Douglas Dynamics Q3 net sales $144.1M, adj EPS $0.25; lowers 2023 EBITDA outlook to $77-92M

DOUGLAS DYNAMICS, INC

2023-Q3 EPS reported $0.69 revenue$433,933,000

Net sales down 13% YoY to $144.1M; net income $5.8M ($0.24 diluted EPS) vs $13.3M ($0.56) in Q3 2022.
Attachments segment sales fell 30% to $75.9M; adjusted EBITDA margin 16.2% vs 21.2% due to low snowfall and dealer inventory.
Solutions segment sales up 18% to $68.2M; adjusted EBITDA margin improved 350bps to 7.3% on pricing and efficiencies.
2023 guidance lowered: net sales $610-640M (prev $620-650M); adjusted EBITDA $77-92M (prev $85-100M); adj EPS $1.30-1.70 (prev $1.55-2.00).
Paid quarterly dividend of $0.295/share on Sept 29, 2023; free cash flow negative $(71.9)M YTD.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DOUGLAS DYNAMICS, INC reported the third quarter ended September 30, 2023 results: revenue $144.1 million, net income $5.8 million, EPS $0.24 of diluted earnings per share.

Period: the third quarter ended September 30, 2023
Revenue: $144.1 million
Net income: $5.8 million
EPS: $0.24 of diluted earnings per share
Result: reported results

Exact text from the filing

DOUGLAS DYNAMICS REPORTS THIRD QUARTER 2023 RESULTS Work Truck Solutions Improved Both Top and Bottom-Line Results Third Quarter Highlights: ● Produced Net Sales of $144.1 million ● Delivered Net Income of $5.8 million, or $0.24 of Diluted EPS ● Solutions Net Sales increased approximately 18% and Adjusted EBITDA margin improved to 7.3% ● Updated 2023

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Source: SEC EDGAR

accession 0001437749-23-029427

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