Douglas Dynamics, Inc. (NYSE:PLOW) Q1 2024 Earnings Conference Call April 30, 2024 10:00 AM ET

Company Participants

Nathan Elwell - Vice President, Investor Relations
Bob McCormick - President and Chief Executive Officer
Sarah Lauber - Executive Vice President and Chief Financial Officer

Conference Call Participants

Robert Schultz - Baird
Linda Weiser - D.A. Davidson

Operator

Good day and welcome to the Douglas Dynamics First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Nathan Elwell, VP of IR. Please go ahead.

Nathan Elwell

Thank you. Welcome, everyone, and thank you for joining us on today’s call. Before we begin, I would like to remind you that some of the comments that will be made during this conference call, including answers to your questions will constitute forward-looking statements. These forward-looking statements are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters that we have described in yesterday’s press release and in our filings with the SEC.

Joining me on the call today is Bob McCormick, President and CEO; and Sarah Lauber, Executive Vice President and CFO. Bob will provide an overview of our performance, followed by Sarah reviewing our financial results and guidance. After that, we’ll open up the call for questions.

With that, I’ll hand the call over to Bob. Please go ahead.

Bob McCormick

Thanks, Nathan. Our results for the first quarter of 2024, reflect a continuation of trends we saw last year. Work Truck Solutions continues to deliver improved results, while Work Truck Attachments, is being hindered by unprecedented weather conditions. Having said that, we are pleased to report improved performance across the board this quarter compared to last year.

The performance of our Solutions segment was again the highlight. This is the seventh consecutive quarter of improved performance versus the prior year same quarter. I’d like to thank the Solutions teams for their continued hard work. When chassis supply was at its worst, they stayed focused on what they could control and used DDMS to get better every day, knowing that when chassis supply improved, they’d exit stronger and more profitable. Great job.

Now let me run through our performance in each segment. Despite experiencing the second winter in a row with significantly below average snowfall in all of our core markets, our Work Truck Attachments team still managed to deliver improved results compared to last year. Snowfall in the first quarter this year was better than the fourth quarter of 2023, and on the East Coast, conditions were better than the previous winter.