SEGUIN, Texas (AP) 鈥� SEGUIN, Texas (AP) 鈥� Alamo Group Inc. (ALG) on Monday reported second-quarter net income of $30.9 million.
The Seguin, Texas-based company said it had net income of $2.55 per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to $2.82 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.74 per share.
The maker of road maintenance, industrial and farm equipment posted revenue of $450.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $441.3 million.
Alamo Group shares have fallen slightly more than 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $163.93, a decline of 24% in the last 12 months.
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