Core Points - Douglas Dynamics, Inc. celebrated its 15th anniversary as a publicly traded company on the NYSE, marking a significant milestone in its 75-year history [1][3] - The company is recognized as North America's premier manufacturer and upfitter of commercial work truck attachments and equipment, with a commitment to innovation and quality [4] - The company operates through two main segments: Work Truck Attachments and Work Truck Solutions, featuring well-known brands such as FISHER®, SNOWEX®, WESTERN®, HENDERSON®, and DEJANA® [4] Company Overview - Douglas Dynamics has been innovating products for over 75 years, enabling businesses to perform jobs more efficiently and increase profitability [4] - The proprietary Douglas Dynamics Management System (DDMS) focuses on continuous improvement to produce high-quality products and deliver industry-leading service [4] - The company emphasizes optimizing operations, expanding offerings, and enhancing its resilient business model [3]

Financial Performance - Douglas Dynamics, Inc. reported a net sales increase of 20.3% to a record $115.1 million in Q1 2025 compared to Q1 2024, driven by higher sales of equipment and parts [5][6] - Gross profit margin improved by 470 basis points to 24.5%, reflecting enhanced operational efficiency [5][6] - Net income for the quarter was $0.1 million, a significant improvement from a net loss of $(8.4) million in the same period last year [5][6] - Adjusted EBITDA rose to $9.4 million from $1.5 million year-over-year, with a record adjusted diluted EPS of $0.09 [5][6] Segment Performance - The Work Truck Attachments segment saw net sales increase by 52.9% to $36.5 million, with adjusted EBITDA improving to $0.3 million from a loss of $(4.5) million [12][4] - The Work Truck Solutions segment reported net sales of $78.6 million, a 9.5% increase, and adjusted EBITDA of $9.1 million, up 51.7% from the previous year [13][8] Operational Highlights - The company experienced more typical winter weather patterns, leading to increased sales of ice control equipment, with snowfall approximately 30% higher than the previous winter [7] - Selling, general, and administrative expenses increased by $1.9 million to $23.4 million, attributed to improved performance and higher stock-based compensation [6] Liquidity and Capital Structure - The company paid a quarterly cash dividend of $0.295 per share on March 31, 2025, and reduced net cash used in operating activities significantly from $21.6 million in Q1 2024 to $1.3 million in Q1 2025 [14][6] - Total inventory at the end of Q1 2025 was $171.5 million, a decrease from $174.8 million year-over-year, with a notable reduction in the Attachments segment [14][6] 2025 Outlook - The company maintains a positive outlook for 2025, assuming stable economic conditions and average snowfall in core markets [15][11] - Guidance for 2025 includes expected net sales between $610 million and $650 million, with adjusted EBITDA projected to range from $75 million to $95 million [20][11]

Core Viewpoint - Douglas Dynamics, Inc. announces a leadership transition with Don Sturdivant appointed as Chairman of the Board, succeeding Jim Janik, who will remain on the Board to ensure continuity [1][2][3]. Company Overview - Douglas Dynamics is North America's leading manufacturer and upfitter of work truck attachments and equipment, with over 75 years of innovation in products that enhance job efficiency and business profitability [6]. - The company operates through two segments: Work Truck Attachments, which includes brands like FISHER®, SNOWEX®, and WESTERN®, and Work Truck Solutions, featuring the HENDERSON® and DEJANA® brands [6]. Leadership Transition - Jim Janik has stepped down as Chairman effective April 30, 2025, after decades of leadership, while continuing as a Board member [1][2]. - Don Sturdivant, who has been on the Board since 2010 and Lead Director since 2023, is recognized for his strategic acumen and managerial experience, making him well-suited for the Chairman role [2][3]. - With Sturdivant's appointment, the Board will eliminate the Lead Director position [3]. Don Sturdivant's Background - Sturdivant is an Operating Partner at TruArc LLC, focusing on the Specialty Manufacturing Sector, and has held CEO positions at FleetPride, Inc. and Marietta Corporation [4][5]. - His previous executive roles include Chief Operating Officer at Altivity Packaging and Division President at Graphic Packaging International and Fort James Corporation [5].