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Jun 27, 2020
Dorman Q2 2020 Earnings Report
Dorman's financial performance declined in the second quarter of 2020, with net sales and EPS decreasing compared to the prior year.
Key Takeaways
Dorman Products Inc. reported a decrease in net sales and earnings per share for the second quarter of 2020, as compared to the second quarter of 2019. Net sales were $233.2 million, down 8.3% from $254.2 million. Diluted EPS was $0.43, compared to $0.66 in the prior year quarter. The company noted that order volume improved throughout the quarter, with a strong June offsetting earlier declines due to COVID-19 restrictions.
Net sales decreased by 8.3% to $233.2 million compared to Q2 2019.
GAAP diluted earnings per share (EPS) decreased to $0.43 from $0.66 in Q2 2019.
Adjusted diluted EPS decreased to $0.47 from $0.68 in Q2 2019.
The company saw a rapid recovery as the quarter progressed with May orders flat to the prior year period and June orders up significantly above the prior year period.
Forward Guidance
Due to the ongoing uncertainty of the economic environment, it remains difficult to determine the full impact that the pandemic will have on overall demand and Dorman’s operations. Therefore, Dorman is not providing guidance for the remainder of fiscal 2020 at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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