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Sep 26, 2020
CarParts.com Q3 2020 Earnings Report
CarParts.com achieved record results driven by significant e-commerce sales growth and margin expansion
Key Takeaways
CarParts.com reported a strong Q3 2020 with net sales increasing by 69% to $117.4 million and gross profit more than doubling to $43.1 million. Net income significantly improved to $1.4 million, and the company successfully completed a public equity offering of $60.5 million.
Net sales increased 69% year-over-year to $117.4 million.
Gross profit more than doubled to a record $43.1 million.
Gross margin expanded 620 basis points to 36.7%.
Net income improved significantly to $1.4 million or $0.03 per diluted share.
CarParts.com
CarParts.com
Forward Guidance
The company will work to further optimize both back-end and customer-facing operations, expand inventory and fulfillment network capabilities, and remain financially disciplined when deploying capital.
Positive Outlook
- Optimize back-end operations
- Optimize customer-facing operations
- Expand inventory
- Expand fulfillment network capabilities
- Remain financially disciplined when deploying capital