Revenue: As of FY2026 Q1, the actual value is USD 137.8 M, beating the estimate of USD 133.25 M.

EPS: As of FY2026 Q1, the actual value is USD 0.26, beating the estimate of USD 0.09.

EBIT: As of FY2026 Q1, the actual value is USD 11.98 M.

Consolidated First Quarter 2026 Results

Douglas Dynamics, Inc. (道格拉斯动力) reported a 20% increase in Net Sales, reaching a record $137.8 million for the first quarter of 2026, compared to $115.1 million in the first quarter of 2025. Gross Profit Margin improved to 27.4% in Q1 2026 from 24.5% in Q1 2025. Income from Operations rose to $9.9 million in Q1 2026, up from $3.2 million in Q1 2025. Net Income substantially increased to $6.4 million in Q1 2026, compared to $0.1 million in Q1 2025. Adjusted EBITDA grew by 78% to a record $16.8 million in Q1 2026, from $9.4 million in Q1 2025, leading to an Adjusted EBITDA Margin of 12.2% in Q1 2026, up from 8.2% in Q1 2025. Adjusted Net Income was $8.6 million in Q1 2026, an increase from $2.2 million in Q1 2025.

Work Truck Attachments Segment

Net Sales for the Work Truck Attachments segment increased by 67% to a record $60.9 million in Q1 2026, driven by strong snow and ice product demand and a full quarter of sales from the Venco Venturo acquisition in November 2025. Adjusted EBITDA for this segment materially increased to $7.7 million, with an Adjusted EBITDA Margin of 12.6% in Q1 2026, significantly up from 0.9% in Q1 2025. Above-average snowfall in core markets contributed to a surge in demand and record shipments of parts and accessories.

Work Truck Solutions Segment

Net Sales for the Work Truck Solutions segment slightly decreased to $76.9 million in Q1 2026, from $78.6 million in Q1 2025. Adjusted EBITDA for this segment remained stable at $9.1 million in both Q1 2026 and Q1 2025. The Adjusted EBITDA margin increased to a record 11.9% in Q1 2026, up from 11.6% in Q1 2025. Solid performance from municipal operations offset slightly softer demand in certain commercial business segments.

Cash Flow and Liquidity

Douglas Dynamics, Inc. returned approximately $10.1 million of cash to shareholders through a quarterly cash dividend of $0.295 per diluted share and the repurchase of about 70,000 shares. Net cash used in operating activities was - $1.0 million, which was consistent with the prior year, primarily due to improved earnings offset by working capital changes. Free cash flow was - $4.155 million in Q1 2026, compared to - $3.498 million in Q1 2025.

2026 Outlook

Douglas Dynamics, Inc. is increasing its 2026 outlook due to strong first-quarter results, expecting moderation in the commercial sector balanced by positive momentum in municipal operations. The updated 2026 Net Sales guidance is between $750 million and $795 million, and Adjusted EBITDA guidance is now $110 million to $125 million. The effective tax rate is expected to remain between 24% and 25%, assuming stable economic and supply chain conditions, with pre-season orders shipped equally between the second and third quarters, and average snowfall in core markets during the fourth quarter of 2026.