MOTORCAR PARTS OF AMERICA Reports First Quarter FY2024 Earnings Results on June 30 2023
August 11, 2023
🌥️Earnings Overview
MOTORCAR PARTS OF AMERICA ($NASDAQ:MPAA) reported total revenue of USD 159.7 million for the first quarter of FY2024 ending June 30 2023, a decline of 2.6% from the same period in the prior year. Net income for the quarter was USD -1.4 million, a decrease from the prior year’s figure of -0.2 million.
Market Price
The company also reported strong operating leverage and margin expansion driven by cost optimization initiatives and higher production efficiencies. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MPAA. More…
| Total Revenues | Net Income | Net Margin |
| 678.79 | -5.44 | -2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MPAA. More…
| Operations | Investing | Financing |
| -41.24 | -2.8 | 45.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MPAA. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.06k | 734.75 | 16.51 |
Key Ratios Snapshot
Some of the financial key ratios for MPAA are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.1% | 10.4% | 5.8% |
| FCF Margin | ROE | ROA |
| -6.5% | 7.7% | 2.3% |
Analysis
GoodWhale has conducted an analysis of MOTORCAR PARTS OF AMERICA’s wellbeing, and the results are presented below. According to our Star Chart, MOTORCAR PARTS OF AMERICA has a low health score of 3/10 when it comes to cashflows and debt, indicating that the company is less likely to safely ride out any crisis without risking bankruptcy. We classify MOTORCAR PARTS OF AMERICA as a ‘rhino’ type of company, which we define as firms that have achieved moderate revenue or earnings growth. When considering what type of investors may be interested in such a company, it is important to recognize that MOTORCAR PARTS OF AMERICA is strong in medium assets, growth, and profitability, but weak in dividends. Investors looking for companies with strong revenue and earnings growth potential will likely be drawn to MOTORCAR PARTS OF AMERICA. However, those seeking a reliable dividend may look elsewhere. More…
Peers
The competition between Motorcar Parts of America Inc and its competitors is fierce. India Motor Parts & Accessories Ltd, Solid Automotive Bhd, and Dorman Products Inc are all major players in the automotive parts and accessories industry. Each company is striving to gain market share and improve their bottom line. Motorcar Parts of America Inc is no different. The company is constantly innovating and expanding its product line in order to stay ahead of the competition.
– India Motor Parts & Accessories Ltd ($BSE:590065)
With a market cap of 9.47B as of 2022, India Motor Parts & Accessories Ltd has a ROE of 3.96%. The company manufactures and sells a variety of motor parts and accessories for cars, trucks, and other vehicles. It has a wide array of products that includes engine parts, suspension parts, electrical parts, and more. The company also provides services such as repairs and maintenance.
– Solid Automotive Bhd ($KLSE:5242)
Solid Automotive Bhd is a leading manufacturer of automotive parts and accessories in Malaysia. The company has a market capitalization of 96.08 million as of 2022 and a return on equity of 4.74%. Solid Automotive is a publicly traded company listed on the Bursa Malaysia Stock Exchange. The company’s products include engine parts, suspension parts, body parts, and electrical parts.
– Dorman Products Inc ($NASDAQ:DORM)
Dorman Products Inc is a leading supplier of original equipment dealer “exclusive” automotive and heavy duty truck parts. With over 150,000 part numbers in stock, Dorman has the automotive and heavy duty aftermarket covered. Dorman’s OE replacement parts are available for all major vehicle systems, including brake, chassis, cooling, drivetrain, electrical, engine, fuel, lighting, steering, suspension, and transmission.
Summary
MOTORCAR PARTS OF AMERICA’s earnings results for the first quarter of FY2024 revealed a decrease in total revenue, dropping 2.6% from the same period in the prior year. Net income reported a greater decrease, from -0.2 million to -1.4 million. Consequently, the stock price of MOTORCAR PARTS OF AMERICA moved down on the same day.
Investors should look into the company’s ability to adjust and bring back positive growth in order to make informed decisions on investing in the company. It is also important to consider other factors such as the company’s financial stability and market competitors when making an investing decision.
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