Highlights (All comparisons are to the prior year period unless otherwise noted):

  • Net sales of $561.7 million for the quarter, up 3.3%
  • Diluted earnings per share (“EPS”) of $1.98, down 20%
  • Adjusted diluted EPS* of $2.08, down 21%
  • Generated $64.6 million of cash from operating activities; repurchased $15 million of shares
  • Updates its full-year guidance for 2026

COLMAR, Pa., Oct. 26, 2026 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (the “Company” or “Dorman”) (NASDAQ: DORM), a leading supplier in the motor vehicle aftermarket industry, today announced its financial results for the third quarter ended September 26, 2026.

Kevin Olsen, Dorman’s Chairman, President, and Chief Executive Officer, stated, “We delivered solid performance in the quarter. Net sales increased 3%, with top-line growth across each of our three business segments driven by new products and business wins. Diluted EPS was $1.98, and adjusted diluted EPS was $2.08, compared to $2.48 and $2.62, respectively, in the prior-year period. The year-over-year earnings comparison reflects the timing of tariff-related pricing that benefitted the third quarter of 2025. We also generated $65 million of operating cash flow and repurchased $15 million of our common stock in the quarter, bringing year-to-date share repurchases to a company record of $112 million.

“Given our performance through the first nine months of the year and additional pricing actions we expect to take in the fourth quarter, we are narrowing our full-year 2026 guidance. We now expect full-year net sales growth to be in the range of 2% to 3%, diluted EPS in the range of $7.95 to $8.15, and adjusted diluted EPS in the range of $8.50 to $8.70.

“Supported by our strong balance sheet and liquidity position, and the strategic advantages of our innovation engine and diversified supplier network, we remain confident in our long-term growth strategy.”

Third Quarter Financial Results
The Company reported third quarter 2026 net sales of $561.7 million, up 3.3% from net sales of $543.7 million in the third quarter of 2025.

Gross profit was $221.6 million in the third quarter of 2026, or 39.4% of net sales, compared to $241.4 million, or 44.4% of net sales, in the same quarter last year. Adjusted gross profit* was $221.2 million, or 39.4% of net sales, in the third quarter of 2026, compared to $241.4 million, or 44.4% of net sales, in the same quarter last year.

Selling, general, and administrative (“SG&A”) expenses were $138.7 million, or 24.7% of net sales, in the third quarter of 2026, compared to $135.7 million, or 25.0% of net sales, in the same quarter last year. Adjusted SG&A expenses* were $132.4 million, or 23.6% of net sales, in the third quarter of 2026, compared to $129.9 million, or 23.9% of net sales, in the same quarter last year.

Diluted EPS was $1.98 in the third quarter of 2026, down 20% from diluted EPS of $2.48 in the same quarter last year. Adjusted diluted EPS* was $2.08 in the third quarter of 2026, down 21% compared to adjusted diluted EPS* of $2.62 in the same quarter last year.

Segment results were as follows:

 Net Sales Segment Profit Margin
($ in millions)Q3 2026
 Q3 2025
 Change Q3 2026 Q3 2025 Change
Light Duty$443.7  $430.3  3% 18.5% 23.7% -520 bps
Heavy Duty$66.1  $63.0  5% 0.0% 4.5% -450 bps
Specialty Vehicle$51.9  $50.4  3% 13.1% 12.8% 30 bps
                   

2026 Guidance
The Company updates its full-year 2026 guidance as detailed in the table below. The Company's guidance includes the expected impact of tariffs enacted as of October 26, 2026. The Company’s guidance excludes the impact of potential tariff changes after October 26, 2026, future acquisitions and divestitures, and additional share repurchases.

 Updated 2026 GuidancePrior 2026 Guidance
Net Sales Growth vs. 20252% – 3%3% – 5%
Diluted EPS$7.95 – $8.15$7.93 – $8.23
Growth vs. 202520% – 23%19% – 24%
Adjusted Diluted EPS*$8.50 – $8.70$8.50 – $8.80
Growth vs. 2025(4)% – (2)%(4)% – (1)%
Tax Rate Estimate23.5% – 24.0%23.5%
   

Conference Call and Webcast
The Company will hold a conference call and webcast for investors on Tuesday, October 27, 2026, beginning at 8:00 a.m. Eastern Time. The conference call can be accessed by telephone at (800) 420-1459 within the U.S. or +1 (203) 518-9861 outside the U.S. When prompted, enter the conference ID “DORMQ326”. A live audio webcast and accompanying presentation materials can be accessed on the Company’s website at investors.dormanproducts.com. A replay of the webcast will be made available on the website shortly after the conclusion of the call.

About Dorman Products
Dorman gives professionals, enthusiasts, and owners greater freedom to fix motor vehicles. For over 100 years, we have been driving new solutions, releasing tens of thousands of aftermarket 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 products covering cars, trucks, and specialty vehicles, from chassis to body, from underhood to undercarriage, and from hardware to complex electronics.

*Non-GAAP Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains Non-GAAP financial measures. The supplemental schedules attached include the reasons we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these Non-GAAP measures.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “probably,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “views,” “estimates,” and similar expressions are used to identify these forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date such statements were made. Such forward-looking statements are based on current expectations that involve known and unknown risks, uncertainties, and other factors (many of which are outside of our control). Such risks, uncertainties and other factors relate to, among other things: competition in and the evolution of the motor vehicle aftermarket industry; changes in our relationships with, or the loss of, any customers or suppliers; our ability to develop, market and sell new and existing products; our ability to anticipate and meet customer demand; our ability to purchase necessary materials from our suppliers and the impacts of any related logistics constraints; widespread public health pandemics; political and regulatory matters, such as changes in trade policy, the imposition of tariffs and climate regulation; our ability to protect our information security systems and defend against cyberattacks; our ability to protect our intellectual property and defend against any claims of infringement; and financial and economic factors, such as our level of indebtedness, fluctuations in interest rates and inflation. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company is under no obligation to, and expressly disclaims any such obligation to, update any of the information in this document, including but not limited to any situation where any forward-looking statement later turns out to be inaccurate, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

Investor Relations Contact
Alex Whitelam, VP, Investor Relations
awhitelam@dormanproducts.com
(445) 448-9522

Visit our Investor Relations website at investors.dormanproducts.com, which contains important Company information, including financial data and investor materials. Dorman encourages investors to visit its website periodically to view new and updated information.

 
DORMAN PRODUCTS, INC.
Consolidated Statements of Operations
(in thousands, except per-share amounts)
      
 Three Months Ended
 Three Months Ended
(unaudited)9/26/26
 Pct.*
 9/27/25
 Pct. *
Net sales$561,722  100.0  $543,736  100.0 
Cost of goods sold 340,124  60.6   302,309  55.6 
Gross profit 221,598  39.4   241,427  44.4 
Selling, general, and administrative expenses 138,660  24.7   135,677  25.0 
Income from operations 82,938  14.8   105,750  19.4 
Interest expense 8,016  1.4   7,235  1.3 
Interest income 776  0.1   28  0.0 
Other income, net 1,652  0.3   1,385  0.3 
Income before income taxes 77,350  13.8   99,928  18.4 
Provision for income taxes 18,175  3.2   23,508  4.3 
Net income$59,175  10.5  $76,420  14.1 
            
Diluted earnings per share$1.98     $2.48    
            
Weighted average diluted shares outstanding 29,860      30,782    
            
 Nine Months Ended
 Nine Months Ended
(unaudited)9/26/26 Pct.* 9/27/25 Pct. *
Net sales$1,635,090  100.0  $1,592,387  100.0 
Cost of goods sold 972,112  59.5   923,739  58.0 
Gross profit 662,978  40.5   668,648  42.0 
Selling, general, and administrative expenses 405,040  24.8   400,343  25.1 
Income from operations 257,938  15.8   268,305  16.8 
Interest expense 20,685  1.3   21,862  1.4 
Interest income 1,327  0.1   115  0.0 
Other income, net 10,475  0.6   4,290  0.3 
Income before income taxes 249,055  15.2   250,848  15.8 
Provision for income taxes 58,558  3.6   58,214  3.7 
Net income$190,497  11.7  $192,634  12.1 
            
Diluted earnings per share$6.33     $6.26    
            
Weighted average diluted shares outstanding 30,088      30,757    

* Percentage of sales. Data may not add due to rounding.

 
DORMAN PRODUCTS, INC.
Consolidated Balance Sheets
(in thousands, except share data)
    
(unaudited)9/26/26 12/31/25
Assets   
Current assets:   
Cash and cash equivalents$167,005  $49,436 
Accounts receivable, less allowance for doubtful accounts of $1,993 and $1,948 628,402   479,252 
Inventories 787,358   959,019 
Prepaids and other current assets 40,661   33,819 
Total current assets 1,623,426   1,521,526 
Property, plant, and equipment, net 165,365   168,777 
Operating lease right-of-use assets 99,938   112,805 
Goodwill 387,334   387,334 
Intangible assets, net 241,367   257,079 
Other assets 41,414   45,557 
Total assets$2,558,844  $2,493,078 
Liabilities and shareholders’ equity   
Current liabilities:   
Accounts payable$180,169  $185,125 
Accrued compensation 26,182   30,756 
Accrued customer rebates and returns 182,560   197,398 
Current portion of long-term debt —   37,500 
Other accrued liabilities 55,659   42,048 
Total current liabilities 444,570   492,827 
Long-term debt 440,717   402,413 
Long-term operating lease liabilities 82,685   96,568 
Deferred tax liabilities 4,215   3,977 
Other long-term liabilities 21,709   20,218 
Commitments and contingencies   
Shareholders’ equity:   
Common stock, $0.01 par value; 50,000,000 shares authorized; 29,574,883 and 30,391,955 shares issued and outstanding in 2026 and 2025, respectively 296   304 
Additional paid-in capital 148,857   137,109 
Retained earnings 1,420,768   1,344,183 
Accumulated other comprehensive loss (4,973)  (4,521)
Total shareholders’ equity 1,564,948   1,477,075 
Total liabilities and shareholders' equity$2,558,844  $2,493,078 


Selected Cash Flow Information (unaudited):
    
 Three Months Ended
 Nine Months Ended
(in thousands)9/26/26
 9/27/25
 9/26/26
 9/27/25
Cash provided by operating activities$64,566  $12,205  $260,947  $71,990 
Depreciation and amortization$13,765  $14,036  $41,672  $41,798 
Capital expenditures$7,683  $10,383  $25,208  $29,818 
                


 
DORMAN PRODUCTS, INC.
Non-GAAP Financial Measures
(in thousands, except per-share amounts)
 

Our financial results include certain financial measures not derived in accordance with generally accepted accounting principles (GAAP). Non-GAAP financial measures should not be used as a substitute for GAAP measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows. Additionally, these non-GAAP measures may not be comparable to similarly titled measures reported by other companies. However, we have presented these non-GAAP financial measures because we believe this presentation, when reconciled to the corresponding GAAP measure, provides useful information to investors by offering additional ways of viewing our results, profitability trends, and underlying growth relative to prior and future periods and to our peers. Management uses these non-GAAP financial measures in making financial, operating, and planning decisions and in evaluating our performance. Non-GAAP financial measures may reflect adjustments for charges such as fair value adjustments, amortization, transaction costs, severance, accelerated depreciation, and other similar expenses related to acquisitions as well as other items that we believe are not related to our ongoing performance.

 
Adjusted Net Income:
    
 Three Months Ended  Nine Months Ended
(unaudited)9/26/26 9/27/25 9/26/26 9/27/25
Net income (GAAP)$59,175  $76,420  $190,497  $192,634 
Pretax acquisition-related intangible assets amortization [1] 5,069   5,442   15,416   16,319 
Pretax acquisition-related transaction and other costs [2] (55)  286   420   1,119 
Pretax facility consolidation costs [3] 826   —   826   — 
Pretax bargain purchase gain [4] (1,457)  —   (1,457)  — 
Pretax write-off of capitalized debt issuance costs [5] —   —   802   — 
Pretax reduction in workforce costs [6] —   —   —   147 
Tax adjustment (related to above items) [7] (1,393)  (1,391)  (4,147)  (4,268)
Adjusted net income (Non-GAAP)$62,165  $80,757  $202,357  $205,951 
        
Diluted earnings per share (GAAP)$1.98  $2.48  $6.33  $6.26 
Pretax acquisition-related intangible assets amortization [1] 0.17   0.18   0.51   0.53 
Pretax acquisition-related transaction and other costs [2] (0.00)  0.01   0.01   0.04 
Pretax facility consolidation costs [3] 0.03   —   0.03   — 
Pretax bargain purchase gain [4] (0.05)  —   (0.05)  — 
Pretax write-off of capitalized debt issuance costs [5] —   —   0.03   — 
Pretax reduction in workforce costs [6] —   —   —   0.00 
Tax adjustment (related to above items) [7] (0.05)  (0.05)  (0.14)  (0.14)
Adjusted diluted earnings per share (Non-GAAP)*$2.08  $2.62  $6.73  $6.70 
        
Weighted average diluted shares outstanding 29,860   30,782   30,088   30,757 

* Amounts may not add due to rounding.
See accompanying notes at the end of this supplemental schedule.

          
Adjusted Gross Profit:
         
 Three Months Ended Three Months Ended
(unaudited)9/26/26 Pct.** 9/27/25
 Pct.**
Gross profit (GAAP)$221,598  39.4  $241,427  44.4 
Pretax acquisition-related transaction and other costs [2] (408) (0.1)  —  — 
Adjusted gross profit (Non-GAAP)$221,190  39.4  $241,427  44.4 
          
Net sales$561,722    $543,736    
          
 Nine Months Ended Nine Months Ended
(unaudited)9/26/26 Pct.** 9/27/25
 Pct.**
Gross profit (GAAP)$662,978  40.5  $668,648  42.0 
Pretax acquisition-related transaction and other costs [2] (408) (0.0)  —  — 
Adjusted gross profit (Non-GAAP)$662,570  40.5  $668,648  42.0 
          
Net sales$1,635,090    $1,592,387    
             


        
Adjusted SG&A Expenses:       
 Three Months Ended  Three Months Ended
(unaudited)9/26/26 Pct.** 9/27/25 Pct.**
SG&A expenses (GAAP)$138,660  24.7  $135,677  25.0 
Pretax acquisition-related intangible assets amortization [1] (5,069) (0.9)  (5,442) (1.0)
Pretax acquisition-related transaction and other costs [2] (353) (0.1)  (286) (0.1)
Pretax facility consolidation costs [3] (826) (0.1)  —  — 
Adjusted SG&A expenses (Non-GAAP)$132,412  23.6  $129,949  23.9 
        
Net sales$561,722    $543,736   
        
 Nine Months Ended Nine Months Ended
(unaudited)9/26/26 Pct.** 9/27/25 Pct.**
SG&A expenses (GAAP)$405,040  24.8  $400,343  25.1 
Pretax acquisition-related intangible assets amortization [1] (15,416) (0.9)  (16,319) (1.0)
Pretax acquisition-related transaction and other costs [2] (828) (0.1)  (1,119) (0.1)
Pretax facility consolidation costs [3] (826) (0.1)  —  — 
Pretax reduction in workforce costs [6] —  —   (147) (0.0)
Adjusted SG&A expenses (Non-GAAP)$387,970  23.7  $382,758  24.0 
        
Net sales$1,635,090    $1,592,387   
            


Adjusted Other Income, Net:         
 Three Months Ended  Three Months Ended
(unaudited)9/26/26 Pct.** 9/27/25
 Pct.**
Other income, net (GAAP)$1,652  0.3  $1,385  0.3 
Pretax bargain purchase gain [4] (1,457) (0.3)  —  — 
Adjusted other income, net (Non-GAAP)$195  0.0  $1,385  0.3 
          
Net sales$561,722    $543,736    
          
 Nine Months Ended Nine Months Ended
(unaudited)9/26/26 Pct.** 9/27/25
 Pct.**
Other income, net (GAAP)$10,475  0.6  $4,290  0.3 
Pretax bargain purchase gain [4] (1,457) (0.1)  —  — 
Pretax write-off of capitalized debt issuance costs [5] 802  0.0   —  — 
Adjusted other income, net (Non-GAAP)$9,820  0.6  $4,290  0.3 
          
Net sales$1,635,090    $1,592,387    

* *Percentage of sales. Data may not add due to rounding.

[1] – Pretax acquisition-related intangible asset amortization results from allocating the purchase price of an acquisition to the acquired tangible and intangible assets of the acquired business and recognizing the cost of the intangible asset over the period of benefit. Such costs were $5.1 million pretax (or $3.9 million after tax) and $15.4 million pretax (or $11.8 million after tax) during the three and nine months ended September 26, 2026, respectively. Such costs were $5.4 million pretax (or $4.1 million after tax) and $16.3 million pretax (or $12.3 million after tax) during the three and nine months ended September 27, 2025, respectively.

[2] – Pretax acquisition-related transaction and other costs include costs incurred to complete and integrate acquisitions and inventory fair value adjustments. During the three and nine months ended September 26, 2026, we incurred benefits included in cost of goods sold for acquisition-related reserve releases, net of inventory fair value adjustments of $0.4 million pretax (or $0.3 million after tax). During the three and nine months ended September 26, 2026, we incurred charges included in selling, general, and administrative expenses to complete and integrate acquisitions of $0.4 million pretax (or $0.3 million after tax) and $0.8 million pretax (or $0.6 million after tax), respectively.

Pretax acquisition-related transaction and other costs include costs incurred to complete and integrate acquisitions included in selling, general, and administrative expenses totaled $0.3 million pretax (or $0.2 million after tax) and $1.1 million pretax (or $0.8 million after tax), during the three and nine months ended September 27, 2025, respectively.

[3] – Pretax facility consolidation expenses represent costs incurred in connection with our planned facility consolidations and relocations. During the three and nine months ended September 26, 2026, such costs were $0.8 million pretax (or $0.6 million after tax).

[4] – Pretax bargain purchase gain resulted from the excess fair value of assets acquired in a business combination over the purchase price and was $1.5 million pretax (or $1.5 million after tax) during the three and nine months ended September 26, 2026, and was included in other income, net.

[5] – Pretax write-off of capitalized debt issuance costs totaled $0.8 million (or $0.6 million after tax) during the nine months ended September 26, 2026. These write-offs are associated with retirement of our term loan debt and the modification of our revolving credit facility.

[6] – Pretax reduction in workforce costs represents costs incurred in connection with our planned workforce reduction, including insurance continuation costs. During the nine months ended September 27, 2025, the expenses were $0.1 million pretax (or $0.1 million after tax).

[7] – Tax adjustments represent the aggregate tax effect of all non-GAAP adjustments reflected in the table above and totaled $(1.4) million and $(4.1) million during the three and nine months ended September 26, 2026, respectively, and $(1.4) million and $(4.3) million during the three and nine months ended September 27, 2025, respectively. Such items are estimated by applying our statutory tax rate to the pretax amount, or an actual tax amount for discrete items.

2026 Guidance:

The Company updates the following guidance ranges related to its full year 2026 outlook:

 Year Ending 12/31/2026
(unaudited)Low End High End
Diluted earnings per share (GAAP)$7.95  $8.15 
Pretax acquisition-related intangible assets amortization 0.68   0.68 
Pretax acquisition-related transaction and other costs 0.04   0.04 
Pretax facility consolidation costs 0.03   0.03 
Pretax bargain purchase gain (0.05)  (0.05)
Pretax write-off of capitalized debt issuance costs 0.03   0.03 
Tax adjustment (related to above items) (0.18)  (0.18)
Adjusted diluted earnings per share (Non-GAAP)$8.50  $8.70 
    
Weighted average diluted shares outstanding 30,000   30,000