Motorcar Parts Stock Price, News & Analysis

Motorcar Parts of America (Nasdaq: MPAA) announced a strategic distribution partnership between its subsidiary D&V Electronics and Singapore's TME Systems Pte Ltd. This collaboration aims to enhance D&V's presence in Southeast Asia, capitalizing on its expertise in testing and diagnostic equipment for electric vehicles. Both companies anticipate significant growth opportunities in this rapidly evolving market. The announcement underscores the importance of commercial partnerships in Motorcar Parts' strategic growth initiatives, with no financial terms disclosed.

Motorcar Parts of America, Inc. (Nasdaq: MPAA) has appointed Jamy Rankin to its board of directors, enhancing its commitment to diversity and corporate governance. With this addition, the board comprises ten members, nine of whom are independent. Rankin brings extensive automotive aftermarket experience, having previously served as CEO of Ford Component Sales. Her academic achievements include degrees from the University of Pittsburgh and the University of Chicago, alongside numerous industry accolades. This strategic appointment is expected to contribute positively to the company's growth.

Motorcar Parts of America (Nasdaq: MPAA) launched a new Q&A section on its website to enhance investor understanding of the automotive aftermarket industry. Chairman Selwyn Joffe emphasized the company's commitment to regular updates in the investor relations resources section. Motorcar Parts specializes in remanufacturing automotive parts, including alternators, starters, and brake components, distributing them across North America. The company also designs test solutions for electric motors and similar products, with operations in several countries.

Motorcar Parts of America, Inc. (MPAA) reported its fiscal 2021 second quarter results with net sales of $154.7 million, up from $150.4 million year-over-year. Net income surged to $15.2 million, or $0.78 per diluted share, compared to $6.2 million a year ago. The company also generated $16.9 million in cash from operations. Despite strong performance, MPAA refrains from providing annual sales guidance due to ongoing global uncertainties. Additionally, the company is resuming its $21.3 million stock buy-back program.

Motorcar Parts of America (Nasdaq: MPAA) will release its fiscal 2021 second-quarter results on November 9, 2020. An investor conference call, led by CEO Selwyn Joffe and CFO David Lee, will be held at 10:00 a.m. Pacific Time to discuss these results and operational updates. Investors can access the call via a live audio Web broadcast or telephone, with an archive available afterward. The company is a key player in the automotive aftermarket, manufacturing and distributing various parts and testing solutions across North America and internationally.

Motorcar Parts of America, Inc. (Nasdaq:MPAA) will participate in a fireside chat on November 3, 2020, at 1:30 p.m. Eastern time during the Gabelli Funds 44^th Annual Automotive Aftermarket Symposium, hosted virtually. A live audio webcast of the chat will be available on the company’s website and archived for 30 days. The company specializes in remanufacturing, manufacturing, and distributing automotive aftermarket parts, serving markets across the U.S. and Canada, with facilities in various countries.

Motorcar Parts of America (Nasdaq: MPAA) has officially started brake caliper production at its new 370,000 sq. ft. facility in Tijuana, Mexico. This marks a significant milestone for the company as it expands its product offerings. The newly manufactured brake calipers are designed to match original equipment in both fit and performance. Featuring a zinc-dichromate finish for corrosion protection and new components for enhanced reliability, these calipers aim to provide comprehensive repair solutions for the automotive aftermarket.