Welcome to our dedicated page for Motorcar Parts news (Ticker: MPAA), a resource for investors and traders seeking the latest updates and insights on Motorcar Parts stock.
Motorcar Parts of America, Inc. (NASDAQ: MPAA) is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts and diagnostic testing equipment serving imported and domestic passenger vehicles, light trucks, and heavy-duty applications. This news page aggregates company-specific coverage so readers can follow developments that the company reports to investors and the market.
Company news frequently centers on financial results, including quarterly and annual earnings releases that discuss net sales, gross profit, operating income, cash flow from operating activities, and net bank debt levels. These updates often highlight record sales or gross profit figures for specific periods, as well as commentary on non-GAAP measures such as EBITDA as presented in company communications and related Form 8-K filings.
Motorcar Parts of America also issues news regarding capital allocation and share repurchases. The board of directors has authorized a share repurchase program, which has been increased to a total authorization of $57 million, and the company has reported repurchasing shares under this program, supported by cash generated from operations.
Other recurring news topics include guidance updates for upcoming fiscal years, commentary on industry dynamics in the non-discretionary automotive aftermarket, and information about index inclusion, such as the company’s addition to the Russell 3000 Index. The company also publishes announcements about investor conference participation, fireside chats, and automotive aftermarket symposiums, as well as notifications of upcoming earnings conference calls and webcasts.
Governance and leadership items, such as changes in general counsel roles or board resignations, appear in both press releases and related Form 8-K filings. Together, these news items provide context on Motorcar Parts of America’s operations, financial performance, governance, and strategic focus areas. Investors and observers can use this news feed to monitor how the company describes its progress in the non-discretionary automotive aftermarket and its activities in electric vehicle testing solutions.
Motorcar Parts of America (MPAA) announced that its subsidiary, D&V Electronics, has secured an order for an automated inverter test system from Taiwan’s Automotive Research & Testing Center (ARTC). This system will aid in the development of electric vehicles and technologies. The traction inverter is vital for converting direct current from batteries to alternating power for electric motors. The company anticipates growing demand for its testing technologies as the electric vehicle market expands.
Motorcar Parts of America (MPAA) announced that its subsidiary, D&V Electronics, received an order for an electric motor emulator from a major Chinese automotive company. This emulator is a vital part of a Power Hardware-In-the-Loop (p-HIL) test system, designed to validate drivetrain components. While financial terms remain undisclosed, this order reflects ongoing success for D&V's EV technology and positions them favorably within the electrification movement in the automotive sector.
Motorcar Parts of America, Inc. (MPAA) reported record net sales of $161.8 million for the fiscal 2022 third quarter, up 32% from the previous year. Net income decreased to $3.1 million or $0.16 per diluted share, impacted by $4.8 million in non-cash items and $3.7 million from supply chain disruptions. Despite challenges, gross profit rose 34.4% to $32.6 million. The company implemented measures to mitigate rising costs and resumed production in Malaysia. Net sales for the nine-month period increased 31% year-over-year, totaling $486.4 million.
Motorcar Parts of America (MPAA) will announce its fiscal 2022 third-quarter results on February 9, 2022. The announcement will be followed by an investor conference call at 10:00 a.m. PT hosted by CEO Selwyn Joffe and CFO David Lee. Investors can join through a live audio Web broadcast or by phone. A replay will be available after the call until February 16, 2022. MPAA specializes in remanufacturing and distributing automotive aftermarket parts and operates in the US, Canada, and Mexico.
Motorcar Parts of America (Nasdaq: MPAA) has appointed Patricia (Tribby) W. Warfield to its board of directors, enhancing board diversity and corporate governance. With 11 directors, 10 are now independent. Warfield brings vast experience from her roles at APC Automotive Technologies and Kaman Corporation, along with significant international exposure during her time at Gates Corporation. Her insight is expected to support the company's growth in automotive aftermarket products amid favorable market conditions.
Motorcar Parts of America (NASDAQ: MPAA) announced a realignment in its sales approach for the Canadian market. Niall Davidson, vice president of sales for Dixie Electric, will now oversee all automotive product lines in Canada. This strategic move aims to improve customer service and support growth initiatives, bolstered by a broader range of non-discretionary products launched since Davidson joined the company in 2019. The company specializes in remanufacturing and distributing aftermarket automotive parts across North America, with a global presence.
Motorcar Parts of America (Nasdaq: MPAA) reported record net sales for the fiscal 2022 second quarter, increasing 13.5% to $175.5 million, with a six-month increase of 29.8% to $324.6 million. However, net income for the first half decreased to $4.5 million from $12.2 million year-over-year, largely due to non-cash foreign exchange impacts. Gross margins fell to 20.5% versus 25.7% last year, impacted by higher COVID-related costs. The company continues to see strong demand for aftermarket parts despite ongoing supply chain challenges.
Motorcar Parts of America (MPAA) announced that its subsidiary, D&V Electronics, will provide a power hardware-in-the-loop inverter test system for NASA’s Dragonfly mission, which plans to explore Saturn’s moon Titan. The Dragonfly mission, part of NASA’s New Frontiers Program, aims to study Titan's environment by obtaining material samples. This partnership with NASA highlights D&V's capabilities in electric vehicle testing and its collaboration with Opal-RT and NI. The Dragonfly mission is scheduled for launch in 2027.
Motorcar Parts of America (MPAA) announced its fiscal 2022 second-quarter results will be revealed on November 9, 2021. CEO Selwyn Joffe and CFO David Lee will hold an investor conference call at 10:00 a.m. Pacific time to discuss financial outcomes and operations. Interested investors can access the call via www.motorcarparts.com or by phone. A playback will be available until November 16, 2021. MPAA specializes in automotive aftermarket parts and has facilities across the US, Canada, Mexico, Malaysia, China, and India.
NI (NASDAQ: NATI) has launched an Inverter Test System and formed a collaboration with D&V Electronics to enhance electric vehicle (EV) testing environments. The new system allows engineers to simulate EV powertrains and conduct hardware-in-the-loop (HIL) tests for traction inverter electronic control units (ECUs), improving testing scenarios. This partnership aims to streamline the testing process, enabling durability and thermal testing at full power safely and effectively, thereby accelerating EV innovation.