Motorcar Parts Q3 net sales up 13% to $171.9M; operating income +170%; net loss $47.2M on $37.5M valuation allowance

MOTORCAR PARTS OF AMERICA INC

2024-Q3 EPS reported -$2.58 revenue$528,206,000

Net sales $171.9M (+13.2% YoY); gross margin 17.5% vs 13.8%; operating income $9.5M (+170.1%).
Net loss $47.2M ($2.40/sh) includes $40.4M non-cash items, primarily $37.5M deferred tax asset valuation allowance (operating metrics unaffected).
Generated $53.6M cash from operations; reduced net bank debt to $102.8M from $146.5M in nine months.
Nine-month sales record $528.2M (+8.2%); operating income $33.9M (+166.7%); net loss $50.6M ($2.58/sh).
Management cites brake-related product momentum and expects improved efficiencies as volume increases.

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 quarter ended December 31, 2023 results: revenue $171.9 million, net income net loss for the fiscal 2024 third quarter was $47.2 million, or $2.40 per share, EPS $2.40 per share.

Period: the fiscal quarter ended December 31, 2023
Revenue: $171.9 million
Net income: net loss for the fiscal 2024 third quarter was $47.2 million, or $2.40 per share
EPS: $2.40 per share
Result: reported results

Exact text from the filing

a strong increase in net sales, operating income and cash flow from operating activities. Key highlights for the fiscal third quarter. • Net sales increased 13.2 percent to $171.9 million. • Gross margin improved by 3.7 percentage points. • Gross profit increased 43.1 percent to $30.0 million. • Operating income increased 170.1 percent to $9.5 million. • The

View on SEC.gov

36 earnings releases filed in the last 30 days. Browse all earnings releases →

MOTORCAR PARTS OF AMERICA INC filing history →

Source: SEC EDGAR

accession 0001140361-24-006561

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.