Welcome to our dedicated page for Motorcar Parts of America news (Ticker: MPAA), a resource for investors and traders seeking the latest updates and insights on Motorcar Parts of America stock.
Motorcar Parts of America, Inc. (MPAA) is a prominent manufacturer, remanufacturer, and distributor of automotive aftermarket parts. The company specializes in producing and distributing essential components such as alternators, starters, wheel hub assemblies, and brake master cylinders. These products cater to both imported and domestic passenger vehicles, light trucks, and even heavy-duty applications. Motorcar Parts of America’s extensive range of products is available through automotive retail outlets and the professional repair market across the United States and Canada.
MPAA’s operational infrastructure includes state-of-the-art facilities strategically located in California, Mexico, Malaysia, and China. The company also maintains administrative offices in California, Tennessee, Mexico, Singapore, Malaysia, and Toronto. This global footprint enhances the company’s ability to meet the diverse needs of the automotive aftermarket industry efficiently.
One of the distinguishing features of Motorcar Parts of America is its commitment to sustainability. The company employs a remanufacturing process that is highly efficient, potentially reducing material and energy consumption by up to 91% compared to traditional manufacturing methods. This eco-friendly approach involves reclaiming and reconditioning all non-wearing parts, thereby conserving both energy and raw materials.
Financially, MPAA derives a significant portion of its revenue from the sales of rotating electrical products, supported by a robust market for wheel hub assemblies and brake master cylinders. The company's products are available under its own brands, through private-label services, and as part of warranty replacement programs offered by automobile manufacturers.
Recent achievements include expanding its product lines and enhancing its market presence through strategic partnerships and innovative projects. As a result, Motorcar Parts of America continues to solidify its position as a key player in the automotive aftermarket industry.
Motorcar Parts of America Inc. (NASDAQ: MPAA) has secured a strategic investment of
Motorcar Parts of America (MPAA) has added over 100 new late model vehicle part number applications to its catalog in four months, enhancing coverage for more than 40 million vehicles. These part numbers are accessible to the professional installer market through the Quality-Built and Quality-Built Black Series brands. Senior VP Rick Mochulsky emphasized the company's commitment to meeting the strong demand for non-discretionary products. MPAA focuses on remanufacturing and distributing a variety of automotive aftermarket parts across North America.
Motorcar Parts of America (MPAA) reported fiscal Q3 2023 net sales of $151.8 million, down from $161.8 million a year ago, impacted by reduced orders from a key customer and supply chain disruptions. Despite these challenges, the company expects net sales for fiscal 2023 to reach between $672 million and $680 million, reflecting 3.3% to 4.6% year-over-year growth. Gross profit dropped to $21.0 million with a gross margin of 13.8%, influenced by inflation and production volume decline. Looking ahead, new business wins and a price increase of $20 million are anticipated to enhance cash flow and gross margins in Q4 and fiscal 2024.
Motorcar Parts of America (Nasdaq: MPAA) will release its fiscal 2023 third-quarter results on February 9, 2023. CEO Selwyn Joffe and CFO David Lee will host an investor conference call at 10:00 a.m. Pacific Time to discuss financial results and operations. Investors can access the call via a live audio Web broadcast on www.motorcarparts.com or by phone. A playback of the call will be available from 1:00 p.m. Pacific Time on February 9 through 8:59 p.m. Pacific Time on February 16, 2023. Motorcar Parts is engaged in the remanufacturing and distribution of automotive aftermarket parts.
Motorcar Parts of America (Nasdaq: MPAA) reported a net loss of $6.5 million for Q2 FY2023, a decline from net income in the prior year. Net sales increased by 6.6% to $172.5 million, though customers delayed orders, impacting performance. Gross profit decreased to $26.5 million with a margin of 15.4%. The company reaffirmed its FY2023 guidance with projected sales between $680 million and $700 million, indicating growth of 4.6% to 7.6%. Supply chain disruptions and inflationary costs were significant challenges.
Motorcar Parts of America (MPAA) will announce its fiscal 2023 Q2 results on November 9, 2022. CEO Selwyn Joffe and CFO David Lee will host a conference call at 10:00 a.m. Pacific Time to discuss the financial results and operations. Investors can join the call via a live audio web broadcast or by phone. An archived playback will be available from 1:00 p.m. on November 9 through November 16, 2022.
Motorcar Parts manufactures and distributes automotive parts across North America and has a division focused on electric vehicle solutions.
Motorcar Parts of America (Nasdaq:MPAA) is set to present a fireside chat at the Gabelli Funds 46th Annual Automotive Aftermarket Symposium in
Motorcar Parts of America, Inc. (Nasdaq: MPAA) reported a record net sales of $164.0 million for Q1 fiscal 2023, up 10.0% year-over-year. Gross profit also surged to $30.3 million, reflecting a 28.6% increase. Despite these gains, the company recorded a net loss of $175,000, attributed to non-cash items and increased interest expenses totaling $3.0 million. The fiscal outlook is optimistic, with expectations for improved margins from price increases and enhanced efficiencies in brake-related products.
Motorcar Parts of America (Nasdaq: MPAA) has announced it will release its fiscal 2023 first quarter results on August 9, 2022. CEO Selwyn Joffe and CFO David Lee will host a conference call at 10:00 a.m. Pacific time to discuss the results and operations. Investors can access the call via a live audio Web broadcast on the company's website or by phone. An archived version will be available for later listening. The company specializes in automotive aftermarket parts and operates facilities in the U.S., Canada, Mexico, Malaysia, China, and India.
Motorcar Parts of America (Nasdaq: MPAA) reported record net sales of $650.3 million for fiscal 2022, a 20.3% increase year-over-year, driven by strong demand for aftermarket parts. However, net income fell to $7.4 million, or $0.38 per diluted share, due to supply chain disruptions and non-cash items. For fiscal 2023, the company projects net sales between $680 million and $700 million, marking 4.6% to 7.6% growth. Despite the challenges, expectations for margin improvement and strategic inventory investments remain positive.
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