Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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 number: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdic ...

Financial Data and Key Metrics Changes - The company reported record second quarter net sales of $187.6 million, up from $157.5 million in the same period last year, representing a year-over-year increase of approximately 19.4% [13] - Gross profit for the quarter was $51.2 million, compared to $48.8 million in the prior year, indicating a growth of about 4.9% [13] - Consolidated adjusted EBITDA was $34.1 million, relatively flat compared to $33.5 million in the corresponding period of the prior year [15] - GAAP net income increased to $17.7 million or $0.75 per diluted share, up from $14.1 million or $0.60 per diluted share in 2021 [16] Business Segment Data and Key Metrics Changes - The Work Truck Attachments segment achieved record net sales of $130.4 million, more than 25% higher than the $104.6 million reported last year, with adjusted EBITDA of $33.6 million, slightly up from $32.2 million [18] - The Work Truck Solutions segment reported net sales of $57.2 million, an increase from $52.9 million in the same period last year, but adjusted EBITDA decreased to $513,000 from $1.3 million [21] Market Data and Key Metrics Changes - The company noted strong demand across both segments, with preseason orders in the Attachments segment being particularly robust [5][11] - Dealer inventories and sentiment remain positive, indicating a favorable market outlook [8] Company Strategy and Development Direction - The company is focused on continuous improvement across all divisions to drive long-term financial targets [12] - New product introductions are expected to positively impact revenue and earnings in 2023 [12] - The company is actively monitoring the competitive landscape for potential M&A opportunities [27] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing inflationary pressures and supply chain disruptions but noted that the situation is more stable compared to the previous year [6][11] - The company has narrowed its full-year guidance for net sales to between $590 million and $630 million, with adjusted EBITDA expected to range from $75 million to $95 million [28] - Management expressed confidence in the demand trends and the ability to manage through industry-wide headwinds [11][29] Other Important Information - The company reported a net debt leverage ratio of 3.2x, up from 2.1x at the same point last year [24] - Total liquidity at the end of the quarter was approximately $47.1 million, down from $114.3 million a year ago [24] Q&A Session Summary Question: How would you characterize this year's early order season in the attachment business? - Management noted that preseason orders were stronger than anticipated, with dealers ramping up order books due to supply challenges [31][32] Question: How far out does the backlog stretch in the Solutions segment? - The backlog is estimated to be between one and two years' worth of revenue, with strong demand still present [33][34] Question: Can you review the impact of price costs in the second quarter? - The company has covered inflation dollar for dollar, but the Solutions segment has been more impacted due to long-term contracts [41][42] Question: How is the company positioned regarding labor if demand surprises to the upside? - The labor pool is relatively fixed due to the skilled nature of the work, but the company is prepared to manage initial surges in demand [45][47] Question: What is the expectation for free cash flow in 2022? - Free cash flow is expected to be slightly lower than last year, with working capital being a significant variable due to inflation [48][49]

Douglas Dynamics, Inc. (NYSE:PLOW) Q1 2022 Results Conference Call May 3, 2022 10:00 AM ET Company Participants Sarah Lauber - CFO Bob McCormick - CEO Conference Call Participants Timothy Wojs - Baird Mike Shlisky - D.A. Davidson Chris McGinnis - Sidoti Operator Good day, and thank you for standing by. Welcome to the Douglas Dynamics First Quarter 2022 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to Sarah Lauber, Chief Financial Officer. Sarah Lauber Thank ...

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 For the transition period from to . Commission file number: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdi ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q4 2021 Earnings Conference Call February 22, 2022 10:00 AM ET Company Participants Sarah Lauber - CFO Bob McCormick - CEO Conference Call Participants Josh Chan - Baird Mike Shlisky - D.A. Davidson Christopher McGinnis - Sidoti Operator Good day, and thank you for standing by. Welcome to the Douglas Dynamics Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation there will be a question and an ...

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, 2021 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 ...

Financial Data and Key Metrics Changes - The company reported Q3 2021 net sales of $127.6 million, down from $133.8 million in Q3 2020, with gross profit decreasing to $30.6 million from $36.7 million [16] - GAAP net income was $7 million or $0.30 per diluted share, compared to $9.2 million and $0.39 in the prior year [16] - Adjusted EBITDA decreased to $15.5 million from $23.1 million year-over-year, primarily due to material and freight inflation and production constraints [17] Business Line Data and Key Metrics Changes - In the Work Truck Attachments segment, net sales increased to $81.4 million from $76.9 million, a 6% rise attributed to preseason price actions, but adjusted EBITDA fell to $14.8 million from $20.2 million due to inflation and labor issues [19] - The Work Truck Solutions segment saw net sales decline to $46.3 million from $56.9 million, with adjusted EBITDA dropping to $700,000 from $2.9 million, impacted by supply chain constraints [20] Market Data and Key Metrics Changes - Dealer inventories in the attachment business are at six-year lows, indicating strong demand despite supply chain challenges [10] - The company entered 2021 with record backlog levels, which have continued to increase, now more than 1.4 times the backlog at the start of the year [12] Company Strategy and Development Direction - The company is focused on long-term growth initiatives, including vertical integration and new product development, while managing short-term challenges [14] - Capital deployment priorities include maintaining a commitment to dividends and pursuing M&A opportunities when valuations align with long-term growth potential [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that supply chain disruptions, material price inflation, and labor shortages are expected to impact operations into 2022 [25] - Despite these challenges, the company remains optimistic about long-term demand trends and is positioned for success with a strong backlog [15][26] Other Important Information - SG&A expenses increased to $20.3 million due to wage and benefit inflation, while interest expense decreased to $2.2 million due to refinancing [18] - The effective tax rate for the quarter was 14.6%, significantly lower than the previous year due to discrete tax benefits [18] Q&A Session Summary Question: How is the company addressing pricing and cost inflation? - Management stated that they will cover inflation dollar for dollar and have implemented multiple price increases across all businesses [32] Question: What is the status of the labor pool and employee retention? - The company has increased wages across the board and is seeing an increase in job applicants, indicating progress in normalizing the labor pool [35] Question: Are there any risks of cancellations in the snow business due to seasonal factors? - Management reported strong orders and record backlog levels, indicating that cancellations are not expected despite potential delays [54] Question: How is the company managing chassis supply issues? - The company has not seen cancellations and maintains strong demand, with loyalty to existing chassis brands among customers [55]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) Table of Contents ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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 number: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jur ...

Douglas Dynamics, Inc. (NYSE:PLOW) Q2 2021 Results Conference Call August 3, 2021 10:00 AM ET Company Participants Sarah Lauber - CFO & Secretary Bob McCormick - President, CEO & Director Conference Call Participants Timothy Wojs - Robert W. Baird & Co. Ryan Sigdahl - Craig-Hallum Christopher McGinnis - Sidoti & Company Operator Ladies and gentlemen, thank you for standing by, and welcome to the Douglas Dynamics' Second Quarter 2021 Earnings Conference Call. [Operator Instructions] Please be advised that to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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 number: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdic ...