Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-34728 DOUGLAS DYNAMICS, INC. (Exact name of registrant as specified in its charter) (State or other jur ...

Douglas Dynamics (NYSE:PLOW) Q3 2025 Earnings Call November 04, 2025 10:00 AM ET Speaker3Today and welcome to the Douglas Dynamics third quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touch-tone phone. To withdraw your question, ple ...

Exhibit 99.1 For further information contact: Douglas Dynamics, Inc. Nathan Elwell Vice President of Investor Relations 847-530-0249 investorrelations@douglasdynamics.com DOUGLAS DYNAMICS REPORTS THIRD QUARTER 2025 RESULTS Work Truck Solutions Continues to Deliver Record Results; Raises 2025 Guidance Ranges Third Quarter 2025 Highlights*: *All comparisons are to third quarter 2024 financials, which included one-time gain of approximately $42.3 million from the sale leaseback transaction completed in Septemb ...

Third Quarter 2025 Highlights*: Consolidated Net sales increased 25% Earnings improvements across both segmentsSolutions achieves another record quarter with Net sales and earnings growth of over 30%Paid $0.295 per share cash dividend on September 30, 2025Announced acquisition of Venco Venturo - highly-regarded provider of truck-mounted service cranes and dump hoists*All comparisons are to third quarter 2024 financials, which included one-time gain of approximately $42.3 million from the sale leaseback tran ...

MILWAUKEE, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE: PLOW), North America’s premier manufacturer and upfitter of work truck attachments and equipment, today announced that it has completed the acquisition of substantially all the assets of Venco Venturo Industries LLC, a well-established and highly-regarded provider of truck-mounted service cranes and dump hoists. Mark Van Genderen, President and CEO of Douglas Dynamics, noted, “This acquisition represents a meaningful first step in th ...

MILWAUKEE, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Douglas Dynamics, Inc. (NYSE: PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, today announced that it will release financial results for the third quarter of 2025 after market close on Monday, November 3, 2025. A conference call will be held to discuss the financial results on Tuesday, November 4, 2025 at 9:00 a.m. Central Time and will be hosted by Mark Van Genderen, President and Chief Executive Officer and Sara ...

公司表现 - Douglas Dynamics（PLOW）年初至今股价上涨37.9% 显著跑赢汽车-轮胎-卡车行业平均下跌6.4%的表现 [4] - 公司当前Zacks评级为2（买入） 反映盈利预期改善趋势 [3] - 过去90天内全年盈利共识预期上调4.7% 显示分析师情绪转好 [4] 同业比较 - QuantumScape（QS）同期上涨60.9% 为行业另一表现突出个股 [5] - QS全年EPS共识预期过去三个月上调11.2% 同样持有Zacks 2（买入）评级 [5] - 汽车-轮胎-卡车行业涵盖96只个股 在Zacks行业排名中位列第11位 [2] 细分行业定位 - Douglas Dynamics所属汽车替换零件行业含6家公司 行业排名第193位 [6] - 该细分行业年初至今平均下跌4.4% PLOW表现远超行业均值 [6] - QuantumScape所属汽车原设备行业含50家公司 行业排名第81位 [6] - 原设备行业年初至今上涨10.9% 整体表现优于替换零件行业 [6]

公司财务表现 - 预计Douglas Dynamics公司在2025财年实现收入同比增长 主要增长动力来自工作卡车附件业务和市政业务 [1] 业务板块分析 - 工作卡车附件板块成为公司收入增长的核心驱动因素 [1] - 市政业务同样贡献显著增长动力 [1] 投资策略聚焦 - 研究主要关注工业、消费和科技领域的GARP（合理价格增长）机会 [1]

行业核心观点 - 行业面临技术复杂性提升带来的供应链挑战和数字化转型压力 但老旧车辆增加支撑替换零件需求 [1] - 行业处于Zacks排名后20% 短期前景黯淡 过去一年2025年和2026年盈利预期分别下调11.30%和8.4% [6][7] - 行业过去一年表现落后 下跌19.5% 同期板块上涨12.2% 标普500上涨15.7% [9] 行业定义与特征 - 行业专注于汽车后市场替换零部件的生产、营销和分销 [2] - 提供发动机、转向系统、驱动桥、悬挂、刹车和变速箱等重要部件 [2] - 行业对经济衰退敏感度较低 因消费者倾向于维修而非购买新车 [2] 技术演进影响 - 车辆技术复杂化导致维修时间延长和成本上升 [3] - 电动化、智能化和自动驾驶车辆需要全新零部件和服务能力 [3] - 技术变革可能压缩行业参与者的利润率 [3] 数字化转型 - 消费者加速转向电商平台购买汽车零件 [4] - 企业需要重大投资建立数字能力 [4] - 数字投资增强长期前景但挤压短期现金流 [4] 需求驱动因素 - 美国车辆平均车龄从2024年12.6年升至2025年12.8年 [5] - 新车和二手车价格高企促使车主延长现有车辆使用寿命 [5] - 老旧车辆增加推动替换零件需求增长 [1][5] 行业估值 - 行业当前EV/EBITDA为6.89倍 低于标普500的17.81倍和板块的22.03倍 [12] - 过去五年估值区间为6.04-12.15倍 中位数为10.36倍 [12] 重点公司-Dorman - 2025年净销售增长率预期从3-5%上调至7-9% [14] - 过去四季盈利均超预期 平均超出23.12% [15] - 2025年盈利预计同比增长18.1% [15] 重点公司-Standard Motor - 2024年11月完成收购Nissens 预计24个月内实现800-1200万美元年化成本节约 [19] - 2025年销售额和盈利预计分别增长19.8%和16.7% [20] 重点公司-Douglas - 2025年第二季度解决方案部门净销售增长5.4% 调整后EBITDA增长39.8% [23] - 2025年净销售预期从6.1-6.5亿美元上调至6.3-6.6亿美元 [23] - 2025年销售额和盈利预计分别增长13.3%和46.9% [24]

股价表现 - 公司股价过去一个月上涨11.4% 创52周新高32.41美元 [1] - 年初至今累计上涨36.5% 同期汽车轮胎卡车板块下跌8.2% 汽车替换零件行业下跌4.2% [1] - 同业公司Standard Motor Products过去一个月上涨23.6% [11] 盈利表现 - 连续四个季度超出盈利预期 最近季度每股收益1.14美元远超共识预期0.84美元 [2] - 本财年预计每股收益2.16美元（同比增长46.94%）营收6.441亿美元（同比增长13.3%） [3] - 下一财年预计每股收益2.34美元（同比增长8.33%）营收6.739亿美元（同比增长4.63%） [3] - 同业公司Standard Motor Products上季度盈利超预期32.99% 本财年预计每股收益3.67美元营收17.4亿美元 [10] 估值指标 - 当前市盈率14.9倍 高于行业平均14.4倍 [7] - 现金流倍数15.2倍 显著高于行业平均8.5倍 [7] - PEG比率1.07 处于行业领先水平 [7] - 同业公司Standard Motor Products前瞻市盈率10.96倍 现金流倍数8.41倍 [11] 投资评级 - 获得Zacks买入评级（第二级） [8] - 价值评分A级 增长评分B级 动量评分D级 综合VGM评分A级 [6] - 同业公司Standard Motor Products同样获得买入评级 价值评分A级 增长评分B级 动量评分D级 [9] 行业地位 - 汽车替换零件行业在Zacks行业排名中处于后71%分位 [11] - 公司与同业企业均呈现强劲基本面支撑 [11]