From GlobeNewswire: 2024-05-10 07:01:00

Dorel Industries reported a 5.4% increase in revenue to $351.1 million for the first quarter of 2024. The net loss was $17.6 million, an improvement from $31.5 million last year. The Dorel Juvenile division saw significant gains, with a $10.1 million increase in adjusted operating profit compared to last year.

The Dorel Home division also made progress, reducing its adjusted operating loss by $10.5 million in the first quarter. Strategies to simplify and combine key components have led to more efficiency and profitability. The division saw a 3.9% increase in revenue to $138.4 million, with strong sales of hand trucks, step stools, and folding furniture.

Dorel Juvenile’s revenue in the first quarter was $212.7 million, up 6.3% from last year. The division saw growth in the American and European markets, with products like Safety 1st performing well. The operating profit was $0.5 million, an improvement from an $8.9 million loss last year, with significant improvements in operational efficiency.

Dorel Industries is optimistic about the continued growth of its Juvenile and Home divisions. Despite challenges in the furniture market, the company has seen improvements in revenue and profitability. With a focus on new products and cost reduction, Dorel expects to see continued progress in the coming quarters.



Read more at GlobeNewswire:: Dorel publie ses résultats du premier trimestre 2024