Core Insights - Douglas Dynamics, Inc. reported a net income of $26.0 million for Q2 2025, reflecting a 6.6% increase compared to Q2 2024, with diluted earnings per share rising to $1.09 from $1.02 [5][6][12] - The company experienced a 2.8% decrease in net sales, totaling $194.3 million, primarily due to lower volumes in the Work Truck Attachments segment related to pre-season shipment timing [6][10] - The Work Truck Solutions segment achieved record results with a 5.4% increase in net sales and a 39.8% growth in adjusted EBITDA [5][12] Financial Performance - Consolidated net sales for Q2 2025 were $194.3 million, down from $199.9 million in Q2 2024 [3][6] - Gross profit margin improved to 31.0% from 30.7% year-over-year [3] - Adjusted EBITDA remained flat at 21.9%, with adjusted net income increasing to $27.2 million from $26.5 million [3][6] Segment Performance - Work Truck Attachments segment reported net sales of $108.1 million, down from $118.1 million, with adjusted EBITDA of $31.6 million compared to $35.8 million [7][29] - Work Truck Solutions segment saw net sales rise to $86.2 million from $81.8 million, with adjusted EBITDA increasing to $11.0 million from $7.9 million [8][29] Shareholder Returns - The company returned approximately $13 million to shareholders through dividends and stock repurchases [5][12] - A quarterly cash dividend of $0.295 per diluted share was declared [12] 2025 Outlook - The company raised its guidance for 2025, expecting net sales between $630 million and $660 million, and adjusted EBITDA between $82 million and $97 million [10][18] - The outlook assumes stable economic conditions and average snowfall in Q4 2025 [13][18]

Financial Performance - Q1 2025 - Consolidated net sales reached $115.1 million, a 20% year-over-year increase[38] - Net income improved significantly, reaching $0.1 million compared to a loss of $8.4 million in the same period last year[38] - Adjusted EBITDA increased to $9.4 million, up from $1.5 million year-over-year[38] - Adjusted diluted EPS improved to $0.09, compared to a loss of $0.29 in the prior year[38] - The company amended its credit agreement, securing a $150 million term loan and a $125 million revolver[8,41] Segment Performance - Work Truck Attachments (WTA) net sales increased by 53% to $36.5 million[23,44] - WTA adjusted EBITDA was $0.3 million, a 107% increase[23,44] - Work Truck Solutions (WTS) net sales rose by 9% to $78.6 million[22,44] - WTS adjusted EBITDA increased by 52% to $9.1 million[22,44] - WTS adjusted EBITDA margin increased 320 basis points to 11.6%[22,44] Outlook - The company projects 2025 net sales between $610 million and $650 million[50] - Adjusted EBITDA for 2025 is projected to be between $75 million and $95 million[50] - Adjusted EPS for 2025 is expected to be between $1.30 and $2.10[50]