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.
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Dorman Products, Inc. (NASDAQ:DORM) announced it will release its financial results for the first quarter ended April 1, 2023, before the Nasdaq opens on May 2, 2023. This report will provide insights into the company's performance within the aftermarket replacement products sector, which has been its focus for over 100 years. Dorman specializes in innovative solutions for motor vehicle repairs and offers a wide range of products covering various automotive needs, from chassis to electronic components.
Investors are encouraged to review Dorman's upcoming earnings report for key metrics such as revenue, earnings per share (EPS), and guidance for future performance. Stakeholders may also find additional information about the company through its investor relations section on the official website.
Dorman Products, Inc. (NASDAQ:DORM) announced the launch of 250 new motor vehicle parts, including 75 aftermarket exclusives, aimed at enhancing repair professionals' capabilities and creating revenue opportunities for retailers and distributors. Notable releases include an aftermarket intake manifold runner control motor and arm for 2018-2020 Chevrolet models, and an upgraded engine coolant reservoir hose with an aluminum connector to replace a plastic design on Ford trucks. Furthermore, new turbocharger components engineered for millions of GM vehicles and enhanced control arms for Tesla models were introduced. These products reflect Dorman’s commitment to providing innovative and cost-effective solutions for vehicle maintenance.
Dorman Products (NASDAQ:DORM) has launched 200 new automotive parts, including 80 aftermarket exclusives and products for electric vehicles (EVs), enhancing its range for repair professionals. Key highlights include a first-to-market active grille shutter for Chevrolet Equinox and GMC Terrain, upgraded engine heater hoses with aluminum connectors, and new door lock actuators targeting millions of vehicles. The company also expanded its offerings for heavy-duty trucks and introduced various aftermarket-first components, like a fuel injector feed line for 2015-2020 Ford vehicles. Dorman continues its commitment to innovation and compliance with safety standards.
Dorman Products reported record net sales of $501.3 million for Q4 2022, a 25.9% increase year-over-year. However, diluted EPS dropped to $0.57 from $1.07 in Q4 2021, while adjusted diluted EPS fell to $1.01 from $1.33. For fiscal 2022, net sales reached $1.73 billion, up 28.9%, with diluted EPS at $3.85 versus $4.12 the previous year. Contributing factors included an extra week of sales and the acquisition of SuperATV. However, gross margin declined to 31.5% from 33.0% due to inflationary pressures. The company anticipates continued growth in 2023 with guidance for net sales of $1.95B - $2.00B.