Douglas Dynamics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 06:00 pm EDT
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Douglas Dynamics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 144.12 million compared to USD 166.1 million a year ago. Net income was USD 5.79 million compared to USD 13.28 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 0.24 compared to USD 0.56 a year ago.
For the nine months, sales was USD 433.93 million compared to USD 456.26 million a year ago. Net income was USD 16.65 million compared to USD 27.1 million a year ago. Basic earnings per share from continuing operations was USD 0.71 compared to USD 1.16 a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to USD 1.14 a year ago.
Douglas Dynamics, Inc. is a manufacturer and upfitter of commercial work truck attachments and equipment. The Company operates through two segments: Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment is engaged in manufacturing and selling snow and ice control attachments and other products sold under the FISHER, SNOWEX and WESTERN brands, as well as its vertically integrated products. It offers a range of product lines of snowplows and sand and salt spreaders for light trucks. The Work Truck Solutions segment is engaged in manufacturing municipal snow and ice control products under the HENDERSON brand and the upfit of attachments and storage solutions under the HENDERSON brand, and the DEJANA brand and its related sub-brands. Work Truck Solutions products consist of truck and vehicle upfits where it attaches component pieces of equipment, truck bodies, racking, and storage solutions, and which are typically used by end-users for work related purposes.