Alamo Group Inc. reported third-quarter net sales of $403.1 million, a 4.0% decline year-over-year, driven by softer end-market conditions in its Industrial Equipment division. The company posted adjusted diluted EPS of $2.06 and adjusted EBITDA of $52.4 million, or 13.0% of sales. Results included $33.3 million in pre-tax charges related to the wind-down of businesses like Dixie Chopper® and Boxer®. Subsequent to quarter-end on October 27, Alamo Group acquired Econ Engineering Group Limited for £120.0 million ($158.7 million) to expand its industrial vocational truck portfolio. The company ended the quarter with $230.7 million in cash and $232.3 million in total debt.
