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Sep 28, 2024
CarParts.com Q3 2024 Earnings Report
CarParts.com's third quarter results for 2024 were reported, showing a decrease in net sales but an increase in gross margin.
Key Takeaways
CarParts.com reported a decrease in net sales to $144.8 million, a net loss of $10.0 million, and an adjusted EBITDA of ($1.2) million. However, the gross margin increased to 35.2%.
Net sales decreased to $144.8 million, a 13% decrease year-over-year.
Gross profit was $51.0 million, compared to $54.8 million in the year-ago quarter.
Gross margin increased to 35.2%, up from 32.9% in the prior year.
Net loss was ($10.0) million, or ($0.17) per share.
CarParts.com
CarParts.com
Forward Guidance
The Company is narrowing and lowering our full year net revenue guidance by $5 million to $595 million to $600 million; however, the Company is narrowing our expected gross margin guidance to the high end of the range, from 32%-34% to 33%-34%.