Dorman Products, Inc. · NASDAQ:DORM
Dorman Products — Investor Presentation (October 2025)
33 slides from Dorman Products's investor presentation, October 2025
Slide 1: Dorman Products, Inc. Investor Presentation October 2025
Dorman Products, Inc. INVESTOR PRESENTATION OCTOBER 2025
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
| Forward-Looking Statements & Non-GAAP Financial Measures FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking
Slide 3: Dorman: What We Do
Dorman: What We Do We deliver product innovation to the aftermarket and develop new repair solutions. DESIGN MANUFACTURE DISTRIBUTE 11% 9% 2. < $2.01 $2.01 Billion Billion Light Duty Specialty Vehicle Retail Direct to Consumer Hl Heavy Duty Hl Wholesale Distributor Other
Slide 4: Dorman: How We Do It
Dorman: How We Do It We promote and reward inquisitiveness, courage and the pursuit of new ideas We are diligent in our efforts to understand our customers’ needs and provide high quality products and services We provide our employees, who we call “contributors”, the tools and resources necessary fo
Slide 5: Dorman: By the Numbers — 2024 Results
| Dorman: By the Numbers — 2024 Results Cae $2.018 16.1% $7.13 1.12x Net Adj. Operating Adj. Diluted Leverage Sales Income Margint Earnings Per Share? Ratio* +4.1% YoY +40O0bps YoY +57% YoY 138,000 410+ 400+ 81% Distinct Product Global Branded Products SKUs Categories Suppliers Net Sales “DORMAN.
Slide 6: Designing and developing innovative solutions for the Aftermarket
Designing and Large Total Positioned to succeed Global engineering, Strong financial developing innovative Addressable Market as new technologies supply chain, and profile with above solutions for the across each and vehicle platforms manufacturing industry growth and Aftermarket segment evolve and
Slide 7: Rapid Innovation at Scale
Rapid Innovation at Scale Key Differentia ng Competitive Advantages INNOVATION TECHNICAL MANUFACTURING CHANNEL ENGINE CAPABILITIES & SUPPLY CHAIN PENETRATION + Customer and end-user + Design and produce solutions + Nimble, asset-light model + Deep, strategic relationships relationships drive new-to-
Slide 8: Large Total Addressable Market
Large Total Addressable Market
Slide 9: Three Distinct, Growing Segments
I Three Distinct, Growing Segments 3-yr Sector Growth: ~4% New products drive sales growth and margin expansion Invest in high margin IP-centric categories Broad distribution to meet customers in all commercial channels Optimize operating performance Continue to reconfigure supply chain for resilien
Slide 10: Bumper-to-Bumper Coverage and Capability
Bumper-to-Bumper Coverage and Capability Undercar Drivetrain, brake solutions, drive shafts, wheels, fuel systems Hardware & Accessories Small parts, hardware, tools, components, accessories Steering & Suspension Solutions for frames, steering, suspension Body Solutions for windows, doors, mirrors,
Slide 11: Emerging Technologies Shaping the Future
[Emerging Technologies Shaping the Future Powertrain Agnostic: Multi-Platform Approach Accelerating Growth Opportunity Internal Combustion Engine (ICE) =y * Expected to remain ~90% of VIO through 2035* +6,000 SKUs Hybrid / Ev Body & Suspension Application Components +2,500 SKUs ICE / Hybrid / EV Com
Slide 12: Complex Electronics
| Complex Electronics Failure Identification & Assessment » Robust network of technical intel Testing & Datalogging * Specialized process and infrastructure 1010 Proprietary Code Development 1010 * Technical data analysis competency ELECTRONIC CENTER OF EXCELLENCE 2 Software Design & Validation Ue)
Slide 13: Global Product Manufacturing
Global Product Manufacturing + + + State-of-the-art High-quality, Strategically Vertically development efficient, located domestic integrated and testing and scalable and international warehousing capabilities production manufacturing and distribution * Validation of high-quality standards across fa
Slide 14: Historical Financial Performance
| Historical Financial Performance Topline Annualized Growth of 15% Since 2019 -Non-discretionary parts focus performs well in difficult economies *End-market diversification mitigates economic cyclicality » Broad global supply chain network provides resiliency Net Sales! & Adjusted Diluted EPS+ $2,
Slide 15: Multiple Levers to Drive Growth
| Multiple Levers to Drive Growth Future Technology Drive above-market growth across three segments Support customers’ expansion into new geographies and product categories Significant annual R&D investment Expanding new technologies Investments in electronics and alternative powertrain development
Slide 16: Business Segments
7 Business Segments
Slide 17: Light Duty Segment Overview
Light Duty Segment Overview Strategic Supplier to Aftermarket Retail Interior Lighting 245+ Product Categories Seat Cortrl Infotainment ~10,000 New SkUs Launched in 2022-2024 a 17 Domestic Facilities Parking Front View Camera System 3 International Facilities secure Gatovay Battery Management Net Sa
Slide 18: Light Duty: growth and margin commentary
• Net Sales growth outpaced the sector growth rate over same period • Target organic growth of roughly 2x automobile aftermarket industry rate • Introduced hundreds of new products to the aftermarket every month • FY22 and FY23 SG&A impacted by interest rate changes on factoring costs • Pricing init
Slide 19: Heavy Duty Segment Overview
| Heavy Duty Segment Overview 1OO-+ Product Categories ENGINE COMPLEX ELECTRONICS CAB & BODY 90%/10% net Sales Below / Above Frame ra 2,350-+ New SKUs Launched in 2022-2024 8 Domestic Facilities 4 International Facilities yaa Net Sales by Channel 2.8% . DRIVETRAIN 506 Operating Margin COLLISION BHAK
Slide 20: Heavy Duty: acquisition, market and margin commentary
• Acquired Dayton Parts in August 2021 and combined with legacy Dorman heavy duty business to form the Heavy Duty segment • Challenging market in 2023/24 due to freight recession and soft trucking capacity demand following very strong 2022 post-COVID • Margins impacted by high-cost inventory due to
Slide 21: Specialty Vehicle Segment Overview
| Specialty Vehicle Segment Overview 95- Product Categories 55% /45% Net Sales DTC/Dealer Channels 4500+ New SkUs Launched in 2022-2024* 4 Domestic Facilities 1 International Facility Net Sales by Channel 15.2% Operating Margin 45% 55% 1 Direct to Consumer Hl other Product Categories Cabs, Roofs, A.
Slide 22: Specialty Vehicle: SuperATV acquisition and growth
• SuperATV was acquired in October 2022 • Integration completed • 2023 represents first full year of operations • Approximately half of net sales are non-discretionary (including repair parts and utility accessories) • Introduction of parts for new machines and a focus on non-discretionary parts con
Slide 23: Consolidated Financial Overview
- Consolidated Financial Overview
Slide 24: Historical Financial Performance
$991 $1,093 [Historical Financial Performance $1,930 $2,009 $1,715 $1,345 2020 2021 2022 2023 2024 For fiscal 2024, surpassed $2B mark in total net sales Sales growth driven by strong customer demand New products drove success across each business segment 2019 2020 2021 2022 2023 2024 Adj.01% Ml Adj
Slide 25: Leverage & Liquidity
| Leverage & Liquidity Strong Balance Sheet and Liquidity Position Net Leverage Liquidity Revolving Credit Facility $0 Term Loan $456 Total Revolver Commitment $600 Less: Cash and Cash Equivalents ($56) Less: Revolver Draw Outstanding? ($1) Net Debt $401 Available Revolver Capacity $599 LTM Consolid
Slide 26: Capital Allocation Strategy
| Capital Allocation Strategy 2019-2024 Capital Deployment Long-Term Priorities Target Leverage + Target 2.0x leverage, 3.0x in first year following an acquisition Reinvestment - Continue to fund R&D and Capital Expenditures to enhance our existing product portfolio $1.73 tip Billion Mergers & Acqui
Slide 27: 2025 Guidance Reaffirmed
2025 Guidance Reaffirmed Net Sales change vs. previous year Diluted EPS Change vs. previous year Adjusted Diluted EPS Change vs. previous year 7% - 9% $8.05 - $8.35 31% - 36% $8.60 - $8.90 21% - 25% Guidance excludes any potential impact from future acquisitions and divestitures, supply chain disrup
Slide 28: Appendix: Non-GAAP Reconciliations
Appendix NON-GAAP RECONCILIATIONS
Slide 29: 2022 53rd Week Adjusted Reconciliation
Twelve Months Ended December 31 2022 53rd Week 2022 Adjusted $ in thousands, except EPS Net Sales Light Duty $ 1,425,892 $ (16,834) $ 1,409,058 Heavy Duty 258,215 (2,365) 255,850 Specialty Vehicle 49,642 —' 49,642 Consolidated $ 1,733,749 $ (19,199) $ 1,714,550 Adjusted Operating Income Light Duty $
Slide 30: Adjusted Diluted EPS Reconciliation
Twelve Months Ended 12/28/19* 12/26/20* 12/25/21* 12/31/22* 12/31/23* 12/31/24* Diluted earnings per share (GAAP) $ 2.56 $ 3.30 $ 4.12 $ 3.85 $ 4.10 $ 6.14 Pretax acquisition-related intangible assets amortization 0.08 0.10 0.20 0.45 0.69 0.73 Pretax acquisition-related transaction and other costs 0
Slide 31: Adjusted Operating Income Reconciliation
Twelve Months Ended % of % of % of % of % of % of 12/28/19 12/26/20 12/25/21 12/31/22 12/31/23 12/31/24 ($ in thousands) Sales* Sales* Sales* Sales* Sales* Sales* Income from operations (GAAP) $ 105,828 10.7% $ 133,373 12.2% $ 171,551 12.8% $ 171,048 9.9% $ 214,760 11.1% $ 292,909 14.6% Pretax acqui
Slide 32: Adjusted Net Income and EBITDA Reconciliation
Twelve Months Ended ($ in thousands) 12/25/21 12/31/24 Net income (GAAP) $ 131,532 $ 190,004 Pretax acquisition-related intangible assets amortization 6,340 22,476 Pretax acquisition-related transaction and other costs 15,072 2,621 Pretax reduction in workforce costs —' 4,973 Discrete tax adjustment
Slide 33: Reconciliation of Adjusted Diluted EPS - Guidance
[ Reconciliation of Adjusted Diluted EPS - Guidance 33 Diluted earnings per share (GAAP) Pretax acquisition-related intangible assets amortization Pretax acquisition transaction and other costs Tax adjustment (related to above items) Adjusted diluted earnings per share (Non-GAAP) Weighted average di
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