secwatch.observer — SEC 8-K summary
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Issuer:     CarParts.com, Inc. (PRTS)
CIK:        0001378950
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001378950-23-000028
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarParts.com Q1 net sales up 6% to $175.5M; net income falls to $1.1M
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- Net sales $175.5M (+6% YoY); gross profit $62.6M (+2%); gross margin 35.6% (down 120 bps on freight).
- Net income $1.1M ($0.02 EPS) vs $2.1M ($0.04 EPS) in prior-year quarter; Adjusted EBITDA flat at $9.4M.
- Cash balance $49.3M, no revolver debt or trade LCs, vs $18.8M cash at year-end 2022.
- CEO cites 13th consecutive quarter of growth; plans to drive operating improvements and expand assortment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1378950/000137895023000028/0001378950-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1378950/000137895023000028/prts-20230502x8k.htm
  HTML page:      https://secwatch.observer/filing/0001378950-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer