Dorman Products, Inc. Reports First Quarter 2025 Results

Core Insights - Dorman Products, Inc. reported strong financial performance in Q1 2025, with net sales increasing by 8.3% to $507.7 million, driven by robust demand in the Light Duty segment [3][5][9] - The company achieved a significant increase in diluted EPS, rising 78% to $1.87, and adjusted diluted EPS increased by 54% to $2.02, reflecting operational excellence and growth strategies [3][7][9] - Dorman is well-prepared to navigate economic challenges, including the impact of recently enacted tariffs, due to a diversified supply chain and strong supplier relationships [4][9] Financial Performance - Q1 2025 net sales were $507.7 million, up from $468.7 million in Q1 2024, marking an 8.3% increase [5][9] - Gross profit for Q1 2025 was $207.7 million, representing 40.9% of net sales, compared to $181.4 million or 38.7% in the same quarter last year [5][6] - SG&A expenses were $127.6 million, or 25.1% of net sales, down from 27.1% in Q1 2024, indicating improved operational efficiency [6][9] Segment Performance - Light Duty segment net sales increased by 14% to $408.8 million, with a profit margin improvement of 380 basis points to 19.9% [7] - Heavy Duty segment net sales decreased by 11% to $51.7 million, with a slight negative profit margin of -0.3% [7] - Specialty Vehicle segment net sales fell by 9% to $47.2 million, with a profit margin decrease of 370 basis points to 10.2% [7] 2025 Guidance - The company reaffirms its full-year 2025 guidance, projecting net sales growth of 3% to 5% and diluted EPS between $7.00 and $7.30 [8][10] - Adjusted diluted EPS is expected to be in the range of $7.55 to $7.85, reflecting a growth of 6% to 10% compared to 2024 [10][33]