Douglas Dynamics Q1 2025: Sales Hit $200M, Net Income Steady

TL;DR

DD: Q1 sales $200M, net income $23.2M. Steady performance.

AI Summary

Douglas Dynamics, Inc. reported its first quarter 2025 results, with net sales of $200 million for the three months ended March 31, 2025. The company's net income was $23.2 million, compared to $23.1 million in the same period last year. The filing also mentions impairment charges on software from the prior year and details on steel hedging instruments.

Why It Matters

This filing provides insight into Douglas Dynamics' financial performance in early 2025, indicating stable profitability despite potential market fluctuations reflected in hedging instruments.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags.

Key Numbers

• $200.0M — Net Sales (For the three months ended March 31, 2025)
• $23.2M — Net Income (For the three months ended March 31, 2025, showing slight growth from $23.1M in Q1 2024)
• $29 — Steel Hedging Instruments (Value at March 31, 2025, impacting current assets)

Key Players & Entities

• Douglas Dynamics, Inc. (company) — Filer of the 10-Q report
• 20250331 (date) — End of the reporting period
• 20250506 (date) — Filing date
• $200,000,000 (dollar_amount) — Net sales for the three months ended March 31, 2025
• $23,209,426 (dollar_amount) — Net income for the three months ended March 31, 2025
• $23,094,047 (dollar_amount) — Net income for the three months ended March 31, 2024

FAQ

From the Filing

0001437749-25-014753.txt : 20250506 0001437749-25-014753.hdr.sgml : 20250506 20250506160203 ACCESSION NUMBER: 0001437749-25-014753 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 89 CONFORMED PERIOD OF REPORT: 20250331 FILED AS OF DATE: 20250506 DATE AS OF CHANGE: 20250506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOUGLAS DYNAMICS, INC CENTRAL INDEX KEY: 0001287213 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION MACHINERY & EQUIP [3531] ORGANIZATION NAME: 06 Technology EIN: 134275891 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-34728 FILM NUMBER: 25917098 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-Q 1 plow20250331_10q.htm FORM 10-Q plow20250331_10q.htm 0001287213 DOUGLAS DYNAMICS, INC false --12-31 Q1 2025 0.01 0.01 200,000,000 200,000,000 23,209,426 23,209,426 23,094,047 23,094,047 4 176 22 14 133 2 2 0 1 3 4 2 1 http://fasb.org/us-gaap/2025#PrimeRateMember 2 1 1 5 10 2 2 false false false false Reflects impairment charges taken on certain internally developed software in the three months ended March 31, 2024 . Valuation models are calibrated to initial trade price. Subsequent valuations are based on observable inputs to the valuation model (e.g., market prices). Model inputs are changed only when corroborated by market data. Thus, inputs used to determine fair value of the interest rate swap are Level 2 inputs. Steel hedging instruments of $29 and $54 at March 31, 2025 and December 31, 2024, respectively, are included in Prepaid and other current assets and Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets, respectively. ? Reflects unrelated legal, severance, restructuring and consulting fees for the periods presented. 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. The fair value of the Company’s long-term debt, including current maturities, approximates its carrying value. Long-term debt is recorded at carrying amount, net of discount and deferred debt issuance costs, as disclosed on the face of the balance sheet. 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 amount of these insurance policies approximates their fair value and is considered a Level 2 input. The Company had outstanding loans of $427 and $546 against these Non-qualified benefit plan assets as of March 31, 2025 and December 31, 2024, respectively, included in Other long-term liabilities on the Condensed Consolidated Balance Sheets, respectively. ? 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 $1,489 and $176 at March 31, 2025 are included in Prepaid and other current assets and Other long-term assets, respectively. 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. These components are included in the computation of benefit plan costs in Note 12. 0001287213 2025-01-01 2025-03-31 xbrli:shares 0001287213 2025-05-06 iso4217:USD