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Dec 31, 2020
MPA Q3 2021 Earnings Report
Increased profitability, positive cash flow from operations, and continued debt reduction were reported.
Key Takeaways
Motorcar Parts of America reported increased profitability and positive cash flow despite $17 million in order delays due to supply chain challenges caused by the global pandemic. Net income increased significantly compared to the same period last year, and net debt was reduced.
Net sales were $122.6 million, impacted by COVID-19 related challenges.
Net income was $8.5 million, or $0.44 per diluted share, compared to $865,000, or $0.04 per diluted share, a year ago.
Cash generated from operating activities was $33.2 million.
Net debt was reduced by $27.8 million.
Forward Guidance
The company believes it is still not prudent to provide annual sales and gross margin guidance for fiscal 2021.
Positive Outlook
- Encouraged by continued strong customer demand for aftermarket parts.
- Industry is resilient.
- Continuing to execute strategic plans for growth and profitability.
- Guardedly optimistic about near- and long-term opportunities.
- An evolving supplier to the fast-growing electric vehicle and aerospace market.
Challenges Ahead
- Ongoing global pandemic.
- Near-term related considerations.
- Impact to sales by supply chain challenges.
- Other challenges related to COVID-19.
- Not prudent to provide annual sales and gross margin guidance for fiscal 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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