DORMAN PRODUCTS, INC.

(DORM)
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Real-time Estimate Cboe BZX  -  12:02 2022-08-18 pm EDT
108.28 USD   +1.75%
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08:19aDORMAN PRODUCTS, INC. : Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
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Dorman Announces Over 500 New Products for June, Including More Than 100 Aftermarket-Exclusive Automotive Repair Solutions

06/10/2022 | 09:48am EDT
  • Aftermarket-first Dorman® OE FIX™ upgraded aluminum engine oil filter housing with oil cooler and filter, featuring a housing manufactured in the USA from durable aluminum that replaces the plastic original equipment part on millions of Jeep, Ram, Dodge, Chrysler, and Volkswagen vehicles
  • An OE FIX turbocharger coolant line kit, one of the latest additions to Dorman’s expanded line of turbo components and accessories
  • Line extensions in many high-demand replacement part categories, including integrated door lock actuators, windshield wiper assemblies, and transmission oil cooler lines
  • Significant expansion in light- and medium-duty leaf springs, reinforcing Dorman’s commitment to rapidly increase offerings in suspension leaf springs for passenger and commercial vehicles in 2022 and beyond

COLMAR, Pa., June 10, 2022 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (NASDAQ:DORM) is announcing today the release of more than 500 new auto parts, including more than 100 new-to-the-aftermarket parts that advance the company’s mission of giving repair professionals and vehicle owners greater freedom to fix a wide range of cars and trucks, offering aftermarket choices for common failures on millions of vehicles. This month’s first-to-aftermarket releases also includes two new Dorman® OE FIX™ solutions featuring upgraded designs that increase reliability.

This month’s new solutions include an upgraded aluminum engine oil filter housing with oil cooler and filter (926-959) designed to replace an original housing known to have a high failure rate on over 9.4 million Jeep, Ram, Dodge, Chrysler, and Volkswagen vehicles equipped with Pentastar V6 engines. The factory oil filter adapter may leak oil when its plastic housing warps from harsh underhood conditions. As the plastic degrades from heat and chemical exposure, cracks can form, even from simply tightening the oil filter cap during oil changes. Just replacing a failed original housing with the factory version risks the return of the same deterioration and leaking.

The new Dorman OE FIX housing is designed as a more permanent solution and is crafted entirely of aluminum to help prevent the material degradation and warping that causes the original design to fail. It bolts to the engine like the plastic original but maintains its dimensional stability to help ensure much greater durability and leak-free, reliable service.

This new product follows last year’s highly successful introduction of a Dorman OE FIX upgraded aluminum engine oil filter housing (926-876), which addresses the tendency of the original equipment design to degrade, warp and fail. For customers who want to replace the housing and related components, this new solution includes the upgraded housing along with an oil cooler, oil filter and cap, premium gaskets specifically designed for this improved housing, and all the hardware required to make a complete repair.

Dorman’s Ideation Team received hundreds of requests from professional technicians all around the country for these robust replacement solutions. Engineered and precision-manufactured in Pennsylvania, the upgraded housings are the latest result of Dorman’s substantial and continuous investment in automotive aftermarket product research, development, and tooling.

Dorman offers the largest selection of direct replacements for failure-prone factory turbocharger accessories in the aftermarket, with over 500 repair solutions including cartridges, boost solenoids, exhaust clamps and more, empowering technicians to perform a comprehensive list of services and repairs. Reinforcing that aftermarket-leading position, a new OE FIX turbo coolant line kit (926-187) is being introduced this month that includes everything needed to service turbocharger coolant lines. The original equipment coolant line on millions of Ford Transit, F-150, and Lincoln vehicles equipped with 3.5L V6 engines often rusts and leaks at the junction point where it meets the quick disconnect fittings. The resulting coolant loss can lead to engine damage and replacing it with an OEM coolant line could mean the same costly issue in the future. The components in this new kit are engineered to match the fit and function of the original equipment, including corrosion-resistant stainless steel supply and return lines, connectors, and a turbo mounting gasket for a thorough repair.

Other highlights from this month’s new product announcement include:

  • 22 aftermarket-exclusive suspension leaf springs for a wide range of Chevrolet, Ford, Dodge, Toyota, Jeep, and Nissan vehicles, extending Dorman’s coverage in light-, medium-, and heavy-duty leaf springs and part of a rapid expansion in this part category
  • 11 new door lock actuators, including two aftermarket-exclusive actuators designed to fit more than 7.3 million GM cars, trucks, and SUVs (937-925 and 937-927).
  • 5 windshield wiper and motor assemblies designed to replace original equipment wiper assemblies on more than 4 million popular GM, Ford, and Toyota vehicles.
  • 3 aftermarket-exclusive transmission oil cooler lines engineered to replace the original equipment lines on Ram, Dodge, and Chrysler vehicles, extending aftermarket-leading coverage in this part category that already includes over 400 products in the Dorman catalog.

These are just a few of Dorman’s 500+ featured new product releases this month. To sign up to receive all of Dorman’s new product announcements directly every month, visit DormanProducts.com/signup. To learn more about Dorman, take the Dorman Virtual Tour at DormanProducts.com/tour.

Note: Vehicle-in-Operation (VIO) information in this press release is based on Dorman’s analysis of third-party reports.

Contacts

About Dorman Products

Dorman gives repair professionals and vehicle owners greater freedom to fix cars and trucks. For over 100 years, we have been driving new solutions for the automotive aftermarket, releasing tens of thousands of replacement products engineered to save time and money, and increase convenience and reliability.

Founded and headquartered in the United States, we are a pioneering global organization offering an always-evolving catalog of parts, covering both light duty and heavy-duty vehicles, from chassis to body, from underhood to undercar, and from hardware to complex electronics. See our full offering and learn more at DormanProducts.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties, and other factors (many of which are outside of our control) which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. For additional information concerning factors that could cause actual results to differ materially from the information contained in this press release, please see Dorman’s prior press releases and filings with the U.S. Securities and Exchange Commission (“SEC”), including Dorman’s most recent annual report on Form 10-K and its subsequent SEC filings. Dorman is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.


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Financials (USD)
Sales 2022 1 639 M - -
Net income 2022 151 M - -
Net Debt 2022 - - -
P/E ratio 2022 22,1x
Yield 2022 -
Capitalization 3 345 M 3 345 M -
Capi. / Sales 2022 2,04x
Capi. / Sales 2023 1,92x
Nbr of Employees 3 360
Free-Float 83,0%
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Number of Analysts 4
Last Close Price 106,42 $
Average target price 112,75 $
Spread / Average Target 5,95%
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Managers and Directors
Kevin M. Olsen President, Chief Executive Officer & Director
David M. Hession Chief Financial Officer, Treasurer & Senior VP
Steven L. Berman Executive Chairman
John McKnight Senior Vice President-Global Operations
Donna Long Chief Investment Officer & Senior Vice President
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