Guys do hug each other. Manly hugs. We usually give a hug when we haven't seen a person we know in a very long time. It's one of the greetings me and my friends do.
The other being one where you greet each other with a firm handshake (usually the right hand), shift the right elbow roughly 90 degrees, lean forward while getting the left hand ready and have the head over the other's shoulder before we proceed to patting each other on the back a few times. There's usually an exchange of "You all right?" and "I'm good/good good" or "Long time no see! Where have you been?" and "It has been long hasn't it? I've been here and there. Uni and all etc etc."
Somewhere between the 'It has been long' part, someone will try sneak in a 'That's what she said!'
Yeah, man hugs.