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With the Zacks Automotive- Replacement Parts industry currently placed in the top 26% of around 250 Zacks industries, stocks like DORM and SMP are worth considering.
Dorman Products (DORM) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Dorman Products has seen significant revenue and profitability growth, with net income more than doubling year over year. The company has increased its earnings guidance for the year, projecting adjusted earnings per share between $6 and $6.20. Despite uncertainty about future performance, Dorman Products remains a favorable investment option with a history of creating shareholder value.
SPOT, TILE, THC, DORM and MATX are five stocks with explosive relative price strength.
Does Dorman Products (DORM) have what it takes to be a top stock pick for momentum investors? Let's find out.
DORM's 2Q24 net sales increased by 4.7% year-over-year, with strong performance in the light duty segment. This segment's net sales increased 9%, driven by strong volume and new product introductions. For context, its light duty segment forms the largest share of its 2Q24 sales, accounting for 77%, while heavy duty and specialty vehicle account for 12% and 11%, respectively. Additionally, its adjusted margins expanded year-over-year due to cost-saving initiatives and easing inflationary pressures.
Dorman Products (DORM) could produce exceptional returns because of its solid growth attributes.
Dorman Products, Inc. (NASDAQ:DORM ) Q2 2024 Earnings Conference Call August 2, 2024 8:00 AM ET Company Participants Alex Whitelam - VP, IR and Risk Management David Hession - CFO Kevin Olsen - CEO Conference Call Participants Scott Stember - ROTH MKM Bret Jordan - Jefferies Operator Good morning, and thank you for standing by. Welcome to the Dorman Products Second Quarter 2024 Earnings Conference Call.
Dorman Products (DORM) came out with quarterly earnings of $1.67 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.01 per share a year ago.
Highlights (All comparisons are to the prior year period unless otherwise noted) :