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 (NASDAQ:DORM) announces the release of over 300 new auto parts, enhancing options for repair professionals and vehicle owners. Key highlights include:
- Four new flexible stainless steel braided fuel lines designed for 2.3+ million GM vehicles.
- OE FIX solutions for HVAC heater hoses, water pumps, and advanced automotive electronics.
- New components aimed at improving durability and reliability, potentially saving time and costs in repairs.
These releases affirm Dorman's commitment to innovation in the aftermarket automotive sector.
Dorman Products reported record net sales of $401.6 million for Q1 2022, marking a 39% year-over-year increase. Diluted EPS rose to $1.11, up 9% from Q1 2021. Adjusted diluted EPS was $1.29, a 24% increase. The company reaffirmed its 2022 guidance, projecting net sales growth of 19% to 22% and diluted EPS of $4.94 to $5.14. Challenges included inflation and supply chain issues, but ongoing cost-saving measures and pricing adjustments helped maintain gross profit. Share repurchases amounted to $9.5 million this quarter.
Dorman Products, Inc. (NASDAQ:DORM) will announce its financial results for the first quarter ending March 26, 2022, on April 25, 2022, before market opening. The company specializes in providing solutions for repair professionals and vehicle owners, with a broad range of over 118,000 automotive replacement parts. Dorman's commitment to innovation and problem-solving has made it a key player in the automotive aftermarket for over a century. Investors can find more information on Dorman's website and are encouraged to stay updated on financial performance.
Dorman Products, Inc. (NASDAQ:DORM) has released its inaugural Environmental, Social, and Governance (ESG) Report, highlighting its commitment to responsible practices across four pillars: employees, products, the planet, and governance. The report was informed by an ESG materiality assessment and adheres to standards from the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). CEO Kevin Olsen expressed enthusiasm about the report, emphasizing its foundational role for future ESG initiatives. The full report is available on Dorman's Investor Relations portal.
Dorman Products (NASDAQ:DORM) has announced the release of 385 new aftermarket products, including innovative solutions for Chrysler, Dodge, Ram, and Jeep vehicles. Key highlights include a new intake manifold runner control designed for nearly 3 million vehicles and direct-replacement parking assist sensors for 8 million units, addressing high failure rates. Additionally, three new third brake light assemblies will enhance Dorman's coverage in the replacement part market for over 2 million GM, GMC, and Jeep SUVs. These releases underscore Dorman's commitment to providing reliable aftermarket options for consumers and repair professionals.
Dorman Products has launched Shop Press, a new online platform dedicated to auto repair news, tips, and stories. Located at ShopPress.com, it serves as a hub showcasing innovative repair techniques, customer stories, and industry insights. The site features articles like the importance of welders in shops, methods for removing cotter pins, and discussions on the Right to Repair legislation. Regular updates ensure fresh content, with visitors encouraged to subscribe to a newsletter for ongoing information.
Dorman Products, Inc. (NASDAQ:DORM) announced the release of 250 new auto parts, including over 100 aftermarket parts, enhancing repair options for vehicle owners and technicians. Key products include remanufactured transmission control modules for 1.6+ million Ford Focus and Fiesta vehicles, a fuel pump driver module for 1.2+ million GM vehicles, and a comprehensive wiper motor assembly for GM cars. These innovations aim to improve reliability, save installation time, and provide cost-effective solutions for common automotive issues.
Dorman Products reported record net sales of $398.2 million for Q4 2021, reflecting a 32% year-over-year increase. The diluted EPS for the quarter was $1.07, slightly down from $1.11 in Q4 2020, while adjusted diluted EPS rose to $1.33 from $1.19. For fiscal 2021, net sales reached $1.345 billion, up 23%, with net income of $131.5 million. Looking ahead, Dorman anticipates 2022 net sales growth of 19%-22% and diluted EPS between $4.94 and $5.14.