Dorman Q2 net sales $480.6M (+15%), but adj. EPS $1.01 vs $1.29 YoY

Dorman Products, Inc.

2023-Q2 EPS reported $1.22 revenue$947,306,000

Net sales $480.6M, up 15% YoY; organic ex-acquisitions up 1%.
GAAP diluted EPS $1.04; adjusted diluted EPS $1.01, down from $1.29.
Adjusted gross margin improved 110 bps to 35.1% sequentially; up 270 bps vs Q1.
Generated $67M operating cash; repaid $52M debt; inventory down $113M since Dec 2022.
Reaffirmed FY2023 guidance: net sales $1.95-2.00B, adj. diluted EPS $5.15-5.35.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Dorman Products, Inc. reported second fiscal quarter ended July 1, 2023 results: revenue $480.6 million, net income $32.8 million, EPS $1.04 per diluted share. Guidance reaffirmed.

Period: second fiscal quarter ended July 1, 2023
Revenue: $480.6 million
Net income: $32.8 million
EPS: $1.04 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reports Second Quarter 2023 Results Highlights (All comparisons are to the prior year period unless otherwise noted) : • Net sale s of $480.6 million, up 15% • Diluted earnings per share (“EPS”) of $1.04, compared to $1.20 • Adjusted diluted EPS* of $1.01, compared to $1.29 • Generated $67 million of cash from operating activities; repaid $52 million of debt • The Company confirms its full-year 2023 guidance of net sales of $1.95 billion to $2.00 billion, diluted EPS of $4.35 to $4.55, and adjusted diluted EPS* of $5.15 to $5.35 COLMAR, PA ( August 1, 2023 ) – Dorman Products, Inc.

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Source: SEC EDGAR

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