Dorman Q3 net sales up 16% to $348.4M; GAAP EPS $1.04, adjusted $1.18; completes Dayton Parts acquisition

Dorman Products, Inc.

2021-Q3 EPS reported $3.04 revenue$947,073,000

Record net sales $348.4M (+16% YoY); GAAP diluted EPS $1.04 vs $1.06; adjusted diluted EPS $1.18 vs $1.14.
Gross margin fell to 33.5% (35.9% Q3 2020) due to transportation/inflation; pass-through pricing to offset but lowers margin%.
Completed Dayton Parts acquisition in August using $252M debt + $102M cash; net leverage 0.80x; $350M available on credit facility.
FY 2021 guidance: net sales growth now 19%-22% (revised up); adjusted EPS unchanged $4.56-$4.80.
Repurchased 232,618 shares for $23.2M at avg $99.81; $153M remaining under authorization.

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