Douglas Dynamics (PLOW) Misses Q3 EPS by 9c; Reiterates Outlook
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Douglas Dynamics (NYSE: PLOW) reported Q3 EPS of $0.32, $0.09 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $123.6 million versus the consensus estimate of $131.9 million.
Douglas Dynamics reiterates FY2016 EPS of $1.36-$1.79, versus the consensus of $1.49. Douglas Dynamics sees FY2016 revenue of $395-450 million, versus the consensus of $428.83 million.
James L. Janik, Chairman, President, and Chief Executive Officer explained, “This was a very important quarter in our Company’s history. With the successful completion of the Dejana deal, we have introduced a new segment that focuses on complementary services and products that will be increasingly important to the Company in the years ahead. In addition to creating significant growth opportunities, the Work Truck Solutions segment also supports our efforts to diversify our revenue streams and continues to reduce the influence of weather on our overall business. With the first few months under our belt, we are pushing ahead with the implementation of DDMS, our proprietary management system, and are gratified by the positive attitude of the Dejana team and the initial results we have achieved. We are focused on further reducing their already industry leading lead times and driving productivity improvements and expect to achieve great results in the years ahead.”
Janik added, “Despite experiencing one of the lowest snowfall environments in the past decade this past winter, and having very tough comparisons to our unprecedented performance last year, our Work Truck Attachments segment turned in strong results. This segment performed in line with our expectations in the third quarter following a record performance in the second quarter of 2016, which combined to produce an excellent total pre-season order period that exceeded our initial expectations. While we are diversifying and expanding our portfolio, the snow and ice management business will always be the core of our Company. The levels of quality and service we have consistently produced means we have set a very high bar, not just for our competitors, but the other business units within our Company.”
For earnings history and earnings-related data on Douglas Dynamics (PLOW) click here.
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