Douglas Dynamics (PLOW) Tops Q2 EPS by 5c, Raises FY Guidance

Douglas Dynamics (NYSE: PLOW) reported Q2 EPS of $0.57, $0.05 better than the analyst estimate of $0.52. Revenue for the quarter came in at $107.1 million versus the consensus estimate of $103.73 million.

Douglas Dynamics sees FY2015 EPS of $1.70-$2.05, versus the consensus of $1.35. Douglas Dynamics sees FY2015 revenue of $385-420 million, versus prior guidance of $320-380 million and the consensus of $355.17 million.

Outlook

So far, 2015 has exceeded our internal expectations given the difficult comparisons to the record performance of 2014. Based on second quarter results and visibility into current market trends, the Company is increasing its 2015 financial outlook and now expects Adjusted EBITDA for full year 2015 to be in the range of $90 million to $105 million and net sales for full year 2015 to be in the range of $385 million to $420 million. Earnings per share for full year 2015 are expected to range from $1.70 per share to $2.05 per share. It is important to note that the Company's outlook assumes that the economy will remain stable and that the Company's core markets will experience average snowfall levels.

Mr. Janik noted, "We believe that pent-up demand from deferred equipment purchases continued to contribute to our strong first half results. We believe the extreme snowfall season of 2013-2014 unlocked pent-up demand. Furthermore, while the 2014/2015 North American snowfall was lower than the preceding year, it was still well above the historical averages across many core markets. Looking ahead, positive dealer sentiment, strong preseason orders and strong demand for our market-leading products give us the confidence to raise full year sales and earnings guidance for 2015. As always though, the largest variable in our forecast is fourth quarter results, which will be impacted by the magnitude, timing and location of snowfall."

For earnings history and earnings-related data on Douglas Dynamics (PLOW) click here.

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