PLOW

Key takeaways

• Revenue rose 10.5% to $214.6 million, driven by a recovery in Work Truck Attachments volume after normal snowfall in core North American markets revived re-order demand from professional plowers.
• Gross margin expanded 0.1 points to 31.1%, as the higher-margin attachments volume improved absorption of fixed manufacturing costs and shifted segment mix favorably.
• Operating income fell 4.2% to $35.4 million, and operating margin contracted 2.5 points to 16.5%, because the prior-year quarter included a $30.7 million non-cash gain from the change in fair value of a contingent consideration liability that did not recur.