Douglas Dynamics, Inc. Q1 FY2026 earnings call

• Both segments executed successfully with solid results. • Attachments segment benefited from above-average snowfall-driven demand. • Work Truck Solutions' municipal operations remained robust. • Strategic framework pillars: Optimize (improving demand and production planning, enhancing CPQ process, building logistics building), Expand (completing new upfit center in Missouri), Activate (progress on Venco Ventura integration and continuing M&A efforts).

For Work Truck Attachments: Net sales increased 67% to a record $60.9 million, and adjusted EBITDA increased significantly to $7.7 million. For Work Truck Solutions: Net sales decreased slightly to $76.9 million, but adjusted EBITDA increased slightly to a record $9.1 million and margin increased to a record 11.9%.

• 2026 net sales expected to be between $750 and $795 million. • Adjusted EBITDA predicted to range from $110 to $125 million. • Adjusted earnings per share expected to be in the range of $2.55 to $3.05. • Effective tax rate still expected to be approximately 24 to 25%.

• Forward-looking statements subject to risks described in press release and SEC filings. • Concerns about raw material and energy-related inflation, though teams have taken action and are monitoring.

Q: Return of final mile vehicle market?

A: Final mile business is a small portion of Dijana, still seeing softness due to commercial softness and economic uncertainty.

Q: How much of 1Q revenue upside in attachments is one-time due to snowstorms?

A: A good portion of increased expectations is attributable to strong P&A in first quarter driven by above-average snowfall, with parts and accessories being a key driver.

Q: Does new Section 232 tariff structure affect Douglas Dynamics?

A: Impact not overly material, very North America-centric, and can't say competitors are in tougher shape due to tariffs.