PLOW · Douglas Dynamics, Inc.

Douglas Dynamics delivered record first-quarter 2026 results driven by exceptional snowfall—approximately 25% above the 10-year average across core Northeast and Midwest markets—which fueled strong demand for snow and ice control parts and accessories at the Work Truck Attachments segment. That segment’s net sales surged 67% to $60.9 million, aided by a full quarter of contributions from the November 2025 Venco Venturo acquisition. Meanwhile, the Work Truck Solutions segment posted slightly lower net sales ($76.9 million vs. $78.6 million) but achieved record Adjusted EBITDA of $9.1 million and a record 11.9% Adjusted EBITDA margin, reflecting resilient municipal demand that offset softer commercial volumes. Gross margin expanded 290 basis points to 27.4%, supported by higher volumes and operational execution across both segments. Management attributed the strength not only to weather but also to disciplined execution and progress on strategic priorities. Notably, the company raised its full-year 2026 guidance across all key metrics—Net Sales, Adjusted EBITDA, and Adjusted Diluted EPS—citing sustained momentum and confidence in pre-season order flow. The outlook assumes average fourth-quarter snowfall and stable economic and supply chain conditions. With $10.1 million returned to shareholders via dividends and buybacks—and net cash used in operations aligning with prior year despite working capital changes—the company demonstrated continued capital discipline and underlying cash flow resilience. Forward-looking commentary emphasized continued focus on municipal growth, efficient fulfillment of pre-season orders, and navigating macroeconomic uncertainty on the commercial side.