Carparts Com Inc Stock Price, News & Analysis

CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on November 9, 2022, at 2:00 p.m. PT to discuss its third-quarter financial results ending October 1, 2022. CEO David Meniane and CFO Ryan Lockwood will lead the call, followed by a Q&A session. Participants need to pre-register to access the call. A live audio webcast will be available on the company's investor relations page, with a replay archived afterward. This event reflects the company's ongoing commitment to transparency with its stakeholders.

CarParts.com reported record sales of $176.2 million for Q2 2022, reflecting a 12% year-over-year increase and marking the 10th consecutive quarter of sales growth. Net income rose to $4.1 million, with Adjusted EBITDA remaining steady at $8.3 million. The gross profit increased by 16%, reaching $61.9 million, while gross margin improved to 35.1%. The company also secured a $75 million credit facility, extendable to $150 million, with growth projections for the second half of 2022 anticipated to be in double digits.

CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on August 2, 2022, at 2:00 p.m. PT to discuss its Q2 financial results for the period ending July 2, 2022. CEO David Meniane and CFO Ryan Lockwood will lead the call, which will include a Q&A session. Interested participants must pre-register through an online link to receive dial-in information. A live webcast will be available on the company's investor relations page, with an archive for later access.

CarParts.com (PRTS) announced a new five-year asset-based revolving credit facility with JPMorgan Chase, replacing its previous credit agreement. The facility provides a renewed lender commitment of $75 million, expandable up to $150 million. The credit line is currently undrawn, allowing for financial flexibility to support strategic initiatives. The company reported a record $166 million in Q1 2022 revenue, representing an 80% increase over two years. Management expressed optimism regarding growth potential despite economic challenges.

CarParts.com (PRTS) reported a record quarterly sales of $166.1 million for Q1 2022, marking a 15% year-over-year increase and an 80% increase over two years. The gross profit rose by 24% to $61.2 million, with a gross margin of 36.8%. Net income was $2.1 million, a turnaround from a net loss of $2.7 million last year. Adjusted EBITDA increased to $9.4 million, up from $3.6 million. The company also reported a cash balance of $25 million and $5 million in revolver debt.

CarParts.com (NASDAQ: PRTS) has appointed Kals Subramanian as Chief Technology Officer, effective April 18, 2022. This appointment marks the first executive hire under newly appointed CEO David Meniane. Subramanian joins from Lowe's and has a strong background in eCommerce technology from Best Buy and Target. CEO Meniane highlighted Subramanian's expertise as crucial for advancing the company's technological initiatives. Additionally, former CTO Sanjiv Gomes transitions to Chief Information Officer, focusing on engineering. The company aims to disrupt the auto parts and repair industry by enhancing innovation and technology.

CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on May 3, 2022, to discuss its financial results for the first quarter ending April 2, 2022. Incoming CEO David Meniane and incoming CFO Ryan Lockwood will lead the call. Interested participants can access the live call through an audio webcast on the company's website or dial in using the provided numbers. A replay will be available until May 17, 2022. CarParts.com specializes in delivering auto parts, boasting over 50 million parts delivered within 25 years.

CarParts.com (NASDAQ: PRTS) has announced the termination of its "at-the-market" equity offering program effective March 18, 2022. The company reports no shares sold under this program. In light of its current liquidity, which includes inventory and an undrawn line of credit, management remains optimistic about executing its business strategy. Notably, they have a $30 million stock repurchase plan with $29.5 million remaining, having repurchased 40,000 shares to date.

CarParts.com (NASDAQ: PRTS) announced significant leadership changes effective April 18, 2022. COO & CFO David Meniane will become CEO, while Ryan Lockwood will take over as CFO. Former CEO Lev Peker will step down on April 15, 2022, to pursue other opportunities. Under Meniane's leadership, CarParts.com has seen growth, achieving its most successful year in 2021 and eight consecutive quarters of sales growth. The company focuses on improving customer experience and expansion within the $300 billion auto parts industry.