Douglas Dynamics, Inc. reports news on its work truck attachments and work truck solutions businesses, including commercial snow and ice control equipment, truck-mounted service cranes, dump hoists, municipal upfit work, and storage solutions. Its portfolio includes FISHER, SNOWEX, WESTERN, HENDERSON, DEJANA, VENCO and VENTURO brands across the Work Truck Attachments and Work Truck Solutions segments.
Recurring developments include operating results, snowfall- and municipal-demand trends, parts and accessories sales, capacity and manufacturing initiatives, completed acquisitions, cash dividends, outlook updates, and board governance changes.
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Douglas Dynamics, a leader in work truck attachments, reported preliminary Q1 2023 results with net sales of $82.5 million, a decline from $102.6 million in Q1 2022. The company faced a net loss of $13.1 million, compared to a loss of $3.9 million the previous year, resulting in a diluted EPS of (0.58). Adjusted EBITDA also decreased to (7.4 million) from $4.6 million. The low snowfall this winter impacted reorder patterns significantly, leading to a downward adjustment in the 2023 financial outlook, now projecting net sales between $620 million and $650 million and adjusted EPS between $1.55 and $2.00.