Douglas Dynamics, Inc. (NYSE:PLOW) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET
Company Participants
Nathan Elwell - Vice President, Investor Relations
Jim Janik - Chairman and Interim President and CEO
Sarah Lauber - Executive Vice President and CFO
Mark Van Genderen - COO and President of Work Truck Attachments
Conference Call Participants
Tim Wise - Baird
Greg Burns - Sidoti & Company
Operator
Good day, and welcome to the Douglas Dynamics Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Nathan Elwell, VP of Investor Relations. Please go ahead.
Nathan Elwell
Thank you, Nick. 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 Jim Janik, Chairman and Interim President and CEO; Sarah Lauber, Executive Vice President and CFO; and Mark Van Genderen, Chief Operating Officer and President of Work Truck Attachments. Jim will provide an overview of our performance, followed by Sarah reviewing our financial results and guidance. After that, we'll open the call for questions.
With that, I'll hand the call over to Jim. Please go ahead.
Jim Janik
Thank you, Nathan. Douglas Dynamics has a 75-year history of adapting and improving our operations. For our Attachment segment, this has been a year of adapting to very unusual weather conditions that we've seen. For our Solutions segment, it has been a year of delivering improvements following the challenging work put in over the past few years that is now paying off. This was a positive quarter for the company and I'm very impressed with the operational improvements that have been made. I want to recognize the dedication and resilience of our team which continually allows us to maximize our potential in all market conditions.
With that said, let's talk about what happened in the third quarter. First, we saw an impressive performance from Work Truck Solutions, which is becoming a very nice trend. Our Henderson operations are outperforming expectations this year, helping to drive record double-digit adjusted EBITDA margins for the quarter in Solutions. Second, our results at Work Truck Attachments were more or less in line with our expectations. The other key factor this quarter was the 2024 cost savings program.