Douglas Dynamics Q1 net loss $3.9M, reaffirms FY2022 guidance

DOUGLAS DYNAMICS, INC

2022-Q1 EPS reported -$0.18 revenue$102,601,000

Net sales $102.6M, essentially flat YoY; net loss $3.9M vs $0.7M profit in Q1 2021.
Diluted EPS ($0.18); adjusted diluted EPS ($0.11); adjusted EBITDA $4.6M, down from $10.7M.
Work Truck Attachments net sales up 9% to $45.8M, but adj. EBITDA margin fell to 6.6% from 19.6%.
Work Truck Solutions net sales down 7% to $56.8M due to chassis/component shortages.
Reiterated FY2022 guidance: sales $570-630M, adj. EBITDA $70-100M, adj. EPS $1.25-$2.15.

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