Welcome to our dedicated page for Dorman Products news (Ticker: DORM), a resource for investors and traders seeking the latest updates and insights on Dorman Products stock.
Dorman Products, Inc. (NASDAQ: DORM) is a motor vehicle aftermarket company that regularly publishes updates on its financial performance, product launches, and organizational developments. This news page aggregates those announcements so readers can follow how Dorman’s business evolves over time.
In its quarterly earnings releases, Dorman reports net sales, gross profit, segment performance for its Light Duty, Heavy Duty, and Specialty Vehicle businesses, and diluted earnings per share. The company also discusses non-GAAP measures such as adjusted net income and adjusted diluted EPS, along with commentary from management on demand trends, supply chain diversification, productivity efforts, and the impact of tariffs and other external factors. These releases are often accompanied by details on investor conference calls and webcasts.
Dorman’s news also highlights product and technology developments in the motor vehicle aftermarket. Recent examples include the introduction of an all-new Dorman OE FIX electronic power steering rack for Ram pickup trucks and the release of 164 new automotive repair solutions for the Light Duty segment, many of which are described as aftermarket exclusives. The company provides technical details on selected products, such as design improvements, validation to Federal Motor Vehicle Safety Standards, and features intended to enhance durability and ease of installation.
Organizational updates, such as leadership appointments and planned executive retirements, are also communicated through news releases. Visitors to this page can review these items together to understand how Dorman manages its segments, invests in new products, and addresses changes in its leadership team. For investors, repair professionals, and vehicle owners interested in DORM, this news feed offers a centralized view of the company’s public announcements.
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.
Dorman Products, Inc. (NASDAQ:DORM) has launched the New Solutions Catalog, a digital and print resource aimed at enhancing awareness of its latest aftermarket products among auto part counter representatives and repair shop service writers. This catalog showcases hundreds of new products released each month, emphasizing Dorman's leadership in categories like turbocharger accessories and advanced electronics. The catalog is designed to help service professionals better serve customers by offering reliable aftermarket solutions. It is available online for browsing and distribution is underway across North America.
Dorman Products, Inc. (NASDAQ:DORM) has introduced 300 new auto parts, including a third that are aftermarket exclusives, enhancing its extensive catalog of over 118,000 solutions. Notable additions include fuel pump driver modules for GM vehicles and advanced OE FIX parts designed to improve reliability and installation ease. The new parts cater to a vast range of vehicles, significantly expanding Dorman's market presence and reinforcing its leadership in the aftermarket sector.
Dorman Products reported record quarterly net sales of $417.4 million, a 34% increase from $310.6 million last year. Diluted EPS rose to $1.20, and adjusted EPS increased to $1.29.
The company adjusted its 2022 EPS guidance to $4.50-$4.70 due to higher interest rates, while maintaining net sales growth guidance of 19%-22%. Dorman expanded its share repurchase program to $600 million, with the period extended through December 31, 2024.
Dorman Products (NASDAQ:DORM) has launched over 230 new premium engineered products in the first half of 2022, continuing its growth from 600 new products in 2021. These new chassis parts include a variety of upgrades such as an OE FIX alignment ball joint for Ford Transit vans, tracking arms for Honda Odyssey, and solutions for hybrid and electric vehicles like Tesla models S and X. Dorman emphasizes stringent quality control in manufacturing, aiming for high performance and long service life in its components.
Dorman Products, Inc. (NASDAQ:DORM) announces over 300 new auto parts, one-third of which are new-to-the-aftermarket. Highlights include:
- Aftermarket-exclusive windshield wiper fluid reservoir for more than 1.5 million Ford and Lincoln trucks.
- First-to-market heater hose assembly for 1.7 million Ford Escape and Lincoln MKC vehicles.
- New rear window wiper arm for late-model Jeep Renegade SUVs.
The release strengthens Dorman's position in automotive aftermarket solutions and offers enhanced options for repair professionals and vehicle owners.
Dorman Products, Inc. (NASDAQ:DORM) will report its financial results for Q2 2022 on July 25, 2022, before the Nasdaq opens. The company specializes in providing replacement products for the automotive aftermarket, enhancing convenience and reliability for repair professionals and vehicle owners. Dorman has been a key player for over a century, offering a diverse catalog of parts for both light-duty and heavy-duty vehicles. The announcement also includes a caution about forward-looking statements and potential risks that may impact actual results.