Douglas Dynamics | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 214.65 M

Revenue: As of FY2026 Q2, the actual value is USD 214.65 M, missing the estimate of USD 219.45 M.

EPS: As of FY2026 Q2, the actual value is USD 1.07, beating the estimate of USD 0.95.

EBIT: As of FY2026 Q2, the actual value is USD 36.04 M.

Consolidated Second Quarter 2026 Results

Net Sales for Douglas Dynamics, Inc. increased 10% to $214.6 million for the second quarter of 2026, up from $194.3 million in the second quarter of 2025. Net Income was $25.4 million, a decrease from $26.0 million in the prior year quarter. Adjusted EBITDA increased 5% to a record $44.6 million, compared to $42.6 million in the second quarter of 2025. Gross Profit Margin was 31.1%, a slight increase from 31.0% in the second quarter of 2025. Income from Operations decreased to $35.4 million from $37.0 million year-over-year. Adjusted EBITDA Margin was 20.8%, down from 21.9% in the second quarter of 2025. Adjusted Net Income increased to $28.9 million from $27.2 million in the comparative quarter. The company returned approximately $10 million of cash to shareholders during the second quarter of 2026.

Work Truck Attachments Segment

Net Sales for the Work Truck Attachments segment increased 20% to $129.3 million, up from $108.1 million in the second quarter of 2025. Adjusted EBITDA for this segment increased 13% to $35.8 million, compared to $31.6 million in the prior year period. The Adjusted EBITDA Margin was 27.7%, a decrease from 29.2% in the second quarter of 2025. Pre-season shipments in 2026 are expected to be split nearly evenly between the second and third quarters, differing from the 60% to 40% split in 2025.

Work Truck Solutions Segment

Net Sales for the Work Truck Solutions segment were $85.3 million, relatively flat compared to $86.2 million in the second quarter of 2025. Adjusted EBITDA decreased to $8.8 million from $11.0 million in the second quarter of 2025. The Adjusted EBITDA Margin for this segment was 10.3%, down from 12.8% in the prior year quarter.

Liquidity and Cash Flow (Six Month Period Ended June 30, 2026)

Net cash used in operating activities increased by $12.5 million to - $25.2 million for the first half of 2026, compared to - $12.721 million for the first half of 2025. Capital expenditures increased by $2.2 million to $7.3 million in the first half of 2026, up from $5.126 million in the first half of 2025. Free cash flow for the six months ended June 30, 2026, was - $32.496 million, compared to - $17.847 million for the same period in 2025.

2026 Outlook

Douglas Dynamics, Inc. raised its 2026 guidance for Net Sales, now projected between $765 million and $805 million, and increased its Adjusted EBITDA guidance to a range of $120 million to $135 million. The company expects 2026 Capital Expenditures to be towards the higher end of the traditional range of 2% to 3% of Net Sales. This updated outlook suggests the company is on track to produce record annual results in 2026, driven by strong pre-season orders in the Attachments segment and healthy municipal demand in the Solutions segment.