Douglas Dynamics 株価情報 (NYSE: PLOW)

最新ニュース Douglas Dynamics (NYSE:PLOW) 株価情報

Douglas Dynamics

Douglas Dynamics Inc is a manufacturer and upfitter of commercial vehicle attachments and equipment. The Company's portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, HENDERSON, SNOWEX, and WESTERN brands, turf care equipment under the TURFEX brand, and industrial maintenance equipment under the SWEEPEX brand. The Company's portfolio also includes the upfit of attachments and storage solutions under the HENDERSON brand, and the DEJANA brand and its related sub-brands. The Company also leases fifteen manufacturing upfit and service facilities located in Iowa, Maryland, Missouri, New Jersey, New York, Ohio, Pennsylvania, and Rhode Island. The Company conducts business in two segments: Work Truck Attachments and Work Truck Solutions.

Douglas Dynamics Inc

U.S. stock futures were lower this morning, with the Dow futures falling around 50 points on Friday.
Shares of Smith &amp; Wesson Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) fell sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/insights/earnings/24/12/42351795/smith-wesson-brands-q2-earnings-insights">second-quarter results</a>.
The company posted net sales of $129.7 million, an increase of 3.8%, over the year-ago period and 46.8%, over the previous quarter.
Smith &amp; Wesson Brands shares dipped 15.8% to $11.48 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
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<li>Oriental Rise Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORIS#NASDAQ">ORIS</a>) shares tumbled 81.2%</li>
<li> to $10.50 in pre-market trading after surging 599% on Thursday.</li>
<li>zSpace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZSPC#NASDAQ">ZSPC</a>) declined 31.7% to $15.01 in pre-market trading after jumping 340% on Thursday.</li>
<li>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) shares tumbled 10.6% to $49.29 in pre-market trading following third-quarter results.</li>
<li>8&#215;8, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGHT#NASDAQ">EGHT</a>) fell 6.2% to $2.87 in pre-market trading.</li>
<li>UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) dipped 4.1% to $14.34 in pre-market trading following third-quarter results.</li>
<li>Douglas Dynamics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) fell 4% to $24.31 in pre-market trading.</li>
<li>Movado Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOV#NYSE">MOV</a>) dropped 3.3% to $20.11 in pre-market trading. The company, on Thursday, reported third-quarter results.</li>
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Shares of machinery companies are trading higher. Investors may be reacting to the US presidential election and its impact on the industry.

Baird analyst Timothy Wojs maintains Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) with a Neutral and lowers the price target from $30 to $26.

Price Target

Analyst Ratings

Baird Maintains Neutral on Douglas Dynamics, Lowers Price Target to $26

Douglas Dynamics shares are trading lower after the company reported worse than expected net sales guidance for FY24.

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) narrows FY2024 Adj EPS guidance from $1.20-1.70 to $1.20-1.60 vs $1.55 analyst estimate. Lowers FY2024 sales outlook from $600.00 million-640.00 million to $570.00 million-600.00 million vs $605.47 million estimate.

Guidance

Douglas Dynamics Narrows FY2024 Adj EPS Guidance from $1.20-1.70 to $1.20-1.60 vs $1.55 Est; Lowers FY2024 Sales Guidance from $600.00M-640.00M to $570.00M-600.00M vs $605.47M Est

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.21 by 14.29 percent. This is a 4 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $129.398 million which missed the analyst consensus estimate of $141.200 million by 8.36 percent. This is a 10.22 percent decrease over sales of $144.121 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Douglas Dynamics Q3 2024 Adj. EPS $0.24 Beats $0.21 Estimate, Sales $129.398M Miss $141.200M Estimate

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) will release its quarterly earnings report on Monday, 2024-10-28. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Douglas Dynamics to report an earnings per share (EPS) of $0.21.
Investors in Douglas Dynamics are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings History Snapshot</h3>
The company's EPS beat by $0.45 in the last quarter, leading to a 16.28% increase in the share price on the following day.
Here's a look at Douglas Dynamics's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.66</td>
<td>-0.30</td>
<td>0.59</td>
<td>0.47</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.11</td>
<td>-0.29</td>
<td>0.19</td>
<td>0.25</td>
</tr>
<tr>
<td>Price Change %</td>
<td>16.0%</td>
<td>1.0%</td>
<td>6.0%</td>
<td>-13.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729879337_0.png" alt="eps graph" />
<h3>Tracking Douglas Dynamics's Stock Performance</h3>
Shares of Douglas Dynamics were trading at $25.57 as of October 24. Over the last 52-week period, shares are down 8.16%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/PLOW/earnings">To track all earnings releases for Douglas Dynamics visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Douglas Dynamics's Earnings Expectations

THOR Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tho#NYSE">THO</a>) has solidified its leadership in recreational vehicle (RV) innovation by introducing the THOR Test Vehicle, the world&#39;s first hybrid Class A motorhome. Built on an electric vehicle&nbsp;platform developed in collaboration with EV manufacturer Harbinger, the vehicle features a low-emissions gasoline range extender capable of recharging the battery system, with an estimated range of 500 miles.
The hybrid RVs will be available in 2025 through the THOR family of companies and are expected to meet Near-Zero Emission Vehicle standards under Advanced Clean Truck legislation adopted by the California Air Resources Board. Per Bob Martin, president and CEO of THOR Industries, the innovative hybrid platform and the ongoing partnership with Harbinger underscore THOR&#39;s leadership and introduce significant product differentiation.
The THOR Test Vehicle is uniquely designed for RV range requirements, exclusively for THOR. This is the first electrified chassis specifically tailored for Class A motorhomes. This platform aims to reduce range anxiety while enhancing travel freedom and sustainability. The hybrid chassis is powered by a 140-kWh battery pack, supplemented by a gasoline range extender and solar rooftop. Its 800-volt electrical system enables fast charging at DC Fast Charger stations, which aids extended travel. Charging can also occur at campsites, through the range extender, or via solar energy to provide flexibility for both on-road and off-grid use.
The hybrid platform can serve as a backup power source for homes and may eventually allow users to sell excess energy back to the grid. The electric powertrain delivers exceptional acceleration and torque, providing up to twice the torque of a diesel engine, ensuring strong highway performance on mountain roads and tough terrain. Harbinger&#39;s chassis design includes all the core systems of an EV, such as the drivetrain, high-voltage battery system, steering and brakes. With a double-wishbone front suspension, a steer-by-wire system and an advanced driver assistance system, the chassis ensures a smooth and safe ride, even for large vehicles.
The THOR Test Vehicle is available for test drives by RV dealers on the THOR RV Experience Track at the Elkhart Dealer Open House, the largest dealer event in North America, from Monday, Sept. 23, 2024, in Elkhart, IN. Dealers will get to experience this future-forward RV and contribute to its market launch.
<h2>THO&#39;s Zacks Rank &amp; Key Picks</h2>
THO currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 earnings suggests year-over-year growth of 60.4%. EPS estimates for 2024 have improved 15 cents in the past 60 days.
<a href="https://www.zacks.com/stock/news/2340663/thor-harbinger-introduce-world-s-first-hybrid-class-a-motorhome?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2340663">To read this article on Zacks.com click here.</a>

Mid Cap

Small Cap

Tech

BLBD

DORM

THOR & Harbinger Introduce World's First Hybrid Class A Motorhome

Chief Human Resources Officer, Linda Evans, has announced her intent to retire on January 2, 2025, and Shannan Vlieger has been named Senior Vice President, People and Culture, effective October 1, 2024.

Management

Douglas Dynamics Names Mark Van Genderen As COO Of Company And President Of Work Truck Attachments, Effective Immediately

Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) reported second-quarter 2024 adjusted earnings per ADS of 20 cents, down from 36 cents reported in the year-ago quarter. Rising costs and price reductions due to higher competition amid falling EV demand resulted in a year-over-year decline. The China-based EV maker generated total revenues of $4.36 billion, up from $3.95 billion reported in the year-ago quarter on higher year-over-year vehicle deliveries. It sold 108,581 units, up from 86,533 in the second quarter of 2023.
The company reported gross profit of $850 million, down from $859.9 million in the year-ago quarter. The gross margin fell to 19.5% compared with 21.8% in the second quarter of 2023 due to a dip in vehicle margin. Research and development expenses rose to $416.6 million from $334.5 million in the second quarter of 2023 due to higher expenses to support the expanding range of products and technologies as well as increased employee compensation resulting from a larger workforce. Selling, general and administrative expenses increased to $387.4 million from $318.5 million in the year-ago period due to increased employee compensation and higher rental and other expenses on sales and servicing network expansion.
As of June 30, 2024, Li Auto had cash and cash equivalents of $11.12 billion, up from $8.38 billion as of June 30, 2023. It had a long-term debt of $1.1 billion compared with $199.9 million as of June 30, 2023.
In the second quarter of 2024, net cash used in operating activities was $59.1 million compared with net cash provided by operating activities of $1.53 billion in the second quarter of 2023. In the second quarter of 2024, Li Auto reported a negative free cash flow of $254.9 million compared with a positive free cash flow of $1.33 billion reported in the second quarter of 2023.
Li Auto&#39;s second-quarter results were also adversely affected by the costs associated with ramping up production of the new Li L6 five-seat family SUV. However, the company anticipates improvements in margins and cash flow in the second half of the year as Li L6 production stabilizes and measures to reduce costs and enhance efficiency are fully implemented. For the third quarter of 2024, Li Auto expects total vehicle deliveries in the range of 145,000-155,000, suggesting a rise of 38-47.5% from the third quarter of 2023. It expects total revenues in the range of $5.4-$5.8 billion, indicating a rise of 13.6-22.1% from the year-ago quarter.
<h2>Zacks Rank &amp; Key Picks</h2>
LI currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), Blue Bird Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blbd#NASDAQ">BLBD</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD&#39;s 2024 sales and earnings suggests year-over-year growth of 17.58% and 215.89%, respectively. EPS estimates for 2024 and 2025 have improved 65 cents and 80 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 earnings suggests year-over-year growth of 60.4%. EPS estimates for 2024 have improved 15 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2329104/li-auto-q2-earnings-fall-y-y-due-to-higher-costs-pricing-pressures?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2329104">To read this article on Zacks.com click here.</a>

Large Cap

Li Auto Q2 Earnings Fall Y/Y Due to Higher Costs & Pricing Pressures

Toyota Motor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) and BMW AG (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bmwyy#OTC">BMWYY</a>) are set to deepen their collaboration on fuel cell vehicles (FCV) to boost the competitiveness of their hydrogen-powered cars.
Per Nikkei Asia, under this expanded partnership, which is expected to be officially announced on Sept. 5, 2024, Toyota will supply essential components like hydrogen tanks and fuel cell systems to BMW, which will then manufacture and sell mass-produced FCVs over the next few years.
Toyota and BMW originally teamed up on FCV development in 2012 to create greener vehicles amid stricter environmental regulations. Hydrogen fuel-cell vehicles produce only water as emissions and don&#39;t face the range anxiety associated with battery electric vehicles (BEVs). They also refuel as quickly as traditional internal-combustion-engine vehicles. However, FCVs are currently expensive to produce, resulting in low profit margins, and require hydrogen storage at extremely low temperatures. The expanded partnership aims to standardize components and reduce the cost of FCVs, which have struggled to gain popularity due to affordability issues.
Toyota, a leader in FCV technology, launched the world&#39;s first mass-produced FCV, the Mirai, in 2014. However, due to the high price of the model of more than 7 million yen compared with the average car price in Japan of 2.64 million yen in 2023, TM sold only about 26,000 units since then, making a small fraction of the company&#39;s total annual sales of more than 10 million vehicles.
Per WardsAuto, BMW has developed a concept FCV, the iX5 Hydrogen, which features two hydrogen tanks and offers a range of more than 310 miles, with a refueling time of just 3-4 minutes. Incorporating Toyota&#39;s fuel cell system could help BMW accelerate the iX5 Hydrogen&#39;s production timeline. Despite the potential of FCVs, they have not yet achieved widespread success, mainly due to the scarcity of hydrogen refueling stations. The expanded alliance is also expected to focus on the development of hydrogen infrastructure in Europe. Per the European Automobile Manufacturers&#39; Association, there are currently only 270 hydrogen filling stations, much less than 632,000 public BEV charging stations in the European Union as of the end of 2023.
<h2>Zacks Rank &amp; Key Picks</h2>
TM &amp; BMWYY currently carry a Zacks Rank #3 (Hold) each.
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 51 cents and 37 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 earnings suggests year-over-year growth of 60.4%. EPS estimates for 2024 have improved 15 cents in the past 30 days.
<a href="https://www.zacks.com/stock/news/2328316/toyota-bmw-to-solidify-partnership-to-expedite-fcv-development?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2328316">To read this article on Zacks.com click here.</a>

BMWYY

Toyota & BMW to Solidify Partnership to Expedite FCV Development

Shares of Magna International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mga#NYSE">MGA</a>) have lost 7.9% since the company reported second-quarter 2024 results. The auto equipment provider reported adjusted earnings of $1.35 per share, which declined from the year-ago quarter&#39;s $1.50 and missed the Zacks Consensus Estimate of $1.46.
Net sales remained flat year over year at $11 billion and missed the Zacks Consensus Estimate of $11.11 billion.
<div class="chart_embed">
<h3>Magna International Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Magna International Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/84/1723643008.png" style="height:268px; width:574px" title="" />
Magna International Inc. price-consensus-eps-surprise-chart | Magna International Inc. Quote
</div>
<h3>Segmental Performance</h3>
The Body Exteriors &amp; Structures segment&#39;s revenues were $4.47 billion, down 2% year over year. This can be attributed to the end of production of certain programs, the weakening of foreign currencies against the U.S. dollar and customer price concessions. Revenues also lagged the Zacks Consensus Estimate of $4.59 billion. The segment reported an adjusted EBIT of $341 million, down from $394 million recorded in the year-ago period. The metric also missed the Zacks Consensus Estimate of $371 million because of higher production input costs net of customer recoveries, reduced earnings on lower sales and higher supply chain and restructuring costs.
The Power &amp; Vision segment&#39;s revenues increased 13.4% year over year to $3.93 billion on higher production on certain programs, smart pricing, the launch of new programs and benefits from acquisitions. The metric, however, missed the Zacks Consensus Estimate of $3.96 billion. Segmental adjusted EBIT rose from $124 million to $198 million due to an increase in earnings on higher sales and lower engineering costs. The metric, however, missed the Zacks Consensus Estimate of $214 million.
Revenues from the Seating Systems segment fell 9.2% year over year to $1.46 billion and missed the Zacks Consensus Estimate of $1.51 billion on customer price concessions, the end of production of certain programs and net weakening of foreign currencies against the U.S. dollar. Segmental adjusted EBIT fell from $67 million to $53 million due to reduced earnings on lower sales. The metric, however, surpassed the Zacks Consensus Estimate of $52 million.
The Complete Vehicles segment&#39;s revenues decreased 18.6% year over year to $1.24 billion and missed the Zacks Consensus Estimate of $1.26 billion due to lower assembly volumes. The segment reported an adjusted EBIT of $20 million, which fell from the $34 million reported in the year-ago period but outpaced the Zacks Consensus Estimate of $5.55 million.
<h3>Financials</h3>
Magna had $999 million in cash and cash equivalents as of Jun 30, 2024, down from $1.2 billion as of Dec 31, 2023. As of Jun 30, 2024, long-term debt was $4.86 billion, up from $4.18 billion as of Dec 31, 2023.
In the reported quarter, cash provided from operating activities totaled $736 million, up from the year-ago figure of $547 million.
The company declared a second-quarter dividend of 47.5 cents per common share. The dividend will be paid on Aug 30, 2024, to shareholders of record as of Aug 16, 2024.
<h3>Updated 2024 View</h3>
Magna has revised its full-year projections. It now expects 2024 revenues in the band of $42.5-$44.1 billion, down from $42.6-$44.2 billion guided earlier. Adjusted EBIT margin is now projected in the band of 5.4-5.8%, down from the earlier estimate of 5.4-6%. Adjusted net income is estimated between $1.5 billion and $1.7 billion. Capex is projected in the band of $2.3-$2.4 billion, down from the previous estimate of $2.4-$2.5 billion.
<h3>Zacks Rank &amp; Key Picks</h3>
MGA currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests a year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 4 cents each in the past seven days.
The Zacks Consensus Estimate for BYDDY&#39;s 2024 sales and earnings suggests year-over-year growth of 21.11% and 14.73%, respectively. EPS estimates for 2024 and 2025 have improved 14 cents and 19 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.
<a href="https://www.zacks.com/stock/news/2322137/magna-mga-shares-fall-7-9-since-q2-earnings-miss-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2322137">To read this article on Zacks.com click here.</a>

Dividends

BYDDY

Magna Shares Fall 7.9% Since Q2 Earnings Miss Estimates

Shares of Goodyear Tire (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gt#NASDAQ">GT</a>) plunged 33.5% since the company reported second-quarter 2024 results. It reported second-quarter 2024 adjusted earnings per share of 19 cents, surpassing the Zacks Consensus Estimate of 9 cents. The company had incurred a loss of 34 cents in the year-ago quarter.
The company generated net revenues of $4.57 billion, which declined 6.1% on a year-over-year basis and missed the Zacks Consensus Estimate of $4.79 billion due to lower replacement volume.
In the reported quarter, tire volume was 40.1 million units, down 1.7% from the year-ago period&#39;s levels.
<div class="chart_embed">
<h3>The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise</h3>
<img alt="The Goodyear Tire &amp; Rubber Company Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1723551225.png" style="height:268px; width:568px" title="" />
The Goodyear Tire &amp; Rubber Company price-consensus-eps-surprise-chart | The Goodyear Tire &amp; Rubber Company Quote
</div>
<h3>Segmental Performance</h3>
In the reported quarter, the Americas segment generated revenues of $2.69 billion, which declined 8.2% year over year and missed our estimate of $2.82 billion due to lower replacement volume and unfavorable price/mix. The segment registered an operating income of $241 million, which surged 134% from the year-ago period&#39;s figures. The operating margin benefited from lower transportation costs, Goodyear Forward initiatives and favorable net price/mix. The figure surpassed our expectation of $224.4 million.
Revenues in the Europe, Middle East and Africa segment were $1.28 billion, down 4.6% from the year-ago period&#39;s levels due to the adverse impact of foreign currency exchange rates and lower replacement volume. The figure also missed our estimate of $1.35 billion. The operating income for the segment was $35 million, which rose 284.2% on a year-over-year basis due to favorable net price/mix, a net gain on insurance recoveries and the Goodyear Forward plan.
Revenues in the Asia Pacific segment rose 1.2% year over year to $594 million due to higher original equipment volume but missed our estimate of $615.3 million. The segment&#39;s operating profit was $63 million, up 57.5% from the year-ago quarter&#39;s figure due to favorable net price/mix, higher volume and benefits from the Goodyear Forward plan. The figure, however, missed our estimate of $65.2 million.
<h3>Financial Position</h3>
Selling, general &amp; administrative expenses rose to $731 million from $708 million in the year-ago period.
Goodyear had cash and cash equivalents of $789 million as of Jun 30, 2024, down from $902 million as of Dec 31, 2023.
Long-term debt and finance leases amounted to $6.83 billion as of Jun 30, 2024, the same as of Dec 31, 2023.
Capital expenditure in the quarter was $634 million, up from $536 million reported in the year-ago quarter.
<h3>Updated 2024 Outlook</h3>
Based on recent commodity rates, the company expects a benefit of $260 million on raw material costs in 2024, down from the previous estimate of a benefit of $325-$350 million.
Capital expenditures are expected to be $1.25 billion compared with the previous estimate of $1.2-$1.3 billion.
For the full year, interest expenses are estimated between $510 million and $530 million, down from the previously guided range of $520-$540 million. Depreciation and amortization is expected to be $1 billion.
<h3>Zacks Rank &amp; Key Picks</h3>
GT currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>), BYD Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and Douglas Dynamics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/plow#NYSE">PLOW</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
The consensus estimate for DORM&#39;s 2024 sales and earnings suggests a year-over-year growth of 3.71% and 35.46%, respectively. EPS estimates for 2024 and 2025 have improved 20 cents and 22 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for BYDDY&#39;s 2024 sales and earnings suggests year-over-year growth of 21.11% and 14.73%, respectively. EPS estimates for 2024 and 2025 have improved 14 cents and 19 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for PLOW&#39;s 2024 sales and earnings suggests year-over-year growth of 6.45% and 60.4%, respectively. EPS estimates for 2024 and 2025 have improved 15 cents and 2 cents, respectively, in the past 30 days.
<a href="https://www.zacks.com/stock/news/2321365/goodyear-s-gt-shares-fall-33-5-since-q2-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2321365">To read this article on Zacks.com click here.</a>

Goodyear's Shares Fall 33.5% Since Q2 Earnings Beat

Douglas Dynamics shares are trading higher following better-than-expected Q2 financial results.

&quot;Although preseason orders came in somewhat softer than expected, we are maintaining our 2024&nbsp;guidance&nbsp;ranges based on strong Solutions performance and successful realization of savings early into our 2024 Cost Savings Program,&quot; explained Sarah Lauber, Executive Vice President and CFO.&nbsp;
&quot;The Solutions segment produced strong year-over-year improvements in the first half of the year and expects the second half of 2024 to be similar to the same period in 2023. The Solutions team maintains a strong backlog and solid demand, and remains on track to deliver improved full year results for the third year in a row.&quot;

Reported Earlier, Douglas Dynamics Maintains 2024 Guidance Ranges For Net Sales To Be $600M - $640M (Est $613.73M), Adjusted EPS To Be $1.20 - $1.70 (Est $1.42)

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) reported quarterly earnings of $1.11 per share which beat the analyst consensus estimate of $0.66 by 68.18 percent. This is unchanged from the same period last year. The company reported quarterly sales of $199.902 million which beat the analyst consensus estimate of $182.767 million by 9.38 percent. This is a 3.55 percent decrease over sales of $207.267 million the same period last year.

Douglas Dynamics Q2 2024 Adj. EPS $1.11 Beats $0.66 Estimate, Sales $199.902M Beat $182.767M Estimate

Douglas Dynamics Appoints James Janik As Interim President And CEO

DA Davidson analyst Michael Shlisky maintains Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) with a Buy and maintains $31 price target.

DA Davidson Maintains Buy on Douglas Dynamics, Maintains $31 Price Target

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) narrows FY2024 Adj EPS guidance from $1.20-2.10 to $1.20-1.70 vs $1.49 analyst estimate. Narrows FY2024 sales outlook from $600.00 million-660.00 million to $600.00 million-640.00 million vs $610.83 million estimate.

Douglas Dynamics Narrows FY2024 Adj EPS Guidance From $1.20-$2.10 To $1.20-$1.70 Vs $1.49 Est; Narrows FY2024 Sales Guidance From $600M-$660M To $600M-$640M Vs $610.83M Est

Douglas Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLOW#NYSE">PLOW</a>) reported quarterly losses of $(0.29) per share which beat the analyst consensus estimate of $(0.30) by 3.33 percent. This is a 47.27 percent increase over losses of $(0.55) per share from the same period last year. The company reported quarterly sales of $95.655 million which beat the analyst consensus estimate of $91.467 million by 4.58 percent. This is a 15.88 percent increase over sales of $82.545 million the same period last year.

Douglas Dynamics Q1 2024 Adj EPS $(0.29) Beats $(0.30) Estimate, Sales $95.655M Beat $91.467M Estimate

Douglas Dynamics, Inc. (PLOW) Q3 2024 Earnings Call Transcript

Douglas Dynamics ( ($PLOW) ) has realeased its Q3 earnings. Here is a breakdown of the information Douglas Dynamics presented to its investors. Dou...

Douglas Dynamics: Solid Q3 2024 Performance and Outlook

Douglas Dynamics (PLOW) has disclosed a new risk, in the Accounting & Financial Operations category. Douglas Dynamics faces a business risk with th...

Douglas Dynamics' ERP Overhaul at Dejana: Navigating Financial Reporting Risks and Delays

The great auto sector unwind: EV stocks fall while ICE suppliers and Ford gain

Douglas Dynamics: Positioned For Recovery Amid Cyclical Challenges

Douglas Dynamics declares $0.295 dividend

Douglas Dynamics ( ($PLOW) ) just unveiled an update. Douglas Dynamics has announced that Linda R. Evans, its Chief Human Resources Officer, will r...

Douglas Dynamics Announces Retirement of HR Chief

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Douglas Dynamics: Tactical Play With Heavy Snowfall Winter

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Press Releases

Douglas Dynamics Declares Quarterly Cash Dividend

Douglas Dynamics Announces Second Quarter 2024 Earnings Release and Conference Call

Douglas Dynamics Reports Second Quarter 2024 Results

Douglas Dynamics Completes $64.2 Million Sale-Leaseback Transaction with TPG Angelo Gordon

Douglas Dynamics Announces Senior Management Team Changes

Douglas Dynamics Announces Third Quarter 2024 Earnings Release and Conference Call

Douglas Dynamics Reports Third Quarter 2024 Results

Douglas Dynamics Announces Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

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