Carparts Com Inc Stock Price, News & Analysis

CarParts.com (NASDAQ: PRTS) reported a 15% increase in net sales for Q4 2021, totaling $138.3 million, despite a 13-week quarter compared to 14 weeks last year. Gross profit rose 14% to $47.4 million, with a gross margin of 34.3%. However, the net loss expanded to $5.0 million from $3.5 million. For the fiscal year, sales grew 31% to $582.4 million, with a net loss of $10.3 million due to non-cash charges. The company aims for 20-25% compound revenue growth and an 8-10% EBITDA margin in the long term.

CarParts.com, Inc. (NASDAQ: PRTS) announced a conference call scheduled for March 1, 2022, at 5:00 p.m. ET, to discuss its fourth-quarter financial results for the period ending January 1, 2022. The call will be hosted by CEO Lev Peker and CFO David Meniane, featuring a live audio webcast on the company's website. Participants can join via a dial-in option or listen to a replay until March 15, 2022. CarParts.com has over 25 years of experience and aims to provide cost-effective auto parts through an efficient online platform.

CarParts.com (NASDAQ: PRTS) has appointed Ana Dutra to its Board of Directors as of January 10, 2022. Dutra has a rich background, having served as CEO of Korn/Ferry Consulting and currently heading Mandala Global Advisors. She brings extensive experience in addressing complex business issues and focuses on ESG and human capital. CEO Lev Peker expressed excitement about her appointment, emphasizing her role in driving continued growth for the company in 2022. CarParts.com, known for over 50 million parts delivered, aims to enhance the online shopping experience for auto parts.

CarParts.com (NASDAQ: PRTS) announced preliminary 2021 results showing fiscal year revenue of approximately $582 million, a 31% increase from 2020. The fourth quarter revenue is projected at $138 million, up 15% year-over-year. The company reported 8 consecutive quarters of growth, driven by its strategy of delivering the 'Right Part, Right Place, Right Time.' Two new distribution facilities are set to open in 2022, aiming to sustain revenue growth. Results are preliminary and not audited, highlighting the possibility of material changes.

CarParts.com (NASDAQ: PRTS) reported a 21% year-over-year increase in net sales, reaching $141.8 million in Q3 2021, with a gross profit of $47.3 million and a gross margin of 33.4%. However, the company faced a net loss of $4.7 million compared to a net income of $1.4 million last year. Adjusted EBITDA also decreased to $2.3 million from $5.1 million. Inventory rose to a record $131.8 million, highlighting ongoing investments in growth, despite a challenging financial quarter. Management maintains long-term targets of 20-25% revenue growth.

CarParts.com, Inc. (NASDAQ: PRTS) will host a conference call on November 2, 2021, to discuss its third-quarter financial results for the period ending October 2, 2021. The results will be shared in a press release before the call, which will feature CEO Lev Peker and CFO David Meniane. The call will start at 5:00 PM ET and will be accessible via audio webcast. Interested parties can listen live or access a replay on the Company's website.

Michael McDowell and the No. 34 CarParts.com team are striving to make history for Front Row Motorsports (FRM) as they approach the Las Vegas Motor Speedway. This season, the team has achieved five top-10 finishes, two top-five finishes, and a Daytona 500 championship. McDowell is 43 points behind the 15th position but remains hopeful for further achievements in the upcoming races. CarParts.com's continuous support underlines the team's ambitions.

CarParts.com will be in the spotlight as driver Michael McDowell returns to the Daytona International Speedway following his Daytona 500 victory. The team, featuring the No. 34 Ford Mustang, will also see PowerStop as a major associate sponsor. This race is crucial as it leads into the NASCAR Playoffs. McDowell expressed confidence in their new car's performance, building on the momentum from their Daytona win. The partnership with PowerStop continues to strengthen, enhancing visibility for CarParts.com and its services.

CarParts.com reported a strong second quarter for 2021, with net sales increasing 32% year-over-year to $157.5 million. The gross profit rose 31% to $53.3 million, despite a slight decline in gross margin to 33.9%. Net income improved to $2.1 million, or $0.04 per share, compared to $1.6 million last year. The company also announced a $30 million stock repurchase plan and is expanding its distribution network to enhance operational capacity. Management maintains a long-term revenue growth target of 20-25%.