Alamo Group, Inc. (NYSE:ALG) Q1 2019 Earnings Conference Call - Final Transcript

May 02, 2019 • 11:00 am ET

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Alamo Group, Inc. (NYSE:ALG) Q1 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Alamo Group First Quarter 2019 Earnings Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. (Operator Instructions) This conference is being recorded today, Thursday, May 2, 2019. I will now turn the conference over to Mr. Ed Rizzuti, VP, General Counsel and Secretary of Alamo Group. Sir, please go ahead.

Executive
Edward T. Rizzuti

Thank you. By now, you should have all received a copy of the press release. However, if anyone is missing a copy and would like to receive one, please contact us at 212-827-3773, and we will send you a release and make sure you are on the Company's distribution list. There will be a replay of the call, which will begin one hour after the call and run for one week. The replay can be accessed by dialing 1-888-203-1112, with the passcode 7689407. Additionally, the call is being webcast on the Company's website at www.alamo-group.com, and a replay will be available for 60 days.

On the line with me today are Ron Robinson, President and Chief Executive Officer; Dan Malone, Executive Vice President and Chief Financial Officer; and Richard Wehrle, Vice President, Treasurer and Corporate Controller. Management will make some opening remarks and then we'll open up the line for your questions.

During the call today, management may reference certain non-GAAP numbers in their remarks. Reconciliations of these non-GAAP results to applicable GAAP numbers are included in the attachments to your earnings release.

Before turning the call over to Ron, I'd like to make a few comments about forward-looking statements. We will be making forward-looking statements today that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following market demand, competition, weather, seasonality, currency-related issues, geopolitical issues and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

I would now like to introduce Ron. Ron, please go ahead.

Executive
Ronald A. Robinson

Thank you. And we want to thank all of you for joining us today. Dan Malone, our CFO, will begin our call with the review of our financial results for the first quarter. I will then provide a few comments -- few more comments on the results and the following that we'll look forward to taking your questions. So, Dan, please go ahead.

Executive
Dan E. Malone

Thank you, Ron. Record first quarter 2019 sales of $261.9 million beat the prior year quarter by 10%. Organic sales growth was 8.4% without the impact of the Dutch Power acquisition, which we completed in March. Industrial Division first quarter 2019 sales of $158.4 million represented a