Motorcar Parts of America reports record Q2 sales $175.5M; GAAP EPS $0.19 down from $0.78 YoY

MOTORCAR PARTS OF AMERICA INC

2022-Q2 EPS reported $0.23 revenue$324,582,000

Record Q2 net sales $175.5M (+13.5% YoY); six-month sales $324.6M (+29.8% YoY).
Net income $3.7M ($0.19 diluted EPS) vs $15.2M ($0.78) a year ago, impacted by $0.49 non-cash items.
Six-month net income $4.5M ($0.23 diluted EPS); before impacting items $21.8M vs $15.1M prior year.
Gross margin 20.5% vs 25.7%; pressured by COVID costs, supply chain, freight, and product relocation expenses.
Net debt $120.6M at Sep 30 vs $97.6M at Jun 30; operating cash flow -$19.6M in Q2.

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