Douglas Dynamics Q1 net sales up 16%, net loss narrows; expands cost savings program to $10M+ annualized

DOUGLAS DYNAMICS, INC

2024-Q1 EPS reported -$0.37 revenue$95,655,000

Net sales $95.7M (+16% YoY); net loss improved to $(8.4)M from $(13.1)M; diluted EPS $(0.37) vs $(0.58).
Adjusted EBITDA swung to $1.5M from $(7.4)M; Solutions segment EBITDA margin hit 8.4%, highest Q1 since 2019.
Expanded 2024 Cost Savings Program to deliver $10+ million sustainable annualized savings; $8-9M expected in 2024.
Updated FY2024 outlook: net sales $600-640M (prev $600-660M), adj. EBITDA $70-90M (prev $70-100M), adj. EPS $1.20-1.70 (prev $1.20-2.10).
Quarterly dividend of $0.295/share paid March 29; credit facility leverage covenant temporarily increased to 4.0x.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DOUGLAS DYNAMICS, INC reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 29, 2024, Douglas Dynamics, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001437749-24-013796

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