% in the last 12 months.
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