Dorman Products (NASDAQ:DORM) Releases FY 2024 Earnings Guidance

Dorman Products (NASDAQ:DORM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.000-6.200 for the period, compared to the consensus estimate of 5.640. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Dorman Products also updated its FY24 guidance to $6.00-6.20 EPS.

Dorman Products Price Performance

Shares of NASDAQ DORM traded up $4.26 during midday trading on Friday, hitting $102.84. 217,052 shares of the company’s stock were exchanged, compared to its average volume of 137,695. Dorman Products has a 12-month low of $60.01 and a 12-month high of $104.96. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 20.69 and a beta of 0.82. The business’s fifty day moving average price is $93.82 and its two-hundred day moving average price is $90.85.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.19 by $0.48. The company had revenue of $502.95 million during the quarter, compared to analyst estimates of $497.46 million. Dorman Products had a return on equity of 16.12% and a net margin of 8.75%. Dorman Products’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, research analysts forecast that Dorman Products will post 5.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a buy rating and issued a $116.00 price objective on shares of Dorman Products in a research report on Friday, June 14th.

Insider Buying and Selling at Dorman Products

In other news, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $92.06, for a total transaction of $46,030.00. Following the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at $1,852,799.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total transaction of $138,572.00. Following the transaction, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at $2,481,527.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $92.06, for a total value of $46,030.00. Following the transaction, the senior vice president now directly owns 20,126 shares in the company, valued at $1,852,799.56. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.