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Motorcar Parts Of America Inc (NASDAQ:MPAA) reported third-quarter FY22 sales growth of 32% year-on-year, to $161.8 million, beating the analyst consensus of $140.50 million.
- EPS of $0.16 compared with $0.44 last year
- Gross profit rose 34.4% Y/Y to $32.6 million, with a margin of 20.1% versus 19.8% a year earlier.
- The operating margin was 5.4%, and operating income for the quarter was $8.7 million. EBITDA of $11.9 million fell 36.7% Y/Y.
- The company held $10 million in cash and equivalents as of December 31, 2021. Net cash used in operating activities for Q3 was $2.2 million, and net debt was $122.9 million on December 31, 2021.
- "While industry dynamics remain positive, we continue to operate in a challenging supply chain environment. We have taken concrete measures to mitigate increases in freight rates, inflationary costs, and wage increases by implementing freight surcharges and price increases," said chairman and CEO Selwyn Joffe.
- Price Action: MPAA shares traded higher by 5.88% at $17.28 on the last check Wednesday.
