Dorman Products Stock Price, News & Analysis

Dorman Products, Inc. (NASDAQ: DORM) reported strong Q2 2024 results, with net sales up 4.7% to $503.0 million and diluted EPS up 47% to $1.53. The company's Light Duty segment led growth with high-single digit increases, while Heavy Duty and Specialty Vehicle segments declined. Dorman generated $63 million in cash from operations, repaid $15 million in debt, and repurchased $25 million of shares.

Based on these results, Dorman raised its full-year 2024 earnings guidance. The company now expects diluted EPS of $5.32 to $5.52 and adjusted diluted EPS of $6.00 to $6.20, representing significant increases from previous guidance. Dorman remains confident in its growth and innovation strategy to drive momentum for customers and stakeholders.

Dorman Products, Inc. (NASDAQ:DORM) has appointed Alexander S. Whitelam as Vice President, Investor Relations & Risk Management. Whitelam joins Dorman from SEI Investments Company, where he served as Head of Investor Relations. His prior experience includes investor relations and finance roles at Chesapeake Utilities, AMETEK Inc., Essential Utilities, BNY Mellon, and Wells Fargo.

Whitelam is an IRC (Investor Relations Charter) holder and a long-time member of NIRI: The Association for Investor Relations. David Hession, Dorman's Senior Vice President and Chief Financial Officer, expressed excitement about Whitelam's appointment, highlighting his broad experience across various industries as an asset in expanding relationships with the investment community and enhancing Dorman's investor relations program.

Dorman Products, a leading provider of aftermarket automotive parts, announced it will release its second quarter 2024 financial results on August 1, 2024, after the close of the Nasdaq Stock Market. The company will host a conference call and webcast the following day, August 2, 2024, at 8 a.m. ET to discuss the results. Participants can join by dialing specific phone numbers or accessing the webcast on the company's investor relations website. The webcast replay will be available shortly after the call. Dorman Products, with a history of over 100 years, continues to innovate and expand its catalog of replacement parts for various vehicles.

Dorman Products (NASDAQ:DORM) has announced its July 2024 release of hundreds of new aftermarket automotive components and assemblies, expanding its catalog to over 122,000 SKUs. Highlights include new OE FIX™ repair solutions designed to save time, money, and labor, such as an upgraded electronic throttle body for Chrysler, Dodge, Jeep, and Ram vehicles, and a durable engine intake manifold for Audi and Volkswagen models. Other key releases include a power module relay repair kit, replacement valve cover kits, a roof-mounted GPS antenna, a keyless entry keypad, and various turbocharger accessories. These releases aim to offer performance and convenience not available from dealerships, targeting automotive and heavy-duty parts distributors, retailers, and repair shops.

Dorman Products (NASDAQ:DORM) has announced the release of hundreds of new aftermarket automotive components and assemblies, expanding its catalog to over 120,000 SKUs. These additions include a variety of first-to-aftermarket products that cater to both passenger and commercial vehicles. Key highlights include a control arm bolt kit for GM trucks and SUVs, an engine oil cooler for Ford Transit vans, and fuse blocks for Jeep Wrangler and Gladiator models. This expansion aims to provide cost-saving and time-efficient solutions for customers across North America.

Dorman Products (NASDAQ:DORM) announced the grand opening of a new 100,000 square foot drive shaft manufacturing facility in Virginia Beach, VA on June 12, 2024. This new site, five times larger than their previous one, features advanced machinery, robotic welding, and specialized packaging areas. The expansion aims to meet increased demand, enhance production, and improve shipment efficiency of their 3,600+ precision steel and aluminum drive shafts. Senior Vice President Eric Luftig highlighted that this facility represents a significant investment to better serve customers and expand Dorman's USA manufacturing footprint to over one million square feet.

Dorman Products (NASDAQ: DORM) has unveiled hundreds of new aftermarket automotive components and assemblies, expanding its catalog to over 120,000 SKUs. This extensive range provides numerous repair and sales opportunities across North America. Key highlights include ten new Dorman® OE FIX™ innovations designed to save customers time, money, and labor. Notable products are an upgraded electronic throttle body for Chevrolet and GMC vehicles featuring SensorShield™ technology, a power steering fluid cooler with a robust design for General Motors vehicles, and various first-to-market components for popular models such as Nissan Altima, Jeep Wrangler, and Ford vehicles. These additions reflect Dorman's commitment to providing cost-effective, high-performance aftermarket solutions.

Dorman Products, Inc. reported first-quarter 2024 results with net sales of $468.7 million, a 0.4% increase from the prior year. Diluted EPS rose to $1.05, a 483% increase, while adjusted diluted EPS was $1.31, up 134%. The company generated $52 million in cash from operating activities, repaid $15 million in debt, and repurchased $27 million in shares. Dorman confirms its full-year 2024 guidance, projecting net sales growth of 3-5%, diluted EPS of $4.71-$5.01, and adjusted diluted EPS of $5.40-$5.70.

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