NASDAQ$DORM

Dorman Products Inc · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Reported record quarterly sales and EPS growth.

Dorman Products reported a record quarterly net sales of $310.6 million, a 33% increase compared to Q2 2020. Diluted earnings per share (EPS) was $0.99, compared to $0.43 in Q2 2020, and adjusted diluted EPS was $1.10, compared to $0.47 in the same quarter last year.

  • Record net sales of $310.6 million, up 33% compared to Q2 2020, driven by organic growth across all channels and the absence of prior year shut-downs.
  • Diluted EPS of $0.99, significantly higher than $0.43 in Q2 2020.
  • Adjusted diluted EPS of $1.10, compared to $0.47 in Q2 2020.
  • Gross margin expanded due to fixed cost leverage, improved efficiencies, and the absence of COVID-19 related costs, despite higher freight costs.

Headline financials

Total Revenue

$311M

Previous: $233M+33.2%
EPS (adj)

$1.10

Previous: $0.47+134.0%
Gross Margin

35.5%

Previous: 33.9%+4.7%
Capital Expenditures

-$10.2M

Previous: -$7.14M-42.1%
Free Cash Flow

$21.5M

Previous: $6.74M+218.4%
Net Income

$31.6M

Previous: $13.9M+127.7%
Operating Income

$40.6M

Previous: $17.6M+130.4%
Gross Profit

$110M

Previous: $79.1M+39.1%
Cash & Equivalents

$156M

Previous: $360M-56.7%
Total Assets

$1.27B

Previous: $1.18B+7.6%
Stock-Based Comp

$2.38M

Previous: $1.5M+58.2%

Revenue & EPS history

Dorman · Revenue · Quarterly

$311M

Q2 2021+33.2%vs Q2 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Forward guidance

The Company confirms its previously issued 2021 guidance, which excludes any impact from the pending Dayton Parts acquisition.

Tailwinds

  • Maintaining outlook reflects expectations for performance.
  • Visibility into the remainder of the year.
  • Automotive aftermarket industry dynamics will remain strong.
  • Balance sheet and liquidity remain strong.
  • Well-positioned to continue to execute on strategic priorities.

Headwinds

  • Transitory costs continue to drive heightened volatility.
  • Inflationary pressures continue to drive heightened volatility.
  • Freight inflation costs will be a headwind.
  • Material inflation costs will be a headwind.
  • Industry-wide logistical pressures on the global supply chain network impacted fulfillment levels.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

-0.9%

Avg return

Earnings day

+0.1%

Avg return

5 days after

+1.0%

Avg return

30 days after

42%

27 / 65 earnings

Positive

+16.4%

Q4 2023

Best reaction

-16.6%

Q4 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.8%+10.0%+10.5%
Q4 2025+2.0%+1.5%-8.7%
Q3 2025-9.8%-12.8%-12.6%
Q1 2025+6.6%+8.5%+10.5%
Q4 2024+3.2%+5.0%-2.7%
Q3 2024+10.4%+19.0%+20.9%
Q2 2024+1.5%+5.4%+11.9%
Q1 2024-1.8%-0.5%-2.5%
Q4 2023+16.4%+12.7%+17.8%
Q3 2023-10.1%-6.3%-1.0%
Q2 2023+4.7%+5.5%-2.6%
Q1 2023-0.7%+2.0%-4.5%
Q4 2022-2.8%-3.1%-9.6%
Q3 2022-14.8%-5.3%+4.0%
Q2 2022-12.3%-13.4%-16.5%
Q1 2022-1.8%+5.1%+4.4%
Q4 2021-3.1%-0.3%-0.1%
Q3 2021-1.7%+2.0%+18.8%
Q2 2021-3.3%-3.6%-7.2%
Q1 2021-12.0%-10.9%-9.0%
Q4 2020+9.6%+7.1%+9.0%
Q3 2020-0.2%-0.7%+5.7%
Q2 2020+8.8%+7.6%+11.7%
Q1 2020+15.5%+6.7%+20.5%
Q4 2019-16.6%-20.9%-32.2%
Q3 2019-13.0%-11.1%-10.6%
Q2 2019-13.3%-16.6%-14.1%
Q1 2019-6.3%-6.7%-13.0%
Q4 2018-8.0%-7.7%-4.6%
Q3 2018+10.6%+11.5%+24.4%
Q2 2018-2.1%-0.5%+10.2%
Q1 2018+0.6%+1.5%+0.4%
Q4 2017-3.2%-4.9%-10.9%
Q3 2017-4.4%-2.9%-3.7%
Q2 2017-4.9%-3.6%-14.9%
Q1 2017-0.7%+0.3%+1.4%
Q4 2016+7.1%+8.8%+9.7%
Q3 2016+3.2%+2.2%+17.2%
Q2 2016+8.9%+12.6%+11.3%
Q1 2016+0.9%
Q4 2015+11.5%
Q3 2015-9.2%
Q2 2015+6.8%
Q1 2015-7.4%
Q4 2014-5.4%
Q3 2014-0.1%
Q2 2014-10.2%
Q1 2014+2.3%
Q4 2013-1.0%
Q3 2013-0.3%
Q2 2013+0.4%
Q1 2013+8.5%
Q4 2011+1.9%
Q4 2012-7.2%
Q3 2012+1.3%
Q2 2012+11.6%
Q1 2011+0.1%
Q1 2012+2.4%
Q4 2009-3.0%
Q3 2010-3.4%
Q3 2011-3.4%
Q2 2010-5.3%
Q2 2011-5.3%
Q4 2010-5.3%
Q1 2010+0.5%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro