Dorman Products, Inc. · NASDAQ:DORM
Dorman Products — Q3 2024 Earnings Presentation
18 slides from Dorman Products's earnings presentation, Nov 1, 2024
Slide 1: Q3 2024 Earnings Presentation
Q3 2024 EARNINGS PRESENTATION NOVEMBER 1, 2024
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
Forward-Looking Statements Non-GAAP Financial Measures
Slide 3: Q3 2024 Highlights
Q3 2024 Highlights 1 Net Sales of $503.8 million, up 3.2% over Q3 2023 2 Adjusted Operating Margin! of 17.1%, 290 bps improvement over Q3 2023 3 Adjusted Diluted EPS! of $1.96, a 40% increase over Q3 2023 4 Generated $36 million in Free Cash Flow!; repaid $11 million of debt; repurchased $27 million
Slide 4: Light Duty, Heavy Duty, Specialty Vehicle
Light Duty Heavy Duty Specialty Vehicle • • • • • • • • • • •
Slide 5: Electrification Trends and Outlook Forecast
• • • • • • *Source: Latest data, Joint Electrification Trends and Outlook Forecast; Strategy&, MEMA Aftermarket Suppliers
Slide 6: Complex Electronics Capabilities Drive Long-term Differentiation
Tour Complex Electronics Capabilities Drive Long-term Differentiation Failure Identification & Assessment * Robust network of technical intel Testing & Datalogging * Specialized process and infrastructure 1010 Proprietary Code Development l 0 l 8] + Technical data analysis competency ELECTRONIC CENT
Slide 7: Net Sales, Adj. Operating Income, Adj. Diluted EPS
Net Sales1 Adj. Operating Income1 Adj. Diluted EPS1 100 30 80 25 20 60 15 40 15.6% 10 20 11.3% 5 0 0 • • • • • • • • •
Slide 8: Net Sales & Segment Profit %
Net Sales1 & Segment Profit % • 400 30 390 • 380 25 370 360 20 350 • 340 15 330 320 310 10 300 290 5 280 270 0
Slide 9: Net Sales & Segment Profit %
Net Sales1 & Segment Profit % • 65 18 60 16 55 14 50 12 45 10 40 35 8 • 6 30 4 25 20 2 15 0 -2 • 10 5 -4 0 -6
Slide 10: Net Sales & Segment Profit %
Net Sales1 & Segment Profit % • 35 • 30 25 • 20 15 10 • 5 0
Slide 11: Free Cash Flow
Free Cash Flow Free Cash Flow? ; * Cash from Operations lower as inventory increased compared to Q3 2023 $47 * Repaid $11 million of debt during the quarter $36 » Repurchased $27 million of common stock, or approximately 274,000 shares $56 » New share repurchase authorization of up to $44 $500 milli
Slide 12: Strong Balance Sheet and Liquidity Position
Strong Balance Sheet and Liquidity Position Net Leverage Liquidity
Slide 13: Updated 2024 Guidance
Updated 2024 Guidance Updated 2024 Prior 2024 Guidance Guidance (as of November 1, 2024) Net Sales change vs. previous year 3.5% - 4.5% 3% - 5% Diluted EPS $6.15 - $6.25 $5.32 - $5.52 Change vs. previous year 50% - 52% 30% - 35% Adjusted Diluted EPS! $6.85 - $6.95 $6.00 - $6.20 Change vs. previous y
Slide 14: Appendix – Non-GAAP Reconciliations
Appendix – Non-GAAP Reconciliations
Slide 15: Reconciliation of Adjusted SG&A
Reconciliation of Adjusted SG&A
Slide 16: Reconciliation of Adjusted Operating Income
Reconciliation of Adjusted Operating Income
Slide 17: Reconciliation of Adjusted Diluted EPS
Reconciliation of Adjusted Diluted EPS
Slide 18: Reconciliation of Adjusted Diluted EPS - Guidance
Reconciliation of Adjusted Diluted EPS - Guidance