Filing Flows › Douglas Dynamics (PLOW) › Q3 2026
Douglas Dynamics (PLOW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Douglas Dynamics (PLOW) reported revenue of $218M for the third quarter 2026 (Q3 2026), +34% from a year earlier and +2% from the quarter before. Operating margin was 14.3%, net earnings $21.2M (9.7% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | +2% | +34% |
| Gross profit | $59.8M | -10% | +57% |
| Operating profit | $31.3M | -12% | +122% |
| Net earnings | $21.2M | -17% | +166% |
| Operating cash flow | −$22.3M | — | — |
What changed
Revenue was $218.0M in Q3 2026, up 34% year over year and up 2% from the previous quarter. Independent Dealer was the largest line at 70% of revenue. Independent Dealer added $53.0M year over year (up 53%), 95% of the total change. Product and Service, Other declined 41%.
Gross margin was 27.4%, up 3.9 points from Q3 2025. Operating profit was $31.3M, a 14.3% margin (up 5.7 points year over year). Of the extra revenue versus Q3 2025, 31% reached operating profit, above the 9% margin then. Operating expenses grew 19% against revenue growth of 34%. The fastest-growing cost line was SG&A (+20%). Net earnings were $21.2M, up 166% year over year. The effective tax rate was 25.4%.
Operating cash flow was −$22.3M. Non-cash charges added back $3.8M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items used $49.1M. Capital expenditures of $3.9M exceeded it, leaving free cash flow of −$26.2M.
Questions
What was Douglas Dynamics' revenue in the third quarter 2026?
Douglas Dynamics (PLOW) reported revenue of $218M for the third quarter 2026 (Q3 2026), +34% from a year earlier and +2% from the quarter before.
Was Douglas Dynamics profitable in the third quarter 2026?
Operating profit was $31.3M (14.3% of revenue) and net earnings $21.2M.
Source: Douglas Dynamics 10-Q on SEC EDGAR.