Douglas Dynamics FY2023 net sales down 8% to $568.2M, net income $23.7M vs $38.6M

DOUGLAS DYNAMICS, INC

2023-FY EPS reported $0.98 revenue$568,178,000

Diluted EPS $0.98 (adjusted $1.01) vs $1.63 (adjusted $1.84) in FY2022; interest expense rose to $15.7M.
Work Truck Attachments hit by record low snowfall; segment net sales fell to $291.7M from $382.3M.
Work Truck Solutions net sales up 18% to $276.5M, Adjusted EBITDA doubled to $17.6M; margins improved.
2024 Cost Savings Program expected to deliver $8M-$10M annualized pre-tax savings, ~$2M restructuring charges.
Q1 2024 dividend $0.295/share declared; FY2024 guidance: revenue $600M-$660M, Adj. EPS $1.20-$2.10.

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 0.95

DOUGLAS DYNAMICS, INC reported the quarter and full year ended December 31, 2023 results: revenue Net Sales of $568.2 million, net income Net Income of $23.7 million, EPS Diluted Earnings per Share of $0.98.

Period: the quarter and full year ended December 31, 2023
Revenue: Net Sales of $568.2 million
Net income: Net Income of $23.7 million
EPS: Diluted Earnings per Share of $0.98
Result: reported results

Exact text from the filing

hindered by unprecedented weather trends ● Implementation of 2024 Cost Savings Program on track to deliver $8 – 10 million in annualized savings ● Delivered Net Sales of $568.2 million, Net Income of $23.7 million, and Diluted Earnings per Share of $0.98 ● Announced 1Q24 quarterly dividend of $0.295 per share ● Outlined 2024 full year outlook February 26, 2024

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Source: SEC EDGAR

accession 0001437749-24-005597

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