Earnings release
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For: Alamo Group Inc. Contact: Kevin Carter VP Finance, Strategy, and Investor Relations 830-372-9544 Financial Relations Board Joe Calabrese 212-827-3772 ALAMO GROUP ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER 2026 AND STRENGTHENS ITS INDUSTRIAL PORTFOLIO SEGUIN, Texas, November 2, 2026 -- Alamo Group Inc. (NYSE: ALG) today reported results for the third quarter of 2026. Highlights: ▪ On October 27, 2026, the Company acquired Econ Engineering Group Limited (“Econ”), a leading U.K. manufacturer of roadway maintenance vocational trucks, for £120.0 million ($158.7 million), plus customary closing adjustments. With this acquisition, Alamo Group expands its industrial portfolio of market-leading businesses serving essential infrastructure and maintenance applications. ▪ During the third quarter of 2026, the Company substantially completed the planned portfolio optimization initiatives aimed at improving its long-term margin profile, particularly within the Vegetation Management Division. These actions included the sale and the wind-down of certain businesses and product lines, including Dixie Chopper® and Boxer®, as previously announced, and resulted in $33.3 million of net pre-tax charges in the quarter. ▪ Net sales were $403.1 million, down 4.0% compared to the third quarter of 2025. ▪ Net income was $2.0 million and adjusted net income was $24.9 million. ▪ Diluted EPS was $0.17 and adjusted diluted EPS was $2.06. ▪ Adjusted EBITDA of $52.4 million was 13.0% of net sales. ▪ On September 30, 2026, cash was $230.7 million and total debt was $232.3 million. ▪ Net cash provided by operating activities in the last twelve months ("LTM") was $158.3 million or 204% of Net Income for the same LTM period. Robert Hureau, Alamo Group’s President and Chief Executive Officer, commented, “A key focus of our strategy is to continue strengthening the quality of our portfolio and improving the margin profile of our businesses. We have taken two important steps to advance that strategy: completing our planned portfolio optimization activities, particularly within our Vegetation Management Division, and acquiring Econ, further enhancing our Industrial portfolio of market-leading vocational truck brands and products. These actions sharpen our strategic focus and position Alamo Group for improved profitability and long-term value creation.”
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Page 2 Third Quarter Results Net sales for the third quarter of 2026 were $403.1 million, a decrease of 4.0% compared to $420.0 million for the third quarter of 2025. Net income was $2.0 million, or $0.17 per diluted share, compared to $25.4 million, or $2.10 per diluted share, for the third quarter of 2025. The Company also reported adjusted net income of $24.9 million, or $2.06 per diluted share, for the third quarter of 2026 compared to adjusted net income of $28.2 million, or $2.34 per diluted share for the third quarter of 2025. Adjusted EBITDA for the third quarter of 2026 was $52.4 million, or 13.0% of net sales, compared to $55.0 million, or 13.1% of net sales, for the third quarter of 2025. The third-quarter results included $33.3 million of net pre-tax charges associated with the sale and wind-down of several businesses and product lines, including Dixie Chopper® and Boxer®. The charges included inventory valuation adjustments, impairment of intangible and other long-lived assets, and other wind-down-related costs. $7.3 million was recorded as a reduction in sales, $15.5 million was recorded in cost of sales, $9.0 million was recorded in selling, general and administrative expenses, and the remaining $1.5 million charge was recorded in other income and expense. The divestiture actions also resulted in certain discrete tax impacts that temporarily increased the Company’s effective tax rate in the quarter, while the Company’s underlying tax rate remained generally consistent with historical levels. Gross profit for the third quarter 2026 was $76.1 million compared to gross profit of $101.7 million in the third quarter of 2025. Adjusted gross profit was $99.8 million, or 24.7% of net sales, compared to $102.2 million, or 24.3% of net sales, in the third quarter of 2025. Selling, general and administrative expenses were $67.6 million compared to $59.9 million in the third quarter of 2025. Adjusted selling, general and administrative expenses were $56.0 million or 13.9% of net sales in the third quarter of 2026, compared to $56.6 million or 13.5% of net sales in the third quarter of 2025. Amortization expense was $5.1 million compared to $4.2 million in the third quarter of 2025, with the increase primarily attributable to the acquisition of Petersen Industries ("Petersen"). Industrial Equipment Division net sales were $232.8 million, a decrease of 5.8% compared to $247.0 million in the third quarter of 2025. Softer end-market conditions and the timing of orders earlier in the year were partially offset by the contribution from the Petersen acquisition. Excluding Petersen, Industrial Equipment Division net sales decreased approximately 12.6%. Adjusted EBITDA in the Industrial Equipment Division for the third quarter of 2026 was $31.1 million, or 13.4% of net sales, compared to $38.2 million, or 15.5% of net sales in the third quarter of 2025. The year-over-year decline in adjusted EBITDA margin reflected material and freight inflation as well as the impact of lower sales on the Division's fixed costs. Vegetation Management Division net sales were $170.4 million, a decrease of 1.5% compared to $173.1 million in the third quarter of 2025. The quarter included a $7.3 million reduction in sales related to the divestitures. Excluding that item, the Division’s sales increased 2.7%, primarily reflecting improved manufacturing throughput in several businesses. Adjusted EBITDA in the Vegetation Management Division was $21.3 million, or 12.5% of net sales, compared to $16.8 million, or 9.7% of net sales, in the
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Page 3 third quarter of 2025. The year-over-year increase in adjusted EBITDA margin reflected improved performance in several of our businesses. Mr. Hureau commented, “I am pleased with the continued, steady improvement in our Vegetation Management Division as our leadership team executes well against its operational priorities and drives meaningful progress toward our long-term objective of restoring the Division’s operating margins to healthy levels. We remain focused on the factors within our control and confident in the progress our teams are making to strengthen performance and drive long-term profitability. Our Industrial Equipment Division experienced margin pressure during the quarter from elevated material and freight costs. We have taken decisive pricing actions to address these higher costs, although the timing of those actions lagged inflation during the quarter. Importantly, while revenue declined from the prior year, order intake strengthened during the third quarter, with particularly encouraging activity in vacuum trucks and sweepers, reinforcing our confidence in the underlying strength of the business.” Backlog at September 30, 2026 was $521.3 million compared to $618.3 million at September 30, 2025. Industrial Equipment backlog was $350.4 million compared to $438.1 million in the prior year, while Vegetation Management backlog was $170.9 million compared to $180.2 million. While backlog moderated from prior-year levels, order activity remained solid during the third quarter, and current backlog levels support appropriate customer lead times. Year-to-Date Results For the first nine months of 2026, net sales increased 3.3% to $1.3 billion compared to $1.2 billion in the prior-year period. Adjusted EBITDA increased 2.0% to $175.6 million, or 13.8% of net sales, compared to $172.1 million, or 14.0% of net sales, in the first nine months of 2025. Industrial Equipment Division net sales increased 4.4% to $746.1 million, while Vegetation Management Division net sales increased 1.9% to $524.9 million. For the first nine months of 2026, diluted EPS was $5.14 compared to $7.31 for the same period in 2025. Adjusted diluted EPS was $7.43 compared to $7.67 in the prior-year period. Net cash provided by operating activities was $83.2 million for the first nine months of 2026 and capital expenditures were $16.1 million. At September 30, 2026, cash and cash equivalents were $230.7 million and total debt was $232.3 million, resulting in debt net of cash of approximately $1.7 million. Available borrowings under the revolving credit facility were $363.6 million. Alamo Group Inc. acquires Econ Engineering Subsequent to quarter end, on October 27, 2026, the Company acquired 100% of the outstanding equity of Econ Engineering Group Limited ("Econ"). The acquisition expands Alamo Group’s Industrial Equipment portfolio and adds a complementary business with opportunities for continued growth. Econ's leading market position, differentiated products, strong customer service capabilities, attractive financial profile, and resilient end-markets fit well with the existing portfolio of industrial businesses. The Company used borrowings under its revolving credit facility to fund the acquisition. Following the acquisition, management believes that the Company's remaining liquidity, together with cash flows from operations, remains sufficient to meet its anticipated operating and capital requirements.
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Page 4 Mr. Hureau added, “We are excited to welcome Econ, its employees and customers, to Alamo Group. This acquisition aligns well with our long-term strategic priorities and disciplined M&A criteria, and we believe it will create meaningful long-term value for our shareholders. Supported by the strong cash flow generation of our businesses, this transaction demonstrates our commitment to disciplined capital allocation and executing strategic investments that support long-term profitable growth. We look forward to discussing details during the earnings call." Earnings Conference Call The Company will host a conference call to discuss the results on Tuesday, November 3, 2026, at 10:00 a.m. ET. Hosting the call will be members of senior management. Individuals wishing to participate in the conference call should dial 1-833-816-1163 (domestic) or 1-412-317-1898 (international). For interested individuals unable to join the call, a replay will be available until Tuesday, November 10, 2026, by dialing 1-855-669-9658 (domestic) or 1- 412-317-0088 (international), passcode 7798005. The live broadcast of Alamo Group Inc.’s quarterly conference call will be available online at the Company's website, www.alamo-group.com (under “Investor Relations/Events and Presentations”) on Tuesday, November 3, 2026, beginning at 10:00 a.m. ET. The online replay will follow shortly after the call ends and will be archived on the Company’s website for 60 days. About Alamo Group Alamo Group is a leader in the manufacture and sale of high-quality, purpose-built industrial and vegetation management equipment. We serve end-markets such as infrastructure building and maintenance, industrial construction, public works, land maintenance, agriculture and tree care. Our products are sold to independent equipment dealers and directly to contractors and municipalities. Product categories include vocational products (vacuum trucks, street sweepers, roadside safety equipment, excavators, and snow removal equipment) and light machinery (tractor mounted mowing equipment, land maintenance and recycling equipment) as well as related after-market parts and services. The Company operates two divisions: the Industrial Equipment Division and the Vegetation Management Division. Founded in 1969, the Company has approximately 3,800 employees and operates 27 manufacturing facilities in the United States, Canada, Europe, Brazil and Australia. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.
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Page 5 Forward Looking Statements This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: adverse economic conditions which could lead to a reduction in overall market demand, supply chain disruptions, labor constraints, increasing costs due to inflation, disease outbreaks, geopolitical risks, including tariffs, trade disputes, and the effects of the wars in Ukraine and the Middle East, competition, weather, seasonality, currency- related issues, and other risk factors listed from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date. (Tables Follow) # # #
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Page 6 Alamo Group Inc. Condensed Consolidated Statements of Income (in thousands, except per share amounts) (Unaudited) Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2026 2025 2026 2025 Net sales: Vegetation Management $ 170,380 $ 173,059 $ 524,892 $ 515,307 Industrial Equipment 232,757 246,983 746,127 714,758 Total net sales 403,137 420,042 1,271,019 1,230,065 Cost of sales 327,015 318,359 979,236 917,249 Gross profit 76,122 101,683 291,783 312,816 Selling, general and administrative expenses 67,610 59,931 185,453 171,397 Amortization expense 5,073 4,210 14,967 12,337 Income from operations 3,439 37,542 91,363 129,082 Interest expense (3,854) (3,897) (13,270) (10,775) Interest income 1,421 1,522 4,141 3,955 Other income (expense) 3,644 (210) 3,057 (4,056) Income before income taxes 4,650 34,957 85,291 118,206 Provision for income taxes 2,624 9,574 23,141 29,917 Net income $ 2,026 $ 25,383 $ 62,150 $ 88,289 Net income per common share: Basic $ 0.17 $ 2.11 $ 5.16 $ 7.35 Diluted $ 0.17 $ 2.10 $ 5.14 $ 7.31 Weighted-average common shares: Basic 12,024 12,029 12,048 12,013 Diluted 12,072 12,094 12,099 12,075
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Page 7 Alamo Group Inc. Condensed Consolidated Balance Sheets (in thousands) (Unaudited) September 30,2026 September 30,2025 ASSETS Current assets: Cash and cash equivalents $ 230,650 $ 244,806 Accounts receivable, net 314,015 335,210 Inventories 420,051 378,166 Other current assets 22,533 21,211 Total current assets 987,249 979,393 Rental equipment, net 54,516 61,558 Property, plant and equipment, net 156,091 165,887 Goodwill 270,922 214,429 Intangible assets, net 202,531 147,322 Other non-current assets 28,556 26,390 Total assets $ 1,699,865 $ 1,594,979 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Trade accounts payable $ 142,851 $ 129,297 Income taxes payable 4,244 — Accrued liabilities 83,446 76,770 Current maturities of long-term debt 5,062 15,000 Total current liabilities 235,603 221,067 Long-term debt, net of current maturities 227,252 194,430 Long-term tax liability 218 471 Other long-term liabilities 27,105 24,423 Deferred income taxes 23,341 21,982 Total liabilities 513,519 462,373 Total stockholders’ equity 1,186,346 1,132,606 Total liabilities and stockholders’ equity $ 1,699,865 $ 1,594,979
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Page 8 Alamo Group Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (Unaudited) Nine Months EndedSeptember 30, 2026 2025 Operating Activities Net income $ 62,150 $ 88,289 Adjustments to reconcile net income to net cash provided by operating activities: Provision for doubtful accounts 352 (46) Depreciation - Property, plant and equipment 19,543 20,144 Depreciation - Rental equipment 8,735 8,719 Amortization of intangibles 14,967 12,337 Amortization of debt issuance costs 493 527 Stock-based compensation expense 4,869 8,363 Deferred income tax expense (benefit) (683) 8,681 Gain on sale of property, plant and equipment (6,828) (489) Loss on assets held for sale 4,719 — Loss on sale of business 220 — Divestiture-related charges 28,023 — Changes in operating assets and liabilities: Accounts receivable (34,499) (18,815) Inventories (36,924) (24,382) Rental equipment (2,259) (17,235) Prepaid expenses and other assets 248 6,200 Accounts payable and accrued liabilities 9,826 37,156 Income taxes payable 9,263 (24,860) Long-term tax payable (252) (156) Other long-term liabilities 1,267 (2,009) Net cash provided by operating activities 83,230 102,424 Investing Activities Acquisitions, net of cash acquired (162,938) (17,582) Purchases of property, plant and equipment (16,060) (25,400) Proceeds from sale of property, plant and equipment 13,260 1,064 Proceeds from sale of businesses, net of cash disposed 4,739 — Net cash used in investing activities (160,999) (41,918) Financing Activities Borrowings on revolving credit facility 120,000 50,000 Repayments on revolving credit facility (86,900) (50,000) Principal payments on long-term debt and finance leases (6,281) (11,257) Debt issuance costs (2,099) — Dividends paid (12,289) (10,805) Proceeds from exercise of stock options 1,062 1,502 Common stock repurchased (10,919) (3,022) Net cash provided by (used in) financing activities 2,574 (23,582) Effect of exchange rate changes on cash and cash equivalents (3,814) 10,608 Net change in cash and cash equivalents (79,009) 47,532 Cash and cash equivalents at beginning of the year 309,659 197,274 Cash and cash equivalents at end of the period $ 230,650 $ 244,806 Cash paid for: Interest $ 13,425 $ 10,742 Income taxes 16,922 45,939
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Page 9 Alamo Group Inc. Non-GAAP Financial Measures Reconciliation From time to time, Alamo Group Inc. may disclose certain “Non-GAAP financial measures” in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. For these purposes, “GAAP” refers to generally accepted accounting principles in the United States. The Securities and Exchange Commission (SEC) defines a “non-GAAP financial measure” as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude or include amounts from the most directly comparable measure calculated and presented in accordance with GAAP. Non- GAAP financial measures disclosed by Alamo Group are provided as additional information to investors in order to provide them with greater transparency about, or an alternative method for assessing, our financial condition and operating results. These measures are not in accordance with, or a substitute for, GAAP and may be different from, or inconsistent with, non-GAAP financial measures used by other companies. Whenever we refer to a non- GAAP financial measure, we will also generally present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure. Attachment 1 discloses non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income and Adjusted Diluted EPS, and adjusts for certain items that management believes are not indicative of underlying performance. Adjusted Operating Income accounts for these impacts on a pre-tax basis and Adjusted Net Income and Adjusted Diluted EPS are calculated on an after-tax basis. Management believes isolating certain items from the core operating performance improves comparability across periods, and reflects how management assesses the business. Attachment 2 shows a reconciliation of Net Income to Adjusted EBITDA. Attachment 3 discloses non-GAAP measures such as Adjusted Gross Profit and Adjusted Selling, General and Administrative expense, and adjusts for certain items that the management believes are not indicative of underlying performance. Attachment 4 reflects Division performance inclusive of non-GAAP financial measures such as Bookings, Backlog, Adjusted Operating Income, and Adjusted EBITDA. Attachment 5 shows the net change in our debt, net of cash, and discloses a non-GAAP financial presentation related to the impact of currency translation on net sales by division.
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Page 10 Attachment 1 Alamo Group Inc. Non-GAAP Financial Reconciliations (in thousands, except per share numbers) (Unaudited) Operating Income, Net Income and EPS Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Operating Income $ 3,439 $ 37,542 $ 91,363 $ 129,082 CEO Transition — 1,859 — 2,310 Acquisition and Integration Expenses 854 1,392 1,769 1,627 Restructuring Expenses, net 2,616 572 8,556 1,939 Divestitures, net 31,817 — 31,817 — Adjusted Operating Income $ 38,726 $ 41,365 $ 133,505 $ 134,958 Adjusted Operating Income % net sales 9.6 % 9.8 % 10.5 % 11.0 % Net Income $ 2,026 $ 25,383 $ 62,150 $ 88,289 CEO Transition, net of tax benefit $470 and $585,respectively — 1,389 — 1,725 Acquisition and Integration Expenses, net of tax benefit$225 and $352, $479 and $412, respectively 629 1,040 1,290 1,215 Restructuring Expenses, net of tax (expense) benefit$(807) and $145, $779 and $491, respectively (2,260) 427 2,094 1,448 Divestitures, net of tax benefit $8,757 and $9,023,respectively 24,539 — 24,273 — Adjusted Net Income $ 24,934 $ 28,239 $ 89,807 $ 92,677 Diluted EPS $ 0.17 $ 2.10 $ 5.14 $ 7.31 CEO Transition — 0.11 — 0.14 Acquisition and Integration Expenses 0.05 0.09 0.11 0.10 Restructuring Expenses (0.19) 0.04 0.17 0.12 Divestitures 2.03 — 2.01 — Adjusted Diluted EPS $ 2.06 $ 2.34 $ 7.43 $ 7.67 Notes: 1. CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses 2. Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals 3. Restructuring expenses, net include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements as well as gain on sale of facilities. The gain on sale of facilities was recorded in Other income (expense), below Operating Income in our Condensed Consolidated Statements of Income 4. Divestiture-related expenses include charges associated with completed and ongoing sales and wind-down activities involving several businesses and product lines, including Dixie Chopper® and Boxer® (1) (2) (3) (4) (1) (2) (3) (4) (1) (2) (3) (4)
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Page 11 Attachment 2 Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) Net Income to Adjusted EBITDA Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Net Income $ 2,026 $ 25,383 $ 62,150 $ 88,289 Interest, net 2,433 2,375 9,129 6,820 Provision for income taxes 2,624 9,574 23,141 29,917 Depreciation 9,111 9,646 28,278 28,863 Amortization 5,073 4,210 14,967 12,337 EBITDA $ 21,267 $ 51,188 $ 137,665 $ 166,226 EBITDA % net sales 5.3 % 12.2 % 10.8 % 13.5 % Adjustments: CEO Transition $ — $ 1,859 $ — $ 2,310 Acquisition and Integration Expenses 854 1,392 1,769 1,627 Restructuring Expenses, net (3,067) 572 2,873 1,939 Divestitures, net 33,296 — 33,296 — Adjusted EBITDA $ 52,350 $ 55,011 $ 175,603 $ 172,102 Adjusted EBITDA % of net sales 13.0 % 13.1 % 13.8 % 14.0 % Notes: 1. CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses 2. Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals 3. Restructuring expenses, net include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements as well as gain on sale of facilities. The gain on sale of facilities was recorded in Other income (expense), below Operating Income in our Condensed Consolidated Statements of Income 4. Divestiture-related expenses include charges associated with completed and ongoing sales and wind-down activities involving several businesses and product lines, including Dixie Chopper® and Boxer® (1) (2) (3) (4)
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Page 12 Attachment 3 Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) Gross Profit and Selling, General and Administrative Expense Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 Gross profit $ 76,122 $ 101,683 $ 291,783 $ 312,816 CEO Transition — — — — Acquisition and Integration Expenses — — — — Restructuring Expenses, net 858 509 2,521 1,498 Divestitures, net 22,774 — 22,774 — Adjusted Gross Profit $ 99,754 $ 102,192 $ 317,078 $ 314,314 Adjusted Gross Profit % net sales 24.7 % 24.3 % 24.9 % 25.6 % Selling, general and administrative expense$ 67,610 $ 59,931 $ 185,453 $ 171,397 CEO Transition — (1,859) — (2,310) Acquisition and Integration Expenses (854) (1,392) (1,769) (1,627) Restructuring Expenses, net (1,758) (63) (6,035) (441) Divestitures, net (9,043) — (9,043) — Adjusted Selling, general and administrativeexpense $ 55,955 $ 56,617 $ 168,606 $ 167,019 Adjusted Selling, general and administrativeexpense % net sales 13.9 % 13.5 % 13.3 % 13.6 % Notes: 1. CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses 2. Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals 3. Restructuring expenses, net include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements as well as gain on sale of facilities. The gain on sale of facilities was recorded in Other income (expense), below Operating Income in our Condensed Consolidated Statements of Income 4. Divestiture-related expenses include charges associated with completed and ongoing sales and wind-down activities involving several businesses and product lines, including Dixie Chopper® and Boxer® (1) (2) (3) (4) (1) (2) (3) (4)
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Page 13 Attachment 4 Alamo Group Inc. Non-GAAP Financial Reconciliations (in thousands) (Unaudited) Industrial Equipment Division Performance Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2026 2025 2026 2025 Bookings $ 217,898 $ 175,479 $ 695,599 $ 671,320 Backlog, end of period 350,426 438,106 Net sales 232,757 246,983 746,127 714,758 Income from Operations 22,406 30,064 90,912 95,541 Income from Operations % net sales 9.6 % 12.2 % 12.2 % 13.4 % Adjustments: CEO Transition $ — $ 966 $ — $ 1,206 Acquisition and Integration Expenses 509 724 1,130 849 Restructuring Expenses, net 1,266 — 2,975 — Divestitures, net (29) — (29) — Adjusted Operating Income $ 24,152 $ 31,754 $ 94,988 $ 97,596 Adjusted Operating Income % of sales 10.4 % 12.9 % 12.7 % 13.7 % Depreciation 5,213 5,550 16,039 16,462 Amortization 2,092 1,255 6,046 3,516 Other income (expense) 4,952 (395) 4,417 (1,650) EBITDA $ 34,663 $ 36,474 $ 117,414 $ 113,869 EBITDA % net Sales 14.9 % 14.8 % 15.7 % 15.9 % Adjustments: CEO Transition $ — $ 966 $ — $ 1,206 Acquisition and Integration Expenses(2) 509 724 1,130 849 Restructuring Expenses, net (3,884) — (2,175) — Divestitures, net (213) — (213) — Adjusted EBITDA $ 31,075 $ 38,164 $ 116,156 $ 115,924 Adjusted EBITDA % of net sales 13.4 % 15.5 % 15.6 % 16.2 % Notes: 1. CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses 2. Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals 3. Restructuring expenses, net include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements as well as gain on sale of facilities. The gain on sale of facilities was recorded in Other income (expense), below Operating Income in our Condensed Consolidated Statements of Income 4. Divestiture-related expenses include charges associated with completed and ongoing sales and wind-down activities involving several businesses and product lines, including Dixie Chopper® and Boxer® (1) (2) (3) (4) (1) (3) (4)
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Page 14 Attachment 4 (Continued) Alamo Group Inc. Non-GAAP Financial Reconciliation (in thousands) (Unaudited) Vegetation Management Division Performance Three Months EndedSeptember 30, Nine Months EndedSeptember 30, 2026 2025 2026 2025 Bookings $ 157,209 $ 175,667 $ 497,018 $ 508,437 Backlog, end of period 170,861 180,232 Net sales 170,380 173,059 524,892 515,307 Income from Operations (18,967) 7,478 451 33,541 Income from Operations % net sales (11.1)% 4.3 % 0.1 % 6.5 % Adjustments: CEO Transition $ — $ 893 $ — $ 1,104 Acquisition and Integration Expenses 345 668 639 778 Restructuring Expenses, net 1,350 572 5,581 1,939 Divestitures, net 31,846 — 31,846 — Adjusted Operating Income $ 14,574 $ 9,611 $ 38,517 $ 37,362 Adjusted Operating Income % of sales 8.6 % 5.6 % 7.3 % 7.3 % Depreciation 3,898 4,096 12,239 12,401 Amortization 2,981 2,955 8,921 8,821 Other income (expense) (1,308) 185 (1,360) (2,406) EBITDA $ (13,396) $ 14,714 $ 20,251 $ 52,357 EBITDA % net sales (7.9)% 8.5 % 3.9 % 10.2 % Adjustments: CEO Transition $ — $ 893 $ — $ 1,104 Acquisition and Integration Expenses 345 668 639 778 Restructuring Expenses, net 817 572 5,048 1,939 Divestitures, net 33,509 — 33,509 — Adjusted EBITDA $ 21,275 $ 16,847 $ 59,447 $ 56,178 Adjusted EBITDA % net sales 12.5 % 9.7 % 11.3 % 10.9 % Notes: 1. CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses 2. Acquisition and integration expenses include advisory fees and other related costs for both successful and unsuccessful deals 3. Restructuring expenses, net include costs related to leadership changes, severance costs, facility move and setup costs, and advisory fees associated with operational improvements as well as gain on sale of facilities. The gain on sale of facilities was recorded in Other income (expense), below Operating Income in our Condensed Consolidated Statements of Income 4. Divestiture-related expenses include charges associated with completed and ongoing sales and wind-down activities involving several businesses and product lines, including Dixie Chopper® and Boxer® (1) (2) (3) (4) (1) (2) (3) (4)
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Page 15 Attachment 5 Alamo Group Inc. Non-GAAP Financial Reconciliations (in thousands) (Unaudited) Consolidated Net Change of Debt, Net of Cash September 30,2026 September 30,2025 Net Change Current maturities $ 5,062 $ 15,000 Long-term debt, net of current 227,252 194,430 Total debt $ 232,314 $ 209,430 Cash 230,650 244,806 Debt, Net of Cash $ 1,664 $ (35,376) $ 37,040 Impact of Currency Translation on Net Sales by Division Three Months EndedSeptember 30, Change due to currency translation 2026 2025 % change from2025 $ % Vegetation Management $ 170,380 $ 173,059 (1.5)% $ (107) (0.1)% Industrial Equipment 232,757 246,983 (5.8)% (666) (0.3)% Net sales $ 403,137 $ 420,042 (4.0)% $ (773) (0.2)% Nine Months EndedSeptember 30, Change due to currency translation 2026 2025 % change from2025 $ % Vegetation Management $ 524,892 $ 515,307 1.9 % $ 6,497 1.3 % Industrial Equipment 746,127 714,758 4.4 % 2,872 0.4 % Net sales $ 1,271,019 $ 1,230,065 3.3 % $ 9,369 0.8 %