CARPARTS.COM Reports Q2 FY2023 Earnings with USD 177.0 Million in Total Revenue, 0.4% YOY Increase
August 7, 2023
☀️Earnings Overview
On August 2, 2023, CARPARTS.COM ($NASDAQ:PRTS) announced their Q2 FY2023 earnings results, including total revenue of USD 177.0 million, representing a 0.4% year-on-year increase. Nevertheless, their net income decreased from USD 4.12 million in the previous year to USD -0.67 million.
Analysis
GoodWhale has conducted a thorough analysis of CARPARTS.COM‘s financial and business wellbeing. After thorough review, it was determined that CARPARTS.COM is a low risk investment according to its Risk Rating in both financial and business aspects. However, GoodWhale has detected two risk warnings that have been issued in the income sheet and balance sheet. To access the full risk analysis, become a registered user on GoodWhale’s platform. Here you can get more information on CARPARTS.COM’s financial and business wellbeing, as well as other analyses of other companies. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carparts.com. More…
| Total Revenues | Net Income | Net Margin |
| 671.8 | -6.79 | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carparts.com. More…
| Operations | Investing | Financing |
| 76.27 | -9.35 | -2.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carparts.com. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 272.05 | 153.29 | 2.08 |
Key Ratios Snapshot
Some of the financial key ratios for Carparts.com are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.6% | -60.1% | -0.7% |
| FCF Margin | ROE | ROA |
| 9.9% | -2.4% | -1.0% |
Peers
CarParts.com Inc is an online retailer of aftermarket and OEM automotive parts and accessories. The company offers a wide range of products for all makes and models of cars, trucks, and SUVs. CarParts.com Inc competes with PARTS iD Inc, Advance Auto Parts Inc, Free Flow Inc, and other online and brick-and-mortar retailers of automotive parts and accessories.
– PARTS iD Inc ($NYSEAM:ID)
iD Inc is a market leader in providing innovative identification solutions. The company’s products are used in a variety of applications, including security, access control, time and attendance, event management, and asset tracking. iD Inc’s products are designed to meet the needs of businesses of all sizes and are backed by a team of experts who are dedicated to providing the highest level of customer service and support.
– Advance Auto Parts Inc ($NYSE:AAP)
Advance Auto Parts, Inc. operates as a retailer and distributor of automotive replacement parts and accessories in the United States, Puerto Rico, the Virgin Islands, and Canada. The company’s stores and branches offer a selection of brand name, original equipment manufacturer, and private label products. As of October 17, 2020, it operated 4,089 stores and 139 Worldpac branches. The company was founded in 1932 and is headquartered in Roanoke, Virginia.
– Free Flow Inc ($OTCPK:FFLO)
Flow Inc is a software company that specializes in providing solutions for managing and automating business processes. The company has a market cap of 12.92M as of 2022 and a return on equity of 121.08%. Flow Inc’s products are used by companies in a variety of industries, including healthcare, financial services, manufacturing, and retail. The company’s products are designed to help businesses automate and streamline their operations, improve efficiency, and reduce costs.
Summary
CARPARTS.COM reported their Q2 FY2023 earnings results on August 2 2023, showing total revenue of USD 177.0 million, a 0.4% year-over-year increase.
However, the company reported a net income of USD -0.67 million, compared to USD 4.12 million the previous year. This poor performance caused the stock price to drop the same day. Investors should take note that while revenue growth was present, it was not enough to offset the losses. As such, it would be wise for investors to carefully monitor CARPARTS.COM in the coming quarter and reassess whether or not to invest in their stock.
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