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Douglas Dynamics, Inc. reports news on its work truck attachments and work truck solutions businesses, including commercial snow and ice control equipment, truck-mounted service cranes, dump hoists, municipal upfit work, and storage solutions. Its portfolio includes FISHER, SNOWEX, WESTERN, HENDERSON, DEJANA, VENCO and VENTURO brands across the Work Truck Attachments and Work Truck Solutions segments.
Recurring developments include operating results, snowfall- and municipal-demand trends, parts and accessories sales, capacity and manufacturing initiatives, completed acquisitions, cash dividends, outlook updates, and board governance changes.
Douglas Dynamics, Inc. (NYSE: PLOW) has declared a quarterly cash dividend of $0.28 per share for Q3 2020. This dividend will be paid on September 30, 2020, to shareholders on record as of September 18, 2020. The company emphasizes its commitment to shareholder value through continuous product innovation and quality service across its segments: Work Truck Attachments and Work Truck Solutions, which include popular brands like FISHER®, SNOWEX®, and WESTERN®.
Douglas Dynamics (NYSE: PLOW) announced that CFO Sarah Lauber was recognized as one of the Milwaukee Business Journal’s 2020 Chief Financial Officer of the Year award winners. Lauber joined Douglas three years ago and has been pivotal in enhancing the company’s financial position. Her team successfully refinanced a $325 million credit facility, bolstering the balance sheet in a challenging economic environment. Under her leadership, recent acquisitions have improved financial management, efficiency, and margins, contributing to the company’s growth strategy.
Douglas Dynamics, Inc. (NYSE: PLOW) is set to announce its second quarter 2020 financial results on August 3rd, 2020, after market close. A conference call to discuss these results will occur on August 4th, 2020, at 9:00 a.m. Central Time, led by President and CEO Bob McCormick and CFO Sarah Lauber. The call will be available via the company's website and through dedicated phone lines for domestic and international participants. Douglas Dynamics is recognized as North America's leading manufacturer and upfitter of commercial work truck attachments and equipment.
Douglas Dynamics, Inc. (NYSE: PLOW) has refinanced its senior secured credit facilities, securing $375 million in new financing. This includes a $275 million 6-year Term Loan B and a $100 million 3-year ABL Revolving Credit Facility. Proceeds will repay the existing $226 million Term Loan B due in 2021. Management cites improved liquidity and a robust capital structure as key benefits. Additionally, the company has successfully restarted operations at all 20 facilities, with 99% of furloughed employees returning. The refinancing terms are favorable, enhancing financial stability amidst current economic conditions.
Douglas Dynamics, a leading manufacturer of work truck attachments, has declared a quarterly cash dividend of $0.28 per share for Q2 2020. This dividend is set to be paid on June 30, 2020, to stockholders recorded by the close of business on June 19, 2020. With over 70 years in the industry, Douglas Dynamics is committed to product innovation and improving shareholder value through top-quality offerings and excellent service delivery.
Douglas Dynamics, Inc. (PLOW) reported Q1 2020 net sales of $68.2 million, a decline from $93.2 million in Q1 2019, significantly impacted by below average snowfall, chassis supply constraints, and the COVID-19 pandemic. Gross profit margin fell to 17.1% from 24.6%. The company incurred a loss of $10.1 million, or $(0.44) per diluted share. Total liquidity remains at $86.3 million. Due to ongoing uncertainty, 2020 guidance has been withdrawn. Facilities, temporarily closed on March 18, began phased reopening in April, aiming for full operations by the end of May.