CARPARTS.COM Reports Q2 FY2023 Revenue of USD 177 Million, Up 0.4% YOY
August 16, 2023
🌥️Earnings Overview
For the second quarter of FY2023, CARPARTS.COM ($NASDAQ:PRTS) reported total revenue of USD 177.0 million, representing a 0.4% increase over the same period last year. Net income for the quarter, however, dropped from USD 4.12 million to a net loss of USD 0.67 million.
Analysis
GoodWhale has conducted an analysis of CARPARTS.COM‘s fundamentals and found that it is a low risk investment when considering its financial and business aspects. GoodWhale has, however, detected two risk warnings in the company’s income sheet and balance sheet. To find out more information about these risk warnings, it is recommended that investors register with GoodWhale for more detailed analysis. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carparts.com. CARPARTS.COM_Reports_Q2_FY2023_Revenue_of_USD_177_Million_Up_0.4_YOY”>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. CARPARTS.COM_Reports_Q2_FY2023_Revenue_of_USD_177_Million_Up_0.4_YOY”>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. CARPARTS.COM_Reports_Q2_FY2023_Revenue_of_USD_177_Million_Up_0.4_YOY”>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. CARPARTS.COM_Reports_Q2_FY2023_Revenue_of_USD_177_Million_Up_0.4_YOY”>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 has reported its second quarter of FY2023 results, showing total revenues of USD 177.0 million which is a slight increase of 0.4% from the same period in the previous year. Unfortunately, net income has decreased significantly to USD -0.67 million from USD 4.12 million in the prior year. As a result, the stock price moved down on the same day.
Investing in CARPARTS.COM could be a risky proposition in the short-term due to the decrease in net income, but may be a good option for long-term investors as the company is still able to generate revenue and have experienced positive growth overall. Therefore, investors should assess their own risk tolerance and make their decision accordingly.
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