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Dec 26, 2020
Dorman Q4 2020 Earnings Report
Reported record quarterly net sales and EPS, propelled by robust demand and strong execution.
Key Takeaways
Dorman Products, Inc. reported a strong fourth quarter in 2020, with net sales reaching $301.2 million, a 26% increase compared to Q4 2019. GAAP diluted EPS was $1.11, up 106% from $0.54 in the prior year, and adjusted diluted EPS was $1.19, a 129% increase from $0.52 in Q4 2019. The company surpassed $1 billion in annual net sales for the first time in its history.
Dorman surpassed $1 billion in annual net sales in 2020 for the first time in company history.
Record quarterly net sales and earnings per share were driven by robust demand and strong execution.
Net sales reached $301.2 million, a 26% increase compared to $239.6 million in Q4 2019.
GAAP diluted EPS was $1.11, up 106% compared to $0.54 in Q4 2019; adjusted diluted EPS was $1.19, up 129% compared to $0.52 in Q4 2019.
Dorman
Dorman
Forward Guidance
Dorman will not be providing guidance for the 2021 fiscal year at this time due to the uncertain environment regarding the COVID-19 pandemic.
Positive Outlook
- Company feels well-positioned for 2021.
- Company will continue to execute on our strategic initiatives.
- Company feels confident that this will result in continued strong organic growth.
- Company will pursue strategic acquisitions.
- Company expects to lead to long term shareholder value.
Challenges Ahead
- COVID-19 situation remains uncertain and continues to evolve.
- Difficult to determine the full impact that the pandemic will have on overall demand and Dorman’s operations.
- Environment remains extremely fluid given the number of uncertainties regarding the COVID-19 pandemic.
- Uncertainties include new strains of the virus.
- Uncertainties include freight and logistical challenges and the pace of vaccinations.