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Dec 31, 2023
MPA Q3 2024 Earnings Report
Motorcar Parts of America reported results for the fiscal third quarter, reflecting increases in net sales, operating income and cash flow from operating activities.
Key Takeaways
Motorcar Parts of America reported a 13.2% increase in net sales to $171.9 million, a 43.1% increase in gross profit to $30.0 million, and a 170.1% increase in operating income to $9.5 million for the fiscal third quarter ended December 31, 2023. The company generated $53.6 million in cash from operating activities during the quarter.
Net sales increased 13.2 percent to $171.9 million.
Gross margin improved by 3.7 percentage points.
Gross profit increased 43.1 percent to $30.0 million.
Operating income increased 170.1 percent to $9.5 million.
MPA
MPA
Forward Guidance
The company expects sales volume to continue gaining momentum, benefiting from current extreme weather conditions and industry fundamentals. Margin improvement is expected through price increases and operational efficiencies. Enhanced cash flow is anticipated from working capital initiatives.
Positive Outlook
- Sales volume continuing to gain momentum.
- Ordering activity expected to benefit from current extreme weather conditions.
- Industry fundamentals continue to drive product demand.
- Margin improvement enhanced by multiple rounds of price increases.
- Improving overhead absorption as brake-related business gains further momentum.