ALAMO GROUP INC
For the period ended May 1, 2026. Filed Mar 19, 2026.
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May 1, 2026 · Filed Mar 19, 2026
Contents
APPENDIX I
ALAMO GROUP INC. NON-GAAP FINANCIAL MEASURES RECONCILIATION
The non-GAAP financial information presented in this Proxy Statement, including the EBITDA and adjusted EBITDA information and adjusted fully diluted EPS, should be considered supplemental to, and not a substitute for, or superior to, financial measures calculated in accordance with GAAP. The Company has provided this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments shown in the reconciliations below, and to provide an additional measure of performance which management considers in operating the business.
EBITDA
| Twelve Months Ended | ||
|---|---|---|
| December 31, 2025 | December 31, 2024 | |
| Net income | $103,801 | $115,930 |
| Interest, net | 9,308 | 17,911 |
| Provision for income taxes | 35,711 | 33,698 |
| Depreciation | 38,824 | 36,857 |
| Amortization | 16,547 | 16,227 |
| EBITDA | $204,191 | $220,623 |
| Adjustments: | ||
| CEO transition(1) | 2,310 | — |
| Acquisition and Integration Expenses(2) | 3,274 | — |
| Restructuring Expenses(3) | 7,089 | 4,228 |
| Gradall Strike(4) | — | 3,556 |
| Adjusted EBITDA | $216,864 | $228,407 |
Notes:
CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses.
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals.
Restructuring expenses include severance cost, relocation and set up cost, reduction in the realizable value of inventory as a result of strategic brand review, offset by gain on sale of Gibson City, Illinois facility.
Gradall strike represents lost profitability during the 5-week labor strike in Q2, 2024.
| Alamo Group Inc. | 64 | Proxy Statement |
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APPENDIX I
NON-GAAP FINANCIAL MEASURES
| Twelve Months Ended | ||
|---|---|---|
| 12/31/2025($) | 12/31/2024($) | |
| Operating Income | 151,613 | 164,808 |
| CEO Transition(1) | 2,310 | — |
| Acquisition and Integration Expenses(2) | 3,274 | — |
| Restructuring Expenses(3) | 9,262 | 4,228 |
| Gradall Strike(4) | — | 3,556 |
| Adjusted Operating Income | 166,459 | 172,592 |
| Net Income | 103,801 | 115,930 |
| CEO Transition(1), net of tax benefit $— and $591, respectively | 1,719 | — |
| Acquisition and Integration Expenses(2), net of tax benefit $422 and $838, respectively | 2,436 | — |
| Restructuring Expenses(3), net of tax benefit $1,318 and $226, $1,815, and $952, respectively | 5,274 | 3,276 |
| Gradall Strike(4), net of tax benefit $ — and $851, respectively | — | 2,705 |
| Adjusted Net Income | 113,230 | 121,911 |
| Fully Diluted EPS | 8.59 | 9.63 |
| CEO Transition(1) | 0.14 | — |
| Acquisition and Integration Expenses(2) | 0.20 | — |
| Restructuring Expenses(3) | 0.44 | 0.27 |
| Gradall Strike(4) | — | 0.22 |
| Adjusted Fully Diluted EPS | 9.37 | 10.12 |
Notes:
CEO Transition includes accelerated stock compensation, recruiting expenses, sign-on bonus, and moving expenses.
Acquisition and integration expenses include advisory fees for both unsuccessful and successful deals.
Restructuring expenses include severance cost, relocation and set up cost, reduction in the realizable value of inventory as a result of strategic brand review, offset by gain on sale of Gibson City, Illinois facility.
Gradall strike represents lost profitability during the 5-week labor strike in Q2, 2024.
| Alamo Group Inc. | 65 | Proxy Statement |
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