Dorman Products Stock Price, News & Analysis

Dorman Products, Inc. (NASDAQ:DORM) has appointed Lisa Bachmann as an independent director, effective September 25, 2020. This expands the board to 8 directors, with 6 being independent. Bachmann brings extensive experience from her previous role as Executive VP at Big Lots, Inc. She is set to serve on the Audit, Compensation, and Corporate Governance committees. CEO Kevin Olsen expressed confidence in her broad business knowledge, anticipating significant benefits for Dorman Products. The company continues to focus on innovative automotive aftermarket solutions.

Dorman Products announces the launch of its new line of collision parts aimed at heavy-duty trucks, designed to enhance collision coverage while maintaining factory appearance. The line includes over 280 different parts such as bumpers and headlights, providing fleet managers with cost-effective options for repairs. Now available through national distributors, these parts offer durability and affordability, addressing a gap in the market identified by fleets across North America. This initiative aims to reduce maintenance budgets while improving truck aesthetics.

Dorman Products has unveiled over 320 new automotive repair products aimed at enhancing the repair capabilities of auto care shops and vehicle owners. Noteworthy offerings include OE FIX pre-pressed axles for Toyota trucks, designed to streamline axle repairs and save significant time. Additionally, a new-build master window switch for 1.6 million General Motors vehicles, a transmission oil cooler line for Chrysler and Dodge cars, and an engine air intake hose for GM vehicles are among the key releases. This move increases aftermarket quality and availability in the sector.

Dorman Products has launched its second OE FIX Guide, a 24-page publication showcasing innovative aftermarket solutions unavailable from original equipment manufacturers. The guide features products designed to save time and cost, including upgraded ABS control modules, flexible stainless steel fuel lines, and patented VVT solenoids. Already distributed to thousands of garages in North America, shops can order their copy at DormanProducts.com/OEFIX. The first guide won accolades at the 2019 Content Marketing Awards, emphasizing Dorman's commitment to effective vehicle repairs.

Dorman Products (NASDAQ:DORM) has introduced over 270 new automotive repair products, enhancing options for vehicle repair. A standout is the OE FIX electronic power steering rack for nearly 2 million Ford F-150 trucks, which includes a free programming tool, simplifying installation and reducing costs. Additional offerings include climate control modules for GM and Ford vehicles, and components for various other brands. These innovations aim to improve repair efficiency and reliability, countering the limited availability of remanufactured parts.

Dorman Products reported Q2 2020 net sales of $233.2 million, an 8.3% decline from $254.2 million in Q2 2019. Order volume decreased initially due to COVID-19 but improved significantly in June and continued into July. GAAP diluted EPS was $0.43 compared to $0.66 year-over-year. The estimated negative impact of COVID-19 on net sales was 14% to 16%. Despite challenges, Dorman maintains a strong balance sheet with $230 million in cash and no outstanding revolving credit. The company has paused share repurchases due to uncertainty.

Dorman Products, Inc. (NASDAQ:DORM) announced it has rescheduled its second quarter 2020 financial results release to July 29, 2020, after market close due to a management conflict. This report will cover results for the quarter ended June 27, 2020. Dorman is a leader in the automotive aftermarket, providing over 80,000 parts designed to enhance repair efficiency and vehicle reliability. The company has been innovating solutions for over a century, assisting repair professionals and vehicle owners.

Dorman Products, Inc. (NASDAQ:DORM) announced it will release its financial results for the second quarter ended June 27, 2020, on August 3, 2020. The company is a leader in the automotive aftermarket, providing over 80,000 replacement parts for light-duty and heavy-duty vehicles. Dorman aims to enhance repair convenience and reliability, having been a pioneer in the industry for over a century. The release includes forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ significantly from those predicted.

Dorman Products (NASDAQ: DORM) announces over 200 new automotive repair products, enhancing options for professional installers and vehicle owners. Key releases include exclusive steering shafts for over 10 million GM vehicles, upgraded nitrogen suspension compressors for 1.6 million Ram trucks, and new windshield wiper motor and linkage assemblies for millions of vehicles. These innovative solutions are designed to save time and money while ensuring safety and reliability, further extending Dorman's product coverage across the North American market.