Douglas Dynamics slumps on downbeat prelim results, outlook

Douglas Dynamics

18/04/2023 15:00

** Shares of U.S.-based manufacturer and upfitter of
commercial work truck equipment Douglas Dynamics  PLOW.N  down
5.3% at $28.25 
    ** Co reports Q1 prelim net sales of $82.5 mln, below
average analysts' estimate of $101.5 mln - Refinitiv IBES
    ** PLOW sees adj qtrly net loss of $0.55/shr, wider than adj
net loss of $0.11/shr in the year-ago quarter
    ** Analysts on average expect co to report a net loss of
0.13 per shr
    ** Lower-than-expected snowfall in PLOW's important markets
negatively impacted first qtr performance - co
    ** Co now sees 2023 net sales between $620 mln and $650 mln
vs avg analysts' estimate of $632.9 mln
    ** PLOW expects 2023 adj earnings to be between $1.55 per
share and $2 apiece, vs avg analysts' estimate of $1.90 
    ** PLOW shares down 19.3% YTD
    

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))