COLUMBUS, Ind. — Dorel Industries, which has a Dorel Juvenile USA location in Columbus, reported its third-quarter results this week.
Third-quarter revenue was $359.7 million, down 3.9% from $374.1 million last year. Reported and adjusted net loss from continuing operations was $10.4 million or $0.32 per diluted share, compared to $36.7 million or $1.13 per diluted share in 2022.
Dorel President/CEO Martin Schwartz said, “We are pleased with the progress of our Dorel Juvenile segment as they delivered double-digit revenue growth and an impressive turnaround in earnings. We are clearly seeing our products winning and delivering market share gains in an industry that was down versus the prior year.”
He continued, “Dorel Home revenues continued to grow, improving sequentially with positive indicators at brick-and-mortar. Given the challenges for consumer products companies overall, our two segments are navigating positively, though we need further improvement. The vast majority of all the high-cost inventory from last year has been sold, contributing to improving margins throughout 2023.”
