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Jun 30, 2022
Douglas Dynamics Q2 2022 Earnings Report
Douglas Dynamics reported strong second quarter results driven by the strength of the Work Truck Attachments segment.
Key Takeaways
Douglas Dynamics reported a record net sales of $187.6 million, a 19.1% increase compared to 2Q21. Net income increased 25.7% to $17.7 million, or $0.75 of Diluted EPS.
Record Net Sales of $187.6 Million, a 19.1% increase compared to 2Q21
Net Income increased 25.7% to $17.7 million, or $0.75 of Diluted EPS
Adjusted EBITDA increased to $34.1 million
Narrowed 2022 guidance towards the middle
Revenue by Segment
Forward Guidance
Based on our first half results and outlook for the second half of the year, we are narrowing our guidance ranges towards the middle. Demand for our products and services remains robust and we continue to drive operational improvements and expand our offerings in both segments to bolster our market leading positions. We remain poised to fully satisfy demand when external headwinds dissipate.
Positive Outlook
- Net Sales are expected to be between $590 million and $630 million.
- Adjusted EBITDA is predicted to range from $75 million to $95 million.
- Adjusted Earnings Per Share are expected to be in the range of $1.40 per share to $2.00 per share.
- The effective tax rate is expected to be approximately 25% to 26%.
- The outlook assumes relatively stable economic conditions and the Company’s core markets will experience average snowfall levels in fourth quarter 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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