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Sep 30, 2021
Douglas Dynamics Q3 2021 Earnings Report
Reported third quarter results impacted by supply chain constraints and inflationary pressures.
Key Takeaways
Douglas Dynamics reported net sales of $127.6 million and diluted GAAP earnings per share of $0.30 for the third quarter of 2021. The Attachments segment showed strong year-to-date performance, while the Solutions segment experienced strong demand and record backlog, but was impacted by supply chain constraints.
Net sales reached $127.6 million.
Diluted GAAP earnings per share were $0.30.
Attachments segment continued its strong year-to-date performance.
Solutions segment experienced strong demand and record backlog, but production was impacted by supply chain constraints.
Forward Guidance
The company is lowering the top end of its guidance ranges due to ongoing macroeconomic headwinds. Demand remains exceptionally strong, with record backlog in the Solutions segment, coupled with the ongoing resilience of the Attachments segment.
Positive Outlook
- Net Sales are expected to be between $525 million and $565 million.
- Adjusted EBITDA is predicted to range from $75 million to $90 million.
- Adjusted Earnings Per Share are expected to be in the range of $1.40 per share to $1.90 per share.
- The effective tax rate is now expected to be approximately 15% to 17%.
- Outlook assumes relatively stable economic conditions and close to average snowfall levels in 4Q21.
Challenges Ahead
- Ongoing macroeconomic headwinds impacting the entire economy.
- Supply chain constraints.
- Inflationary pressures.
- Labor market challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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