Douglas Dynamics Earnings: Here’s Why Investors are Not Happy Now
Douglas Dynamics, Inc. Common S (NYSE:PLOW) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.42%.
Douglas Dynamics, Inc. Common S Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.13 in the quarter versus EPS of $-0.19 in the year-earlier quarter.
Revenue: Rose 64.72% to $14.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Douglas Dynamics, Inc. Common S reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.16. It beat the average revenue estimate of $10.2 million.
Quoting Management: James L. Janik, President and Chief Executive Officer of Douglas Dynamics, commented, “The significant improvement in our first quarter results when compared to the same period last year was driven by several factors. While the timing of snowfall was again less than ideal and snowfall levels were again weak in the fourth quarter of 2012 and January 2013, winter did eventually arrive and we saw stronger and sustained snowfall in core markets during February and March. This led to increased parts and accessories shipments and served to moderate previously elevated distributor inventory levels. In addition, the first quarter of 2012 was particularly weak and set a low bar for us to beat. Overall, I am proud of how our team managed through the record low snowfall environment the past 12 months and am excited about the rest of 2013. As we enter our pre-season order period we know there will be some caution on the part of dealers, but we’re well positioned to capitalize on our new innovative line-up of products and generally stable to improving economic indicators.”
Key Stats (on next page)…