Dorman Products, Inc. reports news on its motor vehicle aftermarket business, including replacement products for cars, trucks and specialty vehicles. The company sells automotive and heavy-duty replacement parts, hardware, brake parts, fasteners and complex electronic solutions under the Dorman brand and sub-brands such as OE Solutions, Help!, Conduct-Tite and Super ATV.
Recurring updates cover quarterly and annual results, guidance, cash generation, share repurchases and performance across the Light Duty, Heavy Duty and Specialty Vehicle segments. Dorman news also includes new aftermarket repair products, supply chain and operational initiatives, leadership changes and board governance developments.
Dorman Products (NASDAQ:DORM) introduces over 400 new auto parts, enhancing repair options for consumers and technicians. Key releases include flexible stainless steel braided fuel lines for 2.5+ million GM vehicles, aftermarket suspension stabilizer bar kits for 19 million aging vehicles, and turbocharger boost solenoid valves for over 2 million Buick, Chevrolet, and Ford vehicles. These products aim to simplify repairs and improve performance, thereby advancing Dorman's mission to provide greater freedom in vehicle maintenance.
Dorman Products, Inc. (DORM) will release its financial results for the fourth quarter and fiscal year on February 22, 2022. This announcement comes as the company continues to grow its extensive range of over 81,000 automotive replacement parts, aiding repair professionals and vehicle owners. Dorman has been a leader in the automotive aftermarket for over a century, emphasizing efficient solutions for vehicle repairs.
Dorman Products (NASDAQ:DORM) and Dayton Parts will jointly present their first tradeshow booth at Heavy Duty Aftermarket Week (January 24-27, Grapevine, Texas) after Dorman's acquisition of Dayton in August 2021. This event, the largest gathering of heavy-duty aftermarket professionals, will showcase innovations like CargoMaxx HD® shocks and remanufactured DEF supply modules. Dorman aims to enhance customer value through this collaboration, as highlighted by Vice President Chris Reamsnyder.
Dorman Products (NASDAQ:DORM) has launched 689 new auto parts, including 248 aftermarket solutions designed to enhance repair options for vehicle owners. Key offerings include an OE FIX power transfer unit for over 2.3 million Ford, Lincoln, and Mercury vehicles, aimed at addressing lubrication failures in extreme temperatures. Additional products feature a manual transmission shift tower for Jeep Wranglers and pre-pressed axles for aging Toyota Tacoma trucks. These innovations support Dorman's commitment to providing reliable aftermarket choices for common vehicle failures.
Dorman Products (NASDAQ: DORM) has launched a new real-time inventory tool on DormanProducts.com, allowing users to easily find local auto parts in stock across various retailers. Customers can search for parts using multiple criteria and view available inventory on a map. This initiative is part of a strategic partnership with Epicor, enhancing access and convenience for customers. The feature is now available for most of Dorman's major retail partners, and more partners will be added over time.
Dorman Products (NASDAQ:DORM) has announced the launch of 308 new auto parts, which include 93 new-to-the-aftermarket solutions. Key releases feature an OE FIX™ multiple displacement solenoid for over 4 million Chrysler vehicles, an upgraded electric engine water pump for 700,000 BMW vehicles, and a 4WD auto locking hub assembly for 1.2 million Ford and Lincoln SUVs. Dorman aims to provide affordable alternatives for common vehicle issues, including a heater core bypass kit to mitigate costly repairs.
Dorman Products, Inc. (NASDAQ:DORM) has announced the launch of 445 new auto parts, including 198 new-to-the-aftermarket parts, aimed at enhancing repair options for vehicle owners. Key products include a flexible stainless-steel braided fuel line compatible with over 2 million Chevrolet and GMC vehicles and a steering wobble repair kit for select Jeep Wrangler models, improving steering performance for over 600,000 vehicles. Dorman emphasizes its commitment to providing innovative solutions in the automotive aftermarket, enhancing convenience and reliability for consumers.
Dorman Products, Inc. (NASDAQ:DORM) appointed J. Darrell Thomas as an independent director effective October 30, 2021. This expands the Board to nine directors, with seven being independent. Thomas, who is Vice President and Treasurer at Harley-Davidson, brings extensive corporate finance and risk management experience to the Board. His prior roles include Interim CFO at Harley-Davidson and positions at PepsiCo and in banking. CEO Kevin Olsen highlighted the value Thomas will add to Dorman through his expertise in capital markets and investor relations.
Dorman Products has launched the third edition of its OE FIX Guide, showcasing innovative products that repair shops cannot source from original equipment manufacturers, ultimately aiding in time and cost savings for installers. Key highlights include an upgraded oil filter housing for Chrysler engines and a revised 4WD actuator for GM SUVs. This 24-page magazine emphasizes Dorman's commitment to enhancing the aftermarket repair experience, providing exclusive solutions that improve efficiency and longevity for vehicles.
Dorman Products reported record net sales of $348.4 million for Q3 2021, up 16% from $300.6 million in Q3 2020. Diluted earnings per share (EPS) were $1.04, slightly down from $1.06 year-over-year. The acquisition of Dayton Parts accelerated Dorman's growth strategy in the heavy-duty market. Adjusted diluted EPS rose to $1.18, compared to $1.14 last year. Despite inflationary impacts and a decrease in gross margins to 33.5%, Dorman expects full-year net sales growth to be between 19% and 22%. The company also repurchased 232,618 shares for $23.2 million.