阿拉莫 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934FOR THE TRANSITION PERIOD FROM ____ TO ____ 1627 East Walnut,Seguin,Texas 78155(Address of principal executive offices, including zip code) 830-379-1480 (Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading symbol(s) “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☒Accelerated filer Emerging growth company Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ Three Months Ended March 31, 2025 and March 31, 2024 Three Months Ended March 31, 2025 and March 31, 2024 Three Months Ended March 31, 2025 and March 31, 2024 Management's Discussion and Analysis of Financial Condition and Results of Operations Additional requires disaggregated Income Statement Expenses. The ASU is effective for annual periods beginning after December 15,2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is also permitted. This ASU will result in the required additional disclosures being included in our consolidated financial statements,once adopted.2.Accounts ReceivableAccounts receivable is shown net of sales discounts and the allowance for credit losses. Finished goods$327,637$317,169Work in process23,57021,310Raw materials5,199Inventories, net$356,406$343,363 8 Rental equipment is shown net of accumulated depreciation of $24.7million and $25.0million at March31, 2025 andDecember31, 2024, respectively. The Company recognized depreciation expense of $2.9million and $2.4million for the three 5.Fair Value Measurements The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accountspayable, and accrued expenses, approximate their fair value because of the short-term nature of these items. The carrying value of our debt approximates the fair value as of March31, 2025 and December31, 2024. This conclusion was made basedon Level 2 inputs. Fair values determined by Level 2 utilize inputs that are observable for the asset or liability, either directly orindirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar Derivative Instruments and Hedging Activities The Company records all derivatives in accordance with ASC 815, Derivatives and Hedging, which requires derivative as of March31, 2025 compared to a derivative asset of $0.8million as of December31, 2024. In the condensed consolidatedbalance sheet, the fair value of the interest rate swaps is included in other long-term liabilities. The gains and losses are not Balance at December 31, 2024$126,729$76,298$Translation adjustment1,144411Balance at March 31, 2025$127,873$76,709$ 9 Trade names and trademarks15-25years$72,491$Customer and dealer relationships8-15years137,402 Noncompetition agreements5years200Total at cost242,976Less accumulated amortization(100,577)Total net142,399 The Company recognized amortization expense of $4.0million and $4.1million for the three months ended March31, 2025 and 2024, respectively. 1,582945935 share, which was paid on April29, 2025, to shareholders of record at the close of business on April16, 2025. has determined that this level of disaggregation would be beneficial to users of the financial statements.Revenue by Product Type $313,14061,375 Wholegoods Net sales are attributed to countries based on the location of the customer. Segment Information Other Income (Expense)Interest ExpenseIncome Before Taxes (in thousands)March 31, 2025December 31, 2024Vegetation Management$127,873$ 14 Gross profit for the first quarter of 2025 was $102.8 million (26% of net sales) compared to $111.6 million (26% of net compared to the first quarter of 2024 was driven by lower sales in the Vegetation Management Selling, general and administrative expenses (“SG&A”) were $54.3 million (14% of net sales) during the first quarter of2025 compared to $60.6 million (14% of net sales) during the same period of 2024, a decrease of $6.3 million. The decrease in the same period in 2024. during the same period in 2024.The decline was primarily a result of unfavorable currency exchange rates.Provision for income taxes was $10.0 million (24% of income before income tax) in the first quarter of 2025 compared to$9.7 million (23% of income before income tax) during the same period in 2024. The increase in tax rate for the first quarter of The Company’s net income after tax was $31.8 million or $2.64 per share on a diluted basis for the first quarter of 2025compared to $32.1 million or $2.67 per share on a diluted basis for the first quarter of 2024.Liquidity and Capital Resources primarily in the Vegetation Management Division, help balance th