Filing Flows › Douglas Dynamics (PLOW) › Q3 2026 › vs Q3 2025
Douglas Dynamics (PLOW) Q3 2026 vs Q3 2025 (year over year)
Douglas Dynamics's revenue rose $55.9M (+34%) from $162M in Q3 2025 to $218M in Q3 2026. The biggest changes: Independent Dealer +$53.0M (+53%); Government Contract +$9.2M (+25%); Fleet −$5.3M (-24%). Gross margin 27.4% against 23.5% (+3.9 pts).
Douglas Dynamics, Q3 2026: revenue $218M (+34% year over year), operating margin 14.3%, net earnings $21.2M, operating cash flow −$22.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 27.4% | 23.5% | +3.9 pts |
| Operating margin | 14.3% | 8.7% | +5.7 pts |
| Net margin | 9.7% | 4.9% | +4.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Independent Dealer | $153M | $100M | $53.0M | +53% |
| Government Contract | $46.9M | $37.6M | $9.2M | +25% |
| Fleet | $16.7M | $22.0M | −$5.3M | -24% |
| Product and Service, Other | $1.5M | $2.6M | −$1.0M | -41% |
| Revenue | $218M | $162M | $55.9M | +34% |
| Gross profit | $59.8M | $38.1M | $21.7M | +57% |
| Cost of revenue | $158M | $124M | $34.2M | +28% |
| Operating profit | $31.3M | $14.1M | $17.2M | +122% |
| Operating expenses | $28.6M | $24.0M | $4.5M | +19% |
| Pre-tax earnings | $28.4M | $10.4M | $17.9M | +172% |
| Other expense, net | $2.9M | $3.7M | −$752K | -20% |
| SG&A | $27.0M | $22.5M | $4.6M | +20% |
| Other operating costs | $1.5M | $1.6M | −$33K | -2% |
| Net earnings | $21.2M | $8.0M | $13.2M | +166% |
| Income tax | $7.2M | $2.5M | $4.7M | +194% |
| Operating cash sources | $49.1M | $21.8M | $27.3M | +125% |
| Depreciation & amortization | $3.8M | $3.8M | −$37K | -1% |
| Share-based compensation | $1.8M | $1.5M | $301K | +20% |
| Cash used in operations | $22.3M | $8.5M | $13.8M | +162% |
| Working capital & other | $49.1M | $21.8M | $27.3M | +125% |
Questions
How much did Douglas Dynamics's revenue grow year over year in Q3 2026?
Douglas Dynamics's revenue rose $55.9M (+34%) from $162M in Q3 2025 to $218M in Q3 2026.
What drove Douglas Dynamics's revenue change in Q3 2026?
Independent Dealer +$53.0M (+53%); Government Contract +$9.2M (+25%); Fleet −$5.3M (-24%).