Dorman Q2 net sales +34% to $417.4M; lowers FY EPS guidance on higher rates

Dorman Products, Inc.

2022-Q2 EPS reported $2.32 revenue$818,998,000

Q2 net sales $417.4M (+34% YoY); diluted EPS $1.20, adjusted diluted EPS $1.29.
FY2022 diluted EPS guidance lowered to $4.50-$4.70 from $4.94-$5.14; adjusted to $5.00-$5.20 from $5.35-$5.55.
Share repurchase program increased by $100M to $600M total, extended through Dec 31, 2024.
Gross margin 33.9% vs 35.5%; higher interest costs on factoring and debt impacted profitability.
Repurchased 67,700 shares for $6.5M in Q2 at avg $96.38/share.

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