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Jul 01, 2023
CarParts.com Q2 2023 Earnings Report
CarParts.com achieved its highest quarterly sales and continued year-over-year growth.
Key Takeaways
CarParts.com reported its highest quarterly sales in company history with $177 million in net sales, a slight increase year-over-year. However, the company experienced a net loss of $0.7 million compared to a net income of $4.1 million in the year-ago quarter. The company's cash position remains strong at $79.2 million with no revolver debt.
Net sales increased to $177.0 million, slightly up year-over-year.
Gross profit decreased 2% to $60.4 million, with a gross margin of 34.2%.
The company reported a net loss of $0.7 million, compared to a net income of $4.1 million in the previous year.
CarParts.com had $79.2 million in cash and no revolver debt at the end of the quarter.
Forward Guidance
The company will be executing on six key strategic pillars: eCommerce fundamentals, digital transformation, assortment and catalog, marketing and customer experience, supply chain and logistics, and innovation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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