DOUGLAS DYNAMICS (PLOW) Company Report

Douglas Dynamics reported strong financial results for Q4 and full-year 2025, with record net sales of $656.1 million and Adjusted EPS increasing 52% to $2.24 for the full year.
The company issued a strong outlook for 2026, forecasting net sales between $710 million and $760 million and Adjusted EBITDA between $100 million and $120 million, driven by expected higher volumes across both segments.
This performance was attributed to increased business activity, an early winter boosting demand for Work Truck Attachments, and record results for the Work Truck Solutions segment for the fourth consecutive year.
Strategic actions in 2025 included the acquisition of Venco Venturo in November and the upcoming opening of Henderson's new Missouri upfit facility in summer 2026, aimed at diversifying the portfolio and expanding capacity.

Feb 24, 2026, 3:00 PM

Transcript

Douglas Dynamics Reports Strong Q4 and Full Year 2025 Results, Issues Positive 2026 Outlook

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics reported strong financial results for Q4 and full year 2025, with Q4 net sales increasing 29% to $184.5 million and full year net sales growing 15% to a record $656.1 million. Adjusted EPS for 2025 increased 52% to $2.24.
The company provided a strong outlook for 2026, projecting net sales between $710 million and $760 million, Adjusted EBITDA between $100 million and $120 million, and Adjusted EPS between $2.25 and $2.85.
Performance was driven by improved weather trends boosting demand in Work Truck Attachments, which saw Q4 net sales and Adjusted EBITDA increase by over 50%, and record results in Work Truck Solutions, with Q4 net sales up 13% and Adjusted EBITDA up 22%.
Strategic initiatives include the November 2025 acquisition of Venco Venturo, which is expected to be earnings per share and free cash flow accretive in 2026, and the upcoming Q2 2026 opening of a new Missouri upfit facility for Henderson.
Douglas Dynamics continues to focus on returning cash to shareholders by maintaining a quarterly cash dividend of $0.295 per share and has $38 million remaining on its share buyback authority.

Feb 24, 2026, 3:00 PM

Transcript

Douglas Dynamics Reports Strong Q4 and Full-Year 2025 Results, Provides Optimistic 2026 Outlook

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics reported strong financial performance for Q4 2025, with net sales increasing approximately 29% to $184.5 million and Adjusted EPS increasing approximately 58% to $0.62. For the full year 2025, net sales reached a record $656.1 million and Adjusted EPS was $2.24.
Both segments, Work Truck Attachments and Work Truck Solutions, showed significant growth, with Attachments benefiting from the early onset of winter and Solutions achieving record results driven by strong municipal demand.
The company issued a strong outlook for 2026, forecasting net sales between $710 million and $760 million, Adjusted EBITDA between $100 million and $120 million, and Adjusted EPS between $2.25 and $2.85.
Strategic actions include the November 2025 acquisition of Venco Venturo, expected to be EPS and free cash flow accretive in 2026, and the planned opening of Henderson's new Missouri upfit facility in early summer 2026.

Feb 24, 2026, 3:00 PM

Transcript

Douglas Dynamics Announces Strong Q4 and Full Year 2025 Results

PLOW

Earnings

Guidance Update

Dividends

Douglas Dynamics reported strong financial results for full year 2025, with consolidated Net Sales increasing 15.4% to $656.1 million and Adjusted Diluted EPS growing 52.0% to $2.24.
The fourth quarter of 2025 also showed significant growth, with Net Sales up 28.6% to $184.5 million and Adjusted Diluted EPS increasing 57.7% to $0.62.
The company provided a positive 2026 outlook, projecting Adjusted EPS in the range of $2.25 - $2.85 and Net Sales between $710 million and $760 million.
For full year 2025, net cash provided by operating activities increased 81.6% to $74.7 million and free cash flow increased 90.7% to $63.6 million. The Board also declared a quarterly cash dividend of $0.295 per share for the first quarter of 2026.

Feb 23, 2026, 11:05 PM

Press Release

Douglas Dynamics Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Completes Acquisition

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics reported strong Q3 2025 consolidated results, with net sales increasing 25% to $162.1 million and adjusted EBITDA growing 31% to $20.1 million.
The company raised its full-year 2025 guidance, now expecting net sales between $635 million and $660 million, adjusted EBITDA from $87 million to $102 million, and adjusted EPS from $1.85 to $2.25 per share.
Douglas Dynamics completed the acquisition of Venco Venturo, a provider of truck-mounted cranes and dump hoists, marking its first acquisition in over nine years. The deal is expected to be modestly accretive to earnings and free cash flow in 2026 , with Venco Venturo's sales estimated in the $30 million to $40 million range.
The Board of Directors expanded from seven to eight members with the retirement of Margaret Dano and the appointment of Jennifer Ansberry and Brad Nelson as new independent directors.

Nov 4, 2025, 3:00 PM

Transcript

Douglas Dynamics Reports Strong Q3 2025 Results, Raises Guidance, and Completes Acquisition

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics reported strong Q3 2025 financial results, with net sales increasing 25% to $162.1 million and adjusted earnings per share increasing over 60% to $0.40.
The company raised its full-year 2025 guidance, now expecting net sales between $635-$660 million, adjusted EBITDA between $87-$102 million, and adjusted EPS between $1.85-$2.25.
Douglas Dynamics completed the acquisition of Vanco Venturo, a provider of truck-mounted cranes and dump hoists, marking its first acquisition in over nine years. Vanco Venturo's sales are estimated to be in the $30-$40 million range, and the deal is expected to be modestly accretive to earnings and free cash flow in 2026.
Both segments performed well in Q3 2025, with Work Truck Solutions' net sales increasing 36% to $94 million and Attachments' net sales increasing 13% to $68.1 million.

Nov 4, 2025, 3:00 PM

Transcript

Douglas Dynamics Reports Strong Q3 2025 Results and Raises Full-Year Guidance

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics, Inc. reported strong Q3 2025 results, with consolidated Net Sales increasing 25.3% to $162.1 million and Adjusted Diluted EPS rising to $0.40 from $0.24 in Q3 2024.
The Work Truck Solutions segment achieved record third-quarter performance, with Net Sales increasing 36.0% to $94.0 million and Adjusted EBITDA growing 33.8% to $9.6 million.
The company raised its full-year 2025 guidance, now expecting Net Sales between $635 million and $660 million, Adjusted EBITDA between $87 million and $102 million, and Adjusted Earnings Per Share between $1.85 and $2.25 per share.
Douglas Dynamics also announced the acquisition of Venco Venturo, a provider of truck-mounted service cranes and dump hoists.

Nov 3, 2025, 11:05 PM

8-K

Douglas Dynamics Reports Strong Q3 2025 Results and Raises Full-Year Guidance

PLOW

Earnings

Guidance Update

M&A

Douglas Dynamics reported strong Third Quarter 2025 results, with consolidated Net sales increasing 25% to $162.1 million and Adjusted Diluted EPS rising to $0.40 from $0.24 in the prior year.
The company announced the acquisition of Venco Venturo, a highly-regarded provider of truck-mounted service cranes and dump hoists, as a strategic step to diversify its portfolio.
Douglas Dynamics raised its 2025 outlook, now expecting Net Sales between $635 million and $660 million, Adjusted EBITDA between $87 million and $102 million, and Adjusted Earnings Per Share between $1.85 and $2.25.
For the nine months ended September 30, 2025, Free cash flow improved 21.4% to ($29.3) million, and a quarterly cash dividend of $0.295 per share was paid on September 30, 2025.

Nov 3, 2025, 11:00 PM

Press Release

Douglas Dynamics Acquires Venco Venturo Industries LLC

PLOW

M&A

New Projects/Investments

Douglas Dynamics, Inc. (PLOW) completed the acquisition of substantially all the assets of Venco Venturo Industries LLC on November 3, 2025.
Venco Venturo Industries LLC is a provider of truck-mounted service cranes and dump hoists and will operate as a division of Douglas Dynamics' Work Truck Attachments segment.
The acquisition is expected to be modestly accretive to earnings per share and free cash flow positive before synergies in 2026.
This acquisition represents a "meaningful first step" in Douglas Dynamics' "Activate strategic pillar" to acquire complex attachments for portfolio diversification.