Motorcar Parts of America reports record Q2 sales $196.6M; net loss narrows to $2.0M

MOTORCAR PARTS OF AMERICA INC

2024-Q2 EPS reported -$0.17 revenue$356,344,000

Net sales $196.6M, up 14.0% YoY; record gross profit $41.1M, up 55.2%.
Net loss improved to $2.0M ($0.10/share) from $6.5M ($0.34/share) a year ago.
Cash from operating activities ~$15M; used liquidity to pay down $11.25M term loan.
Gross margin expanded to 20.9% from 15.4% on higher volume and price increases.
Interest expense rose $6.1M to $15.4M due to higher market rates.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MOTORCAR PARTS OF AMERICA INC reported the fiscal 2024 six-month period ended September 30, 2023 results: revenue $356.3 million, net income $3.4 million, EPS $0.17 per share.

Period: the fiscal 2024 six-month period ended September 30, 2023
Revenue: $356.3 million
Net income: $3.4 million
EPS: $0.17 per share
Result: reported results

Exact text from the filing

Net sales for the fiscal 2024 six-month period increased 5.9 percent to a record $356.3 million from $336.5 million. Net loss for the fiscal 2024 six-month period improved to $3.4 million, or $0.17 per share, from a net loss of $6.7 million, or $0.35 per share, a year ago.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MOTORCAR PARTS OF AMERICA INC reported the fiscal 2024 second quarter ended September 30, 2023 results: revenue $196.6 million, net income $2.0 million, EPS $0.10 per share.

Period: the fiscal 2024 second quarter ended September 30, 2023
Revenue: $196.6 million
Net income: $2.0 million
EPS: $0.10 per share
Result: reported results

Exact text from the filing

Net sales for the fiscal 2024 second quarter increased 14.0 percent to a record $196.6 million from $172.5 million in the prior year. Net loss for the fiscal 2024 second quarter improved to $2.0 million, or $0.10 per share, from a net loss of $6.5 million, or $0.34 per share, a year ago.

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Source: SEC EDGAR

accession 0001140361-23-052253

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