Dorman Q3 2023 Earnings Report
Key Takeaways
Dorman Products reported an 18% increase in net sales to $488.2 million, with record diluted EPS of $1.28, up 32%, and adjusted diluted EPS of $1.40, up 20%. The company generated $56 million in cash from operating activities and repaid $50 million of debt. However, due to softer demand, the company lowered its full-year net sales and earnings forecast.
Net sales increased by 18% to $488.2 million.
Record diluted EPS reached $1.28, a 32% increase.
Adjusted diluted EPS hit a record of $1.40, up 20% year-over-year and 39% compared to the previous quarter.
Generated $56 million in cash from operating activities and repaid $50 million of debt.
Dorman
Dorman
Forward Guidance
The company has updated its full-year 2023 guidance, which includes the impact of the SuperATV acquisition but excludes any potential impacts from future acquisitions, additional supply chain disruptions, significant interest rate increases, or share repurchases. Net Sales are expected to be $1.925B – $1.945B. Diluted EPS is expected to be $3.75 – $3.95. Adjusted Diluted EPS is expected to be $4.35 – $4.55.