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, Inc. (DORM) will announce its third-quarter financial results for the period ending September 25, 2021, on October 25, 2021, before the stock market opens. Dorman has been a leader in the automotive aftermarket for over 100 years, providing innovative solutions with a product range of more than 80,000 parts for various vehicles. The company focuses on enhancing convenience and reliability in automotive repair. Investors are encouraged to check the Investor Relations section of Dorman's website for further updates and data.
Dorman Products (NASDAQ:DORM) announced the release of over 200 new auto parts, including 48 new-to-the-aftermarket solutions. Key highlights include the OE FIX™ loaded magnetic strut designed for nearly 2 million General Motors vehicles, which eliminates the need for a spring compressor, simplifying repairs. Additionally, an upgraded engine coolant water outlet made of aluminum replaces plastic in over 270,000 Chrysler, Dodge, and Mitsubishi vehicles, enhancing durability. Other new offerings include window regulators and an aftermarket-exclusive air intake hose.
Dorman Products has announced the release of 223 new replacement auto parts, including 54 aftermarket-first solutions, enhancing their extensive product catalog. Highlights include aftermarket-exclusive lower steering shafts for select Ram pickups and over 2 million Ford and Lincoln trucks, new turbo accessories for popular Chevrolet and Buick models, and several must-have parts for high-mileage vehicles. This release reinforces Dorman's commitment to providing repair professionals and vehicle owners with innovative and reliable solutions.
Summary not available.
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.