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Dorman Products, Inc. (NASDAQ: DORM) is a prominent supplier specializing in original equipment dealer
Dorman Products reported strong Q3 2024 results with net sales of $503.8 million, up 3.2% year-over-year. Diluted EPS increased 41% to $1.80, while adjusted diluted EPS rose 40% to $1.96. The company's Light Duty segment showed 5% growth, while Heavy Duty declined 5% and Specialty Vehicle remained flat. Based on strong performance, Dorman updated its full-year 2024 guidance, now expecting net sales growth of 3.5% to 4.5% and diluted EPS of $6.15-$6.25. The company repurchased $27 million in shares and announced a new $500 million share repurchase authorization.
Dorman Products, Inc. (NASDAQ:DORM) has announced the release of hundreds of new aftermarket components and assemblies, expanding its catalog to over 133,000 SKUs. The October release includes several aftermarket exclusives under the Dorman® OE FIX™ line, offering improved repair solutions compared to OEM parts. Key innovations include:
1. An exhaust manifold repair clamp for GM and Isuzu vehicles
2. A durable transmission gearshift bracket for Dodge and Ram trucks
3. A flexible braided stainless steel fuel line for select Chevrolet, Pontiac, and Buick vehicles
Additional noteworthy products include a loaded brake backing plate for Ford vehicles, turbocharger accessories for Ram trucks, and various engine components for different makes and models. These new offerings represent over 18 million new repair opportunities for professionals and enthusiasts.
Dorman Products, Inc. (NASDAQ: DORM) has announced the date for reporting its third quarter 2024 financial results. The company will release its financial results for the quarter ended September 28, 2024, after the Nasdaq Stock Market closes on October 31, 2024. Additionally, Dorman has scheduled a conference call and webcast to discuss these results on November 1, 2024, at 8 a.m. ET.
Interested parties can access the conference call by dialing (888) 440-4182 within the U.S. or +1 (646) 960-0653 outside the U.S., using the conference ID number 1698878. A live audio webcast and accompanying presentation materials will be available on the company's website at investors.dormanproducts.com/events. A replay of the webcast will be accessible on the Investor section of Dorman's website after the call.
Dorman Products, Inc. (NASDAQ:DORM) has announced the release of hundreds of new aftermarket automotive components and assemblies for September 2024. The new offerings include Dorman OE FIX repair solutions designed to save time, money, and labor. Key additions include:
1. An upgraded loaded magnetic strut and ready-to-install strut assembly for certain GMC, Chevrolet, and Cadillac SUVs and trucks.
2. Two aftermarket-exclusive products: a fuel pump driver module for Lexus and Toyota vehicles, and an active grille shutter for select Cadillac Escalade models.
3. A turbocharger installation kit and oil feed line for Ram and Ford vehicles respectively.
4. An engine heater hose assembly for Ford Super Duty vehicles.
5. A high-demand replacement radiator fan assembly for popular Nissan SUVs.
These new products add to Dorman's extensive catalog of over 122,000 SKUs, providing millions of repair opportunities for the automotive aftermarket industry.
Dorman Products, Inc. (NASDAQ: DORM) reported strong Q2 2024 results, with net sales up 4.7% to $503.0 million and diluted EPS up 47% to $1.53. The company's Light Duty segment led growth with high-single digit increases, while Heavy Duty and Specialty Vehicle segments declined. Dorman generated $63 million in cash from operations, repaid $15 million in debt, and repurchased $25 million of shares.
Based on these results, Dorman raised its full-year 2024 earnings guidance. The company now expects diluted EPS of $5.32 to $5.52 and adjusted diluted EPS of $6.00 to $6.20, representing significant increases from previous guidance. Dorman remains confident in its growth and innovation strategy to drive momentum for customers and stakeholders.
Dorman Products, Inc. (NASDAQ:DORM) has appointed Alexander S. Whitelam as Vice President, Investor Relations & Risk Management. Whitelam joins Dorman from SEI Investments Company, where he served as Head of Investor Relations. His prior experience includes investor relations and finance roles at Chesapeake Utilities, AMETEK Inc., Essential Utilities, BNY Mellon, and Wells Fargo.
Whitelam is an IRC (Investor Relations Charter) holder and a long-time member of NIRI: The Association for Investor Relations. David Hession, Dorman's Senior Vice President and Chief Financial Officer, expressed excitement about Whitelam's appointment, highlighting his broad experience across various industries as an asset in expanding relationships with the investment community and enhancing Dorman's investor relations program.
Dorman Products, a leading provider of aftermarket automotive parts, announced it will release its second quarter 2024 financial results on August 1, 2024, after the close of the Nasdaq Stock Market. The company will host a conference call and webcast the following day, August 2, 2024, at 8 a.m. ET to discuss the results. Participants can join by dialing specific phone numbers or accessing the webcast on the company's investor relations website. The webcast replay will be available shortly after the call. Dorman Products, with a history of over 100 years, continues to innovate and expand its catalog of replacement parts for various vehicles.
Dorman Products (NASDAQ:DORM) has announced its July 2024 release of hundreds of new aftermarket automotive components and assemblies, expanding its catalog to over 122,000 SKUs. Highlights include new OE FIX™ repair solutions designed to save time, money, and labor, such as an upgraded electronic throttle body for Chrysler, Dodge, Jeep, and Ram vehicles, and a durable engine intake manifold for Audi and Volkswagen models. Other key releases include a power module relay repair kit, replacement valve cover kits, a roof-mounted GPS antenna, a keyless entry keypad, and various turbocharger accessories. These releases aim to offer performance and convenience not available from dealerships, targeting automotive and heavy-duty parts distributors, retailers, and repair shops.
Dorman Products (NASDAQ:DORM) has announced the release of hundreds of new aftermarket automotive components and assemblies, expanding its catalog to over 120,000 SKUs. These additions include a variety of first-to-aftermarket products that cater to both passenger and commercial vehicles. Key highlights include a control arm bolt kit for GM trucks and SUVs, an engine oil cooler for Ford Transit vans, and fuse blocks for Jeep Wrangler and Gladiator models. This expansion aims to provide cost-saving and time-efficient solutions for customers across North America.
Dorman Products (NASDAQ:DORM) announced the grand opening of a new 100,000 square foot drive shaft manufacturing facility in Virginia Beach, VA on June 12, 2024. This new site, five times larger than their previous one, features advanced machinery, robotic welding, and specialized packaging areas. The expansion aims to meet increased demand, enhance production, and improve shipment efficiency of their 3,600+ precision steel and aluminum drive shafts. Senior Vice President Eric Luftig highlighted that this facility represents a significant investment to better serve customers and expand Dorman's USA manufacturing footprint to over one million square feet.
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