Carparts Com Inc Stock Price, News & Analysis

CarParts.com, Inc. (NASDAQ: PRTS) has announced a conference call scheduled for May 10, 2021, at 5:00 p.m. ET to discuss its financial results for the first quarter ending April 3, 2021. The results will be released in advance of the call. CEO Lev Peker and CFO David Meniane will host the call accessible through a live audio webcast on the company’s website. Interested parties can also dial in using specific numbers for domestic and international listeners. A replay will be available until May 17, 2021.

CarParts.com (NASDAQ: PRTS) has appointed Henry Maier, CEO of FedEx Ground, to its board of directors. Maier brings over 35 years of logistics expertise, aiming to enhance CarParts.com's supply chain capabilities. CEO Lev Peker emphasized the company's focus on growth, leveraging its two-step distribution model. The board vacancy follows the retirement of co-founders Sol Khazani and Mehran Nia, who expressed confidence in the company's financial stability, noting zero debt and ample cash. CarParts.com is committed to becoming a leading online destination for auto parts.

CarParts.com (NASDAQ: PRTS) has entered into an asset purchase agreement to acquire Precise Fuel Delivery Systems inventory from Premium Guard. This move aims to enhance CarParts.com’s inventory and expand its mechanical parts offerings in the $300 billion auto parts market. The acquisition is expected to drive efficiencies through economies of scale and increase vehicle application coverage by over 50%. The deal is anticipated to close in the first quarter of fiscal year 2021, although financial terms were not disclosed, indicating a non-material impact on the company.

CarParts.com (NASDAQ: PRTS) announced a fireside chat presentation at the Roth Capital Partners 33rd Annual Stock Growth Conference on March 15, 2021, at 10:00 a.m. PST. A live video webcast will be available on the Roth Conference Website. The company reported record Q4 2020 sales of $119.7 million, a 90% increase year-over-year, and full-year sales of $443.9 million, up 58%. CarParts.com also launched an electric vehicle and hybrid shopping hub at www.carparts.com/ev.

CarParts.com (NASDAQ: PRTS) reported a strong performance for Q4 and fiscal year 2020. Net sales soared 90% YoY to $119.7 million in Q4 and 58% to $443.9 million for the year. Gross profit increased 97% to $41.6 million for Q4 and 84% to $155.4 million for the year, with gross margins improving significantly. Despite a net loss of $3.5 million for Q4, an improvement from a loss of $25.1 million last year, the company had no debt and a cash balance of $35.8 million at year-end. Management remains optimistic about future opportunities in the automotive parts market.

CarParts.com (NASDAQ: PRTS) solidifies its connection to NASCAR by expanding its partnership with 2021 Daytona 500 champion Michael McDowell and Front Row Motorsports. The partnership includes full-season associate branding and primary sponsorship at four races, starting at Watkins Glen on August 8. CarParts.com has gained recognition for its mobile-friendly platform, delivering over 50 million parts. McDowell's endorsement emphasizes the brand's alignment with winning, which could enhance its visibility and market presence in the automotive parts sector.

CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on March 8, 2021, at 5:00 p.m. ET to discuss its financial results for the fourth quarter ending January 2, 2021. The call will be hosted by CEO Lev Peker and CFO David Meniane and will include a Q&A session. Investors can access the live audio webcast via the company's website. A replay will be available until March 22, 2021. CarParts.com has been a leader in e-commerce automotive aftermarket for over 25 years, providing a wide range of replacement and performance parts.

CarParts.com (NASDAQ: PRTS) has announced that its new 210,000 square foot distribution center in Grand Prairie, Texas, is operational and has hired its 200th employee. Since launching in Q4 2020, the facility has shipped over 100,000 packages. The company focuses on operational efficiency, stocking fast-moving inventory while hiring veterans to enhance productivity. With increasing demand for auto parts, especially as the U.S. car fleet ages, CarParts.com is committed to ensuring quick delivery and continuous community support in Grand Prairie.