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Douglas Dynamics, Inc. (NYSE:PLOW) – Douglas Dynamics Q3 Earnings Miss Estimates As Supply Chain Crunch Hits, Trims FY21 Outlook


Douglas Dynamics Q3 Earnings Miss Estimates As Supply Chain Crunch Hits, Trims FY21 Outlook

  • Douglas Dynamics Inc (NYSE: PLOW) reported a third-quarter FY21 gross sales decline of 4.6% year-on-year, to $127.64 million, lacking the analyst consensus of $136.35 million.
  • The income lower was pushed primarily by world provide chain constraints impacting manufacturing and supply within the Options phase.
  • Work Truck Attachments gross sales elevated 6% Y/Y to $81.4 million, and the Work Truck Options phase declined 18.6% Y/Y to $46.3 million.
  • The gross revenue margin declined 350 foundation factors Y/Y to 24%.
  • The working margin was 8.2%, and working earnings for the quarter fell 40.9% to $10.4 million.
  • The corporate held $7.3 million in money and equivalents as of September 30, 2021.
  • Adjusted EBITDA decreased 32.9% Y/Y to $15.5 million, and the adjusted EBITDA margin contracted 510 foundation factors to 12.1%.
  • Adjusted EPS of $0.29 missed the analyst consensus of $0.38.
  • “The provision chain constraints, inflationary pressures, and labor market challenges now we have beforehand mentioned have all elevated in current months, and are anticipated to proceed into 2022,” mentioned CEO Bob McCormick.
  • “Primarily based on the continued macroeconomic headwinds impacting the complete financial system, we’re decreasing the highest finish of our steerage ranges,” he added.
  • Outlook: Douglas Dynamics sees FY21 web gross sales of $525 million – $565 million (prior view $520 million -$580 million), versus the consensus of $553.5 million.
  • The corporate expects FY21 adjusted EPS of $1.40 – $1.90 (prior view $1.40 – $2.20) in opposition to the consensus of $1.95.
  • Value Motion: PLOW shares closed increased by 2.32% at $43.28 on Monday.

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