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 (MPAA) reported record sales of $168.1 million for Q4 FY2021, an increase of 11.5% year-on-year. Net income stood at $835,000, a turnaround from a loss of $8.2 million a year prior. For the full fiscal year, net sales slightly rose to $540.8 million, with a net income of $21.5 million compared to a loss of $7.3 million. Gross profit decreased to $32.1 million in Q4 and $109.5 million for the year, impacted by COVID-related costs and operational challenges. The company remains cautiously optimistic about future demand, particularly in the electric vehicle sector.
Motorcar Parts of America, Inc. (Nasdaq: MPAA) announced it received AutoZone’s Extra Miler award for exceptional service at AutoZone’s recent Vendor Summit. This award is given to select suppliers who consistently exceed expectations and overcome challenges. CEO Selwyn Joffe expressed pride in the award, emphasizing the company's commitment to product quality and customer service. Motorcar Parts is a key player in the automotive aftermarket, offering a range of parts and diagnostic equipment across North America and beyond.
Motorcar Parts of America, Inc. (Nasdaq: MPAA) will announce its fiscal 2021 fourth quarter and year-end results on June 14, 2021. The company’s chairman and CEO, Selwyn Joffe, along with CFO David Lee, will host an investor conference call at 10:00 a.m. Pacific time on the same day to discuss financial results and operations. Investors can access the live audio Web broadcast through the company’s website. The call will also be archived for future listening. Motorcar Parts manufactures and distributes automotive aftermarket parts across North America.
Motorcar Parts of America (Nasdaq:MPAA) will present at the 21st Annual Oppenheimer Consumer Growth and E-Commerce Conference on June 16, 2021, at 9:55 a.m. ET. The event will be held virtually, and a live audio webcast will be accessible via www.motorcarparts.com. The webcast will remain available for 30 days post-event. Motorcar Parts specializes in remanufacturing and distributing automotive aftermarket components, including electrical systems and performance testing solutions for electric vehicles.
Motorcar Parts of America (Nasdaq: MPAA) announced the extension of its loan agreement maturity date with PNC Bank to May 2026. This comes with amendments that enhance the company’s liquidity, maintaining a total credit facility of approximately $269 million. CEO Selwyn Joffe expressed gratitude for PNC Bank’s support and highlighted the strategic benefits expected from their investments. This credit facility consists of a $238.62 million revolver and a $30 million term loan facility.
Motorcar Parts of America (Nasdaq: MPAA) announced that its subsidiary D&V Electronics secured over $2 million in orders for advanced power hardware-in-the-loop (p-HIL) and inverter test systems from electric vehicle manufacturers in China and Europe. These systems are crucial for the design and validation of electric vehicle components. The company highlighted the importance of these wins in the context of growing relationships with major automotive stakeholders, emphasizing their commitment to green transport solutions and efficient testing capabilities.
Motorcar Parts of America (Nasdaq: MPAA) announced a collaboration through its subsidiary D&V Electronics with NI (Nasdaq: NATI) to market Power Hardware-in-the-loop (Power-HIL) emulator test solutions for electric vehicle manufacturers.
This partnership aims to enhance testing efficiency and reduce design cycle times for electric powertrains, facilitating faster market entry. The D&V Electronics Detroit Technical Center will be utilized for system development and customer engagement, reinforcing D&V's power emulation capabilities with NI's automation and measurement technology.
Motorcar Parts of America, Inc. (Nasdaq:MPAA) announced that Selwyn Joffe has been inducted into the Federated Auto Parts’ 2021 Vendor Hall of Fame. This prestigious award recognizes individuals for their exceptional contributions to Federated Auto Parts. The award was presented at the 2021 Virtual National Conference & Expo by Bo Fisher. Joffe, who has been with Motorcar Parts since 1994 and serves as chairman and CEO, expressed gratitude for the honor and acknowledged the support of his team. The company is a major player in remanufacturing and distributing automotive aftermarket parts.
Motorcar Parts of America (Nasdaq: MPAA) has announced the opening of a new technical center in the Detroit area through its subsidiary D&V Electronics. This facility aims to support the growing demand for electric vehicle (EV) testing solutions, providing advanced engineering and testing capabilities for automotive manufacturers. The center will offer emulator solutions, on-site training, and technical support to enhance customer efficiency. Chairman Selwyn Joffe emphasized the strategic importance of this expansion in response to the booming EV market.
Motorcar Parts of America (Nasdaq:MPAA) will present a fireside chat on March 15, 2021, at 2:00 p.m. PT during Roth Capital Partners' 33rd Annual Stock Growth Conference, which will be held virtually.
A live audio webcast will be available on www.motorcarparts.com and will be archived for 30 days. The company specializes in remanufacturing and distributing automotive aftermarket parts and operates across the U.S., Canada, and Mexico. Its electrical vehicle subsidiary focuses on testing solutions for electric power trains.
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