Dorman Products, Inc. Reports First Quarter 2026 Results and Reaffirms 2026 Guidance
Rhea-AI Summary
Dorman Products (NASDAQ: DORM) reported Q1 2026 net sales of $528.8M, a 4.2% increase versus Q1 2025, and diluted EPS of $1.43, down 24%. Adjusted diluted EPS was $1.57, down 22%. Gross margin fell to 36.0%. The company generated $43.8M of operating cash and repurchased $51M of stock at an average $118 per share. Dorman reaffirmed full-year 2026 guidance: net sales +7%–9%, diluted EPS $7.57–$7.97, adjusted diluted EPS $8.10–$8.50, and an estimated tax rate of 23.5%.
Positive
- Net sales increased 4.2% to $528.8M
- Operating cash generated was $43.8M in Q1
- Share repurchases totaled $51M at ~$118/share
- Heavy Duty sales rose 12% with margin +110 bps
Negative
- Diluted EPS down 24% to $1.43
- Gross margin declined to 36.0% (‑490 bps YoY)
- Adjusted diluted EPS down 22% to $1.57
- Guidance shows adjusted EPS expected (9)%–(4)% vs 2025
News Market Reaction – DORM
In the May 5 session, DORM gained 7.82%, reflecting a notable positive market reaction. Argus tracked a peak move of +14.1% during that session. Our momentum scanner triggered 27 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 25 | Q4/FY 2025 earnings | Neutral | +1.8% | Modest Q4 growth with goodwill impairment but stronger full-year EPS and guidance. |
| Oct 27 | Q3 2025 earnings | Positive | -9.8% | Strong sales and EPS growth with gross margin expansion and reaffirmed 2025 guidance. |
| Aug 04 | Q2 2025 earnings | Positive | +6.9% | Exceptional sales and EPS growth, margin gains, and raised full-year 2025 guidance. |
| May 05 | Q1 2025 earnings | Positive | +7.0% | Strong Q1 growth, higher EPS, solid cash flow, and reaffirmed 2025 guidance. |
| Feb 26 | Q4/FY 2024 earnings | Positive | +3.2% | Robust Q4 and full-year results with higher EPS, cash flow, and raised 2025 outlook. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent earnings releases often featured solid sales growth and guidance reaffirmations or raises, with generally positive next-day reactions except for one notable selloff despite strong Q3 2025 results.
Across the last five earnings releases since Feb 2025, Dorman has consistently reported year‑over‑year net sales growth, frequently coupled with higher diluted and adjusted EPS and reaffirmed or raised guidance. Q2 and Q1 2025 highlighted especially strong performance and positive market reactions. Q4 2025 included a large non‑cash goodwill impairment but still delivered higher full‑year EPS and guidance for 2026. Today’s Q1 2026 report extends that pattern of revenue growth while acknowledging margin and EPS pressure.
Key Terms
non-gaap financial
ieepa regulatory
forward-looking statements regulatory
form 10-k regulatory
form 10-q regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights (All comparisons are to the prior year period unless otherwise noted):
- Net sales of
$528.8 million for the quarter, up4.2% - Diluted earnings per share (“EPS”) of
$1.43 , down24% - Adjusted diluted EPS* of
$1.57 , down22% - Generated
$43.8 million of cash from operating activities; repurchased$51 million of its shares
COLMAR, Pa., May 04, 2026 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (the “Company” or “Dorman”) (NASDAQ: DORM), a leading supplier in the motor vehicle aftermarket industry, today announced its financial results for the first quarter ended March 28, 2026.
Kevin Olsen, Dorman’s Chairman, President, and Chief Executive Officer, stated, “We started the year with solid financial performance that was in line with our expectations. Despite ongoing uncertainty in the broader economy and geopolitical environment, we delivered first quarter net sales growth of
“Based on our first-quarter performance and our positive outlook across all three of our segments, we are reaffirming our net sales and earnings guidance for 2026.
“As we continue to navigate through recent market dynamics, we remain confident in our strategy and position as the innovation leader in the aftermarket, and we will continue to manage and execute on the factors within our control to support long-term growth.”
First Quarter Financial Results
The Company reported first quarter 2026 net sales of
Gross profit was
Selling, general, and administrative (“SG&A”) expenses were
Diluted EPS was
Segment results were as follows:
| Net Sales | Segment Profit Margin | |||||||||||||||
| ($ in millions) | Q1 2026 | Q1 2025 | Change | Q1 2026 | Q1 2025 | Change | ||||||||||
| Light Duty | $ | 423.8 | $ | 408.8 | 4 | % | 14.1 | % | 19.9 | % | -580 bps | |||||
| Heavy Duty | $ | 57.8 | $ | 51.7 | 12 | % | 0.8 | % | -0.3 | % | 110 bps | |||||
| Specialty Vehicle | $ | 47.2 | $ | 47.2 | 0 | % | 8.7 | % | 10.2 | % | -150 bps | |||||
2026 Guidance
The Company reaffirms its full-year 2026 guidance as detailed in the table below. The Company's guidance includes the expected impact of tariffs enacted as of May 4, 2026. The Company’s guidance excludes impacts from potential IEEPA tariff refunds, potential tariff changes after May 4, 2026, future acquisitions and divestitures, and additional share repurchases.
| 2026 Guidance | |
| Net Sales Change vs. 2025 | |
| Diluted EPS | |
| Change vs. 2025 | |
| Adjusted Diluted EPS* | |
| Change vs. 2025 | (9)% – (4)% |
| Tax Rate Estimate | |
Conference Call and Webcast
The Company will hold a conference call and webcast for investors on Tuesday, May 5, 2026, beginning at 8:00 a.m. Eastern time. The conference call can be accessed by telephone at (888) 440-4182 within the U.S. or +1 (646) 960-0653 outside the U.S. When prompted, enter the conference ID number 1698878. A live audio webcast and accompanying presentation materials can be accessed on the Company’s website at Dorman Products, Inc. - Events. After the call, a replay of the session will be available on the Investor section of the Company’s website.
About Dorman Products
Dorman gives professionals, enthusiasts, and owners greater freedom to fix motor vehicles. For over 100 years, we have been driving new solutions, releasing tens of thousands of aftermarket replacement products engineered to save time and money and increase convenience and reliability.
Founded and headquartered in the United States, we are a pioneering global organization offering an always-evolving catalog of products covering cars, trucks, and specialty vehicles, from chassis to body, from underhood to undercarriage, and from hardware to complex electronics.
*Non-GAAP Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains Non-GAAP financial measures. The reasons why we believe these measures provide useful information to investors and a reconciliation of these measures to the most directly comparable GAAP measures and other information relating to these Non-GAAP measures are included in the supplemental schedules attached.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “probably,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “views,” “estimates,” and similar expressions are used to identify these forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date such statements were made. Such forward-looking statements are based on current expectations that involve known and unknown risks, uncertainties, and other factors (many of which are outside of our control). Such risks, uncertainties and other factors relate to, among other things: competition in and the evolution of the motor vehicle aftermarket industry; changes in our relationships with, or the loss of, any customers or suppliers; our ability to develop, market and sell new and existing products; our ability to anticipate and meet customer demand; our ability to purchase necessary materials from our suppliers and the impacts of any related logistics constraints; widespread public health pandemics; political and regulatory matters, such as changes in trade policy, the imposition of tariffs and climate regulation; our ability to protect our information security systems and defend against cyberattacks; our ability to protect our intellectual property and defend against any claims of infringement; and financial and economic factors, such as our level of indebtedness, fluctuations in interest rates and inflation. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the Securities and Exchange Commission (“SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company is under no obligation to, and expressly disclaims any such obligation to, update any of the information in this document, including but not limited to any situation where any forward-looking statement later turns out to be inaccurate, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
Investor Relations Contact
Alex Whitelam, VP, Investor Relations
awhitelam@dormanproducts.com
(445) 448-9522
Visit our website at dormanproducts.com. The Investor Relations section of the website contains important Company information, including financial data and investor materials. Dorman encourages investors to visit its website periodically to view new and updated information.
| DORMAN PRODUCTS, INC. Consolidated Statements of Operations (in thousands, except per-share amounts) | |||||||||||||
| Three Months Ended | Three Months Ended | ||||||||||||
| (unaudited) | 3/28/26 | Pct.* | 3/29/25 | Pct. * | |||||||||
| Net sales | $ | 528,770 | 100.0 | $ | 507,692 | 100.0 | |||||||
| Cost of goods sold | 338,615 | 64.0 | 299,984 | 59.1 | |||||||||
| Gross profit | 190,155 | 36.0 | 207,708 | 40.9 | |||||||||
| Selling, general, and administrative expenses | 131,372 | 24.8 | 127,634 | 25.1 | |||||||||
| Income from operations | 58,783 | 11.1 | 80,074 | 15.8 | |||||||||
| Interest expense, net | 5,807 | 1.1 | 7,358 | 1.4 | |||||||||
| Other income, net | (3,246 | ) | (0.6 | ) | (1,361 | ) | (0.3 | ) | |||||
| Income before income taxes | 56,222 | 10.6 | 74,077 | 14.6 | |||||||||
| Provision for income taxes | 12,671 | 2.4 | 16,572 | 3.3 | |||||||||
| Net income | $ | 43,551 | 8.2 | $ | 57,505 | 11.3 | |||||||
| Diluted earnings per share | $ | 1.43 | $ | 1.87 | |||||||||
| Weighted average diluted shares outstanding | 30,423 | 30,810 | |||||||||||
* Percentage of sales. Data may not add due to rounding.
| DORMAN PRODUCTS, INC. Consolidated Balance Sheets (in thousands, except share data) | |||||||
| (unaudited) | 3/28/26 | 12/31/25 | |||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 43,056 | $ | 49,436 | |||
| Accounts receivable, less allowance for doubtful accounts of | 503,026 | 479,252 | |||||
| Inventories | 902,422 | 959,019 | |||||
| Prepaids and other current assets | 26,896 | 33,819 | |||||
| Total current assets | 1,475,400 | 1,521,526 | |||||
| Property, plant, and equipment, net | 166,621 | 168,777 | |||||
| Operating lease right-of-use assets | 110,155 | 112,805 | |||||
| Goodwill | 387,334 | 387,334 | |||||
| Intangible assets, net | 251,785 | 257,079 | |||||
| Other assets | 43,836 | 45,557 | |||||
| Total assets | $ | 2,435,131 | $ | 2,493,078 | |||
| Liabilities and shareholders’ equity | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 133,549 | $ | 185,125 | |||
| Accrued compensation | 17,577 | 30,756 | |||||
| Accrued customer rebates and returns | 184,966 | 197,398 | |||||
| Revolving credit facility | 15,000 | — | |||||
| Current portion of long-term debt | 37,500 | 37,500 | |||||
| Other accrued liabilities | 59,533 | 42,048 | |||||
| Total current liabilities | 448,125 | 492,827 | |||||
| Long-term debt | 402,512 | 402,413 | |||||
| Long-term operating lease liabilities | 93,226 | 96,568 | |||||
| Deferred tax liabilities | 3,868 | 3,977 | |||||
| Other long-term liabilities | 20,697 | 20,218 | |||||
| Commitments and contingencies | |||||||
| Shareholders’ equity: | |||||||
| Common stock, | 300 | 304 | |||||
| Additional paid-in capital | 134,230 | 137,109 | |||||
| Retained earnings | 1,337,092 | 1,344,183 | |||||
| Accumulated other comprehensive loss | (4,919 | ) | (4,521 | ) | |||
| Total shareholders’ equity | 1,466,703 | 1,477,075 | |||||
| Total liabilities and shareholders' equity | $ | 2,435,131 | $ | 2,493,078 | |||
Selected Cash Flow Information (unaudited):
| Three Months Ended | |||||
| (in thousands) | 3/28/26 | 3/29/25 | |||
| Cash provided by operating activities | $ | 43,759 | $ | 51,237 | |
| Depreciation and amortization | $ | 13,998 | $ | 13,843 | |
| Capital expenditures | $ | 8,449 | $ | 10,985 | |
DORMAN PRODUCTS, INC.
Non-GAAP Financial Measures
(in thousands, except per-share amounts)
Our financial results include certain financial measures not derived in accordance with generally accepted accounting principles (GAAP). Non-GAAP financial measures should not be used as a substitute for GAAP measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows. Additionally, these non-GAAP measures may not be comparable to similarly titled measures reported by other companies. However, we have presented these non-GAAP financial measures because we believe this presentation, when reconciled to the corresponding GAAP measure, provides useful information to investors by offering additional ways of viewing our results, profitability trends, and underlying growth relative to prior and future periods and to our peers. Management uses these non-GAAP financial measures in making financial, operating, and planning decisions and in evaluating our performance. Non-GAAP financial measures may reflect adjustments for charges such as fair value adjustments, amortization, transaction costs, severance, accelerated depreciation, and other similar expenses related to acquisitions as well as other items that we believe are not related to our ongoing performance.
Adjusted Net Income:
| Three Months Ended | |||||||
| (unaudited) | 3/28/26* | 3/29/25* | |||||
| Net income (GAAP) | $ | 43,551 | $ | 57,505 | |||
| Pretax acquisition-related intangible assets amortization [1] | 5,174 | 5,471 | |||||
| Pretax acquisition-related transaction and other costs [2] | 242 | 492 | |||||
| Pretax reduction in workforce costs [3] | — | 114 | |||||
| Tax adjustment (related to above items) [4] | (1,284 | ) | (1,474 | ) | |||
| Adjusted net income (Non-GAAP) | $ | 47,683 | $ | 62,108 | |||
| Diluted earnings per share (GAAP) | $ | 1.43 | $ | 1.87 | |||
| Pretax acquisition-related intangible assets amortization [1] | 0.17 | 0.18 | |||||
| Pretax acquisition-related transaction and other costs [2] | 0.01 | 0.02 | |||||
| Pretax reduction in workforce costs [3] | — | 0.00 | |||||
| Tax adjustment (related to above items) [4] | (0.04 | ) | (0.05 | ) | |||
| Adjusted diluted earnings per share (Non-GAAP) | $ | 1.57 | $ | 2.02 | |||
| Weighted average diluted shares outstanding | 30,423 | 30,810 | |||||
* Amounts may not add due to rounding.
See accompanying notes at the end of this supplemental schedule.
Adjusted SG&A Expenses:
| Three Months Ended | Three Months Ended | ||||||||||||
| (unaudited) | 3/28/26 | Pct.** | 3/29/25 | Pct.** | |||||||||
| SG&A expenses (GAAP) | $ | 131,372 | 24.8 | $ | 127,634 | 25.1 | |||||||
| Pretax acquisition-related intangible assets amortization [1] | (5,174 | ) | (1.0 | ) | (5,471 | ) | (1.1 | ) | |||||
| Pretax acquisition-related transaction and other costs [2] | (242 | ) | (0.0 | ) | (492 | ) | (0.1 | ) | |||||
| Pretax reduction in workforce costs [3] | — | — | (114 | ) | (0.0 | ) | |||||||
| Adjusted SG&A expenses (Non-GAAP) | $ | 125,956 | 23.8 | $ | 121,557 | 23.9 | |||||||
| Net sales | $ | 528,770 | $ | 507,692 | |||||||||
* *Percentage of sales. Data may not add due to rounding.
[1] – Pretax acquisition-related intangible asset amortization results from allocating the purchase price of an acquisition to the acquired tangible and intangible assets of the acquired business and recognizing the cost of the intangible asset over the period of benefit. Such costs were
[2] – Pretax acquisition-related transaction and other costs include costs incurred to complete and integrate acquisitions. During the three months ended March 28, 2026, and March 29, 2025, we incurred charges included in selling, general, and administrative expenses to complete and integrate acquisitions of
[3] – Pretax reduction in workforce costs represents costs incurred in connection with our planned workforce reduction, including insurance continuation costs. During the three months ended March 29, 2025, the expenses were
[4] – Tax adjustments represent the aggregate tax effect of all non-GAAP adjustments reflected in the table above and totaled
2026 Guidance:
The Company reaffirms the following guidance ranges related to its full year 2026 outlook:
| Year Ending 12/31/2026 | |||||||
| (unaudited) | Low End | High End | |||||
| Diluted earnings per share (GAAP) | $ | 7.57 | $ | 7.97 | |||
| Pretax acquisition-related intangible assets amortization | 0.66 | 0.66 | |||||
| Pretax acquisition transaction and other costs | 0.03 | 0.03 | |||||
| Tax adjustment (related to above items) | (0.16 | ) | (0.16 | ) | |||
| Adjusted diluted earnings per share (Non-GAAP) | $ | 8.10 | $ | 8.50 | |||
| Weighted average diluted shares outstanding | 30,500 | 30,500 | |||||
