NYSE$PLOW

Douglas Dynamics Inc · Q4 2024 earnings

Q4 2024 earnings · · Investor relations

Briefing

Improved performance driven by Work Truck Solutions' record results and Work Truck Attachments' margin improvements.

Douglas Dynamics reported improved fourth quarter and full year 2024 results, driven by strong performance in the Work Truck Solutions segment and improved margins in the Work Truck Attachments segment. The company's 2024 Cost Savings Program exceeded expectations, delivering over $10 million in savings.

  • Consolidated results improved across all metrics compared to the prior year, driven by the Solutions segment's growth and increased profitability in the Attachments segment.
  • Work Truck Solutions delivered impressive top and bottom-line growth through execution and improved business conditions.
  • Work Truck Attachments operated efficiently in a tough environment, improving margins through cost management.
  • Total backlog at the start of 2025 was a near record $348 million.

Headline financials

Total Revenue

$144M

Previous: $134M+6.9%
EPS (adj)

$0.39

Previous: $0.19+105.3%
Gross Profit Margin

24.9%

No prior period
Adjusted EBITDA

$18.8M

Previous: $14.9M+26.1%
Adjusted EBITDA Margin

13.1%

Previous: 11.1%+18.0%
WTA Adjusted EBITDA

$8.99M

No prior period
WTA Adjusted EBITDA Margin

16.7%

No prior period
WTS Adjusted EBITDA

$9.8M

No prior period
WTS Adjusted EBITDA Margin

10.9%

No prior period
Capital Expenditures

-$3.83M

Previous: $2.87M-233.2%
Net Income

$7.9M

Previous: $7.1M+11.3%
Operating Income

$13M

Previous: $12.6M+3.2%
Gross Profit

$35.7M

Previous: $26.9M+33.0%

Revenue & EPS history

Douglas Dynamics · Revenue · Quarterly

$144M

Q4 2024+6.9%vs Q4 2023
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Douglas Dynamics · $126M total across 1 segment · Q3 2023

  • Work Truck Attachments
    $126M+16.5%

Forward guidance

Douglas Dynamics anticipates net sales between $610 million and $650 million, adjusted EBITDA ranging from $75 million to $95 million, and adjusted earnings per share in the range of $1.30 to $2.10 for 2025. The outlook assumes stable economic and supply chain conditions and average snowfall in core markets.

Tailwinds

  • Manufacturing strength
  • Quality of people
  • Ability to lead the markets
  • Ability to produce long-term growth
  • Advancements over the past two years at Work Truck Solutions mean we at the low end of our target margins with a strong backlog

Headwinds

  • The 2025 outlook assumes relatively stable economic and supply chain conditions
  • The 2025 outlook assumes that core markets will experience average snowfall in 2025.
  • Company is not able to provide a reconciliation of the non-GAAP financial measures to GAAP because it does not provide specific guidance for the various extraordinary, nonrecurring, or unusual charges and other certain items.
  • These items have not yet occurred, are out of the Company’s control and/or cannot be reasonably predicted.
  • Reconciliation of the non-GAAP guidance measures to GAAP is not available without unreasonable effort and the Company is unable to address the probable significance of the unavailable information.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2024

Historical avgQ4 2024

+1.4%

Avg return

Earnings day

+1.3%

Avg return

5 days after

+0.5%

Avg return

30 days after

55%

36 / 65 earnings

Positive

+17.5%

Q2 2016

Best reaction

-16.1%

Q3 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+14.0%+1.8%+0.3%
Q4 2025+7.0%+7.7%-0.4%
Q3 2025+0.3%+3.6%+8.4%
Q1 2025+4.7%+11.7%+12.8%
Q4 2024+4.3%+4.8%-8.1%
Q3 2024-10.5%-10.5%-0.1%
Q2 2024+17.1%+6.1%+5.6%
Q1 2024+1.2%+5.2%+8.3%
Q4 2023+7.0%+2.5%+1.8%
Q3 2023-3.2%-2.8%+3.6%
Q2 2023+8.1%+4.5%-1.5%
Q1 2023-7.5%-5.4%-3.6%
Q4 2022-1.0%-4.7%-21.4%
Q3 2022+10.4%+9.9%+13.8%
Q2 2022-0.7%+4.5%-8.7%
Q1 2022-1.4%-0.6%+1.6%
Q4 2021-1.7%-0.4%-6.9%
Q3 2021-3.0%+3.2%-7.2%
Q2 2021-3.6%+2.8%-1.2%
Q1 2021+0.1%-0.2%-1.9%
Q4 2020+4.2%+1.0%-6.0%
Q3 2020-0.0%+5.2%+15.0%
Q2 2020+7.4%+11.6%+16.9%
Q1 2020-7.1%-7.3%+7.1%
Q4 2019-2.6%-16.8%-40.1%
Q3 2019+1.5%+8.3%+11.5%
Q2 2019+8.5%+10.1%+4.1%
Q1 2019-5.5%-4.2%-3.8%
Q4 2018+3.2%+10.1%-3.2%
Q3 2018-11.6%-13.6%-19.6%
Q2 2018-3.9%-8.0%-0.4%
Q1 2018+5.8%+6.4%+14.2%
Q4 2017+16.7%+13.9%+13.7%
Q3 2017-3.1%-5.2%-7.4%
Q2 2017+11.5%+9.6%+14.4%
Q1 2017-5.2%-8.3%-4.1%
Q4 2016-1.8%-9.1%-7.4%
Q3 2016-16.1%-16.1%+1.1%
Q2 2016+17.5%+18.8%+19.7%
Q1 2016-4.8%
Q4 2015+4.3%
Q3 2015+7.3%
Q2 2015+13.8%
Q1 2015-4.6%
Q4 2014-4.4%
Q3 2014+1.3%
Q2 2014+7.1%
Q1 2014+0.2%
Q4 2013+3.6%
Q3 2013-0.3%
Q2 2013-3.5%
Q1 2013+1.5%
Q4 2012-1.3%
Q3 2012-1.4%
Q2 2012+2.7%
Q1 2011-5.1%
Q1 2012+0.7%
Q4 2009+2.1%
Q4 2011+2.1%
Q3 2010-2.6%
Q3 2011-2.6%
Q2 2010+5.4%
Q2 2011+5.4%
Q4 2010+5.4%
Q1 2010+0.4%

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