
Courtesy-Dorel Juvenile Group
MONTREAL — Dorel Industries, which has a Dorel Juvenile USA location in Columbus, released its earnings for the third quarter of 2022 on Friday.
Third-quarter revenue was $374.1 million, down 14% from $437.2 million last year. The net loss from continuing operations was $36.7 million or $1.13 per diluted share, compared to $68 million or $2.09 per diluted share in 2021. Adjusted net loss from continuing operations was $34.7 million or $1.07 per diluted share, compared to $66.8 million or $2.06 per diluted share a year ago.
The key takeaways from the Q3 report included:
- Lower sales in North America as major brick-and-mortar customers reduce inventories
- Strength of U.S. dollar results in $14 million negative foreign exchange impact at Dorel Juvenile
- Dorel Home sells Ontario building for CDN $46.1 million and enters into a multi-year lease