CarParts.com, Inc. - PRTS STOCK NEWS

CarParts.com, Inc. (NASDAQ: PRTS) announced it will host a conference call on May 2, 2023, at 2:00 p.m. PT to discuss its Q1 financial results for the period ending April 1, 2023. The company will issue results in a press release prior to the call. Participants are encouraged to pre-register for the call, which includes a question and answer session. The event will be available via a live audio webcast, with a replay archived on the company’s website. CarParts.com is a prominent eCommerce platform offering automotive parts and maintenance services, providing customers with quality products at competitive prices.

CarParts.com (NASDAQ: PRTS) reported its fourth quarter and fiscal year results for 2022, marking record sales of $154.5 million in Q4 and $661.6 million for the year, representing growth of 12% and 14% year-over-year, respectively. Gross profit for the full year rose 17% to $230.9 million, with a gross margin of 34.9%. While the company reported a net loss of $1.0 million for the year, it significantly improved from a loss of $10.3 million in 2021. Adjusted EBITDA increased 56% year-over-year to $26.1 million. As of December 31, 2022, CarParts.com held $18.8 million in cash with no debt. The CEO emphasized a strong balance sheet and continued growth strategy for 2023.

CarParts.com, Inc. (NASDAQ: PRTS) has announced a conference call scheduled for March 7, 2023, at 2:00 p.m. PT to discuss its financial results for the fourth quarter and fiscal year ending December 31, 2022. The financial results will be shared in a press release prior to the call. CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker will lead the call, available through an audio webcast. Participants must pre-register to receive dial-in details. Archived webcasts will be available on the company’s investor relations website.

CarParts.com (NASDAQ: PRTS) has promoted Stephanie Urbach from SVP of HR to CHRO, effective January 9, 2023. Urbach, with over 25 years of expertise in HR, is expected to enhance employee experience and align HR practices with company growth. CEO David Meniane emphasized the importance of investing in employees as a core company value. Under Urbach's leadership, significant HR operational changes have already been implemented, contributing to the company’s organizational transformation. CarParts.com aims to support employee career development and operational efficiencies in delivering exceptional customer experiences.

CarParts.com (NASDAQ: PRTS) has appointed Michael Huffaker as Chief Operating Officer, effective immediately. Huffaker, previously at Amazon Fresh Grocery, brings extensive retail experience and a focus on enhancing operational efficiencies and customer experience. CarParts.com has reported 11 consecutive quarters of double-digit revenue growth, affirming its commitment to a customer-centric model. Huffaker aims to identify opportunities for improved delivery speed, safety, and reliability, aligning with the company's growth strategy.

CarParts.com reported a record third quarter sales of $164.8 million, a 16% increase year-over-year, marking the 11th consecutive quarter of double-digit sales growth. Gross profit rose 19% to $56.1 million, with gross margin also improving to 34.1%. The company reported a net loss of ($0.9 million), significantly less than the previous year's ($4.7 million). Additionally, adjusted EBITDA improved to $6.3 million from $2.3 million the year before. With a cash balance of $16.7 million and manageable debt levels, management expresses confidence in self-funding future growth.

CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on November 9, 2022, at 2:00 p.m. PT to discuss its third-quarter financial results ending October 1, 2022. CEO David Meniane and CFO Ryan Lockwood will lead the call, followed by a Q&A session. Participants need to pre-register to access the call. A live audio webcast will be available on the company's investor relations page, with a replay archived afterward. This event reflects the company's ongoing commitment to transparency with its stakeholders.

CarParts.com reported record sales of $176.2 million for Q2 2022, reflecting a 12% year-over-year increase and marking the 10th consecutive quarter of sales growth. Net income rose to $4.1 million, with Adjusted EBITDA remaining steady at $8.3 million. The gross profit increased by 16%, reaching $61.9 million, while gross margin improved to 35.1%. The company also secured a $75 million credit facility, extendable to $150 million, with growth projections for the second half of 2022 anticipated to be in double digits.