secwatch.observer — SEC 8-K summary
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Issuer:     Dorman Products, Inc. (DORM)
CIK:        0000868780
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001628280-23-014744
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dorman Q1 net sales up 16% to $466.7M; GAAP EPS plunges to $0.18 from $1.11
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- Q1 net sales $466.7M (+16% YoY); GAAP diluted EPS $0.18 vs $1.11; adjusted diluted EPS $0.56 vs $1.29.
- Gross margin fell to 31.0% from 33.2% on high-cost inventory sell-through; adjusted gross margin 32.4% vs 34.1%.
- SG&A rose to 27.1% of sales from 21.5% due to SuperATV, higher interest on receivables factoring, and $4M in charges.
- Net interest expense jumped to $12.0M from $1.2M due to SuperATV acquisition debt and higher rates.
- Confirms FY2023 guidance: net sales $1.95B-$2.00B, diluted EPS $4.35-$4.55, adjusted diluted EPS $5.15-$5.35.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/868780/000162828023014744/0001628280-23-014744-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/868780/000162828023014744/dorm-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-014744

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