Second Quarter 2026 Highlights (all comparisons to Q2 2025):

• Net sales increased 10% to a record $214.6 million
• Net income of $25.4 million, with $1.07 of diluted EPS
• Adjusted EBITDA increased 5% to a record $44.6 million
• Adjusted diluted EPS increased 7% to a record $1.22
• Returned approximately $10 million of cash to shareholders

MILWAUKEE, Aug. 3, 2026 (GLOBE NEWSWIRE) — Douglas Dynamics, Inc. (NYSE: PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, announced financial results for the second quarter ended June 30, 2026. All comparisons are between the second quarters of 2026 and 2025 unless otherwise noted.

As a seasonal business whose core snow and ice control products are deployed during winter months, Douglas Dynamics typically recognizes a substantial portion of annual Attachments revenue through pre-season shipments to dealers in the second and third quarters, making these results a key indicator of full-year demand.

President & CEO Mark Van Genderen stated: "Our team delivered another quarter of strong results as we continue advancing our long-term vision to build a comprehensive portfolio of trusted work vehicle attachments and solutions that set the standard for safety, quality, and productivity. As we move through the second half of the year, we are confident in our team's ability to execute our strategic priorities, and we believe we are on track to deliver record annual results in 2026."

Consolidated Second Quarter 2026 Results

Net sales rose 10% to a record $214.6 million, driven by strong pre-season orders in the Work Truck Attachments segment. Net income of $25.4 million translated to $1.07 of diluted EPS. Adjusted EBITDA climbed 5% to a record $44.6 million, fueling record adjusted diluted EPS of $1.22 — a 7% increase.

Work Truck Attachments Segment — Q2 2026

Net sales surged 20% to $129.3 million, supported by robust demand for snow and ice control products and the contribution from Venco Venturo. Venco Venturo, acquired in 2025, brought truck-mounted cranes and dump hoists into the Attachments portfolio, broadening the segment beyond its traditional snow and ice control products under the FISHER®, SNOWEX®, and WESTERN® brands. Adjusted EBITDA grew 13% to $35.8 million, producing Adjusted EBITDA margins of 27.7%. The margin profile reflected the impact of Venco Venturo, timing of pre-season shipments, and business mix.

The company expects pre-season shipments in 2026 to split approximately 50/50 between the second and third quarters, compared to a 60/40 split in 2025.

Van Genderen explained: "The strong snowfall this past winter set the stage for a robust pre-season in Attachments, and results to date have exceeded our initial expectations, particularly for parts and accessories. Based on the strength of our third-quarter projections, we anticipate preseason shipments will be split nearly evenly between the second and third quarters this year. Our team continues to execute effectively, ensuring timely deliveries to dealers and enabling installations to be completed ahead of the winter season."

Heavy winter snowfall directly drives replacement demand and dealer restocking the following pre-season, making weather patterns a leading factor in the company's Attachments performance.

Work Truck Solutions Segment — Q2 2026

Net sales of $85.3 million were relatively flat year over year. Adjusted EBITDA declined to $8.8 million, reflecting continued softness in commercial demand, partially offset by strength in municipal demand. The divergence between municipal and commercial demand tracks with broader trends in which public infrastructure spending has remained resilient while certain private commercial fleet markets have softened.

Van Genderen commented: "The Solutions segment produced a strong quarter overall, despite facing a tough comparison to record second quarter results in 2025. Municipal demand continues to be a source of strength, and we continue to invest to expand our capacity to meet customer needs. At the same time, we are navigating softer demand in select commercial business lines. As a result, we are taking targeted actions to optimize our sales and marketing efforts and align our cost structure to preserve profitability."

Dividend & Liquidity

Douglas Dynamics returned approximately $10 million of cash to shareholders through a quarterly cash dividend of $0.295 per diluted share and the repurchase of approximately 67,500 shares of company stock.

Net cash used in operating activities increased $12.5 million to $25.2 million for the first half of 2026. The increase was attributable to higher inventory levels required to meet demand across both segments, along with increased receivables driven by higher net sales.

Capital expenditures rose $2.2 million to $7.3 million in the first half of 2026, in line with plans. The company continues to expect full-year 2026 capital expenditures toward the higher end of its traditional range of 2% to 3% of net sales.

2026 Outlook

Executive Vice President and CFO Sarah Lauber stated: "Based on the strength of pre-season orders for the Attachments segment, we are raising our 2026 guidance once again. In Solutions, healthy municipal demand continues to support performance near our record 2025 levels, largely offsetting the anticipated softness in some of our commercial markets. Supported by the hard work and dedication of our team, our updated outlook highlights that we are on track to produce record annual results in 2026."

The 2026 outlook assumes relatively stable economic and supply chain conditions, that pre-season orders will ship approximately equally between the second and third quarters, and that core markets will experience average snowfall in the fourth quarter of 2026.

Regarding the 2026 financial outlook, the company noted it is unable to provide a reconciliation of non-GAAP financial measures to GAAP because it does not provide specific guidance for various extraordinary, nonrecurring, or unusual charges. These items have not yet occurred, are outside the company's control, and/or cannot be reasonably predicted. As a result, reconciliation of non-GAAP guidance measures to GAAP is not available without unreasonable effort.

Earnings Conference Call

The company will host a conference call on Monday, August 3, 2026, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). To participate, dial 1-833-634-5024 domestically or 1-412-902-4205 internationally. The call will also be accessible via the Investor Relations section of the company's website at www.douglasdynamics.com. Replay will be available for one week following the call.

About Douglas Dynamics

Douglas Dynamics is North America's premier manufacturer and up-fitter of commercial work truck attachments and equipment, home to the most trusted brands in the industry. For more than 75 years, the company has innovated products that enable people to perform their jobs more efficiently while helping businesses increase profitability. Through its proprietary Douglas Dynamics Management System (DDMS), the company is committed to continuous improvement aimed at consistently producing the highest quality products at industry-leading levels of service and delivery.

The company's portfolio is organized into two segments:

• Work Truck Attachments: Commercial snow and ice control equipment sold under the FISHER®, SNOWEX®, and WESTERN® brands, as well as truck-mounted cranes and dump hoists sold under the VENCO VENTURO® brands.
• Work Truck Solutions: Up-fit of market-leading attachments and storage solutions under the HENDERSON® and DEJANA® brands and related sub-brands.

Use of Non-GAAP Financial Measures

This press release contains financial measures not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), including Adjusted EBITDA, Adjusted Net Income, Adjusted Earnings Per Share (EPS), and Free Cash Flow. The company believes these non-GAAP measures are useful to investors in evaluating operating performance relative to other companies. Reconciliations of these measures to the nearest comparable GAAP measures accompany the Consolidated Statements of Cash Flows in the press release.

Adjusted EBITDA represents net income before interest, taxes, depreciation, and amortization, further adjusted for certain charges including unrelated legal and consulting fees, stock-based compensation, severance, restructuring charges, acquisition costs, inventory step-up related to Venco Venturo, CEO transition costs, debt modification expense, and loss on extinguishment of debt. Management uses Adjusted EBITDA to evaluate operating performance on a consistent basis by removing items not believed to directly reflect core operations, and for planning purposes including annual budget preparation and financial projections. The company also uses Adjusted EBITDA to evaluate its ability to make certain payments, including dividends, in compliance with its senior credit facilities, which reference a "Consolidated Adjusted EBITDA" calculation substantially similar to Adjusted EBITDA.

Adjusted Net Income and Adjusted EPS (diluted) represent net income and earnings per share excluding the impact of stock-based compensation, severance, restructuring charges, acquisition costs, inventory step-up related to Venco Venturo, CEO transition costs, debt modification expense, loss on extinguishment of debt, and certain unrelated legal and consulting fees. Management believes these measures are useful in assessing financial performance by eliminating expenses and income not reflective of underlying business performance.

Free Cash Flow is defined as net cash provided by (used in) operating activities less the acquisition of property and equipment. The company believes free cash flow represents its ability to generate additional cash from business operations, and should be evaluated alongside, not as a substitute for, other financial measures such as Net Income and Net Cash Provided By (Used in) Operating Activities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, financial performance, strategies, expectations, competitive environment, regulation, product demand, dividend payments, and availability of financial resources. They are often identified by words such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," and similar expressions.

Factors that could cause actual results to differ materially include, but are not limited to: weather conditions (particularly lack of or reduced snowfall and its timing); the ability to manage general economic, business, and geopolitical conditions (including impacts of natural disasters, labor strikes, global political instability, adverse developments affecting the banking and financial services industries, pandemics, and other adverse public health developments); increases in the price of steel or other materials, including as a result of tariffs, that cannot be passed on to distributors; the ability to maintain relationships with distributors and original equipment manufacturers; lack of available or favorable financing options for end-users, distributors, or customers; increases in fuel or freight prices; a significant decline in economic conditions; the inability of suppliers and OEM partners to meet volume or quality requirements; inaccuracies in demand estimates; the inability to protect or build intellectual property; effects of laws and regulations and their interpretations, including climate change-related policy changes; the inability to develop new products or improve existing ones; losses due to product-related personal injury lawsuits; factors impacting future dividend declarations or stock repurchase execution; the inability to effectively manage artificial intelligence; disruptions at manufacturing facilities; competitive pressures; the inability to implement a new enterprise resource planning system; the inability to achieve projected financial performance with the assets of Venco Venturo (acquired in 2025) and unexpected costs or liabilities related to that acquisition; as well as those discussed under "Risk Factors" in the company's annual report on Form 10-K for the year ended December 31, 2025, and any subsequent Form 10-Q filings.

The forward-looking statements speak only as of the date of this release. The company undertakes no obligation, except as required by law, to update or revise any forward-looking statement, even if new information becomes available.

Contact:

Douglas Dynamics, Inc.
Nathan Elwell, Vice President of Investor Relations
847-530-0249
[email protected]