Lead Director Don Sturdivant Appointed Chairman of the Board, Jim Janik to Continue Serving as DirectorMILWAUKEE, Wis., May 01, 2025 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE: PLOW), North America’s premier manufacturer and upfitter of work truck attachments and equipment, today announced a planned board leadership transition. Current Chairman of the Board, James (Jim) L. Janik, has decided to step down from his role as Chairman, effective April 30, 2025. Mr. Janik will continue to serve as a member ...

Company Overview - Douglas Dynamics, Inc. is North America's premier manufacturer and upfitter of work truck attachments and equipment, with over 75 years of industry experience [3] - The company operates through two segments: Work Truck Attachments, which includes brands like FISHER®, SNOWEX®, and WESTERN®, and Work Truck Solutions, which includes the HENDERSON® and DEJANA® brands [3] Financial Results Announcement - Douglas Dynamics will release its financial results for the first quarter of 2025 after market close on May 5, 2025 [1] - A conference call to discuss these results will take place on May 6, 2025, at 9:00 a.m. Central Time, hosted by the President and CEO Mark Van Genderen and CFO Sarah Lauber [2] Commitment to Quality and Improvement - The company emphasizes continuous improvement through its proprietary Douglas Dynamics Management System (DDMS), aiming to produce high-quality products and provide industry-leading service [3]

Interim President & CEO Jim Janik Returning to Role as Chairman of the Board of DirectorsMILWAUKEE, March 03, 2025 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE: PLOW), North America’s premier manufacturer and upfitter of work truck attachments and equipment, today announced the Board of Directors has appointed Mark Van Genderen as President and Chief Executive Officer (CEO), effective immediately. He will also join the Board of Directors effective immediately. Mr. Van Genderen has been with the company ...

MILWAUKEE, March 03, 2025 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE:PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, today announced the Board of Directors has appointed Mark Van Genderen as President and Chief Executive Officer (CEO), effective immediately. He will also join the Board of Directors effective immediately. Mr. Van Genderen has been with the company for five years, and most recently served as Chief Operating Officer and President of Work ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdict ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q4 2024 Earnings Conference Call February 25, 2025 10:00 AM ET Company Participants Nathan Elwell - Vice President of Investor Relations Jim Janik - Chairman and Interim President and CEO Sarah Lauber - Executive Vice President and CFO Mark Van Genderen - COO and President of Work Truck Attachments Conference Call Participants Mike Shlisky - D. A. Davidson Greg Burns - Sidoti and Co Operator Good day, and welcome to the Douglas Dynamics' Fourth Quarter 2024 Earnings Confer ...

Douglas Dynamics (PLOW) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.41%. A quarter ago, it was expected that this snowplow maker would post earnings of $0.23 per share when it actually produced earnings of $0.24, delivering a surprise of 4.35%.Over the last four quarters, the co ...

Financial Performance - Full Year 2024 Net Sales reached $568.5 million, a slight increase from $568.2 million in 2023[3] - Full Year Net Income increased significantly to $56.2 million, compared to $23.7 million in 2023, driven by a one-time gain of $42.3 million from a sale leaseback transaction[6] - Adjusted EBITDA for 2024 rose 16.4% to $79.3 million, with an Adjusted EBITDA Margin of 14.0%, up from 12.0% in 2023[6] - Adjusted Diluted EPS increased approximately 45% to $1.47, compared to $1.01 in 2023[4] - Net income for the twelve-month period ended December 31, 2024, reached $56,151 thousand, significantly higher than $23,723 thousand in 2023, marking an increase of 136.5%[25] - Adjusted EBITDA for the twelve-month period ended December 31, 2024, was $79,349,000, up from $68,122,000 in 2023, reflecting a growth of 16.5%[31] - Adjusted net income for the twelve-month period ended December 31, 2024, was $35,167,000, compared to $24,370,000 in 2023, marking an increase of 44.3%[34] - The weighted average diluted earnings per share for the twelve-month period ended December 31, 2024, was $2.36, compared to $0.98 in 2023, representing a significant increase of 140.8%[34] Segment Performance - The Work Truck Solutions segment achieved record full year Net Sales of $312.5 million, a 13.0% increase from $276.5 million in 2023[11] - The Work Truck Attachments segment saw a decline in Net Sales to $256.0 million for 2024, down from $291.7 million in 2023, due to low snowfall impacting demand[5] - The company reported an adjusted EBITDA margin of 16.7% for the Work Truck Attachments segment in Q4 2024, compared to 11.1% in Q4 2023[29] - The Work Truck Solutions segment reported net sales of $89,765 thousand for Q4 2024, up from $78,868 thousand in Q4 2023, an increase of 13.5%[29] Cash Flow and Assets - Operating cash flow for the twelve-month period ended December 31, 2024, was $41,131 thousand, compared to $12,469 thousand in 2023, indicating a significant improvement[27] - Free cash flow for the three-month period ended December 31, 2024, was $70,576,000, slightly down from $73,819,000 in 2023, while the twelve-month free cash flow increased to $33,321,000 from $1,948,000 in 2023[37] - The net cash provided by operating activities for the three-month period ended December 31, 2024, was $74,404,000, compared to $76,617,000 in 2023, showing a decrease of 2.9%[37] - Cash and cash equivalents at the end of the period decreased to $5,119 thousand from $24,156 thousand, a decline of 78.8%[27] - The company’s total assets decreased slightly from $593,418 thousand in 2023 to $589,983 thousand in 2024, a decrease of 0.7%[23] Liabilities and Expenses - Total current liabilities decreased from $118,517 thousand in 2023 to $70,192 thousand in 2024, a reduction of 40.7%[23] - The company incurred restructuring and severance costs of $1,997,000 for the twelve-month period ended December 31, 2024, compared to no such costs in 2023[34] - The company reported an interest expense of $3,144,000 for the three-month period ended December 31, 2024, down from $4,468,000 in 2023, indicating a decrease of 29.7%[31] - Stock-based compensation for the three-month period ended December 31, 2024, was $1,233,000, compared to a negative $3,283,000 in 2023, indicating a positive shift in compensation expenses[34] - The company reported a depreciation expense of $2,231,000 for the three-month period ended December 31, 2024, down from $2,852,000 in 2023, reflecting a decrease of 21.8%[31] Future Outlook - Total backlog at the start of 2025 was approximately $348 million, significantly elevated compared to historical averages[6] - The company expects 2025 Net Sales to be between $610 million and $650 million, with Adjusted EBITDA projected to range from $75 million to $95 million[14] Taxation - The effective tax rate for 2024 was 24.0%, an increase from 18.9% in 2023, influenced by a tax benefit related to investment tax credits in the prior year[6] Quarterly Performance - Net sales for the three-month period ended December 31, 2024, increased to $143,549 thousand, up from $134,245 thousand in the same period of 2023, representing a growth of 9.7%[25] - Net income for the three-month period ended December 31, 2024, was $7,907,000, compared to $7,077,000 for the same period in 2023, representing an increase of 11.7%[31] - Gross profit for the twelve-month period ended December 31, 2024, was $146,837 thousand, compared to $134,270 thousand in 2023, reflecting an increase of 9.4%[25]

Core Insights - Douglas Dynamics, Inc. reported strong financial results for the fourth quarter and full year ended December 31, 2024, driven by record performance in Work Truck Solutions and improved margins in Work Truck Attachments [2][3][5] Financial Performance - Net Sales for FY 2024 reached $568.5 million, a slight increase from $568.2 million in FY 2023 [6] - Net Income for FY 2024 was $56.2 million, significantly up from $23.7 million in FY 2023, reflecting a one-time gain of $42.3 million from a sale leaseback transaction [10][5] - Diluted Earnings Per Share (EPS) increased to $2.36 in FY 2024 from $0.98 in FY 2023 [10][5] - Adjusted Net Income and Adjusted Diluted EPS rose approximately 45% to $35.2 million and $1.47, respectively [5][10] Segment Performance - Work Truck Solutions achieved record full-year results with Net Sales of $312.5 million, up from $276.5 million in FY 2023 [12][8] - Work Truck Attachments saw Net Sales decline to $256.0 million from $291.7 million in FY 2023, impacted by low snowfall in previous winters [11][8] - Adjusted EBITDA for Work Truck Solutions increased 75.6% to $30.9 million, while Work Truck Attachments reported Adjusted EBITDA of $48.5 million, down from $50.6 million [12][11] Cost Management and Efficiency - The 2024 Cost Savings Program exceeded expectations, delivering over $10 million in savings [5][6] - Selling, general, and administrative expenses rose to $91.7 million in FY 2024 from $78.8 million in FY 2023, primarily due to one-time costs [6][10] Capital Allocation and Liquidity - Net Cash Provided by Operating Activities increased significantly from $12.5 million in FY 2023 to $41.1 million in FY 2024 [17][10] - Free Cash Flow for FY 2024 was $33.3 million, a substantial improvement from $1.9 million in FY 2023 [17][10] - The leverage ratio improved to 2.4X at the end of FY 2024, down from slightly below 3.5X at the end of FY 2023 [17][10] 2025 Outlook - The company anticipates Net Sales for 2025 to be between $610 million and $650 million, with Adjusted EBITDA expected to range from $75 million to $95 million [18][14] - The effective tax rate for 2025 is projected to be approximately 24% to 25% [18][14]

Core Viewpoint - Douglas Dynamics, Inc. has appointed Chris Bernauer as President of Work Truck Attachments, effective February 28, 2025, highlighting the company's commitment to enhancing its market position and operational excellence [1][3]. Group 1: Leadership Appointment - Chris Bernauer brings over 30 years of experience in manufacturing, engineering, product development, sales, and marketing, with a strong background in the automotive, motorcycle, and marine sectors [2][3]. - Bernauer previously served as President & CEO of Temperature Systems Inc. and held leadership roles at Harris & Cypress Cay Pontoons and Harley-Davidson Motor Company [2][6]. Group 2: Strategic Focus - In his new role, Bernauer will oversee all aspects of Work Truck Attachments, including strategy, operations, and new product development, aiming to build on the company's legacy and create a strong future [3][4]. - The appointment reflects Douglas Dynamics' strategy to advance its market-leading position and deliver sustainable, profitable performance [3][4]. Group 3: Leadership Transition - Bernauer succeeds Mark Van Genderen, who will now concentrate on his responsibilities as Chief Operating Officer while continuing to oversee the company's reporting segments [4].