Dorman(US:DORM)2025-10-27 20:04Financial Performance - Dorman reported third quarter 2025 net sales of $543.7 million, a 7.9% increase from $503.8 million in the same quarter of 2024[4] - Gross profit for the third quarter was $241.4 million, representing 44.4% of net sales, compared to $203.8 million or 40.5% of net sales in the prior year[5] - Net income for the third quarter was $76.4 million, up from $55.3 million in the same quarter last year, representing a net income margin of 14.1%[20] - Adjusted net income for the three months ended September 27, 2025, was $80,757 thousand, up 34.1% from $60,244 thousand for the same period in 2024[26] - Net sales for the nine months ended September 27, 2025, were $1,592,387 thousand, an increase from $1,475,425 thousand for the same period in 2024[28] - The company reported a gross profit (GAAP) of $668,648 thousand for the nine months ended September 27, 2025, with a margin of 42.0%, compared to $584,650 thousand and 39.6% for the same period in 2024[28] Earnings Per Share - Diluted EPS increased by 38% to $2.48, up from $1.80 in the same quarter last year; adjusted diluted EPS rose 34% to $2.62 from $1.96[7] - Diluted earnings per share (GAAP) increased to $2.48 for the three months ended September 27, 2025, compared to $1.80 for the same period in 2024, representing a 37.6% increase[26] - Adjusted diluted earnings per share (Non-GAAP) for the three months ended September 27, 2025, was $2.62, compared to $1.96 for the same period in 2024, reflecting a 33.7% increase[26] - The company reaffirmed its full year 2025 guidance for adjusted diluted earnings per share to be between $8.60 and $8.90[37] - The company reaffirmed its full-year 2025 guidance, projecting net sales growth of 7% to 9% and diluted EPS between $8.05 and $8.35, reflecting a growth of 31% to 36% compared to 2024[11] Expenses and Costs - SG&A expenses were $135.7 million, or 25.0% of net sales, compared to $124.5 million, or 24.7% of net sales in the same quarter last year[6] - SG&A expenses (GAAP) for the three months ended September 27, 2025, were $135,677 thousand, representing 25.0% of net sales, compared to $124,532 thousand and 24.7% for the same period in 2024[29] - The company incurred $5,442 thousand in pretax acquisition-related intangible asset amortization for the three months ended September 27, 2025[31] Cash Flow and Capital Expenditures - Cash provided by operating activities for the third quarter was $12.2 million, down from $44.3 million in the same quarter of 2024[23] - Capital expenditures for the third quarter were $10.4 million, compared to $8.6 million in the same quarter of 2024[23] Segment Performance - The light duty segment saw net sales of $430.3 million, a 9% increase, with a profit margin improvement of 470 basis points to 23.7%[8] Assets - The company’s total assets increased to $2.55 billion as of September 27, 2025, compared to $2.42 billion at the end of 2024[22] Share Information - The weighted average diluted shares outstanding for the three months ended September 27, 2025, was 30,782 thousand, slightly up from 30,739 thousand for the same period in 2024[26]