Dorman Products, Inc. 10-Q10-Q

Financial Statements (unaudited)

ITEM 1. Financial Statements DORMAN PRODUCTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Six Months Ended (in thousands, except per share data) June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025 Net sales $ 544,598 $ 540,959 $ 1,073,368 $ 1,048,651 Cost of goods sold 293,373 321,446 631,988 621,430 Gross profit 251,225 219,513 441,380 427,221 Selling, general, and administrative expenses 135,008 137,032 266,380 264,666 Income from operations 116,217 82,481 175,000 162,555 Interest expense, net 6,311 7,182 12,118 14,540 Other income, net 5,577 1,544 8,823 2,905 Income before income taxes 115,483 76,843 171,705 150,920 Provision for income taxes 27,712 18,134 40,383 34,706 Net income $ 87,771 $ 58,709 $ 131,322 $ 116,214 Other comprehensive income: Change in foreign currency translation adjustment ( 220 ) 2,339 ( 618 ) 2,561 Comprehensive Income $ 87,551 $ 61,048 $ 130,704 $ 118,775 Earnings per share: Basic $ 2.94 $ 1.92 $ 4.37 $ 3.80 Diluted $ 2.93 $ 1.91 $ 4.35 $ 3.78 Weighted average shares outstanding: Basic 29,864 30,518 30,041 30,547 Diluted 29,995 30,680 30,205 30,744 See accompanying Notes to Condensed Consolidated Financial Statements 3 Table of Contents DORMAN PRODUCTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED ) (in thousands, except for share data) June 27, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 131,982 $ 49,436 Accounts receivable, less allowance for doubtful accounts of $ 2,029 and $ 1,948 554,110 479,252 Inventories 808,020 959,019 Prepaids and other current assets 59,144 33,819 Total current assets 1,553,256 1,521,526 Property, plant, and equipment, net 166,768 168,777 Operating lease right-of-use assets 104,782 112,805 Goodwill 387,334 387,334 Intangible assets, net 246,434 257,079 Other assets 41,589 45,557 Total assets $ 2,500,163 $ 2,493,078 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 163,559 $ 185,125 Accrued compensation 23,155 30,756 Accrued customer rebates and returns 185,538 197,398 Current portion of long-term debt — 37,500 Other accrued liabilities 59,503 42,048 Total current liabilities 431,755 492,827 Long-term debt 440,479 402,413 Long-term operating lease liabilities 87,774 96,568 Deferred tax liabilities 3,794 3,977 Other long-term liabilities 21,321 20,218 Commitments and conti