Dorman Products, Inc. SEC Filings

Dorman Products reported higher profitability on slightly increased sales for the quarter ended June 27, 2026. Net sales were $544,598 (in thousands), up 0.7% year over year, while net income rose to $87,771 and diluted EPS to $2.93, driven largely by $98.1 million in IEEPA tariff refunds and related interest that expanded gross margin by 550 basis points to 46.1%.

All three segments benefited from lower net tariff costs, with Heavy Duty net sales up 6.8% and segment income margins improving in Light Duty, Heavy Duty, and Specialty Vehicle. Operating cash flow increased to $196,381 (in thousands), aided by tariff refunds and inventory reductions, lifting cash and cash equivalents to $131,982 (in thousands). The company refinanced its capital structure by issuing $450.0 million of 6.25% senior notes due 2034 and securing an $800.0 million revolving credit facility, while repurchasing 816,213 shares for $96,471 (in thousands), leaving $362.9 million available under its buyback authorization.

Dorman Products reported second-quarter 2026 net sales of $544.6 million, up 0.7% from $541.0 million a year earlier. Gross profit increased to $251.2 million, or 46.1% of sales, versus 40.6%, lifting income from operations to $116.2 million and net income to $87.8 million. Diluted EPS was $2.93, up 53% from $1.91, and adjusted diluted EPS was $3.08, up 50%.

Results and cash flow benefited from IEEPA tariff cost recovery. Operating cash flow rose to $152.6 million in the quarter and $196.4 million year-to-date; the company repurchased $47 million of shares and ended June 27, 2026 with $132.0 million of cash and $440.5 million of long-term debt. Management now expects full-year 2026 net sales growth of 3%–5%, diluted EPS of $7.93–$8.23, and adjusted diluted EPS of $8.50–$8.80, assuming a 23.5% tax rate and tariffs enacted as of August 3, 2026.

Dorman Products, Inc. entered into major financing transactions. The company issued $450,000,000 of 6.250% senior notes due June 15, 2034, paying interest semi-annually starting December 15, 2026. The notes are senior unsecured obligations guaranteed by certain wholly owned subsidiaries and include optional redemption features and a change of control repurchase at 101% of principal plus accrued interest.

Dorman also amended its credit agreement, replacing the prior revolving facility with a new $800,000,000 five-year revolving credit facility maturing June 16, 2031, and repaid all outstanding term loans using proceeds from the notes. The amended facility is secured by substantially all personal property of the company and key domestic subsidiaries and includes financial covenants, including a maximum consolidated secured net leverage ratio of 3.50 to 1.00 (temporarily 4.00 to 1.00 after certain acquisitions) and a minimum consolidated interest coverage ratio of 2.00 to 1.00.

RILEY RICHARD T reported acquisition or exercise transactions in this Form 4 filing.

Dorman Products, Inc. director Richard T. Riley reported receiving a grant of 1,344 shares of common stock as restricted stock units valued at $122.71 per share. This is a compensation-related award, not an open-market purchase or sale. Following the grant, he directly holds 30,312 shares. The restricted stock units will vest in full on the earlier of the first anniversary of the grant date or the date of the company’s next annual meeting of shareholders.

Dorman Products, Inc. director Thomas James Darrell reported an equity compensation grant. He acquired 1,344 restricted stock units representing a contingent right to receive shares of Dorman common stock at a reported value of $122.71 per share. These restricted stock units will vest in full on the earlier of the first anniversary of the grant date or the date of the company’s next annual meeting of shareholders. Following this grant, Darrell directly holds 7,918 shares of common stock reported in this filing.

Dorman Products, Inc. director John J. Gavin reported an equity compensation grant. He acquired 1,344 restricted stock units representing a contingent right to receive Dorman common shares, valued at $122.71 per unit. Following this award, his direct holdings total 10,546 shares.

The restricted stock units will vest in full on the earlier of the first anniversary of the grant date or the date of the company’s next annual meeting of shareholders, aligning director compensation with long-term shareholder outcomes.

Dorman Products, Inc. executive Gregory C. Bowen reported routine equity compensation activity involving company common stock. On June 1, 2026, he acquired 215 shares through a grant of restricted stock units at a reference price of $115.93 per share, increasing his direct holdings to 5,354.3428 shares.

The restricted stock units represent a contingent right to receive shares and will vest in three equal annual installments beginning on March 2, 2027. On June 2, 2026, 76 shares were withheld at $125.83 per share to satisfy tax withholding obligations upon vesting, a non-market disposition treated as a sale under Section 16 rules. After these transactions, Bowen directly holds 5,278.3428 shares of Dorman common stock.

Dorman Products, Inc. reported that President, Specialty Vehicle Kathleen Pacheco had 116 shares of common stock withheld on the vesting of restricted stock units to cover tax obligations. This tax withholding is treated as a disposition under Section 16 rules. After this event, she directly holds about 4,526.5305 shares of Dorman common stock.