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Jun 29, 2024
Dorman Q2 2024 Earnings Report
Achieved significant EPS increase driven by Light Duty segment growth, partially offset by declines in Heavy Duty and Specialty Vehicle segments.
Key Takeaways
Dorman Products reported a 4.7% increase in net sales to $503.0 million and a 47% increase in diluted EPS to $1.53 for the second quarter of 2024. The company is raising its full-year earnings guidance for 2024.
Net sales increased by 4.7% to $503.0 million compared to the prior year.
Diluted earnings per share increased by 47% to $1.53 compared to the prior year.
Adjusted diluted EPS increased by 65% to $1.67 compared to the prior year.
The company generated $63 million in cash from operating activities, repaid $15 million of debt, and repurchased $25 million of its shares.
Dorman
Dorman
Dorman Revenue by Segment
Revenue by Segment
Light Duty Revenue
CapyFin.comHeavy Duty Revenue
CapyFin.comSpecialty Vehicle Revenue
CapyFin.com Forward Guidance
The Company updates its full-year 2024 guidance, which excludes any potential impacts from future acquisitions and divestitures, supply chain disruptions, significant inflation, interest rate changes and additional share repurchases. They now expect diluted EPS to be in the range of $5.32 to $5.52 and adjusted diluted EPS to be in the range of $6.00 to $6.20.
Positive Outlook
- Net Sales Growth vs. 2023: 3% – 5%
- Diluted EPS: $5.32 – $5.52
- Growth vs. 2023: 30% – 35%
- Adjusted Diluted EPS: $6.00 – $6.20
- Growth vs. 2023: 32% – 37%
Challenges Ahead
- Potential impacts from future acquisitions and divestitures are excluded.
- Potential supply chain disruptions are excluded.
- Significant inflation impacts are excluded.
- Interest rate changes impacts are excluded.
- Additional share repurchases impacts are excluded.
Revenue & Expenses
Visualization of income flow from segment revenue to net income