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Douglas Dynamics, Inc. (PLOW), headquartered in Milwaukee, Wisconsin, is a premier designer, manufacturer, and seller of snow and ice control equipment for light trucks. The company's product lineup includes snowplows, sand and salt spreaders, and related parts and accessories. With a robust assortment of brands such as WESTERN®, FISHER®, SNOWEX®, TURFEX®, SWEEPEX®, and HENDERSON®, Douglas Dynamics has cemented its position in the industry.
Beyond snow and ice management, Douglas Dynamics is a leading manufacturer of turf and commercial/industrial grounds control products. The company operates through two main segments: Work Truck Attachments and Work Truck Solutions. This structure allows it to offer a comprehensive range of products from snowplows to industrial maintenance equipment.
Douglas Dynamics' portfolio also includes the upfit of commercial vehicle attachments and storage solutions under the HENDERSON® and DEJANA® brands. The company leases fifteen manufacturing, upfit, and service facilities across several states, including Iowa, Maryland, Missouri, New Jersey, New York, Ohio, Pennsylvania, and Rhode Island.
Recent achievements include improvements in both top and bottom-line results for its Work Truck Solutions segment, partially offsetting the impact of weather conditions on Attachments Results. The company's outlook for 2024 remains strong, underpinned by its innovative product offerings and strategic market positioning.
In terms of leadership, a significant change is on the horizon with President & CEO Bob McCormick set to retire in July. Current Chairman Jim Janik will take on the interim President & CEO role, guiding the company through this transition while maintaining its commitment to quality and customer satisfaction.
For more information and the latest updates, contact Nathan Elwell, Vice President of Investor Relations at 847-530-0249 or via email at investorrelations@douglasdynamics.com.
Douglas Dynamics (NYSE: PLOW), North America's premier manufacturer of work truck attachments and equipment, has declared a quarterly cash dividend of $0.295 per share for the fourth quarter of 2024. The dividend will be paid on December 31, 2024 to stockholders of record as of December 16, 2024.
The company operates through two segments: Work Truck Attachments, which includes commercial snow and ice control equipment under the FISHER, SNOWEX, and WESTERN brands, and Work Truck Solutions, which provides attachments and storage solutions under the HENDERSON and DEJANA brands.
Douglas Dynamics (NYSE: PLOW) reported Q3 2024 financial results with net sales of $129.4 million, down from $144.1 million in Q3 2023. The company achieved a net income of $32.3 million, including a one-time gain of $42.3 million from a sale-leaseback transaction. Solutions segment delivered record third quarter results, while Attachments segment faced challenges due to low snowfall. The company narrowed its 2024 outlook, now expecting net sales between $570-600 million and adjusted EBITDA of $70-80 million. The 2024 Cost Savings Program is on track to deliver $11-12 million in annualized savings.
Douglas Dynamics, Inc. (NYSE: PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, has announced the release of its third quarter 2024 financial results. The results will be disclosed after market close on Monday, October 28, 2024, followed by a conference call on Tuesday, October 29, 2024, at 9:00 a.m. Central Time.
The call will be hosted by Jim Janik (Chairman and Interim President and CEO), Sarah Lauber (Executive VP and CFO), and Mark Van Genderen (COO and President, Work Truck Attachments). Investors can join the call via simulcast on the company's website or by dialing (833) 634-5024 domestically or (412) 902-4205 internationally.
Douglas Dynamics (NYSE: PLOW), North America's leading manufacturer of work truck attachments, announced key changes to its senior management team. Mark Van Genderen has been promoted to Chief Operating Officer and President of Work Truck Attachments, effective immediately. Linda Evans, Chief Human Resources Officer, will retire on January 2, 2025. Shannan Vlieger has been promoted to Senior Vice President, People and Culture, effective October 1, 2024.
Van Genderen, with 33 years of professional experience, will oversee both of the company's reporting segments. Evans, who joined in 2008, played a important role in the company's growth from 500 to 1,700 employees. Vlieger, an 8-year company veteran, will lead Human Resources, Organizational Development, Safety, and ESG efforts.
These appointments reflect Douglas Dynamics' commitment to strengthening leadership and culture, promoting from within to ensure alignment with the company's future goals.
Douglas Dynamics (NYSE: PLOW) has completed a $64.2 million sale-leaseback transaction with TPG Angelo Gordon, involving seven facilities across five states. The deal covers approximately 780,000 square feet of manufacturing and upfitting space. Key points:
- Net proceeds of about $50 million expected
- Initial lease term of 15 years with two 10-year renewal options
- Proceeds to be used for debt reduction and other corporate purposes
- Transaction aims to enhance financial flexibility while maintaining operational continuity
This strategic move allows Douglas Dynamics to optimize its balance sheet and position itself for future business investments while reinforcing its commitment to long-standing operational communities.
Douglas Dynamics (NYSE: PLOW), North America's leading manufacturer of work truck attachments and equipment, has declared a quarterly cash dividend of $0.295 per share for Q3 2024. The dividend will be paid on September 30, 2024 to stockholders of record as of September 16, 2024. Douglas Dynamics, with over 75 years of experience, is known for its innovative products that enhance job efficiency and business profitability. The company operates through two segments: Work Truck Attachments (including FISHER®, SNOWEX®, and WESTERN® brands) and Work Truck Solutions (including HENDERSON® and DEJANA® brands).
Douglas Dynamics (NYSE: PLOW) reported Q2 2024 results with net sales of $199.9 million, down 3.6% year-over-year. The Work Truck Solutions segment delivered record Q2 results with 24% net sales growth and improved profitability. The 2024 Cost Savings Program is now expected to yield $11-12 million in annualized savings. Net income was $24.3 million or $1.02 per diluted share, in line with Q2 2023. Adjusted EBITDA increased to $43.7 million with a 21.9% margin. The company maintained its 2024 outlook, projecting net sales of $600-640 million and adjusted EPS of $1.20-$1.70. Work Truck Attachments segment faced challenges due to low snowfall, while Work Truck Solutions segment showed strong performance.
Douglas Dynamics (NYSE: PLOW), North America's leading manufacturer of work truck attachments and equipment, has announced its second quarter 2024 earnings release schedule. The company will disclose financial results after market close on Monday, July 29, 2024, followed by a conference call on Tuesday, July 30, 2024, at 9:00 a.m. Central Time.
The call will be hosted by Jim Janik, Chairman and Interim President and CEO, and Sarah Lauber, Executive VP and CFO. Investors can join via simulcast on the company's website or by dialing in. Douglas Dynamics, with over 75 years of experience, operates through two segments: Work Truck Attachments (FISHER®, SNOWEX®, WESTERN® brands) and Work Truck Solutions (HENDERSON® and DEJANA® brands).
Douglas Dynamics (NYSE: PLOW) announced that its Board of Directors approved a quarterly cash dividend of $0.295 per share for Q2 2024.
The dividend will be paid on June 28, 2024, to stockholders of record on June 17, 2024.
Douglas Dynamics is a key player in manufacturing and upfitting commercial work truck attachments and equipment, operating under renowned brands like FISHER, SNOWEX, WESTERN, HENDERSON, and DEJANA.
The company has been innovating for over 75 years to improve job efficiency and profitability for businesses, leveraging the Douglas Dynamics Management System (DDMS) to maintain high-quality standards and service delivery.
Douglas Dynamics (NYSE: PLOW) announced a CEO transition process. CEO Bob McCormick will retire in July 2024 after 20 years with the company. He will stay as a consultant until the end of 2024. Chairman James L. Janik will assume the role of Interim President & CEO. The board is evaluating internal and external candidates for a permanent CEO. McCormick's tenure has been praised for his strategic leadership and commitment to excellence.
James L. Janik, who previously served as CEO from 2000 to 2018, will lead the company during the transition. Douglas Dynamics is North America's leading manufacturer of work truck attachments and equipment, with two main segments: Work Truck Attachments and Work Truck Solutions.
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