Motorcar Parts of America Reports Fiscal 2026 Year-End Results
Key Terms
ebitda financial
non-gaap financial
gaap financial
form 8-k regulatory
– Solid Fourth Quarter, Favorable Outlook;
Strong Brake-Related Product Sales Momentum within Changing Competitive Landscape –
Fourth Quarter Highlights:
-
Net sales increased 9.9 percent to
$212.3 million -
Gross profit increased 30.9 percent to
$50.4 million - Gross margin increased to 23.7 percent from 19.9 percent.
-
Operating income increased 29.4 percent to
$21.1 million -
Net income was
$9.7 million $722,000 -
Repurchased 286,136 shares for
$3.0 million $10.48
Positive Future Drivers:
- Awarded significant new business commitments and opportunities within a changing competitive landscape.
- Increasing utilization of brake-related capacity is expected to continue to support its margin accretion.
- Overall operating efficiencies are expected to result in continuing operating income improvement.
Three-Month Results
Net sales for the fiscal 2026 fourth quarter increased
Gross profit for the fiscal 2026 fourth quarter increased
Operating income for the fiscal fourth quarter was
Interest expense for the fiscal 2026 fourth quarter decreased by
Net income for the fiscal 2026 fourth quarter was
“Notwithstanding some head winds in fiscal 2026, including a large customer’s ordering activity, we ended the year with a strong quarter and with significant new business commitments and opportunities which will phase in throughout fiscal 2027,” said Selwyn Joffe, chairman, president and chief executive officer.
Joffe highlighted the company’s commitment to enhancing shareholder value. He reemphasized the company’s significant new business commitments and opportunities in
After share repurchases of
Twelve-Month Results
Net sales for fiscal 2026 increased
Gross profit for fiscal 2026 was
Operating income for fiscal 2026 was
Interest expense decreased by
Net income for fiscal 2026 was
Share Repurchase
For fiscal 2026, the company repurchased 955,608 shares for
The company anticipates further opportunities to build shareholder value through enhanced profitability and strong cash generation.
Fiscal 2027 Guidance
Motorcar Parts of America expects net sales for the fiscal year ending March 31, 2027 to increase between 7.5 percent to 10.2 percent year-over-year growth, reflecting the exclusion of certain non-recurring items including tariff pass-throughs due to the reduction of import tariffs, and non-recurring core revenue, representing net sales of between
Use of Non-GAAP Measure
This press release includes the following non-GAAP measure – EBITDA, which is not a measure of financial performance under GAAP and should not be considered as an alternative to net income as a measure of financial performance. The company believes this non-GAAP measure, when considered together with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to the company’s results of operations. However, this non-GAAP measure has significant limitations in that it does not reflect all the costs and other items associated with the operation of the company’s business as determined in accordance with GAAP. In addition, the company’s non-GAAP measures may be calculated differently and are therefore not comparable to similar measures by other companies. Therefore, investors should consider non-GAAP measures in addition to, and not as a substitute for, or superior to, measures of financial performance in accordance with GAAP. For a definition and reconciliation of EBITDA to net income, its corresponding GAAP measure, see the financial tables included in this press release. Also, refer to our Form 8-K to which this release is attached, and other filings we make with the SEC, for further information regarding this measure.
Earnings Conference Call and Webcast
Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call today at 10:00 a.m. Pacific time to discuss the company’s financial results and operations. The call will be open to all interested investors either through a live audio webcast at www.motorcarparts.com or live by calling (888) 440-5584 (domestic) or (646) 960-0457 (international). For those who are not available to listen to the live broadcast, the call will be archived on Motorcar Parts of America’s website www.motorcarparts.com. A telephone playback of the conference call will also be available from approximately 1:00 p.m. Pacific time on June 8, 2026 through 8:59 p.m. Pacific time on June 15, 2026 by calling (800) 770-2030 (domestic) or (609) 800-9909 (toll) and using access code: 1545314.
About Motorcar Parts of America, Inc.
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts – including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2026 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES Consolidated Statements of Operations |
||||||||||||||||
| Three Months Ended March 31, | Year Ended March 31, | |||||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
| Net sales | $ |
212,275,000 |
|
$ |
193,105,000 |
|
$ |
789,806,000 |
|
$ |
757,354,000 |
|
||||
| Cost of goods sold |
|
161,896,000 |
|
|
154,610,000 |
|
|
629,905,000 |
|
|
603,526,000 |
|
||||
| Gross profit |
|
50,379,000 |
|
|
38,495,000 |
|
|
159,901,000 |
|
|
153,828,000 |
|
||||
| Operating expenses: | ||||||||||||||||
| General and administrative |
|
18,209,000 |
|
|
16,113,000 |
|
|
63,303,000 |
|
|
64,047,000 |
|
||||
| Sales and marketing |
|
6,120,000 |
|
|
5,657,000 |
|
|
25,491,000 |
|
|
22,561,000 |
|
||||
| Research and development |
|
3,502,000 |
|
|
3,521,000 |
|
|
14,196,000 |
|
|
11,405,000 |
|
||||
| Foreign exchange impact of lease liabilities and forward contracts |
|
1,487,000 |
|
|
(3,074,000 |
) |
|
(8,924,000 |
) |
|
15,892,000 |
|
||||
| Total operating expenses |
|
29,318,000 |
|
|
22,217,000 |
|
|
94,066,000 |
|
|
113,905,000 |
|
||||
| Operating income |
|
21,061,000 |
|
|
16,278,000 |
|
|
65,835,000 |
|
|
39,923,000 |
|
||||
| Other expenses: | ||||||||||||||||
| Interest expense, net |
|
10,284,000 |
|
|
12,546,000 |
|
|
46,696,000 |
|
|
55,550,000 |
|
||||
| Change in fair value of compound net derivative liability |
|
(1,270,000 |
) |
|
2,520,000 |
|
|
(1,130,000 |
) |
|
60,000 |
|
||||
| Total other expenses |
|
9,014,000 |
|
|
15,066,000 |
|
|
45,566,000 |
|
|
55,610,000 |
|
||||
| Income (loss) before income tax expense |
|
12,047,000 |
|
|
1,212,000 |
|
|
20,269,000 |
|
|
(15,687,000 |
) |
||||
| Income tax expense |
|
2,323,000 |
|
|
1,934,000 |
|
|
7,875,000 |
|
|
3,783,000 |
|
||||
| Net income (loss) | $ |
9,724,000 |
|
$ |
(722,000 |
) |
$ |
12,394,000 |
|
$ |
(19,470,000 |
) |
||||
| Basic net income (loss) per share | $ |
0.51 |
|
$ |
(0.04 |
) |
$ |
0.64 |
|
$ |
(0.99 |
) |
||||
| Diluted net income (loss) per share | $ |
0.42 |
|
$ |
(0.04 |
) |
$ |
0.62 |
|
$ |
(0.99 |
) |
||||
| Weighted average number of shares outstanding: | ||||||||||||||||
| Basic |
|
19,080,145 |
|
|
19,519,836 |
|
|
19,304,105 |
|
|
19,685,322 |
|
||||
| Diluted |
|
22,482,230 |
|
|
19,519,836 |
|
|
19,979,070 |
|
|
19,685,322 |
|
||||
MOTORCAR PARTS OF AMERICA, INC. AND SUBSIDIARIES Consolidated Balance Sheets |
||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ |
14,650,000 |
$ |
9,429,000 |
||||
| Short-term investments |
|
2,028,000 |
|
|
1,881,000 |
|
||
| Accounts receivable — net |
|
112,614,000 |
|
|
91,064,000 |
|
||
| Inventory — net |
|
380,603,000 |
|
|
341,209,000 |
|
||
| Inventory unreturned |
|
16,438,000 |
|
|
18,460,000 |
|
||
| Contract assets |
|
34,552,000 |
|
|
29,606,000 |
|
||
| Income tax receivable |
|
5,241,000 |
|
|
4,208,000 |
|
||
| Prepaid expenses and other current assets |
|
17,856,000 |
|
|
15,614,000 |
|
||
| Total current assets |
|
583,982,000 |
|
|
511,471,000 |
|
||
| Plant and equipment — net |
|
30,739,000 |
|
|
31,990,000 |
|
||
| Operating lease assets |
|
63,103,000 |
|
|
66,603,000 |
|
||
| Deferred income taxes |
|
4,039,000 |
|
|
4,569,000 |
|
||
| Long-term contract assets |
|
331,221,000 |
|
|
336,268,000 |
|
||
| Goodwill |
|
3,205,000 |
|
|
3,205,000 |
|
||
| Intangible assets — net |
|
235,000 |
|
|
552,000 |
|
||
| Other assets |
|
2,913,000 |
|
|
2,978,000 |
|
||
| TOTAL ASSETS | $ |
1,019,437,000 |
|
$ |
957,636,000 |
|
||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ |
167,229,000 |
|
$ |
141,906,000 |
|
||
| Accrued liabilities |
|
33,270,000 |
|
|
30,211,000 |
|
||
| Customer finished goods returns accrual |
|
29,923,000 |
|
|
34,411,000 |
|
||
| Contract liabilities |
|
61,201,000 |
|
|
38,158,000 |
|
||
| Revolving loan |
|
94,668,000 |
|
|
90,787,000 |
|
||
| Other current liabilities |
|
4,348,000 |
|
|
5,570,000 |
|
||
| Operating lease liabilities |
|
8,957,000 |
|
|
9,982,000 |
|
||
Total current liabilities |
399,596,000 |
351,025,000 |
||||||
| Convertible notes, related party |
|
38,993,000 |
|
|
35,207,000 |
|
||
| Contract liabilities, less current portion |
|
249,108,000 |
|
|
241,404,000 |
|
||
| Deferred income taxes |
|
425,000 |
|
|
362,000 |
|
||
| Operating lease liabilities, less current portion |
|
56,969,000 |
|
|
65,308,000 |
|
||
| Other liabilities |
|
8,336,000 |
|
|
6,631,000 |
|
||
| Total liabilities |
|
753,427,000 |
|
|
699,937,000 |
|
||
| Commitments and contingencies | ||||||||
| Shareholders' equity: | ||||||||
| Preferred stock; par value |
|
- |
|
|
- |
|
||
| Series A junior participating preferred stock; par value |
|
- |
|
|
- |
|
||
| Common stock; par value |
|
189,000 |
|
|
194,000 |
|
||
| Additional paid-in capital |
|
226,709,000 |
|
|
234,413,000 |
|
||
| Retained earnings |
|
32,427,000 |
|
|
20,033,000 |
|
||
| Accumulated other comprehensive income |
|
6,685,000 |
|
|
3,059,000 |
|
||
| Total shareholders' equity |
|
266,010,000 |
|
|
257,699,000 |
|
||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ |
1,019,437,000 |
|
$ |
957,636,000 |
|
||
Additional Information and Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with
The company believes this information helps provide a more complete understanding of the company's results of operations and the factors and trends affecting the company's business. However, this information should be considered as a supplement to, and not as a substitute for, or superior to, information contained in the company’s financial statements prepared in accordance with GAAP. In addition, the company’s non-GAAP measures may be calculated differently and are therefore not comparable to similar measures by other companies.
The company defines EBITDA as earnings before interest, taxes, depreciation, and amortization. A reconciliation of EBITDA to net income is provided below along with information regarding such items.
Items Impacting Net Income for the Three Months Ended March 31, 2026 and 2025 |
Exhibit 1 |
|||||||||||||||
| Three Months Ended March 31, | ||||||||||||||||
2026 |
2025 |
|||||||||||||||
|
|
$ |
|
Per Diluted Share |
|
$ |
|
Per Diluted Share |
||||||||
| GAAP net income (loss) | $ |
9,724,000 |
|
$ |
0.42 |
|
$ |
(722,000 |
) |
$ |
(0.04 |
) |
||||
| Non-cash items impacting net income | ||||||||||||||||
| Core and finished goods premium amortization | $ |
3,086,000 |
|
$ |
0.14 |
|
$ |
2,725,000 |
|
$ |
0.14 |
|
||||
| Revaluation - cores on customers' shelves |
|
785,000 |
|
|
0.03 |
|
|
489,000 |
|
|
0.03 |
|
||||
| Share-based compensation expenses |
|
1,317,000 |
|
|
0.06 |
|
|
868,000 |
|
|
0.04 |
|
||||
| Foreign exchange impact of lease liabilities and forward contracts |
|
1,487,000 |
|
|
0.07 |
|
|
(3,074,000 |
) |
|
(0.16 |
) |
||||
| Change in fair value of compound net derivative liability |
|
(1,270,000 |
) |
|
(0.06 |
) |
|
2,520,000 |
|
|
0.13 |
|
||||
| Tax effect (a) |
|
(1,351,000 |
) |
|
(0.06 |
) |
|
(882,000 |
) |
|
(0.05 |
) |
||||
| Total non-cash items impacting net income | $ |
4,054,000 |
|
$ |
0.18 |
|
$ |
2,646,000 |
|
$ |
0.14 |
|
||||
| Cash items impacting net income | ||||||||||||||||
| Transition expenses and severance (b) |
|
3,235,000 |
|
|
0.14 |
|
|
160,000 |
|
|
0.01 |
|
||||
| Net tariff costs paid for products sold before price increases were effective |
|
- |
|
|
- |
|
|
4,607,000 |
|
|
0.24 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
(6,547,000 |
) |
|
(0.29 |
) |
|
- |
|
|
- |
|
||||
| Tax effect (a) |
|
828,000 |
|
|
0.04 |
|
|
(1,192,000 |
) |
|
(0.06 |
) |
||||
| Total cash items impacting net income | $ |
(2,484,000 |
) |
$ |
(0.11 |
) |
$ |
3,575,000 |
|
$ |
0.18 |
|
||||
| (a) | Tax effect is calculated by applying an income tax rate of |
||||||||
| (b) | For the three months ended March 31, 2026, consists of |
||||||||
| Items Impacting Net Income for the Twelve Months Ended March 31, 2026 and 2025 | Exhibit 2 |
|||||||||||||||
| Twelve Months Ended March 31, | ||||||||||||||||
2026 |
2025 |
|||||||||||||||
| $ | Per Diluted Share |
$ | Per Diluted Share |
|||||||||||||
| GAAP net income (loss) | $ |
12,394,000 |
|
$ |
0.62 |
|
$ |
(19,470,000 |
) |
$ |
(0.99 |
) |
||||
| Non-cash items impacting net income | ||||||||||||||||
| Core and finished goods premium amortization | $ |
11,901,000 |
|
$ |
0.60 |
|
$ |
10,738,000 |
|
$ |
0.55 |
|
||||
| Revaluation - cores on customers' shelves |
|
3,590,000 |
|
|
0.18 |
|
|
2,805,000 |
|
|
0.14 |
|
||||
| Share-based compensation expenses |
|
5,635,000 |
|
|
0.28 |
|
|
3,877,000 |
|
|
0.20 |
|
||||
| Foreign exchange impact of lease liabilities and forward contracts |
|
(8,924,000 |
) |
|
(0.45 |
) |
|
15,892,000 |
|
|
0.81 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
(643,000 |
) |
|
(0.03 |
) |
|
- |
|
|
- |
|
||||
| Change in fair value of compound net derivative liability |
|
(1,130,000 |
) |
|
(0.06 |
) |
|
60,000 |
|
|
0.00 |
|
||||
| Tax effect (a) |
|
(2,607,000 |
) |
|
(0.13 |
) |
|
(8,343,000 |
) |
|
(0.42 |
) |
||||
| Total non-cash items impacting net income | $ |
7,822,000 |
|
$ |
0.39 |
|
$ |
25,029,000 |
|
$ |
1.27 |
|
||||
| Cash items impacting net income | ||||||||||||||||
| Transition expenses and severance (b) |
|
3,632,000 |
|
|
0.18 |
|
|
4,598,000 |
|
|
0.23 |
|
||||
| Net tariff costs paid for products sold before price increases were effective |
|
2,124,000 |
|
|
0.11 |
|
|
4,607,000 |
|
|
0.23 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
(6,547,000 |
) |
|
(0.33 |
) |
|
- |
|
|
- |
|
||||
| Tax effect (a) |
|
198,000 |
|
|
0.01 |
|
|
(2,301,000 |
) |
|
(0.12 |
) |
||||
| Total cash items impacting net income | $ |
(593,000 |
) |
$ |
(0.03 |
) |
$ |
6,904,000 |
|
$ |
0.35 |
|
||||
| (a) | Tax effect is calculated by applying an income tax rate of |
||||||||
| (b) | For the twelve months ended March 31, 2026, consists of |
||||||||
| Items Impacting Gross Profit for the Three Months Ended March 31, 2026 and 2025 | Exhibit 3 |
|||||||||||||
| Three Months Ended March 31, | ||||||||||||||
2026 |
2025 |
|
||||||||||||
|
|
$ |
|
Gross Margin |
|
$ |
|
Gross Margin |
||||||
| GAAP gross profit | $ |
50,379,000 |
|
23.7 |
% |
$ |
38,495,000 |
19.9 |
% |
|||||
| Non-cash items impacting gross profit | ||||||||||||||
| Core and finished goods premium amortization | $ |
3,086,000 |
|
1.5 |
% |
$ |
2,725,000 |
|
1.4 |
% |
||||
| Revaluation - cores on customers' shelves |
|
785,000 |
|
0.4 |
% |
|
489,000 |
|
0.3 |
% |
||||
| Total non-cash items impacting gross profit | $ |
3,871,000 |
|
1.8 |
% |
$ |
3,214,000 |
|
1.7 |
% |
||||
| Cash items impacting gross profit | ||||||||||||||
| Transition expenses and severance |
|
2,571,000 |
|
1.2 |
% |
|
- |
|
- |
|
||||
| Net tariff costs paid for products sold before price increases were effective |
|
- |
|
- |
|
|
4,607,000 |
|
2.4 |
% |
||||
| Gain due to realignment of inventory at customer distribution centers (a) |
|
(6,547,000 |
) |
-0.9 |
% |
|
- |
|
- |
|
||||
| Total cash items impacting gross profit | $ |
(3,976,000 |
) |
0.3 |
% |
$ |
4,607,000 |
|
2.4 |
% |
||||
| (a) | gross margin reflecting impact to net sales and cost of goods sold |
| Items Impacting Gross Profit for the Twelve Months Ended March 31, 2026 and 2025 | Exhibit 4 |
|||||||||||||
| Twelve Months Ended March 31, | ||||||||||||||
2026 |
2025 |
|||||||||||||
|
|
$ |
|
Gross Margin |
|
$ |
|
Gross Margin |
||||||
| GAAP gross profit | $ |
159,901,000 |
|
20.2 |
% |
$ |
153,828,000 |
20.3 |
% |
|||||
| Non-cash items impacting gross profit | ||||||||||||||
| Core and finished goods premium amortization | $ |
11,901,000 |
|
1.5 |
% |
$ |
10,738,000 |
|
1.4 |
% |
||||
| Revaluation - cores on customers' shelves |
|
3,590,000 |
|
0.5 |
% |
|
2,805,000 |
|
0.4 |
% |
||||
| Gain due to realignment of inventory at customer distribution centers (a) |
|
(643,000 |
) |
0.3 |
% |
|
- |
|
- |
|
||||
| Total non-cash items impacting gross profit | $ |
14,848,000 |
|
2.3 |
% |
$ |
13,543,000 |
|
1.8 |
% |
||||
| Cash items impacting gross profit | ||||||||||||||
| Transition expenses and severance |
|
2,571,000 |
|
0.3 |
% |
|
1,298,000 |
|
0.2 |
% |
||||
| Net tariff costs paid for products sold before price increases were effective |
|
2,124,000 |
|
0.3 |
% |
|
4,607,000 |
|
0.6 |
% |
||||
| Gain due to realignment of inventory at customer distribution centers (a) |
|
(6,547,000 |
) |
-0.3 |
% |
|
- |
|
- |
|
||||
| Total cash items impacting gross profit | $ |
(1,852,000 |
) |
0.3 |
% |
$ |
5,905,000 |
|
0.8 |
% |
||||
| (a) | gross margin reflecting impact to net sales and cost of goods sold |
| Items Impacting EBITDA for the Three and Twelve Months Ended March 31, 2026 and 2025 | Exhibit 5 |
|||||||||||||||
| Three Months Ended March 31, | Twelve Months Ended March 31, | |||||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
| GAAP net income (loss) | $ |
9,724,000 |
|
$ |
(722,000 |
) |
$ |
12,394,000 |
|
$ |
(19,470,000 |
) |
||||
| Interest expense, net |
|
10,284,000 |
|
|
12,546,000 |
|
|
46,696,000 |
|
|
55,550,000 |
|
||||
| Income tax expense |
|
2,323,000 |
|
|
1,934,000 |
|
|
7,875,000 |
|
|
3,783,000 |
|
||||
| Depreciation and amortization |
|
2,283,000 |
|
|
2,538,000 |
|
|
9,464,000 |
|
|
10,400,000 |
|
||||
| EBITDA | $ |
24,614,000 |
|
$ |
16,296,000 |
|
$ |
76,429,000 |
|
$ |
50,263,000 |
|
||||
| Non-cash items impacting EBITDA | ||||||||||||||||
| Core and finished goods premium amortization | $ |
3,086,000 |
|
$ |
2,725,000 |
|
$ |
11,901,000 |
|
$ |
10,738,000 |
|
||||
| Revaluation - cores on customers' shelves |
|
785,000 |
|
|
489,000 |
|
|
3,590,000 |
|
|
2,805,000 |
|
||||
| Share-based compensation expenses |
|
1,317,000 |
|
|
868,000 |
|
|
5,635,000 |
|
|
3,877,000 |
|
||||
| Foreign exchange impact of lease liabilities and forward contracts |
|
1,487,000 |
|
|
(3,074,000 |
) |
|
(8,924,000 |
) |
|
15,892,000 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
- |
|
|
- |
|
|
(643,000 |
) |
|
- |
|
||||
| Change in fair value of compound net derivative liability |
|
(1,270,000 |
) |
|
2,520,000 |
|
|
(1,130,000 |
) |
|
60,000 |
|
||||
| Total non-cash items impacting EBITDA | $ |
5,405,000 |
|
$ |
3,528,000 |
|
$ |
10,429,000 |
|
$ |
33,372,000 |
|
||||
| Cash items impacting EBITDA | ||||||||||||||||
| Transition expenses and severance |
|
3,235,000 |
|
|
160,000 |
|
|
3,632,000 |
|
|
4,598,000 |
|
||||
| Net tariff costs paid for products sold before price increases were effective |
|
- |
|
|
4,607,000 |
|
|
2,124,000 |
|
|
4,607,000 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
(6,547,000 |
) |
|
- |
|
|
(6,547,000 |
) |
|
- |
|
||||
| Total cash items impacting EBITDA | $ |
(3,312,000 |
) |
$ |
4,767,000 |
|
$ |
(791,000 |
) |
$ |
9,205,000 |
|
||||
| Items Impacting Operating Income for the Three and Twelve Months Ended March 31, 2026 and 2025 | Exhibit 6 |
|||||||||||||||
| Three Months Ended March 31, | Twelve Months Ended March 31, | |||||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
| GAAP operating income | $ |
21,061,000 |
|
$ |
16,278,000 |
|
$ |
65,835,000 |
|
$ |
39,923,000 |
|||||
| Non-cash items impacting operating income | ||||||||||||||||
| Core and finished goods premium amortization | $ |
3,086,000 |
|
$ |
2,725,000 |
|
$ |
11,901,000 |
|
$ |
10,738,000 |
|
||||
| Revaluation - cores on customers' shelves |
|
785,000 |
|
|
489,000 |
|
|
3,590,000 |
|
|
2,805,000 |
|
||||
| Share-based compensation expenses |
|
1,317,000 |
|
|
868,000 |
|
|
5,635,000 |
|
|
3,877,000 |
|
||||
| Foreign exchange impact of lease liabilities and forward contracts |
|
1,487,000 |
|
|
(3,074,000 |
) |
|
(8,924,000 |
) |
|
15,892,000 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
- |
|
|
- |
|
|
(643,000 |
) |
|
- |
|
||||
| Total non-cash items impacting operating income | $ |
6,675,000 |
|
$ |
1,008,000 |
|
$ |
11,559,000 |
|
$ |
33,312,000 |
|
||||
| Cash items impacting operating income | ||||||||||||||||
| Transition expenses and severance |
|
3,235,000 |
|
|
160,000 |
|
|
3,632,000 |
|
|
4,598,000 |
|
||||
| Net tariff costs paid for products sold before price increases were effective |
|
- |
|
|
4,607,000 |
|
|
2,124,000 |
|
|
4,607,000 |
|
||||
| Gain due to realignment of inventory at customer distribution centers |
|
(6,547,000 |
) |
|
- |
|
|
(6,547,000 |
) |
|
- |
|
||||
| Total cash items impacting operating income | $ |
(3,312,000 |
) |
$ |
4,767,000 |
|
$ |
(791,000 |
) |
$ |
9,205,000 |
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260608531553/en/
Gary S. Maier
Vice President, Corporate Communications & IR
(310) 972-5124
Source: Motorcar Parts of America, Inc.