What Alamo Group Inc. told the SEC could break it.

Alamo Group manufactures agricultural and industrial maintenance equipment (mowers, vegetation-management gear, excavators, vacuum trucks, street sweepers, snow-removal equipment) across 27 plants, and its principal raw materials are steel, other metal components, hydraulic hoses, paint and tires. It also purchases tractors and truck chassis on which many products are mounted. Steel and metals are the dominant cost inputs, so steel-price swings (and steel/aluminum tariffs) flow directly into COGS and margins; the company notes raw materials were available at prevailing market prices in 2025 but remains affected by supply-chain conditions. A core metals-commodity input dependence (no single supplier exceeds 10% of purchases).

“The principal raw materials used by the Company include steel, other metal components, hydraulic hoses, paint and tires.”

Alamo Group flags trade-policy risk: the U.S. has made significant changes in its trade policy and taken actions affecting trade with China and other partners, including imposing tariffs on certain imported goods, and warns that further changes could trigger retaliatory 'trade wars' leading to reduced economic activity, increased costs, reduced demand, and changed purchasing behavior for its products. As a metals-intensive equipment manufacturer that imports some components and chassis (and sources globally across 27 plants), tariffs on steel and imported goods raise its input costs, while retaliatory tariffs could dampen export/agricultural demand. A specific trade-policy exposure on a steel-heavy supply chain.

“The U.S. has made significant changes in its trade policy and has taken certain actions that have impacted U.S. trade and relationships with China and other trading partners, including imposing tariffs on certain goods imported into the U.S.”