Carparts Com Inc Stock Price, News & Analysis

CarParts.com (NASDAQ: PRTS) is set to attend the 2021 Citi Consumer Access Conference virtually on June 4, 2021. Management will conduct one-on-one meetings with registered investors. Recently, CarParts.com reported record Q1 2021 sales of $144.8 million, a 65% increase year-over-year, and gross profit of $49.2 million, also up 65%. The company aims for 20-25% compounded sales growth.

For more details or to schedule a meeting, contact CarParts.com's investor relations at ir@carparts.com.

CarParts.com (NASDAQ: PRTS) will participate in the 18th Annual Craig-Hallum Institutional Investor Conference virtually on June 2, 2021. Management invites registered investors for one-on-one meetings during the event. Recently, CarParts.com reported record Q1 2021 sales of $144.8 million, reflecting a 65% year-over-year increase, and a gross profit of $49.2 million, also up 65%. The company aims for a long-term sales growth of 20-25%. For details on investor meetings, contact Craig-Hallum or CarParts.com investor relations.

CarParts.com (NASDAQ: PRTS) reported strong Q1 2021 results, with a 65% year-over-year increase in net sales to $144.8 million and gross profit rising 65% to $49.2 million. However, the company faced a net loss of ($2.7 million), worsened from ($1.0 million) the previous year. The decline in adjusted EBITDA to $3.6 million, down from $4.3 million, was attributed to ramp-up costs at the Texas Distribution Center, adverse weather, and increased marketing expenditures. Plans for a 156,220 sq. ft. expansion of the Texas facility are underway to meet growing customer demand.

CarParts.com (NASDAQ: PRTS) has launched a national advertising campaign featuring Daytona 500 champion Michael McDowell. The campaign, which aims to enhance the auto parts shopping experience, includes TV, digital, and social media elements. It marks the company's third national campaign since 2020, part of its turnaround strategy. As part of this partnership, CarParts.com will serve as a primary sponsor for McDowell's No. 34 Ford Mustang during upcoming NASCAR races, including Kansas Speedway on May 2.

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.