CarParts.com Q1 2021 Earnings Report
Key Takeaways
CarParts.com announced record first-quarter results with a significant increase in net sales, driven by growth from its flagship website. Despite increased gross profit, the company reported a net loss due to higher operating expenses, including costs associated with the expansion of its distribution network and marketing investments.
Net sales increased by 65% year over year to $144.8 million.
Gross profit increased by 65% to $49.2 million, with gross margin up 10 basis points to 34.0%.
Net loss was ($2.7) million or ($0.06) per share, compared to a net loss of ($1.0) million or ($0.03) per share.
Adjusted EBITDA decreased to $3.6 million vs. $4.3 million in the year-ago quarter.
CarParts.com
CarParts.com
Forward Guidance
CarParts.com reaffirms its long-term goal of 20-25% compounded sales growth.