Barrington Research Raises Q3 2023 Earnings Estimates for Dorman Products, Inc
August 11, 2023
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Dorman Products ($NASDAQ:DORM), Inc., is a leading supplier of automotive replacement parts, automotive hardware, brake parts, and fasteners to the automotive aftermarket. The recent Barrington Research report has increased their Q3 2023 earnings per share estimates for Dorman Products, Inc. This increase follows a positive outlook for the industry in general, with Barrington predicting that various automotive sectors will continue to expand in the coming months. The new estimate reflects strong sale projections for the company and their ability to capitalize on the growing demand for their products.
Their experienced team of experts has enabled them to develop innovative solutions for their customers while continuing to provide competitive prices and quality service. With their financials well-positioned for continued growth, Dorman Products, Inc. looks poised to capitalize on the industry’s positive outlook.
Earnings
Barrington Research recently raised its earnings estimates for DORMAN PRODUCTS, Inc for the third quarter of 2023 in its earning report. As of June 30 2021, the company reported total revenue of 310.64M USD and a net income of 31.62M USD, corresponding to a decrease of 25.6% and 16.6% respectively compared to the same quarter of the previous year. However, it is worth noting that total revenue for DORMAN PRODUCTS has increased significantly in the past 3 years, from 310.64M USD to 480.57M USD. Despite the short-term decrease in revenues and net income, this is an encouraging sign for DORMAN PRODUCTS and its shareholders going forward.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dorman Products. More…
| Total Revenues | Net Income | Net Margin |
| 1.86k | 86.89 | 4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dorman Products. More…
| Operations | Investing | Financing |
| 97.19 | -534.54 | 421.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dorman Products. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.26k | 1.17k | 34.49 |
Key Ratios Snapshot
Some of the financial key ratios for Dorman Products are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.7% | 17.4% | 8.0% |
| FCF Margin | ROE | ROA |
| 2.8% | 8.8% | 4.1% |
Market Price
On Monday, DORMAN PRODUCTS, Inc. saw its stock prices rise by 0.7% from the previous closing price of $89.4 to reach $90.0. This development comes on the back of Barrington Research raising its earnings estimates for the company’s third quarter of 2023. The increase in stock price demonstrated the markets confidence in the company’s future prospects. As such, DORMAN PRODUCTS, Inc. is on track to post strong performance in the months ahead. Live Quote…
Analysis
At GoodWhale, we recently conducted an analysis of DORMAN PRODUCTS‘s financials. Our findings revealed that, based on our proprietary Risk Rating system, DORMAN PRODUCTS is a high risk investment from both a financial and business standpoint. We uncovered three risk warnings in the company’s balance sheet, cashflow statement, and financial journal which could warrant further investigation. To access the full report, become a registered user on our website. More…
Peers
The company competes with Hwaseung R&A Co Ltd, Shanghai Baolong Automotive Corp, Inter Cars SA. Dorman Products Inc offers a wide range of products including engine parts, suspension parts, electrical parts, and more. The company has a strong focus on quality and customer service.
– Hwaseung R&A Co Ltd ($KOSE:378850)
Hwaseung R&A Co Ltd is a South Korean conglomerate. It is the holding company of the Hwaseung Group, which consists of businesses in the auto parts, chemicals, and electronics industries. The company has a market cap of 71.31B as of 2022, and a return on equity of 8.21%. Hwaseung R&A Co Ltd is a publicly traded company on the Korea Exchange (KRX).
– Shanghai Baolong Automotive Corp ($SHSE:603197)
Shanghai Baolong Automotive Corp is a publicly traded company with a market capitalization of $9.01 billion as of 2022. The company has a return on equity of 10.38%. Shanghai Baolong Automotive Corp is engaged in the manufacture and sale of automotive parts and components. The company’s products include engine parts, transmission parts, suspension parts, and electrical parts. Shanghai Baolong Automotive Corp has a strong presence in the Chinese automotive market and is expanding its operations into other markets, such as the United States.
– Inter Cars SA ($LTS:0LUR)
Inter Cars SA is a Polish automotive parts and accessories retailer and distributor. The company operates through three segments: Retail, Wholesale, and E-commerce. It offers a range of products, including car parts, tools, equipment, and chemicals. As of 2022, Inter Cars SA had a market cap of 5.24 billion Polish zlotys and a return on equity of 18.9%.
Summary
Investment analysts at Barrington Research have raised their estimates for Dorman Products, Inc.’s third quarter 2023 earnings per share. This projection indicates that the company’s current financial outlook is favorable. Analysts are expecting a notable increase in earnings for the period, and the stock is likely to see a corresponding increase in value due to the positive outlook.
Investors should consider researching the company and its current performance in order to make an informed decision about investing in Dorman Products, Inc. in the near future. With the potential for increased value, investors may be willing to take a chance on the stock as they weigh the risks and rewards.
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