DORM
Dorman Products, Inc.126.72
-1.20-0.94%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Customer destock dragged Q4; guide firm
Q&A pinpointed a large light-duty customer's 40% Q4 order plunge from DC consolidation as the volume culprit, with Q1 ripples fading by Q2 to unlock 7%-9% sales growth via mid-single POS, pricing wrap, and new-product momentum. POS tracked mid-single in Q4, flat January, ticking up February. Margins take Q1 tariff-inventory hit but surge H2 on FIFO unwind, supplier shifts, DC automation. M&A should quicken post-tariff chaos; heavy-duty blends share grabs, fresh SKUs. Q4 volume dipped on destock. Management stayed bullish through trade haze; watch order flows, complex electronics ramp.
Key Stats
Market Cap
3.87BP/E (TTM)
15.78Basic EPS (TTM)
8.03Dividend Yield
0%Recent Filings
10-K
FY2025 results
Dorman Products grew net sales 6% to $2.13B in FY2025 ended December 31, 2025, with Light Duty up 8.1% on tariff pricing and new products, while Heavy Duty edged 0.5% higher yet took a $56.7M goodwill hit from trucking woes, and Specialty dipped 3%. Gross margins leaped 200bps to 42.1% via tariff timing and productivity, driving net income up 7% to $204.2M despite Q4 Heavy Duty pressures. Q4 repurchases tallied 200K shares at ~$128; $440.6M term debt remains at 5.07%, revolver wide open. Cash from ops fell to $113.6M on inventory builds. Customer concentration risks loom large.
8-K
Q4 EPS tanks on impairment
Dorman Products posted Q4 net sales of $537.9M, up 0.8%, but diluted EPS plunged 79% to $0.38 after a $56.7M Heavy Duty goodwill impairment. Full-year sales hit $2.13B, up 6%, with adjusted EPS soaring 24% to $8.87. Guidance calls for 7-9% sales growth in 2026, adjusted EPS $8.10-$8.50. Impairment flags Heavy Duty risks.
8-K
CFO transition announced
Dorman Products appointed Charles W. Rayfield as SVP, CFO Designate, and Treasurer on January 19, 2026, with full CFO role post-2025 10-K filing; he succeeds retiring David M. Hession, who transitions to advisor through March 2027 at $50,000 salary. Rayfield's package includes $525,000 base, 75% target bonus, $350,000 sign-on, and $500,000-$600,000 equity. Leadership shakeup aims to accelerate growth.
10-Q
Q3 FY2025 results
Dorman Products posted solid Q3 results ended September 27, 2025, with net sales up 7.9% y/y to $543.7M on tariff pricing and Light Duty gains (79% of sales), while gross margin leaped 390bps to 44.4% from favorable mix and pre-tariff inventory. Operating income climbed 33.4% y/y to $105.8M; diluted EPS rose 37.8% y/y to $2.48, reconciled to 30.8M shares. Cash from operations slowed YTD to $72M on inventory builds, yet debt fell to $455.4M (5.67% rate) with $598.9M revolver availability. Stock buybacks continue. Soft Heavy Duty demand lingers.
8-K
Q3 sales up 7.9%, EPS jumps 38%
Dorman Products reported third-quarter 2025 net sales of $543.7 million, up 7.9% from $503.8 million last year, with gross margins expanding to 44.4% from 40.5%. Diluted EPS surged 38% to $2.48, driven by strong Light Duty segment growth of 9% and 470 basis points margin improvement, while Specialty Vehicle dipped slightly. The company reaffirms full-year guidance of 7-9% sales growth and $8.05-$8.35 diluted EPS. Tariffs pose a key risk to outlook.
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