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 (Nasdaq: MPAA) announced that its subsidiary, D&V Electronics USA, is aiding in the development of an extreme fast EV charger, with a capacity of up to 400kW, expected to provide a 180-mile range in less than 10 minutes. The high-power direct current emulator plays a crucial role by simulating vehicle-to-grid scenarios, located at NextEnergy in Detroit. This initiative, supported by the U.S. Department of Energy and Delta Electronics, emphasizes the company's prominence in the EV market and commitment to innovative testing solutions.
Motorcar Parts of America (Nasdaq: MPAA) announced its fiscal 2021 third-quarter results, reporting net sales of $122.6 million, a slight decrease from $125.6 million in the same quarter last year, attributed to COVID-19-induced challenges. Net income surged to $8.5 million, or $0.44 per diluted share, up from $865,000 or $0.04 per share a year ago. Cash generated from operations reached $33.2 million, while net debt was reduced by 29.1% to $67.6 million. The company remains optimistic about future demand as vaccination efforts progress, despite ongoing supply chain challenges.
Motorcar Parts of America (Nasdaq: MPAA) will report its fiscal 2021 Q3 results on February 9, 2021. CEO Selwyn Joffe and CFO David Lee will host a conference call at 10:00 a.m. Pacific Time to discuss financial outcomes and operations. Investors can access the call via live audio Web broadcast at www.motorcarparts.com or by phone. An archive of the call will be available shortly after. The company specializes in remanufacturing and distributing automotive aftermarket parts across North America and internationally, including electric vehicle testing solutions.
Motorcar Parts of America (Nasdaq: MPAA) announced a strategic distribution partnership between its subsidiary D&V Electronics and Singapore's TME Systems Pte Ltd. This collaboration aims to enhance D&V's presence in Southeast Asia, capitalizing on its expertise in testing and diagnostic equipment for electric vehicles. Both companies anticipate significant growth opportunities in this rapidly evolving market. The announcement underscores the importance of commercial partnerships in Motorcar Parts' strategic growth initiatives, with no financial terms disclosed.
Motorcar Parts of America, Inc. (Nasdaq: MPAA) has appointed Jamy Rankin to its board of directors, enhancing its commitment to diversity and corporate governance. With this addition, the board comprises ten members, nine of whom are independent. Rankin brings extensive automotive aftermarket experience, having previously served as CEO of Ford Component Sales. Her academic achievements include degrees from the University of Pittsburgh and the University of Chicago, alongside numerous industry accolades. This strategic appointment is expected to contribute positively to the company's growth.
Motorcar Parts of America (Nasdaq: MPAA) launched a new Q&A section on its website to enhance investor understanding of the automotive aftermarket industry. Chairman Selwyn Joffe emphasized the company's commitment to regular updates in the investor relations resources section. Motorcar Parts specializes in remanufacturing automotive parts, including alternators, starters, and brake components, distributing them across North America. The company also designs test solutions for electric motors and similar products, with operations in several countries.
Motorcar Parts of America, Inc. (MPAA) reported its fiscal 2021 second quarter results with net sales of $154.7 million, up from $150.4 million year-over-year. Net income surged to $15.2 million, or $0.78 per diluted share, compared to $6.2 million a year ago. The company also generated $16.9 million in cash from operations. Despite strong performance, MPAA refrains from providing annual sales guidance due to ongoing global uncertainties. Additionally, the company is resuming its $21.3 million stock buy-back program.
Motorcar Parts of America (Nasdaq: MPAA) will release its fiscal 2021 second-quarter results on November 9, 2020. An investor conference call, led by CEO Selwyn Joffe and CFO David Lee, will be held at 10:00 a.m. Pacific Time to discuss these results and operational updates. Investors can access the call via a live audio Web broadcast or telephone, with an archive available afterward. The company is a key player in the automotive aftermarket, manufacturing and distributing various parts and testing solutions across North America and internationally.
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