115.47
price down icon7.84%   -9.275
 
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Why is Dorman Products Inc (DORM) Stock down?

We've noticed a 7.65% decline in Dorman Products Inc (DORM) stock during the 2025-04-03 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
31 Oct, 2023:

Shares of Dorman Products (DORM) dropped by 14.54% from $72.76 to $62.18 in the trading on Tuesday, October 31, 2023. The reason why DORM down is due to company's announcement of weaker-than-expected quarterly earnings and a downward revision of its full-year outlook.

  • Quarterly performance: In the third quarter, Dorman's revenue grew by 18% YoY to $488.2 million, and adjusted non-GAAP earnings per share increased by 20% to $1.40. However, analysts had expected $1.59 per share in adjusted earnings on similar revenue.
  • Revised Outlook: In response to the softer demand and economic uncertainty, Dorman revised its full-year 2023 outlook. They now expect 11% to 12.2% net sales growth, with a range of $1.925 billion to $1.945 billion. Previous guidance had anticipated $1.95 billion to $2 billion in net sales. Additionally, full-year earnings guidance was adjusted to $4.35 per share to $4.55 per share, down from the previous range of $5.15 to $5.35 per share.
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