MPA Q1 2021 Earnings Report
Key Takeaways
Motorcar Parts of America reported a decrease in net sales for Q1 2021 to $95.4 million compared to $109.1 million in the same period last year. The company experienced a net loss of $3.0 million, or $0.16 per share, compared to a net loss of $6.2 million, or $0.33 per share, in the prior year.
Net sales for the fiscal 2021 first quarter were $95.4 million, down from $109.1 million year-over-year.
The company reported a net loss of $3.0 million, or $0.16 per share, for the quarter.
Cash generated from operating activities was $22.4 million during the three months ended June 30, 2020.
Gross profit for the quarter was $13.4 million, compared to $17.6 million in the same period last year.
MPA
MPA
Forward Guidance
Despite strong sales activity in June and July, and favorable industry reports indicating that sales of hard parts are gaining momentum, the company believes it is still not prudent to provide annual sales and gross margin guidance for fiscal 2021.