Welcome to our dedicated page for Carparts Com news (Ticker: PRTS), a resource for investors and traders seeking the latest updates and insights on Carparts Com stock.
CarParts.com, Inc. (NASDAQ: PRTS) is a technology-led ecommerce company in the automotive aftermarket, and this news page aggregates its latest corporate announcements, earnings updates, and strategic developments. The company sells over 1 million automotive parts and accessories online, focusing on repair, maintenance, and upgrade needs for drivers across its website, mobile app, and marketplace channels.
Visitors to this page can review quarterly earnings press releases, where CarParts.com reports net sales, gross profit, net loss, and Adjusted EBITDA, along with commentary on marketing spend, product mix, and operational efficiency. These releases also explain the company’s use of non-GAAP metrics such as Adjusted EBITDA and provide reconciliations to GAAP results.
The news feed also covers strategic transactions and partnerships, including the 2025 strategic investment from ZongTeng Group, A-Premium, and CDH Investments. Company press releases describe how these partners contribute logistics capabilities, expanded product assortments, and capital, as well as related commercial agreements and governance arrangements.
Governance and leadership updates appear here as well, such as board transitions linked to the strategic investment and executive changes disclosed in Form 8-K filings and accompanying press releases. Investors can also find notices about conference calls for first, second, and third quarter results, including webcast details and replay availability.
For anyone tracking PRTS, this page provides a centralized view of CarParts.com’s operational, financial, and strategic news, from distribution network changes and cost initiatives to membership offerings like CarParts+ and Roadside Assistance. Bookmark this feed to follow how management communicates performance, capital structure decisions, and partnerships that shape the company’s role in online automotive parts retail.
CarParts.com (NASDAQ: PRTS) has appointed Michael Huffaker as Chief Operating Officer, effective immediately. Huffaker, previously at Amazon Fresh Grocery, brings extensive retail experience and a focus on enhancing operational efficiencies and customer experience. CarParts.com has reported 11 consecutive quarters of double-digit revenue growth, affirming its commitment to a customer-centric model. Huffaker aims to identify opportunities for improved delivery speed, safety, and reliability, aligning with the company's growth strategy.
CarParts.com reported a record third quarter sales of $164.8 million, a 16% increase year-over-year, marking the 11th consecutive quarter of double-digit sales growth. Gross profit rose 19% to $56.1 million, with gross margin also improving to 34.1%. The company reported a net loss of ($0.9 million), significantly less than the previous year's ($4.7 million). Additionally, adjusted EBITDA improved to $6.3 million from $2.3 million the year before. With a cash balance of $16.7 million and manageable debt levels, management expresses confidence in self-funding future growth.
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.