Douglas Dynamics Q2 2024: Sales & Net Income Detailed

TL;DR

**DOUGLAS DYNAMICS Q2 2024: $23M Sales, $23M Net Income. Solid financials reported.**

AI Summary

Douglas Dynamics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $200,000,000 and total liabilities of $200,000,000. Net sales for the period were $23,094,047, with a net income of $22,983,965. The filing also details interest rate swaps with a fair value of $2,765 as of June 30, 2024.

Why It Matters

This filing provides a snapshot of Douglas Dynamics' financial health and performance for the second quarter of 2024, crucial for investors assessing the company's stability and profitability.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• $23.1B — Net Sales (Represents revenue generated from sales in Q2 2024.)
• $23.0B — Net Income (Indicates the company's profitability after all expenses in Q2 2024.)
• $200.0B — Total Assets (Reflects the total resources owned by the company as of June 30, 2024.)
• $200.0B — Total Liabilities (Shows the total obligations of the company as of June 30, 2024.)

Key Players & Entities

• Douglas Dynamics, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $200,000,000 (dollar_amount) — Total assets
• $200,000,000 (dollar_amount) — Total liabilities
• $23,094,047 (dollar_amount) — Net sales
• $22,983,965 (dollar_amount) — Net income
• $2,765 (dollar_amount) — Fair value of interest rate swaps as of June 30, 2024

FAQ

Filing Documents

• plow20240630_10q.htm (10-Q) — 1645KB
• ex_680618.htm (EX-31.1) — 15KB
• ex_680619.htm (EX-31.2) — 14KB
• ex_680620.htm (EX-32.1) — 10KB
• 0001437749-24-023901.txt ( ) — 8131KB
• plow-20240630.xsd (EX-101.SCH) — 67KB
• plow-20240630_cal.xml (EX-101.CAL) — 52KB
• plow-20240630_def.xml (EX-101.DEF) — 434KB
• plow-20240630_lab.xml (EX-101.LAB) — 356KB
• plow-20240630_pre.xml (EX-101.PRE) — 477KB
• plow20240630_10q_htm.xml (XML) — 1595KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION 40

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 41

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 41

Other Information

Item 5. Other Information 41

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 43 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Douglas Dynamics, Inc. Condensed Consolidated Balance Sheets (In thousands except share data) June 30, December 31, 2024 2023 (unaudited) (unaudited) Assets Current assets: Cash and cash equivalents $ 4,196 $ 24,156 Accounts receivable, net 140,198 83,760 Inventories 139,419 140,390 Inventories - truck chassis floor plan 3,739 2,217 Refundable income taxes paid 918 4,817 Prepaid and other current assets 5,342 6,898 Total current assets 293,812 262,238 Property, plant, and equipment, net 62,765 67,340 Goodwill 113,134 113,134 Other intangible assets, net 116,810 121,070 Operating lease - right of use asset 17,197 18,008 Non-qualified benefit plan assets 10,002 9,195 Other long-term assets 3,247 2,433 Total assets $ 616,967 $ 593,418 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 27,757 $ 31,374 Accrued expenses and other current liabilities 29,783 25,817 Floor plan obligations 3,739 2,217 Operating lease liability - current 5,559 5,347 Short term borrowings 63,000 47,000 Current portion of long-term debt 15,200 6,762 Total current liabilities 145,038 118,517 Retiree benefits and deferred compensation 14,669 13,922 Deferred income taxes 27,660 27,903 Long-term debt, less current portion 173,125 181,491 Operating lease liability - noncurrent 12,825 13,887 Other long-term liabilities 6,993 6,133 Stockholders' equity: Common Stock, par value $ 0.01 , 200,000,000 shares authorized, 23,094,047 and 22,983,965 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 231 230 Additional paid-in capital 168,065 165,233 Retained earnings 62,120 59,746 Accumulated other comprehensive income, net of tax 6,241 6,356 Total stockholders' equity 236,657 231,565 Total liabilities and stockholders' equity $ 616,967 $ 593,418 See the accompanying notes to condensed consolidated finan