Motorcar Parts Stock Price, News & Analysis

Motorcar Parts of America (Nasdaq:MPAA) is set to participate in a fireside chat at the Gabelli Funds 45th Annual Automotive Aftermarket Symposium, scheduled for November 2, 2021, at 10:30 a.m. PT in Las Vegas.

This event coincides with the company’s presence at the Automotive Aftermarket Products Expo that same week. Investors can access the chat via the company’s investor relations section on their website at www.motorcarparts.com.

Motorcar Parts of America (MPAA) was honored with the Vendor of the Year Award for Professional Excellence by Advance Auto Parts at their 2021 Partner Growth Summit. This recognition highlights MPAA's commitment to quality and excellent service across various automotive product categories, including brake-related products. CEO Selwyn Joffe expressed enthusiasm for the company's future and ongoing collaboration with Advance Auto Parts. MPAA operates across the U.S., Canada, and Mexico, manufacturing and distributing a wide range of automotive aftermarket parts.

Motorcar Parts of America (Nasdaq:MPAA) announced a strategic distribution partnership between its subsidiary D&V Electronics and TECTRA a.s., aiming to strengthen its presence in the Czech Republic's testing solutions market. This partnership is expected to leverage D&V's advanced testing equipment for electric vehicles, aligning with the automotive industry's shift towards electrification. Both companies anticipate significant growth opportunities stemming from this collaboration, particularly in the rapidly evolving electric and autonomous vehicle sector.

Motorcar Parts of America (Nasdaq:MPAA) will host a fireside chat presentation on September 14, 2021 at 2:00 p.m. Eastern time during the 19th Annual CL King Best Ideas Conference, held virtually. A live audio webcast will be accessible at www.motorcarparts.com and archived for 30 days. The company specializes in automotive aftermarket parts, including alternators, starters, and brake components, serving the US, Canada, and Mexico with facilities worldwide.

Motorcar Parts of America (MPAA) reported record sales for Q1 fiscal 2022, achieving net sales of $149.0 million, a 56.3% increase from the prior year. Net income reversed to $861,000 from a $3.0 million loss last year. The company attributes growth to strong demand for aftermarket parts and strategic expansion, particularly in brake-related products and electric vehicle solutions. Despite challenges, including $5.3 million in COVID-related costs, gross profit improved to $23.6 million, indicating a 15.8% margin.

Motorcar Parts of America, Inc. (MPAA) announced it will release its fiscal 2022 first-quarter results on August 9, 2021. CEO Selwyn Joffe and CFO David Lee will host an investor conference call at 10:00 AM PT on the same day to discuss financial outcomes and operations. Interested investors can listen via a live audio Web broadcast or call in. The call will also be archived for later access. Motorcar Parts specializes in remanufacturing and distributing automotive aftermarket parts across North America, as well as providing electric vehicle testing solutions.

Motorcar Parts of America, Inc. (Nasdaq: MPAA) recently received AutoZone Mexico’s prestigious Extra Miler award for exceptional service at their Vendor Summit. This award honors suppliers who consistently exceed expectations. This follows a similar recognition at AutoZone’s U.S. Vendor Summit last month. Selwyn Joffe, CEO, emphasized the company’s commitment to product quality and customer service, highlighting the importance of training and marketing support to bolster AutoZone's growth. The company manufactures and distributes a wide range of automotive aftermarket parts across North America.

Motorcar Parts of America (MPAA) reported record sales of $168.1 million for Q4 FY2021, an increase of 11.5% year-on-year. Net income stood at $835,000, a turnaround from a loss of $8.2 million a year prior. For the full fiscal year, net sales slightly rose to $540.8 million, with a net income of $21.5 million compared to a loss of $7.3 million. Gross profit decreased to $32.1 million in Q4 and $109.5 million for the year, impacted by COVID-related costs and operational challenges. The company remains cautiously optimistic about future demand, particularly in the electric vehicle sector.

Motorcar Parts of America, Inc. (Nasdaq: MPAA) announced it received AutoZone’s Extra Miler award for exceptional service at AutoZone’s recent Vendor Summit. This award is given to select suppliers who consistently exceed expectations and overcome challenges. CEO Selwyn Joffe expressed pride in the award, emphasizing the company's commitment to product quality and customer service. Motorcar Parts is a key player in the automotive aftermarket, offering a range of parts and diagnostic equipment across North America and beyond.