Douglas Dynamics narrows FY24 adjusted EPS view to $1.20-$1.60 from $1.20-$1.70

Lowers FY24 revenue view to $570M-$600M from $600M-$640M. Consensus is for FY24 EPS $1.55 and for revenue $605.47M. Sees FY24 effective tax rate 24%-25%. Sarah Lauber, Executive Vice President, and CFO explained, “The recent strong performance and positive near-term outlook for Work Truck Solutions means that segment is poised to deliver improved full year results for the third year in a row. Work Truck Attachments performance remains constrained by the elongated replacement cycle, but our manufacturing operations are well aligned to current market conditions. Therefore, we are moving our Net Sales guidance range slightly lower and reducing the top end of our 2024 Adjusted EBITDA and Adjusted EPS guidance ranges.”