Douglas Dynamics Reports Q2 Earnings Beat
Shares of Douglas Dynamics (NYSE: PLOW) are trading flat in the after-hours following the release of the company's Q2 earnings results. Currently, shares are bid $12.25, at $13.81; they ended the regular session lower by 10.65%, at $12.58.
Douglas Dynamics reported Q2 EPS of $0.49 on revenues of $71.6 million; the Street was looking for $0.44 per share on revenues of $65.6 million. Revenues increased 8.2% year over year.
James L. Janik, President and Chief Executive Officer of Douglas Dynamics commented, "We are pleased with our second quarter performance in which certain stockholders successfully completed a secondary offering, restructured our debt agreement and delivered solid financial results. During the quarter, we achieved a year-over-year increase in equipment shipments and parts and accessories across our core markets.”
“We continue to see cautious optimism from our distributors, which is translating into improved results as they begin to prepare for the winter retail selling season."
Douglas Dynamics, Inc. is engaged in the design, manufacture and sale of snow and ice control equipment for light trucks, which consists of snowplows and sand and salt spreaders, and related parts and accessories.
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