Tue, Feb 25, 9:04 PM (54 days ago)
Douglas Dynamics, Inc. (Ticker: PLOW) 10‑K for fiscal 2024 shows steady net sales at ~$568.5M despite a decline from Work Truck Attachments due to below‑average snowfall, which was offset by higher volumes in Work Truck Solutions. Net income rose to $56.2M (diluted EPS $2.36 vs. $0.98 in 2023) despite increased SG&A expenses driven by restructuring, transition costs, and higher compensation expenses. A key liquidity boost came from a $42.3M gain on a sale‑leaseback transaction, which helped reduce term loan borrowings. Adjusted EBITDA increased to ~$79.3M, driven by improved pricing and operational efficiencies in the Solutions segment. The report outlines risks including steel price volatility, weather-driven seasonality, supply chain disruptions, and economic uncertainties. Management emphasizes continued focus on cost management, asset optimization, and robust cash flow generation while addressing evolving risk factors and strategic leadership changes.