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Jun 29, 2024
CarParts.com Q2 2024 Earnings Report
CarParts.com's second quarter performance in 2024 was marked by a decrease in net sales, gross profit, and adjusted EBITDA, alongside a net loss, despite progress in gross margin and efficiencies.
Key Takeaways
CarParts.com reported a decrease in net sales to $144.3 million, an 18% drop from the year-ago quarter. The company faced a net loss of $8.7 million, or $0.15 per share, compared to a net loss of $0.7 million, or $0.01 per share in the previous year. Gross profit decreased to $48.4 million, with a gross margin of 33.5%. Adjusted EBITDA was ($0.1) million, a decline from $6.3 million in the year-ago quarter.
Net sales decreased to $144.3 million, down 18% from the year-ago quarter.
Gross profit was $48.4 million, with a gross margin of 33.5%.
Net loss amounted to ($8.7) million, or ($0.15) per share.
Adjusted EBITDA was ($0.1) million.
Forward Guidance
For the full year 2024, the company expects net sales at the low end in the range of $600 million to $625 million and gross margin to be 33%, plus or minus 100 basis points.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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