Douglas Dynamics (PLOW) said after close Monday that it earned $0.25 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $144.1 million, missing estimates by $18.7 million.
In the same quarter a year ago, the company earned $0.57 per share on revenue of $166.1 million.
The stock is down 15.40% to $23.63 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 55. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Douglas Dynamics Inc is a manufacturer and upfitter of commercial vehicle attachments and equipment. The product line includes snow plows, sand and salt spreaders for light trucks, and turf-care equipment. The products are sold under the Blizzard, Fisher, Snowex, Western, Turfex, and Sweepex brands. The clients include professional snowplowers who are contracted to remove snow and ice from commercial, municipal, and residential areas. The majority of Douglas Dynamics' operations are focused in the snow-belt regions in North America.
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Douglas Dynamics Down 15.40% To $23.63 After Earnings Miss
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