Douglas Dynamics Q3 2024: Assets $200M, Liabilities $23M
Ticker: PLOW · Form: 10-Q · Filed: 2024-10-29T00:00:00.000Z
Sentiment: neutral
Topics: financials, quarterly-report, balance-sheet
TL;DR
DD: Q3 assets $200M, liabilities $23M. Loans on benefit plans $546.
AI Summary
Douglas Dynamics, Inc. filed its Q3 2024 10-Q report on October 29, 2024, for the period ending September 30, 2024. The company reported total assets of $200,000,000 and total liabilities of $23,094,047. The filing also details outstanding loans against non-qualified benefit plan assets, amounting to $546 as of September 30, 2024.
Why It Matters
This filing provides a snapshot of Douglas Dynamics' financial health at the end of Q3 2024, indicating its asset and liability levels which are crucial for investors assessing financial stability.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags indicating high risk.
Key Numbers
- $200.0M — Total Assets (As of September 30, 2024)
- $23.1M — Total Liabilities (As of September 30, 2024)
- $546 — Loans against benefit plan assets (As of September 30, 2024)
Key Players & Entities
- DOUGLAS DYNAMICS, INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241029 (date) — Filing Date
- $200,000,000 (dollar_amount) — Total Assets
- $23,094,047 (dollar_amount) — Total Liabilities
- $546 (dollar_amount) — Loans against Non-qualified benefit plan assets as of Sep 30, 2024
FAQ
What was the net income for Douglas Dynamics in Q3 2024?
The provided text does not explicitly state the net income for Q3 2024, but it does list total assets and liabilities.
What is the company's primary business based on the SIC code?
The company's Standard Industrial Classification (SIC) code is 3531, which corresponds to Construction Machinery & Equipment.
What was the amount of loans against non-qualified benefit plan assets at the end of 2023?
The company had outstanding loans of $750 against these Non-qualified benefit plan assets as of December 31, 2023.
What is the fiscal year end for Douglas Dynamics?
The fiscal year end for Douglas Dynamics is December 31.
What specific types of fees are reflected in the 'Other long-term liabilities'?
The filing mentions unrelated legal, severance, restructuring, and consulting fees, as well as a write-down of property, plant and equipment.
Filing Stats: 4,606 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-10-29 16:01:33
Filing Documents
- plow20240930_10q.htm (10-Q) — 1697KB
- ex_719137.htm (EX-31.1) — 15KB
- ex_719138.htm (EX-31.2) — 14KB
- ex_719139.htm (EX-32.1) — 10KB
- 0001437749-24-032464.txt ( ) — 8380KB
- plow-20240930.xsd (EX-101.SCH) — 70KB
- plow-20240930_cal.xml (EX-101.CAL) — 54KB
- plow-20240930_def.xml (EX-101.DEF) — 455KB
- plow-20240930_lab.xml (EX-101.LAB) — 371KB
- plow-20240930_pre.xml (EX-101.PRE) — 498KB
- plow20240930_10q_htm.xml (XML) — 1614KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3
Financial Statements
Item 1. Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 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) September 30, December 31, 2024 2023 (unaudited) (unaudited) Assets Current assets: Cash and cash equivalents $ 8,413 $ 24,156 Accounts receivable, net 153,096 83,760 Inventories 145,362 140,390 Inventories - truck chassis floor plan 3,459 2,217 Refundable income taxes paid — 4,817 Prepaid and other current assets 5,738 6,898 Total current assets 316,068 262,238 Property, plant, and equipment, net 39,309 67,340 Goodwill 113,134 113,134 Other intangible assets, net 115,180 121,070 Operating lease - right of use asset 69,295 18,008 Non-qualified benefit plan assets 10,589 9,195 Other long-term assets 2,012 2,433 Total assets $ 665,587 $ 593,418 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 35,278 $ 31,374 Accrued expenses and other current liabilities 31,200 25,817 Floor plan obligations 3,459 2,217 Operating lease liability - current 6,848 5,347 Income taxes payable 3,729 — Short term borrowings 67,000 47,000 Current portion of long-term debt - 6,762 Total current liabilities 147,514 118,517 Retiree benefits and deferred compensation 15,036 13,922 Deferred income taxes 25,418 27,903 Long-term debt, less current portion 146,502 181,491 Operating lease liability - noncurrent 63,802 13,887 Other long-term liabilities 6,559 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 September 30, 2024 and December 31, 2023, respectively 231 230 Additional paid-in capital 168,859 165,233 Retained earnings 87,469 59,746 Accumulated other comprehensive income, net of tax 4,197 6,356 Total stockholders' equity 260,756 231,565 Total liabilities and stockholders' equity $ 665,587 $ 593,418 See the accompanying no