In the second quarter of 2025, Douglas Dynamics reported a 6.6% increase in consolidated net income to $26.0 million, or $1.09 per diluted share. The Solutions segment achieved record results with 5.4% net sales growth and 39.8% adjusted EBITDA growth. Pre-season demand and shipments at Attachments are proceeding as expected, returning approximately $13 million of cash to shareholders. Consolidated results were comparable to the same period last year, with net sales at $194.3 million and net income at $26.0 million, a 6.6% increase.

The Work Truck Attachments segment saw a decrease in net sales to $108.1 million and adjusted EBITDA to $31.6 million due to the timing of pre-season shipments. The Work Truck Solutions segment delivered record results with net sales increasing 5.4% to $86.2 million and adjusted EBITDA increasing 39.8% to $11.0 million. The company’s 2025 outlook has been updated, with net sales expected to be between $630 million and $660 million and adjusted EBITDA ranging from $82 million to $97 million.

In terms of financials, the company’s net cash used in operating activities decreased by $6.4 million in the first half of 2025, with total inventory at $153.3 million. Capital expenditures increased by $2.4 million compared to 2024, and the leverage ratio at the end of the quarter was 2.0X, significantly improved from 3.3X. The company returned $12.9 million of cash to shareholders through a quarterly dividend and stock repurchase.

Read more at GlobeNewswire: Douglas Dynamics Reports Second Quarter 2025 Results