Welcome to our dedicated page for Carparts Com news (Ticker: PRTS), a resource for investors and traders seeking the latest updates and insights on Carparts Com stock.
CarParts.com Inc (PRTS) operates a leading eCommerce platform for automotive aftermarket parts, serving both consumers and businesses across North America. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping the automotive parts sector.
Discover official press releases covering earnings announcements, product innovations, supply chain expansions, and partnership agreements. Our curated collection ensures access to verified information about operational milestones, technology implementations, and market positioning efforts.
Key updates include financial disclosures, leadership changes, inventory system upgrades, and eCommerce platform enhancements. Bookmark this page for direct access to PRTS's evolving story in the competitive automotive aftermarket space, supported by factual reporting and neutral analysis.
CarParts.com (NASDAQ: PRTS) reported a 21% year-over-year increase in net sales, reaching $141.8 million in Q3 2021, with a gross profit of $47.3 million and a gross margin of 33.4%. However, the company faced a net loss of $4.7 million compared to a net income of $1.4 million last year. Adjusted EBITDA also decreased to $2.3 million from $5.1 million. Inventory rose to a record $131.8 million, highlighting ongoing investments in growth, despite a challenging financial quarter. Management maintains long-term targets of 20-25% revenue growth.
CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on November 2, 2021, to discuss its third-quarter financial results for the period ending October 2, 2021. The results will be shared in a press release before the call, which will feature CEO Lev Peker and CFO David Meniane. The call will start at 5:00 PM ET and will be accessible via audio webcast. Interested parties can listen live or access a replay on the Company's website.
Michael McDowell and the No. 34 CarParts.com team are striving to make history for Front Row Motorsports (FRM) as they approach the Las Vegas Motor Speedway. This season, the team has achieved five top-10 finishes, two top-five finishes, and a Daytona 500 championship. McDowell is 43 points behind the 15th position but remains hopeful for further achievements in the upcoming races. CarParts.com's continuous support underlines the team's ambitions.
CarParts.com will be in the spotlight as driver Michael McDowell returns to the Daytona International Speedway following his Daytona 500 victory. The team, featuring the No. 34 Ford Mustang, will also see PowerStop as a major associate sponsor. This race is crucial as it leads into the NASCAR Playoffs. McDowell expressed confidence in their new car's performance, building on the momentum from their Daytona win. The partnership with PowerStop continues to strengthen, enhancing visibility for CarParts.com and its services.
CarParts.com reported a strong second quarter for 2021, with net sales increasing 32% year-over-year to $157.5 million. The gross profit rose 31% to $53.3 million, despite a slight decline in gross margin to 33.9%. Net income improved to $2.1 million, or $0.04 per share, compared to $1.6 million last year. The company also announced a $30 million stock repurchase plan and is expanding its distribution network to enhance operational capacity. Management maintains a long-term revenue growth target of 20-25%.
CarParts.com, Inc. (NASDAQ: PRTS) returns as the primary sponsor for the No. 34 Front Row Motorsports team, partnering with driver Michael McDowell for three races this August, starting with the upcoming event at Watkins Glen. The company has delivered over 50 million parts and plans to open a sixth distribution center in Jacksonville, enhancing customer accessibility. With a focus on a mobile-friendly shopping platform and strong relationships, CarParts.com aims to capitalize on its partnership during NASCAR playoffs. The race will be broadcast live on NBC.
The Professional Fighters League (PFL) launched the $100,000 Perfect Bracket Challenge, presented by CarParts.com (NASDAQ: PRTS), ahead of the 2021 Playoffs. This free competition invites fans to predict outcomes of semifinal and championship bouts through an interactive app, engaging them with live events broadcasted on ESPN networks. The challenge, aimed at MMA fans in the U.S., precedes the August Playoffs featuring three events, culminating in a Championship with $6 million in total purses. PFL positions itself as the No. 2 MMA organization globally, expanding its reach with strategic partnerships.
CarParts.com, Inc. (NASDAQ: PRTS) has scheduled a conference call for August 5, 2021 at 5:00 p.m. ET to discuss its financial results for the second quarter ended July 3, 2021. The results will be released prior to the call. CEO Lev Peker and CFO David Meniane will lead the discussion, which will also include a Q&A session. Interested parties can access the call via a webcast link on the company’s website. For those unable to join, a replay will be available until August 12, 2021.
CarParts.com (NASDAQ: PRTS) will open its sixth distribution center in Jacksonville, Florida, in Q1 2022, expanding its warehouse space by 180,000 square feet and adding 150 full-time positions. The new facility aims to enhance logistics, providing 1-day shipping to 55% of the U.S. and 2-day shipping to over 98%. Following a 65% revenue growth in Q1 2021, the company plans to support its 20% to 25% annual growth target with this investment. The center will stock various auto parts, including mechanical and collision components.
CarParts.com (NASDAQ: PRTS) has entered a partnership with Major League Fishing (MLF), becoming the Exclusive Auto Parts Retailer for the MLF Bass Pro Tour. This sponsorship includes the title sponsorship of the Bass Pro Tour CarParts.com Stage Seven event in St. Clair Shores, Michigan, scheduled for Sept. 10-15, 2021. CarParts.com will have significant brand visibility through in-studio signage and custom content videos featuring MLF anglers. The partnership aims to connect the brand with truck owners and outdoor enthusiasts, enhancing CarParts.com's reach and market presence.
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