Dorman Products, Inc. · NASDAQ:DORM
Dorman Products — Q2 2025 Earnings Presentation
18 slides from Dorman Products's earnings presentation, Aug 5, 2025
Slide 1: Dorman Products, Inc. Q2 2025 Earnings Presentation
'DORMAN PRODUCTS, INC. Q2 2025 EARNINGS PRESENTATION AUGUST 5, 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: Q2 2025 Highlights
Q2 2025 Highlights Net Sales of $541 million up 7.6% over Q2 2024 Adjusted Operating Margin of 16.3% 7Obps improvement over Q2 2024 Adjusted Diluted EPS of $2.06 a 23% increase over Q2 2024 Operating Cash Flow of $9 million, impacted by higher cost inventory as a result of tariffs Increased guidance
Slide 4: Observations
| Sesame Observations Positive macro trends continued through Q2’25, with vehicle miles traveled and average vehicle age increasing year-over-year New products, especially new-to- aftermarket and OE Fix® lines, driving growth Asset-light model and diversified supply chain create competitive advantag
Slide 5: Updated 2025 Guidance
Updated 2025 Guidance Net Sales change vs. previous year 3% - 5% 7% -9% Diluted EPS $7.00 - $7.30 $8.05 - $8.35 Change vs. previous year 14% -19% 31% - 36% Adjusted Diluted EPS $7.55 - $7.85 $8.60 - $8.90 Change vs. previous year 6% - 10% 21% - 25% Increasing guidance on strong performance through Q
Slide 6: Q2 2025 Performance Highlights
'Q2 2025 Performance Highlights 6 Q2-24 Q2-25 Strong volume growth drove top-line performance in the quarter Positive macro trends contributing to strong customer demand in Light Duty segment Innovation strategy driving new product growth across each business segment Note: Dollar amounts in millions
Slide 7: Light Duty Segment Quarterly Financials
Light Duty Segment Quarterly Financials —D as Strong customer demand drove volume growth in the quarter, on positive macro trends in the sector Higher mix of new products contributed to net sales and operating income growth 17.1% Shipments outpaced POS due to favorable timing of certain customer pro
Slide 8: Heavy Duty Segment Quarterly Financials
eavy Duty Segment Quarterly Financials Net Sales increased 1% year-over-year on new business wins Mixed market signals continued through Q2’25 with significant uncertainty remaining Lower volume through trucking and freight recession, along with long-term growth investments impacting current margin
Slide 9: Specialty Vehicle Segment Quarterly Financials
| Sysactieiy Vehicle Segment Quarterly Financials Softened consumer sentiment continued through Q2'25 impacting net sales growth UTV/ATV ridership activity and engagement remains strong Change in Operating Margin driven by volume deleverage | New product development, dealer expansion, and brand inve
Slide 10: Cash Flow
lerée Cash Flow Operating cash flow impacted by investments in inventory largely tied to higher tariff costs and additional customer demand, partially offset by higher earnings in the quarter Lower capital expenditures in the quarter due to timing Liquidity continues to be strong and long-term capit
Slide 11: Leverage & Liquidity
| Leverage & Liquidity Strong Balance Sheet and Liquidity Position Net Leverage Liquidity Revolving Credit Facility $0 Term Loan $463 Total Revolver Commitment $600 Less: Cash and Cash Equivalents ($57) Less: Revolver Draw Outstanding? ($1) Net Debt $406 Available Revolver Capacity $599 LTM Consolid
Slide 12: Q2 2025 Summary
lo2 2025 Summary Strong results in the quarter with Net Sales and Adjusted Diluted EPS growth exceeding expectations Increased guidance ranges on: * Performance through first half of the year * Improved outlook for remainder of 2025 * Timing dynamics of pricing and costs with tariffs Well-positioned
Slide 13: Appendix — Non-GAAP Reconciliations
' “Appendix — Non-GAAP Reconciliations
Slide 14: Reconciliation of Adjusted Gross Margin
[ Reconciliation of Adjusted Gross Margin 14 ($ in thousands) Gross profit (GAAP) Pretax acquisition-related transaction and other costs Adjusted gross profit (Non-GAAP) *Amounts may not add due to rounding Three Months Ended % of % of 6/28/25 Sales* 6/29/24 Sales* $219,513 40.6% $199,401 39.6% =- =
Slide 15: Reconciliation of Adjusted SG&A
[ Reconciliation of Adjusted SG&A 15 ($ in thousands) SG&A expenses (GAAP) Pretax acquisition-related intangible assets amortization Pretax acquisition-related transaction and other costs Pretax reduction in workforce costs Adjusted SG&A expenses (Non-GAAP) *Amounts may not add due to rounding Three
Slide 16: Reconciliation of Adjusted Operating Income
[ Reconciliation of Adjusted Operating Income 16 ($ in thousands) Income from operations (GAAP) Pretax acquisition-related intangible assets amortization Pretax acquisition-related transaction and other costs Pretax reduction in workforce costs Adjusted operating income (Non-GAAP) Net sales *Amounts
Slide 17: Reconciliation of Adjusted Diluted EPS
[ Reconciliation of Adjusted Diluted EPS 17 (in thousands, except per share amounts) Net income (GAAP) Pretax acquisition-related intangible assets amortization Pretax acquisition-related transaction and other costs Pretax reduction in workforce costs Tax adjustment (related to above items) Adjusted
Slide 18: Reconciliation of Adjusted Diluted EPS - Guidance
[ Reconciliation of Adjusted Diluted EPS - Guidance 18 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