Alamo (ALG) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-21220
Entity Registrant Name	ALAMO GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1621248
Entity Address, Address Line One	1627 East Walnut
Entity Address, City or Town	Seguin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78155
City Area Code	830
Local Phone Number	379-1480
Title of 12(b) Security	Common Stock, par value$.10 per share
Trading Symbol	ALG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,052,689
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Central Index Key	0000897077
Current Fiscal Year End Date	--12-31

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 121,802	$ 51,919
Accounts receivable, net	392,940	362,007
Inventories, net	384,488	377,480
Prepaid expenses and other current assets	16,226	12,497
Income tax receivable	75	54
Total current assets	915,531	803,957
Rental equipment, net	43,102	39,264
Property, plant and equipment	369,233	365,960
Less:  Accumulated depreciation	(204,423)	(199,300)
Total property, plant and equipment, net	164,810	166,660
Goodwill	205,452	206,536
Intangible assets, net	163,909	168,296
Deferred income taxes	1,388	1,375
Other non-current assets	25,228	23,298
Total assets	1,519,420	1,409,386
Current liabilities:
Trade accounts payable	103,409	99,678
Income taxes payable	17,596	12,529
Accrued liabilities	77,349	86,711
Current maturities of long-term debt and finance lease obligations	15,008	15,008
Total current liabilities	213,362	213,926
Long-term debt and finance lease obligations, net of current maturities	306,525	220,269
Long-term tax liability	2,633	2,634
Other long-term liabilities	24,335	23,694
Deferred income taxes	16,009	16,100
Stockholders’ equity:
Common stock, $0.10 par value, 20,000,000 shares authorized; 11,996,041 and 11,964,181 outstanding at March 31, 2024 and December 31, 2023, respectively	1,200	1,196
Additional paid-in-capital	139,022	137,791
Treasury stock, at cost; 82,600 shares at March 31, 2024 and December 31, 2023, respectively	(4,566)	(4,566)
Retained earnings	881,876	852,859
Accumulated other comprehensive loss	(60,976)	(54,517)
Total stockholders’ equity	956,556	932,763
Total liabilities and stockholders’ equity	$ 1,519,420	$ 1,409,386

Interim Condensed Consolidate_2

Interim Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.1	$ 0.1
Common stock authorized (in shares)	20,000,000	20,000,000
Common stock outstanding (in shares)	11,996,041	11,964,181
Treasury stock (in shares)	82,600	82,600

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales:
Total net sales	$ 425,586	$ 411,771
Cost of sales	313,954	299,264
Gross profit	111,632	112,507
Selling, general and administrative expenses	60,594	59,668
Amortization expense	4,059	3,815
Income from operations	46,979	49,024
Interest expense	(6,091)	(5,940)
Interest income	801	383
Other income (expense), net	98	1,002
Income before income taxes	41,787	44,469
Provision for income taxes	9,667	11,120
Net Income	$ 32,120	$ 33,349
Net income per common share:
Basic (in dollars per share)	$ 2.69	$ 2.80
Diluted (in dollars per share)	$ 2.67	$ 2.79
Average common shares:
Basic (in shares)	11,944	11,899
Diluted (in shares)	12,020	11,962
Dividends declared (in dollars per share)	$ 0.26	$ 0.22
Vegetation Management
Net sales:
Total net sales	$ 223,747	$ 256,435
Income from operations	21,679	36,508
Industrial Equipment
Net sales:
Total net sales	201,839	155,336
Income from operations	$ 25,300	$ 12,516

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 32,120	$ 33,349
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax benefit and (expense) of $379 and $(173), respectively	(7,272)	4,546
Recognition of deferred pension and other post-retirement benefits, net of tax expense of $(69) and $(65), respectively	235	282
Unrealized income (loss) on derivative instruments, net of tax benefit and (expense) of $(169) and $59, respectively	578	(414)
Other comprehensive income (loss), net of tax	(6,459)	4,414
Comprehensive income	$ 25,661	$ 37,763

Interim Condensed Consolidate_5

Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax (expense) benefit	$ 379	$ (173)
Net tax benefit (expense) on pension and other post-retirement benefits	(69)	(65)
Net tax (expense) benefit on unrealized gain (loss) on derivative instruments	$ (169)	$ 59

Interim Condensed Consolidate_6

Interim Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	AdditionalPaid-in Capital	Treasury Stock	Retained Earnings	AccumulatedOtherComprehensive Loss
Beginning balance ( in shares) at Dec. 31, 2022		11,831,000
Beginning balance at Dec. 31, 2022	$ 785,360	$ 1,191	$ 129,820	$ (4,566)	$ 727,183	$ (68,268)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	37,763				33,349	4,414
Stock-based compensation expense	1,699		1,699
Stock-based compensation transactions (in shares)		28,000
Stock-based compensation transactions	141	$ 3	138
Dividends paid	(2,615)				(2,615)
Ending balance (in shares) at Mar. 31, 2023		11,859,000
Ending balance at Mar. 31, 2023	$ 822,348	$ 1,194	131,657	(4,566)	757,917	(63,854)
Beginning balance ( in shares) at Dec. 31, 2023	11,964,181	11,882,000
Beginning balance at Dec. 31, 2023	$ 932,763	$ 1,196	137,791	(4,566)	852,859	(54,517)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	25,661				32,120	(6,459)
Stock-based compensation expense	2,125		2,125
Stock-based compensation transactions (in shares)		31,000
Stock-based compensation transactions	(890)	$ 4	(894)
Dividends paid	$ (3,103)				(3,103)
Ending balance (in shares) at Mar. 31, 2024	11,996,041	11,913,000
Ending balance at Mar. 31, 2024	$ 956,556	$ 1,200	$ 139,022	$ (4,566)	$ 881,876	$ (60,976)

Interim Condensed Consolidate_7

Interim Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 0.26	$ 0.22

Interim Condensed Consolidate_8

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Activities
Net income	$ 32,120	$ 33,349
Adjustment to reconcile net income to net cash provided by operating activities:
Provision for doubtful accounts	79	313
Depreciation - Property, plant and equipment	6,580	5,521
Depreciation - Rental equipment	2,355	2,105
Amortization of intangibles	4,059	3,815
Amortization of debt issuance	176	176
Stock-based compensation expense	2,125	1,699
Provision for deferred income tax	148	436
Loss (Gain) on sale of property, plant and equipment	151	(1,716)
Changes in operating assets and liabilities:
Accounts receivable	(33,154)	(44,825)
Inventories	(9,185)	(8,703)
Rental equipment	(6,206)	(4,502)
Prepaid expenses and other assets	(4,974)	380
Trade accounts payable and accrued liabilities	180	4,564
Income taxes payable	5,160	8,783
Other assets and long-term liabilities, net	1,510	(189)
Net cash provided by operating activities	1,124	1,206
Investing Activities
Purchase of property, plant and equipment	(6,653)	(8,999)
Proceeds from sale of property, plant and equipment	749	2,533
Net cash used in investing activities	(5,904)	(6,466)
Financing Activities
Borrowings on bank revolving credit facility	134,000	91,000
Repayments on bank revolving credit facility	(44,000)	(18,000)
Principal payments on long-term debt and finance leases	(3,813)	(3,753)
Contingent consideration payment from acquisition	(4,402)	0
Dividends paid	(3,103)	(2,615)
Proceeds from exercise of stock options	728	877
Common stock repurchased	(1,618)	(736)
Net cash provided by financing activities	77,792	66,773
Effect of exchange rate changes on cash and cash equivalents	(3,129)	791
Net change in cash and cash equivalents	69,883	62,304
Cash and cash equivalents at beginning of the year	51,919	47,016
Cash and cash equivalents at end of the period	121,802	109,320
Cash paid during the period for:
Interest	5,830	5,065
Income taxes	$ 5,306	$ 3,042

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation General The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The balance sheet at December 31, 2023 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023 (the "2023 10-K"). Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. Upon adoption this ASU will likely result in incremental disclosures as required. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations On October 10, 2023, the Company acquired 100% of the issued and outstanding equity capital of Royal Truck & Equipment, Inc. (“ Royal Truck ”). Royal Truck is a leading manufacturer of truck mounted highway attenuator trucks and other specialty trucks and equipment for the highway infrastructure and traffic control market. The primary reason for the Royal Truck acquisition was to acquire business operations in an adjacent market, highway safety and equipment, where the Company sees compelling future opportunities. The acquisition price was approximately $32 million. The Company completed its review of the valuation of the purchase price allocation for Royal Truck during the first quarter of 2024. The Company has included the operating results of Royal Truck in its consolidated financial statements since the date of acquisition, these results are considered immaterial.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable is shown net of sales discounts and the allowance for credit losses.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Net inventories consist of the following: (in thousands) March 31, 2024 December 31, 2023 Finished goods $ 346,730 $ 338,675 Work in process 30,192 30,616 Raw materials 7,566 8,189 Inventories, net $ 384,488 $ 377,480 Inventory obsolescence reserves were $8.5 million at March 31, 2024 and $9.0 million at December 31, 2023.

Rental Equipment

Rental Equipment	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Rental Equipment	Rental EquipmentRental equipment is shown net of accumulated depreciation of $24.3 million and $24.7 million at March 31, 2024 and December 31, 2023, respectively. The Company recognized depreciation expense of $2.4 million and $2.1 million for the three months ended March 31, 2024 and 2023, respectively

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying values of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, 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 March 31, 2024 and December 31, 2023, as the floating rates on our outstanding balances approximate current market rates. This conclusion was made based on Level 2 inputs.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following is the summary of changes to the Company's Goodwill for the three months ended March 31, 2024: (in thousands) Vegetation Management Industrial Equipment Consolidated Balance at December 31, 2023 $ 128,899 $ 77,637 $ 206,536 Translation adjustment (584) (382) (966) Goodwill adjustment — (118) (118) Balance at March 31, 2024 $ 128,315 $ 77,137 $ 205,452 The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives March 31, 2024 December 31, 2023 Definite: Trade names and trademarks 15-25 years $ 72,590 $ 72,834 Customer and dealer relationships 8-15 years 137,548 137,744 Patents and drawings 3-12 years 28,469 28,558 Favorable leasehold interests 7 years 4,200 4,200 Noncompetition agreements 5 years 200 200 Total at cost 243,007 243,536 Less accumulated amortization (84,598) (80,740) Total net 158,409 162,796 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 163,909 $ 168,296 The Company recognized amortization expense of $4.1 million and $3.8 million for the three months ended March 31, 2024 and 2023, respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows: Components of Lease Cost Three Months Ended (in thousands) 2024 2023 Finance lease cost: Amortization of right-of-use assets $ 2 $ 3 Interest on lease liabilities — — Operating lease cost 1,662 1,458 Short-term lease cost 475 324 Variable lease cost 73 76 Total lease cost $ 2,212 $ 1,861 Rent expense for the three months ended March 31, 2024 and 2023 was immaterial. Maturities of operating lease liabilities were as follows: Future Minimum Lease Payments (in thousands) March 31, 2024 December 31, 2023 2024 $ 4,749 * $ 5,825 2025 5,499 4,842 2026 4,065 3,443 2027 2,414 1,887 2028 1,222 786 Thereafter 1,787 962 Total minimum lease payments $ 19,736 $ 17,745 Less imputed interest (1,514) (1,143) Total operating lease liabilities $ 18,222 $ 16,602 *Period ended March 31, 2024 represents the remaining nine months of 2024. Future Lease Commencements As of March 31, 2024, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $2.4 million. These operating leases will commence in fiscal year 2024 with lease terms of 3 years. Supplemental balance sheet information related to leases was as follows: Operating Leases (in thousands) March 31, 2024 December 31, 2023 Other non-current assets $ 17,972 $ 16,279 Accrued liabilities 5,693 5,295 Other long-term liabilities 12,529 11,307 Total operating lease liabilities $ 18,222 $ 16,602 Weighted Average Remaining Lease Term 4.04 years 3.76 years Weighted Average Discount Rate 4.30 % 4.05 % Supplemental Cash Flow information related to leases was as follows: Three Months Ended (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,550 $ 1,304
Leases	Leases The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows: Components of Lease Cost Three Months Ended (in thousands) 2024 2023 Finance lease cost: Amortization of right-of-use assets $ 2 $ 3 Interest on lease liabilities — — Operating lease cost 1,662 1,458 Short-term lease cost 475 324 Variable lease cost 73 76 Total lease cost $ 2,212 $ 1,861 Rent expense for the three months ended March 31, 2024 and 2023 was immaterial. Maturities of operating lease liabilities were as follows: Future Minimum Lease Payments (in thousands) March 31, 2024 December 31, 2023 2024 $ 4,749 * $ 5,825 2025 5,499 4,842 2026 4,065 3,443 2027 2,414 1,887 2028 1,222 786 Thereafter 1,787 962 Total minimum lease payments $ 19,736 $ 17,745 Less imputed interest (1,514) (1,143) Total operating lease liabilities $ 18,222 $ 16,602 *Period ended March 31, 2024 represents the remaining nine months of 2024. Future Lease Commencements As of March 31, 2024, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $2.4 million. These operating leases will commence in fiscal year 2024 with lease terms of 3 years. Supplemental balance sheet information related to leases was as follows: Operating Leases (in thousands) March 31, 2024 December 31, 2023 Other non-current assets $ 17,972 $ 16,279 Accrued liabilities 5,693 5,295 Other long-term liabilities 12,529 11,307 Total operating lease liabilities $ 18,222 $ 16,602 Weighted Average Remaining Lease Term 4.04 years 3.76 years Weighted Average Discount Rate 4.30 % 4.05 % Supplemental Cash Flow information related to leases was as follows: Three Months Ended (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,550 $ 1,304

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt The components of long-term debt are as follows: March 31, 2024 December 31, 2023 Current Maturities: Finance lease obligations $ 8 $ 8 Term debt 15,000 15,000 15,008 15,008 Long-term debt: Finance lease obligations 5 68 Term debt, net 216,520 220,201 Bank revolving credit facility 90,000 — Total Long-term debt 306,525 220,269 Total debt $ 321,533 $ 235,277

Common Stock and Dividends

Common Stock and Dividends	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Common Stock and Dividends	Common Stock and Dividends Dividends declared and paid on a per share basis were as follows: Three Months Ended 2024 2023 Dividends declared $ 0.26 $ 0.22 Dividends paid $ 0.26 $ 0.22 On April 1, 2024, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.26 per share, which was paid on April 29, 2024, to shareholders of record at the close of business on April 16, 2024.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations do not differ. Three Months Ended (In thousands, except per share) 2024 2023 Net Income $ 32,120 $ 33,349 Average Common Shares: Basic (weighted-average outstanding shares) 11,944 11,899 Dilutive potential common shares from stock options 76 63 Diluted (weighted-average outstanding shares) 12,020 11,962 Basic earnings per share $ 2.69 $ 2.80 Diluted earnings per share $ 2.67 $ 2.79

Revenue and Segment Information

Revenue and Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Revenue and Segment Information	Revenue and Segment Information Revenues from Contracts with Customers Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type Three Months Ended (in thousands) 2024 2023 Net Sales Wholegoods $ 343,579 $ 329,768 Parts 69,501 69,373 Other 12,506 12,630 Consolidated $ 425,586 $ 411,771 Other includes rental sales, extended warranty sales and service sales as they are considered immaterial. Revenue by Geographical Location Three Months Ended (in thousands) 2024 2023 Net Sales United States $ 293,802 $ 291,579 Canada 38,886 26,865 France 26,172 24,202 United Kingdom 24,211 21,604 Brazil 12,204 11,513 Netherlands 10,344 9,792 Australia 4,504 7,782 Germany 2,819 2,469 Other 12,644 15,965 Consolidated $ 425,586 $ 411,771 Net sales are attributed to countries based on the location of the customer. Segment Information The following includes a summary of the unaudited financial information by reporting segment at March 31, 2024: Three Months Ended (in thousands) 2024 2023 Net Sales Vegetation Management $ 223,747 $ 256,435 Industrial Equipment 201,839 155,336 Consolidated $ 425,586 $ 411,771 Income from Operations Vegetation Management $ 21,679 $ 36,508 Industrial Equipment 25,300 12,516 Consolidated $ 46,979 $ 49,024 (in thousands) March 31, 2024 December 31, 2023 Goodwill Vegetation Management $ 128,315 $ 128,899 Industrial Equipment 77,137 77,637 Consolidated $ 205,452 $ 206,536 Total Identifiable Assets Vegetation Management $ 967,698 $ 893,582 Industrial Equipment 551,722 515,804 Consolidated $ 1,519,420 $ 1,409,386

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Three Months Ended March 31, 2024 2023 (in thousands) Foreign Currency Translation Adjustment Defined Benefit Plans Items Gains (Losses) on Cash Flow Hedges Total Foreign Currency Translation Adjustment Defined Benefit Plans Items Gains (Losses) on Cash Flow Hedges Total Balance as of beginning of period $ (51,785) $ (1,972) $ (760) $ (54,517) $ (65,429) $ (3,310) $ 471 $ (68,268) Other comprehensive income (loss) before reclassifications (7,272) — 483 (6,789) 4,546 — (940) 3,606 Amounts reclassified from accumulated other comprehensive (income) loss — 235 95 330 — 282 526 808 Other comprehensive income (loss) (7,272) 235 578 (6,459) 4,546 282 (414) 4,414 Balance as of end of period $ (59,057) $ (1,737) $ (182) $ (60,976) $ (60,883) $ (3,028) $ 57 $ (63,854)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 32,120	$ 33,349

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying unaudited interim condensed consolidated financial statements of Alamo Group Inc. and its subsidiaries (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulations S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The balance sheet at December 31, 2023 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023 (the "2023 10-K").
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. Upon adoption this ASU will likely result in incremental disclosures as required. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2024. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Net inventories consist of the following: (in thousands) March 31, 2024 December 31, 2023 Finished goods $ 346,730 $ 338,675 Work in process 30,192 30,616 Raw materials 7,566 8,189 Inventories, net $ 384,488 $ 377,480

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is the summary of changes to the Company's Goodwill for the three months ended March 31, 2024: (in thousands) Vegetation Management Industrial Equipment Consolidated Balance at December 31, 2023 $ 128,899 $ 77,637 $ 206,536 Translation adjustment (584) (382) (966) Goodwill adjustment — (118) (118) Balance at March 31, 2024 $ 128,315 $ 77,137 $ 205,452
Schedule of Finite-Lived Intangible Assets	The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives March 31, 2024 December 31, 2023 Definite: Trade names and trademarks 15-25 years $ 72,590 $ 72,834 Customer and dealer relationships 8-15 years 137,548 137,744 Patents and drawings 3-12 years 28,469 28,558 Favorable leasehold interests 7 years 4,200 4,200 Noncompetition agreements 5 years 200 200 Total at cost 243,007 243,536 Less accumulated amortization (84,598) (80,740) Total net 158,409 162,796 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 163,909 $ 168,296
Schedule of Indefinite-Lived Intangible Assets	The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization: (in thousands) Estimated Useful Lives March 31, 2024 December 31, 2023 Definite: Trade names and trademarks 15-25 years $ 72,590 $ 72,834 Customer and dealer relationships 8-15 years 137,548 137,744 Patents and drawings 3-12 years 28,469 28,558 Favorable leasehold interests 7 years 4,200 4,200 Noncompetition agreements 5 years 200 200 Total at cost 243,007 243,536 Less accumulated amortization (84,598) (80,740) Total net 158,409 162,796 Indefinite: Trade names and trademarks 5,500 5,500 Total Intangible Assets $ 163,909 $ 168,296

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease cost were as follows: Components of Lease Cost Three Months Ended (in thousands) 2024 2023 Finance lease cost: Amortization of right-of-use assets $ 2 $ 3 Interest on lease liabilities — — Operating lease cost 1,662 1,458 Short-term lease cost 475 324 Variable lease cost 73 76 Total lease cost $ 2,212 $ 1,861
Schedule of Operating Lease Maturity	Maturities of operating lease liabilities were as follows: Future Minimum Lease Payments (in thousands) March 31, 2024 December 31, 2023 2024 $ 4,749 * $ 5,825 2025 5,499 4,842 2026 4,065 3,443 2027 2,414 1,887 2028 1,222 786 Thereafter 1,787 962 Total minimum lease payments $ 19,736 $ 17,745 Less imputed interest (1,514) (1,143) Total operating lease liabilities $ 18,222 $ 16,602 *Period ended March 31, 2024 represents the remaining nine months of 2024.
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: Operating Leases (in thousands) March 31, 2024 December 31, 2023 Other non-current assets $ 17,972 $ 16,279 Accrued liabilities 5,693 5,295 Other long-term liabilities 12,529 11,307 Total operating lease liabilities $ 18,222 $ 16,602 Weighted Average Remaining Lease Term 4.04 years 3.76 years Weighted Average Discount Rate 4.30 % 4.05 %
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental Cash Flow information related to leases was as follows: Three Months Ended (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,550 $ 1,304

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Components of Long-Term Debt	The components of long-term debt are as follows: March 31, 2024 December 31, 2023 Current Maturities: Finance lease obligations $ 8 $ 8 Term debt 15,000 15,000 15,008 15,008 Long-term debt: Finance lease obligations 5 68 Term debt, net 216,520 220,201 Bank revolving credit facility 90,000 — Total Long-term debt 306,525 220,269 Total debt $ 321,533 $ 235,277

Common Stock and Dividends (Tab

Common Stock and Dividends (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Dividends Declared and Paid	Dividends declared and paid on a per share basis were as follows: Three Months Ended 2024 2023 Dividends declared $ 0.26 $ 0.22 Dividends paid $ 0.26 $ 0.22

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the reconciliation from basic to diluted average common shares and the calculations of net income per common share. Net income for basic and diluted calculations do not differ. Three Months Ended (In thousands, except per share) 2024 2023 Net Income $ 32,120 $ 33,349 Average Common Shares: Basic (weighted-average outstanding shares) 11,944 11,899 Dilutive potential common shares from stock options 76 63 Diluted (weighted-average outstanding shares) 12,020 11,962 Basic earnings per share $ 2.69 $ 2.80 Diluted earnings per share $ 2.67 $ 2.79

Revenue and Segment Informati_2

Revenue and Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Disaggregation of Revenue	Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements. Revenue by Product Type Three Months Ended (in thousands) 2024 2023 Net Sales Wholegoods $ 343,579 $ 329,768 Parts 69,501 69,373 Other 12,506 12,630 Consolidated $ 425,586 $ 411,771 Other includes rental sales, extended warranty sales and service sales as they are considered immaterial. Revenue by Geographical Location Three Months Ended (in thousands) 2024 2023 Net Sales United States $ 293,802 $ 291,579 Canada 38,886 26,865 France 26,172 24,202 United Kingdom 24,211 21,604 Brazil 12,204 11,513 Netherlands 10,344 9,792 Australia 4,504 7,782 Germany 2,819 2,469 Other 12,644 15,965 Consolidated $ 425,586 $ 411,771
Schedule of Segment Reporting Information, by Segment	The following includes a summary of the unaudited financial information by reporting segment at March 31, 2024: Three Months Ended (in thousands) 2024 2023 Net Sales Vegetation Management $ 223,747 $ 256,435 Industrial Equipment 201,839 155,336 Consolidated $ 425,586 $ 411,771 Income from Operations Vegetation Management $ 21,679 $ 36,508 Industrial Equipment 25,300 12,516 Consolidated $ 46,979 $ 49,024 (in thousands) March 31, 2024 December 31, 2023 Goodwill Vegetation Management $ 128,315 $ 128,899 Industrial Equipment 77,137 77,637 Consolidated $ 205,452 $ 206,536 Total Identifiable Assets Vegetation Management $ 967,698 $ 893,582 Industrial Equipment 551,722 515,804 Consolidated $ 1,519,420 $ 1,409,386

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Three Months Ended March 31, 2024 2023 (in thousands) Foreign Currency Translation Adjustment Defined Benefit Plans Items Gains (Losses) on Cash Flow Hedges Total Foreign Currency Translation Adjustment Defined Benefit Plans Items Gains (Losses) on Cash Flow Hedges Total Balance as of beginning of period $ (51,785) $ (1,972) $ (760) $ (54,517) $ (65,429) $ (3,310) $ 471 $ (68,268) Other comprehensive income (loss) before reclassifications (7,272) — 483 (6,789) 4,546 — (940) 3,606 Amounts reclassified from accumulated other comprehensive (income) loss — 235 95 330 — 282 526 808 Other comprehensive income (loss) (7,272) 235 578 (6,459) 4,546 282 (414) 4,414 Balance as of end of period $ (59,057) $ (1,737) $ (182) $ (60,976) $ (60,883) $ (3,028) $ 57 $ (63,854)

Business Combinations (Details)

Business Combinations (Details) - Royal Truck $ in Millions	Oct. 10, 2023 USD ($)
Business Acquisition [Line Items]
Percentage of issued and outstanding capital shares acquired (in percent)	100%
Acquisition price	$ 32

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Reserves for sales discounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Reserves for sales discounts on products shipped under promotional programs	$ 26.9	$ 24

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 346,730	$ 338,675
Work in process	30,192	30,616
Raw materials	7,566	8,189
Inventories, net	$ 384,488	$ 377,480

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory obsolescence reserves	$ 8.5	$ 9

Rental Equipment (Details)

Rental Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 204,423		$ 199,300
Depreciation	6,580	$ 5,521
Rental Equipment
Property, Plant and Equipment [Line Items]
Accumulated depreciation	24,300		$ 24,700
Depreciation	$ 2,400	$ 2,100

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	$ 206,536
Translation adjustment	(966)
Goodwill adjustment	(118)
Goodwill, balance at the end of the period	205,452
Vegetation Management
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	128,899
Translation adjustment	(584)
Goodwill adjustment	0
Goodwill, balance at the end of the period	128,315
Industrial Equipment
Goodwill [Roll Forward]
Goodwill, balance at the beginning of the period	77,637
Translation adjustment	(382)
Goodwill adjustment	(118)
Goodwill, balance at the end of the period	$ 77,137

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Definite and Indefinite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Total at cost	$ 243,007	$ 243,536
Less accumulated amortization	(84,598)	(80,740)
Total net	158,409	162,796
Total Intangible Assets	163,909	168,296
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Indefinite-Trade names and trademarks	5,500	5,500
Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Total at cost	72,590	72,834
Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Total at cost	137,548	137,744
Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Total at cost	$ 28,469	28,558
Favorable leasehold interests
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	7 years
Total at cost	$ 4,200	4,200
Noncompetition agreements
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	5 years
Total at cost	$ 200	$ 200
Minimum | Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	15 years
Minimum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	8 years
Minimum | Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	3 years
Maximum | Trade names and trademarks
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	25 years
Maximum | Customer and dealer relationships
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	15 years
Maximum | Patents and drawings
Schedule of Acquired Indefinite-lived and Finite Intangible Assets by major class [Line Items]
Estimated Useful Lives	12 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,059	$ 3,815

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finance lease cost:
Amortization of right-of-use assets	$ 2	$ 3
Interest on lease liabilities	0	0
Operating lease cost	1,662	1,458
Short-term lease cost	475	324
Variable lease cost	73	76
Total lease cost	$ 2,212	$ 1,861

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Future Minimum Lease Payments
Remainder of fiscal year	$ 4,749
Year one	5,499	$ 5,825
Year two	4,065	4,842
Year three	2,414	3,443
Year four	1,222	1,887
Year five		786
Thereafter	1,787
Thereafter		962
Total minimum lease payments	19,736	17,745
Less imputed interest	(1,514)	(1,143)
Total operating lease liabilities	$ 18,222	$ 16,602

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Mar. 31, 2024 USD ($)
Leases [Abstract]
Additional operating lease not yet commenced	$ 2.4
Additional operating lease not yet commenced, lease terms (in years)	3 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating Leases
Other non-current assets	$ 17,972	$ 16,279
Accrued liabilities	5,693	5,295
Other long-term liabilities	12,529	11,307
Total operating lease liabilities	$ 18,222	$ 16,602
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Weighted Average Remaining Lease Term	4 years 14 days	3 years 9 months 3 days
Weighted Average Discount Rate	4.30%	4.05%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ 1,550	$ 1,304

Debt - Schedule of Components o

Debt - Schedule of Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Maturities:
Finance lease obligations	$ 8	$ 8
Term debt	15,000	15,000
Total Long-term debt, current maturities	15,008	15,008
Long-term debt:
Finance lease obligations	5	68
Total Long-term debt	306,525	220,269
Total debt	321,533	235,277
Term debt, net
Long-term debt:
Long-term debt, excluding current maturities	216,520	220,201
Bank revolving credit facility | Bank revolving credit facility
Long-term debt:
Long-term debt, excluding current maturities	$ 90,000	$ 0

Debt - Additional Information (

Debt - Additional Information (Details) $ in Millions	Mar. 31, 2024 USD ($)
Standby Letters of Credit
Debt Instrument [Line Items]
Amount of capacity	$ 2.6
Revolving Line of Credit
Debt Instrument [Line Items]
Available borrowings	$ 307.4

Common Stock and Dividends - Di

Common Stock and Dividends - Dividend Declared and Paid (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Dividends declared (in dollars per share)	$ 0.26	$ 0.22
Dividends paid (in dollars per share)	$ 0.26	$ 0.22

Common Stock and Dividends - Ad

Common Stock and Dividends - Additional Information (Details) - $ / shares			3 Months Ended
	Apr. 29, 2024	Apr. 01, 2024	Mar. 31, 2024	Mar. 31, 2023
Class of Stock [Line Items]
Dividends paid (in dollars per share)			$ 0.26	$ 0.22
Dividends declared (in dollars per share)			$ 0.26	$ 0.22
Subsequent Event
Class of Stock [Line Items]
Dividends paid (in dollars per share)	$ 0.26
Dividends declared (in dollars per share)		$ 0.26

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 32,120	$ 33,349
Average Common Shares:
Basic (weighted-average outstanding shares) (in shares)	11,944	11,899
Dilutive potential common shares from stock options (in shares)	76	63
Diluted (weighted-average outstanding shares) (in shares)	12,020	11,962
Basic earnings per share (in dollars per share)	$ 2.69	$ 2.80
Diluted earnings per share (in dollars per share)	$ 2.67	$ 2.79

Revenue and Segment Informati_3

Revenue and Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net Sales	$ 425,586	$ 411,771
Wholegoods
Disaggregation of Revenue [Line Items]
Net Sales	343,579	329,768
Parts
Disaggregation of Revenue [Line Items]
Net Sales	69,501	69,373
Other
Disaggregation of Revenue [Line Items]
Net Sales	$ 12,506	$ 12,630

Revenue and Segment Informati_4

Revenue and Segment Information - Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net Sales	$ 425,586	$ 411,771
United States
Disaggregation of Revenue [Line Items]
Net Sales	293,802	291,579
Canada
Disaggregation of Revenue [Line Items]
Net Sales	38,886	26,865
France
Disaggregation of Revenue [Line Items]
Net Sales	26,172	24,202
United Kingdom
Disaggregation of Revenue [Line Items]
Net Sales	24,211	21,604
Brazil
Disaggregation of Revenue [Line Items]
Net Sales	12,204	11,513
Netherlands
Disaggregation of Revenue [Line Items]
Net Sales	10,344	9,792
Australia
Disaggregation of Revenue [Line Items]
Net Sales	4,504	7,782
Germany
Disaggregation of Revenue [Line Items]
Net Sales	2,819	2,469
Other
Disaggregation of Revenue [Line Items]
Net Sales	$ 12,644	$ 15,965

Revenue and Segment Informati_5

Revenue and Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net Sales	$ 425,586	$ 411,771
Income from Operations	46,979	49,024
Goodwill	205,452		$ 206,536
Total Identifiable Assets	1,519,420		1,409,386
Vegetation Management
Segment Reporting Information [Line Items]
Net Sales	223,747	256,435
Income from Operations	21,679	36,508
Goodwill	128,315		128,899
Total Identifiable Assets	967,698		893,582
Industrial Equipment
Segment Reporting Information [Line Items]
Net Sales	201,839	155,336
Income from Operations	25,300	$ 12,516
Goodwill	77,137		77,637
Total Identifiable Assets	$ 551,722		$ 515,804

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 932,763	$ 785,360
Other comprehensive income (loss) before reclassifications	(6,789)	3,606
Amounts reclassified from accumulated other comprehensive (income) loss	330	808
Other comprehensive income (loss)	(6,459)	4,414
Ending balance	956,556	822,348
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(54,517)	(68,268)
Ending balance	(60,976)	(63,854)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(51,785)	(65,429)
Other comprehensive income (loss) before reclassifications	(7,272)	4,546
Amounts reclassified from accumulated other comprehensive (income) loss	0	0
Other comprehensive income (loss)	(7,272)	4,546
Ending balance	(59,057)	(60,883)
Defined Benefit Plans Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,972)	(3,310)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive (income) loss	235	282
Other comprehensive income (loss)	235	282
Ending balance	(1,737)	(3,028)
Gains (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(760)	471
Other comprehensive income (loss) before reclassifications	483	(940)
Amounts reclassified from accumulated other comprehensive (income) loss	95	526
Other comprehensive income (loss)	578	(414)
Ending balance	$ (182)	$ 57