Douglas Dynamics reports Q1 net loss of $13.1M, cuts 2023 guidance on low snowfall

DOUGLAS DYNAMICS, INC

2023-Q1 EPS reported -$0.58 revenue$82,545,000

Q1 net sales $82.5M (down 20% YoY from $102.6M); net loss $13.1M vs $3.9M loss; diluted EPS $(0.58).
Adjusted EBITDA loss $7.4M vs positive $4.6M in prior year; adjusted diluted EPS $(0.55) vs $(0.11).
Low snowfall in core East Coast markets drove weak reorder patterns and expected lower pre-season orders.
Updated 2023 guidance: net sales $620-650M, adjusted EBITDA $85-100M, adjusted EPS $1.55-2.00.
Management reaffirms commitment to $3.00 EPS target by 2025; earnings call set for May 2, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DOUGLAS DYNAMICS, INC reported full year ending December 31, 2023 results: revenue $620 million to $650 million, EPS $1.55 per share to $2.00 per share. Guidance lowered.

Period: full year ending December 31, 2023
Revenue: $620 million to $650 million
EPS: $1.55 per share to $2.00 per share
Guidance: lowered
Result: guidance update

Exact text from the filing

Updated 2023 financial outlook: ● Net Sales are expected to be between $620 million and $650 million. ● Adjusted EBITDA is predicted to range from $85 million to $100 million. ● Adjusted Earnings Per Share are expected to be in the range of $1.55 per share to $2.00 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DOUGLAS DYNAMICS, INC reported quarter ended March 31, 2023 results: revenue $82.5, net income $(13.1), EPS $(0.58).

Period: quarter ended March 31, 2023
Revenue: $82.5
Net income: $(13.1)
EPS: $(0.58)
Result: preliminary results

Exact text from the filing

today announced preliminary results for the quarter ended March 31, 2023, and updated its 2023 financial outlook. Preliminary Consolidated First Quarter 2023 Results $ in millions (except EPS) Q1 2023 Q1 2022 Net Sales $82.5 $102.6 Net Loss $(13.1) $(3.9) Diluted EPS $(0.58) $(0.18)

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Source: SEC EDGAR

accession 0001437749-23-010452

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