Alamo Group Reports Record Q2 Earnings
Record second quarter 2023 net sales of $440.7 million increased 11.2% compared to $396.2 million in the second quarter of 2022. Gross margin improved in the quarter versus the second quarter of 2022 by $18.4 million or 18.4%. Second quarter net income improved 27.8% to $36.4 million. The Company’s backlog at the end of the second quarter was $891.2 million, slightly down vs. the backlog at the end of the second quarter of 2022, and was also down 11.5% compared to the Company’s backlog at the end of calendar year 2022.
The record results reported for the quarter were achieved through a combination of effective price management, improvement in supply chain and higher manufacturing throughput.
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