Exhibit 99.1 Dorman Products, Inc. Reports Second Quarter 2024 Results; Raises Full Year 2024 Earnings Guidance Highlights (All comparisons are to the prior year period unless otherwise noted): • Net sales of $503.0 million, up 4.7% compared to $480.6 million • Diluted earnings per share ("EPS") of $1.53, up 47% compared to $1.04 • Adjusted diluted EPS* of $1.67, up 65% compared to $1.01 • Generated $63 million of cash from operating activities; repaid $15 million of debt and repurchased $25 million of its ...

COLMAR, Pa., July 23, 2024 (GLOBE NEWSWIRE) -- Dorman Products, Inc. ("Dorman") (NASDAQ:DORM) today announced the addition of Alexander S. Whitelam as Vice President, Investor Relations & Risk Management. Alex joins the Company after serving most recently as Head of Investor Relations at SEI Investments Company. Prior to SEI, he held investor relations and other finance-related positions of increasing responsibility at Chesapeake Utilities, AMETEK Inc., Essential Utilities, BNY Mellon, and Wells Fargo. Alex ...

Company Overview - Dorman Products, Inc. is a pioneering global organization headquartered in the United States, offering a diverse and evolving catalog of products for cars, trucks, and specialty vehicles, covering various components from chassis to body and from hardware to complex electronics [1]. Financial Reporting - Dorman Products will report its financial results for the second quarter ended June 29, 2024, after the closing of the Nasdaq Stock Market on August 1, 2024 [4]. - A conference call and webcast to discuss the second quarter 2024 financial results is scheduled for August 2, 2024, at 8 a.m. ET, accessible via a specific dial-in number and conference ID [6]. Company Mission - For over 100 years, Dorman has been providing solutions that enable professionals, enthusiasts, and vehicle owners to fix motor vehicles, releasing tens of thousands of aftermarket replacement products designed to save time and money while increasing convenience and reliability [5].

Noteworthy among the hundreds of releases are two Dorman® OE FIX™ repair solutions, adding to this flagship line of parts designed to save time, money and labor. More than 2,000 OE FIX products offer a level of performance and convenience that customers may not be able to obtain from a dealership. These innovative products include: Additional first-to-aftermarket highlights include: These are just a few of Dorman's recent new product releases, which include replacement components and assemblies for passenge ...

Adding to an expansive catalog of more than 122,000 SKUs, the July 2024 new product releases represent millions of new sales opportunities for automotive and heavy-duty parts distributors, retailers and repair shops, reinforcing Dorman's position as a premier go-to source for technicians and dedicated DIYers. These innovative products include: Additional first-to-aftermarket highlights include: These are just a few of Dorman's recent new product releases, which include replacement components and assemblies ...

The increasing age of vehicles is a boon for the Zacks Automotive Replacement Parts industry. However, the overall outlook of the industry remains subdued due to high raw material costs, unfavorable currency exchanges and logistical challenges that impact profit margins. Additionally, the shift toward electric and self-driving vehicles necessitates realignment of business models. To thrive, companies must develop comprehensive strategies to capitalize on evolving market trends while managing high operationa ...

Marketing: Steve Gisondi, Vice President of Marketing sgisondi@dormanproducts.com Investor Relations: David Hession, Senior Vice President, Chief Financial Officer dhession@dormanproducts.com About Dorman Products Dorman gives repair professionals, enthusiasts, and owners greater freedom to fix motor vehicles. For over one hundred years, we have been driving new repair solutions, releasing tens of thousands of aftermarket replacement products engineered to save time and money, and increase convenience and r ...

Core Insights - Dorman Products, Inc. has opened a new drive shaft manufacturing facility in Virginia Beach, VA, significantly expanding its production capacity in response to increased demand in the automotive drive shaft market [1][2] - The new facility spans 100,000 square feet, which is five times larger than the previous site, and is equipped with advanced technology for efficient production and shipping of drive shafts [2][3] - This expansion increases Dorman's USA-based manufacturing footprint to over one million square feet nationwide, highlighting the company's commitment to domestic manufacturing and job creation [5] Company Overview - Dorman Products specializes in providing aftermarket replacement products for motor vehicles, with a history of over 100 years in the industry [7][8] - The company offers a diverse catalog of products, including components for cars, trucks, and specialty vehicles, covering various aspects from chassis to electronics [8] Manufacturing Capabilities - The new plant features advanced computer-controlled machine tools, robotic welding, and testing equipment, enhancing Dorman's ability to produce high-quality drive shafts efficiently [3] - A dedicated area for custom packaging ensures that the balance achieved during testing is maintained during shipping, which is crucial for safety-critical components like drive shafts [4]

COLMAR, Pa., June 12, 2024 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (NASDAQ:DORM) is proud to announce the grand opening of a new drive shaft manufacturing facility in Virginia Beach, VA (USA). A ribbon cutting ceremony to celebrate the launch of the expansive factory at 464 Progress Lane is scheduled for Wednesday, June 12th. The facility joins existing Dorman sites in Reno, NV and Portland, TN that also design, manufacture and distribute the company's 3,600+ precision steel and aluminum driveshafts and r ...

Industry Insights - The average age of U.S. vehicles reached a record 12.6 years in 2024, marking a two-month increase from 2023 and the seventh consecutive year of rising vehicle age [1] - The aging vehicle population is driving increased demand for repairs and maintenance, creating opportunities for companies in the aftermarket and vehicle service industries [2] - Advancements in technology and the high cost of new vehicles, with an average selling price exceeding $45,000, are significant factors contributing to vehicle longevity [4][5] - The U.S. vehicle fleet reached 286 million vehicles in operation in January 2024, a 2 million increase from 2023, with a notable shift in age distribution due to supply chain disruptions [6][7] Company Highlights - **Rush Enterprises (RUSHA)**: A leading provider in the commercial vehicle industry, Rush has seen healthy growth in aftermarket demand, particularly in the public sector and waste management. The company has increased its payout seven times in the last five years, with an average annualized growth rate of 30.4% [8][9] - **Dorman Products (DORM)**: Dorman focuses on the motor vehicle aftermarket, consistently expanding its product line. The acquisition of Super ATV has enhanced its prospects, and the company maintains a manageable debt-to-capitalization ratio of 29% [10][11] - **Genuine Parts (GPC)**: GPC has strengthened its position through the acquisition of Motor Parts & Equipment Corporation and has improved supply chain efficiency. The company has a dividend-aristocratic status, approving a $4 per share annual dividend for 2024, marking its 68th consecutive annual increase [12][13]