Douglas Dynamics Reports 2024 Results

TL;DR

DOUGLAS DYNAMICS (PLOW) 2024 10-K FILED: $200M SALES, $23M COGS, $23M SG&A. LOOKS STABLE.

AI Summary

Douglas Dynamics, Inc. filed its 2024 10-K on February 25, 2025, reporting on its fiscal year ending December 31, 2024. The company, a leader in the snow and ice management industry, generated $200,000,000 in net sales. Key financial highlights include a cost of goods and services sold of $23,094,047 and selling, general, and administrative expenses of $22,983,965.

Why It Matters

This filing provides investors with a comprehensive overview of Douglas Dynamics' financial performance and operational status for the 2024 fiscal year, crucial for understanding the company's stability and future prospects.

Risk Assessment

Risk Level: low — The filing appears to be a standard annual report with no immediate red flags indicating high risk.

Key Numbers

• $200.0M — Net Sales (Total revenue for the fiscal year 2024.)
• $23.1M — Cost of Goods and Services Sold (Direct costs associated with producing goods and services.)
• $23.0M — Selling, General, and Administrative Expense (Operating expenses not directly tied to production.)

Key Players & Entities

• DOUGLAS DYNAMICS, INC (company) — Filer
• 20241231 (date) — Fiscal Year End
• 20250225 (date) — Filing Date
• $200,000,000 (dollar_amount) — Net Sales
• $23,094,047 (dollar_amount) — Cost of Goods and Services Sold
• $22,983,965 (dollar_amount) — Selling, General, and Administrative Expense

FAQ

From the Filing

0001437749-25-005050.txt : 20250225 0001437749-25-005050.hdr.sgml : 20250225 20250225160120 ACCESSION NUMBER: 0001437749-25-005050 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 125 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250225 DATE AS OF CHANGE: 20250225 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOUGLAS DYNAMICS, INC CENTRAL INDEX KEY: 0001287213 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION MACHINERY & EQUIP [3531] ORGANIZATION NAME: 06 Technology IRS NUMBER: 134275891 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34728 FILM NUMBER: 25662881 BUSINESS ADDRESS: STREET 1: 11270 W. PARK PLACE SUITE 300 CITY: MILWAUKEE STATE: WI ZIP: 53224 BUSINESS PHONE: 414-362-3940 MAIL ADDRESS: STREET 1: 11270 W. PARK PLACE SUITE 300 CITY: MILWAUKEE STATE: WI ZIP: 53224 FORMER COMPANY: FORMER CONFORMED NAME: DOUGLAS DYNAMICS HOLDINGS INC DATE OF NAME CHANGE: 20040415 10-K 1 plow20241231_10k.htm FORM 10-K plow20241231_10k.htm 0001287213 DOUGLAS DYNAMICS, INC false --12-31 FY 2024 false true true true true true false false false false 0.01 0.01 200,000,000 200,000,000 23,094,047 23,094,047 22,983,965 22,983,965 211 1 176 485 910 3,140 14 0 0 176 3,140 1 910 211 485 14 2 0 0 0 22 7 3 4 2 7 12 3 113,134 0 0 0 2 0 7 1 3 4 2 162 274 4.00 2.00 1 1 2 1 1 5 2021 2022 2023 2020 2021 2022 2023 12 10 2033 2032 2031 1 1 3 2 2 0 23,094,047 22,983,965 1 http://fasb.org/us-gaap/2024#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2024#SellingGeneralAndAdministrativeExpense http://fasb.org/us-gaap/2024#PrimeRateMember Health Care Cost Trend rate is assumed to be 7.5% beginning in 2022 gradually reducing to an ultimate rate of 4.5% in 2031. Includes cost of sales, other (income) expense, and the addback of depreciation expense, stock based compensation, impairment charges, gain on sale leaseback transaction, CEO transition fees, and unrelated legal, severance, restructuring, and consulting fees for the periods presented. Valuation models are calibrated to initial trade price. Subsequent valuations are based on observable inputs to the valuation model (e.g., interest rates and credit spreads). Model inputs are changed only when corroborated by market data. A credit risk adjustment is made on each swap using observable market credit spreads. Thus, inputs used to determine fair value of the interest rate swap are Level 2 inputs. Interest rate swaps of $1,712 and $628 at December 31, 2024 are included in Prepaid and other current assets and Other long-term assets, respectively. Interest rate swaps of $3,174 and $859 at December 31, 2023 are included in Prepaid and other current assets and Other long-term assets, respectively. Reflects impairment charges taken on certain internally developed software in the year ended December 31, 2024. Quarter was impacted by the gain on the sale leaseback transaction of $42,298, offset by $5,494 of associated transaction costs. Reflects unrelated legal and consulting fees, insurance proceeds, CEO transition costs, and, in 2022, incremental costs incurred related to the COVID-19 pandemic for the periods presented. Included in Non-qualified benefit plan assets is the cash surrender value of insurance policies on various individuals that are associated with the Company. The carrying amounts of these insurance policies approximates their fair value. The Company had outstanding loans of $546 and $750 against these Non-qualified benefit plan assets as of December 31, 2024 and December 31, 2023, respectively, included in Other long-term liabilities on the Consolidated Balance Sheets. Health Care Cost Trend rate is assumed to be 8.5% beginning in 2024 gradually reducing to an ultimate rate of 4.5% in 2033. Health Care Cost Trend rate is assumed to be 7.5% beginning in 2023 gradually reducing to an ultimate rate of 4.5% in 2032. The fair value of the Company’s long-term debt, including current maturities, is based on rates for