Dorman Products Stock Price, News & Analysis

Dorman Products (NASDAQ:DORM) has completed the acquisition of Dayton Parts for approximately $338 million, financed partly through cash and a new $600 million revolving credit facility. The acquisition aims to enhance Dorman's strategic priorities and financial flexibility to support growth. Consequently, Dorman revised its 2021 guidance, projecting net sales between $1,263 and $1,300 million, up from the previous estimate of $1,191 to $1,224 million, and indicating a growth of 16% to 19% compared to 2020. Adjusted diluted EPS is now expected to be between $4.56 and $4.80.

Dorman Products reported record net sales of $310.6 million for Q2 2021, a 33% increase from $233.2 million in Q2 2020. Diluted earnings per share were $0.99, up from $0.43 in the prior year. The company attributes growth to the economic reopening and strong product demand, with all sales being organic. SG&A expenses decreased to 22.4% of net sales. Dorman also announced an acquisition of Dayton Parts, expected to close in H2 2021, which could accelerate growth in the heavy-duty segment. Share repurchases totaled 265,889 shares worth $27.2 million.

Dorman Products has introduced 270 new auto parts, including 78 aftermarket-first solutions, enhancing repair options for Jeep, Ram, Dodge, and Chrysler vehicles. Key highlights include an upgraded aluminum oil filter housing designed to prevent oil leaks, replacing plastic parts on over 4.2 million vehicles. Additionally, a wheel hub bolt kit for Ford pickups streamlines brake service. The month's lineup also features new blind spot modules, window regulators, blower motor resistors, control arms, drive shafts, air door actuators, and wheel hub bearing assemblies.

Dorman Products, Inc. (NASDAQ:DORM) will release its financial results for the second quarter on July 26, 2021, before the market opens. The company specializes in aftermarket automotive parts, offering over 80,000 distinct components designed to provide solutions for repair professionals and vehicle owners. Founded over a century ago, Dorman focuses on delivering quality products that enhance convenience and reliability in vehicle maintenance.

Dorman Products has announced its agreement to acquire Dayton Parts for $338 million. This acquisition aims to enhance Dorman's presence in the heavy-duty aftermarket segment by adding a comprehensive offering of undercarriage components and a robust distribution network.

Dayton, which reported $168 million in net sales for 2020, is expected to contribute positively to Dorman's earnings immediately. The deal will be financed through a new $600 million revolving credit facility, allowing Dorman to leverage enhanced cash flow for strategic initiatives.

Dorman Products has launched over 320 new automotive parts this month, including 75 aftermarket-first solutions aimed at enhancing vehicle repair options for professionals and owners. Key highlights include:

• Hydrocarbon injector nozzles for heavy-duty trucks
• OE FIX™ radiator coolant hose connector for over 6.5 million vehicles
• OE FIX fuse block module for certain Chevrolet Malibu models, saving time and costs in repairs

These innovative products reinforce Dorman's commitment to providing affordable and durable solutions in the automotive aftermarket.

Dorman Products has increased production of aftermarket replacement parts for heavy and medium-duty trucks in response to high demand due to COVID-19 supply chain disruptions. With over 2,000 direct-replacement truck parts now available, including critical emissions components, Dorman aims to support truck operators and fleets facing inventory shortages. This initiative seeks to alleviate the backlog of repairs caused by a lack of original equipment parts, ensuring trucks remain operational. The decision aligns with the ongoing need for reliable logistics in North America.

Dorman Products has announced the release of over 496 new automotive repair products, enhancing options for vehicle owners and installers. Key highlights include new transmission oil cooler lines covering more than 5 million vehicles, as well as advanced driver-assistance systems (ADAS) solutions such as cruise control distance sensors for late model Ford and Lincoln vehicles. The company’s ongoing innovation solidifies its position in the automotive aftermarket, with nearly 400 direct replacement transmission lines available, all undergoing rigorous quality testing to ensure reliability.

Dorman Products (NASDAQ: DORM) reported Q1 2021 net sales of $288.0 million, a 12% increase from $257.7 million in Q1 2020. Diluted EPS rose to $1.02, a 46% jump from $0.70 in the same quarter last year. Adjusted diluted EPS also saw a significant increase to $1.04, up 58% year-over-year. For FY 2021, Dorman anticipates net sales growth between 9%-12%, with diluted EPS projected between $4.32 and $4.52. The company emphasizes strong balance sheet and liquidity, aiming for continued innovation in the automotive aftermarket.