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Mar 28, 2020
Dorman Q1 2020 Earnings Report
Reported a 6% increase in net sales and EPS of $0.70.
Key Takeaways
Dorman Products, Inc. reported a 6% increase in net sales to $257.7 million for the first quarter of 2020, compared to $243.8 million in the first quarter of 2019. Diluted earnings per share (EPS) on a GAAP basis was $0.70, slightly lower than the $0.71 reported in Q1 2019. The company's performance was impacted by the COVID-19 pandemic, which led to a decline in customer demand late in March.
Net sales increased by 6% to $257.7 million compared to Q1 2019.
GAAP diluted earnings per share (EPS) was $0.70, slightly down from $0.71 in Q1 2019.
Adjusted diluted EPS was $0.66, compared to $0.79 in Q1 2019.
COVID-19 pandemic negatively impacted net sales by approximately 1.5% - 2.5% in Q1 2020.
Forward Guidance
Dorman withdrew its fiscal 2020 guidance due to uncertainty regarding the impact of the COVID-19 pandemic and expects demand to continue to be soft while government-imposed restrictions remain in place.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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