Dorman Products (DORM) Company Report

Dorman Products reported an 8% sales increase and a 34% increase in adjusted diluted EPS in the third quarter, reaffirming its guidance. The company achieved a 15% CAGR top-line growth from 2019 to 2024 and maintains a strong financial profile with less than one times EBITDA leverage.
The company's innovation engine is a key differentiator, launching 5,000-6,000 new SKUs annually, many of which are "new to the aftermarket". Dorman also uniquely develops its own copyrighted software for electromechanical parts, positioning it for increasingly complex, software-enabled vehicles.
Dorman operates across Light Duty Passenger Vehicle, Heavy Duty, and Specialty Vehicle segments, having expanded into the latter two through acquisitions of Dayton Parts (2021) and Super ATV (2022). The company targets long-term operating margins of high-teens for Light Duty and Specialty Vehicle and mid-teens for Heavy Duty.
The company has diversified its global supply chain, reducing reliance on China and Taiwan to below 30% (from 80% in 2018-2019), with approximately 30% of sourcing now in the U.S.. This, combined with productivity initiatives, has contributed to achieving over a 40% gross margin percentage.

Nov 4, 2025, 7:00 PM

Transcript

Dorman Products Highlights Strong Financials, Innovation, and Strategic Growth at Automotive Symposium

DORM

Guidance Update

M&A

New Projects/Investments

Dorman Products, with a $4 billion market cap and $400 million net debt, reported an 8% sales increase and a 34% increase in adjusted diluted EPS in its most recent quarter, reaffirming guidance and demonstrating a strong financial profile.
The company differentiates itself through its innovation engine, launching 5,000-6,000 new SKUs annually and leveraging unique capabilities in complex electronics, including proprietary software development, which has contributed to a gross margin percentage over 40%.
Strategic expansion into heavy-duty and specialty vehicle segments through acquisitions (Dayton Parts in 2021 and Super ATV in 2022) has diversified its market presence beyond light-duty passenger vehicles.
Dorman has significantly diversified its global supply chain, reducing reliance on China and Taiwan from approximately 80% in 2018-2019 to below 30% today, with about 30% of sourcing now in the U.S..
The company is positioned for future growth in the evolving automotive aftermarket, including electric vehicles (with 400-500 parts for pure plug-in EVs) and hybrids, leveraging its engineering capabilities.

Nov 4, 2025, 7:00 PM

Transcript

Dorman Products Reports Strong Q3 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Dorman Products reported Q3 2025 consolidated net sales of $544 million, an increase of 7.9% year over year, primarily driven by tariff-related pricing actions.
Adjusted diluted EPS grew 34% year over year to $2.62, with the adjusted operating margin expanding 340 basis points to 20.5%.
The company reaffirmed its full-year 2025 guidance, projecting net sales growth of 7% to 9% and adjusted diluted EPS between $8.60 and $8.90.
Management expects a lower gross margin in Q4 2025 compared to Q3, as higher tariff-related costs are anticipated to impact cost of goods sold.
Dorman maintains a strong balance sheet with net debt of $401 million and a net leverage ratio of 0.92 times adjusted EBITDA at the end of Q3 2025.

Oct 28, 2025, 12:00 PM

Transcript

Dorman Products Reports Strong Q3 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Product Launch

Dorman Products reported Q3 2025 consolidated net sales of $544 million, up 7.9% year-over-year, primarily driven by tariff-related pricing actions.
The company achieved an adjusted operating margin of 20.5% and adjusted diluted EPS of $2.62, a 34% increase year-over-year.
For the full year 2025, Dorman Products reaffirmed net sales growth guidance of 7%-9% over 2024 and adjusted diluted EPS guidance of $8.60-$8.90.
Management expects a lower gross margin in Q4 2025 compared to Q3 due to the timing dynamics of tariffs impacting cost of goods sold.
The company's balance sheet remains strong with net debt of $401 million and a net leverage ratio of 0.92x adjusted EBITDA at the end of Q3 2025, with total liquidity at $654 million.

Oct 28, 2025, 12:00 PM

Transcript

Dorman Products Reports Strong Q3 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Dorman Products reported strong Q3 2025 financial results, with consolidated net sales of $544 million, up 7.9% year over year, and adjusted diluted EPS of $2.62, a 34% increase year over year.
The company achieved an adjusted operating margin of 20.5%, a 340 basis point increase from the prior year, primarily driven by the timing dynamics of tariff-related pricing and costs. However, Dorman expects a lower gross margin in Q4 as higher tariff costs begin to impact the income statement.
Dorman reaffirmed its full-year 2025 guidance, expecting net sales growth of 7% to 9% and adjusted diluted EPS in the range of $8.60 to $8.90.
The company continues its supply chain diversification, aiming to reduce overall supply from China to 30% to 40% by the end of 2025, and maintains a strong balance sheet with $654 million in total liquidity and a 0.92 times net leverage ratio to support strategic growth and M&A.

Oct 28, 2025, 12:00 PM

Transcript

Dorman Products, Inc. Announces Strong Q3 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Dorman Products, Inc. reported Net Sales of $544 million for Q3 2025, an increase of 7.9% over Q3 2024.
Adjusted Diluted EPS rose 34% to $2.62, and Adjusted Operating Margin improved by 340bps to 20.5% in Q3 2025, primarily driven by tariff-related pricing initiatives and supplier diversification.
Operating cash flow for the quarter was $12 million, influenced by higher-cost inventory due to tariffs.
The company reaffirmed its 2025 guidance, projecting Adjusted Diluted EPS to be between $8.60 and $8.90.

Oct 28, 2025, 12:00 PM

Presentation

Dorman Products, Inc. Reports Third Quarter 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Dorman Products, Inc. announced net sales of $543.7 million for the third quarter of 2025, representing a 7.9% increase compared to the prior year period.
For Q3 2025, diluted earnings per share (EPS) grew 38% to $2.48, and adjusted diluted EPS increased 34% to $2.62.
The company reaffirmed its full-year 2025 guidance, projecting net sales growth of 7% to 9% and diluted EPS in the range of $8.05 to $8.35.

Oct 27, 2025, 8:04 PM

8-K

Dorman Products Announces Strong Third Quarter 2025 Results and Reaffirms Full-Year Guidance

DORM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Dorman Products reported net sales of $543.7 million for the third quarter ended September 27, 2025, marking a 7.9% increase year-over-year.
For Q3 2025, diluted earnings per share (EPS) grew 38% to $2.48, and adjusted diluted EPS increased 34% to $2.62.
Gross profit for the quarter was $241.4 million, representing 44.4% of net sales.
The company reaffirmed its full-year 2025 guidance, expecting net sales growth of 7% to 9% and diluted EPS in the range of $8.05 to $8.35.

Oct 27, 2025, 8:01 PM

Press Release

Dorman Products Reports Strong Q2 2025 Results and Raises Full-Year Guidance

DORM

Earnings

Guidance Update

Revenue Acceleration/Inflection

Dorman Products reported strong Q2 2025 results, with consolidated net sales increasing 8% year-over-year to $541 million and adjusted diluted EPS growing 23% to $2.06.
The company raised its full-year 2025 guidance, now projecting net sales growth of 7% to 9% (up from 3% to 5%) and adjusted diluted EPS between $8.6 and $8.9 (up from $7.55 to $7.85).
The Light Duty business was a primary driver of top-line growth and margin expansion, with net sales increasing 10% year-over-year due to strong customer demand and positive macro trends.
Operating cash flow in Q2 2025 was $9 million, impacted by higher tariff costs and investments in inventory; the company is implementing price increases in Q3 2025 to mitigate tariffs, with the cost of goods sold impact expected in Q4 2025 due to FIFO accounting.

Aug 5, 2025, 2:05 PM

Dorman Products Inc. Announces CFO Retirement

DORM

CFO Change

Management Change

David M. Hession, the Senior Vice President and Chief Financial Officer, announced his planned retirement later this year, with his departure expected to occur after a successor is appointed.
The company has engaged an executive search firm to identify a replacement, and Hession will remain in his role and serve in an advisory capacity during the transition.

Jun 5, 2025, 12:00 AM

8-K

Filings & Transcripts

View All Documents

Recent SEC filings and earnings call transcripts for DORM.

No recent filings or transcripts found for DORM.