Dorman Products Stock Price, News & Analysis

Dorman Products (NASDAQ:DORM) announced the introduction of 279 new vehicle repair parts, with nearly half being first to the aftermarket. Key additions include an OE FIX™ crankcase vent valve for over 100,000 Audi and Volkswagen vehicles, reducing repair costs. The launch also features a steering wobble kit for Jeep Wranglers, enhancing steering performance. Dorman continues to expand into the heavy-duty market with a coolant sensor for Mack trucks. Additionally, they are innovating in emerging technologies, introducing a door handle repair kit for Tesla S vehicles.

Dorman Products, Inc. (NASDAQ:DORM) has introduced over 300 new motor vehicle parts, with half being exclusive to the aftermarket. These innovations include the Dorman OE FIX climate control module, designed for 1.7 million Chevrolet Express and GMC Savana vehicles, and a turbocharger replacement line kit for popular GM models. The new products aim to improve efficiency and reliability for repair professionals. Eric Luftig, VP of Product and Engineering, emphasized Dorman's commitment to providing time-saving and cost-effective solutions. The company now offers a catalog exceeding 118,000 parts.

Dorman Products reported third quarter 2022 net sales of $413.5 million, a 19% increase from $348.4 million in the previous year. However, diluted EPS fell by 7% to $0.97 from $1.04. Adjusted diluted EPS also declined slightly by 1% to $1.17. Notably, the company completed the $490 million acquisition of SuperATV, aiming to expand into the growing powersports aftermarket. Despite sales growth, gross profit margins decreased due to inflationary pressures, alongside increased SG&A expenses. Dorman updated its full-year guidance, forecasting net sales of $1.65 - $1.69 billion.

Dorman Products, Inc. (NASDAQ:DORM) has announced the release of over 400 new aftermarket vehicle parts, with nearly half being exclusive to the aftermarket. This expansion includes innovations across various categories, including 18 new OE FIX solutions. Notable new products include an upgraded aluminum thermostat housing for popular Chrysler models and new turbocharger components covering 5.5 million Ford trucks. The company is also enhancing its heavy-duty product line following its acquisition of Dayton Parts, introducing numerous sensors covering over 2 million vehicles.

Dorman Products, Inc. (NASDAQ:DORM) will report its third-quarter financial results on October 24, 2022, before the Nasdaq opens. The company specializes in providing aftermarket replacement products and has been a leader in the automotive parts industry for over a century. Dorman offers a broad range of products that aim to enhance vehicle repair efficiency and reliability. The press release includes forward-looking statements subject to risks and uncertainties which may affect actual outcomes. Investors are encouraged to visit Dorman’s website for more information.

Dorman Products, Inc. (NASDAQ:DORM) announced the acquisition of Super ATV, LLC for $490 million in cash, with an additional earn-out of up to $100 million based on performance targets in 2023 and 2024. This transaction, finalized on October 4, 2022, was financed through a $500 million incremental term loan facility. SuperATV, founded in 2004, is recognized in the powersports aftermarket for its high-quality products. The acquisition aims to enhance Dorman's portfolio and strengthen its market position in the motor vehicle aftermarket.

Dorman Products, Inc. (NASDAQ:DORM) announced the appointment of Michael P. Dickerson as Vice President, Investor Relations & Risk Management, effective September 26, 2022. Dickerson brings over two decades of experience, having previously held similar roles at various companies including The Aaron’s Company and Gannet Co.. The firm's CFO, David Hession, emphasized the importance of strong relationships with the financial community and believes Dickerson's background will enhance Dorman's investor relations program.

Dorman Products, Inc. (NASDAQ:DORM) has unveiled over 200 new motor vehicle parts, with 50% being aftermarket-exclusive. This expansion adds to Dorman's catalog of over 118,000 aftermarket solutions, catering to diverse vehicle types including internal combustion, hybrid, and electric models. Notably, the latest offerings include OE FIX parts aimed at improving efficiency and reliability. Highlights feature new kits for Ford Transit vans, a robust engine heater hose, and exclusive components for various Chrysler and GM vehicles, all designed to enhance convenience for repair professionals and vehicle owners.

Dorman Products has announced its acquisition of SuperATV for $490 million in cash, with an additional earn-out of up to $100 million based on performance targets for 2023 and 2024. Adjusted for tax benefits, the effective transaction value is approximately $445 million. This move provides Dorman with a strategic entry into the powersports aftermarket, leveraging SuperATV's strong growth and product innovation. The acquisition is expected to enhance Dorman's margins and earnings per share immediately, supported by a $500 million credit facility.