Douglas Dynamics Full Year 2024 Earnings: Revenues Disappoint

Douglas Dynamics (NYSE:PLOW) Full Year 2024 Results

Key Financial Results

• Revenue: US$568.5m (flat on FY 2023).
• Net income: US$55.1m (up 137% from FY 2023).
• Profit margin: 9.7% (up from 4.1% in FY 2023).
• EPS: US$2.39 (up from US$1.01 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Douglas Dynamics Revenues Disappoint

Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Work Truck Solutions segment contributing a total revenue of US$312.5m (55% of total revenue). Notably, cost of sales worth US$421.7m amounted to 74% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$87.6m (88% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$7.43m. Explore how PLOW's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's shares are up 6.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Douglas Dynamics (1 makes us a bit uncomfortable!) that you should be aware of.

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