Motorcar Parts of America (MPAA) Misses Q3 EPS by 5c, Revenues Miss

Motorcar Parts of America (NASDAQ: MPAA) reported Q3 EPS of $0.44, $0.05 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $122.6 million versus the consensus estimate of $140.07 million.

“We continued to experience solid product demand for the third quarter, which was impacted by supply chain challenges due to the global pandemic -- resulting in order delays of approximately $17 million, which are expected to be realized between the current fiscal fourth quarter and the first quarter of the new fiscal year. Notwithstanding, we reported significant increases in profitability for the quarter and nine-month period on a year-over-year basis, with strong positive cash flow while building inventory for increasing demand,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

“As vaccination programs gain momentum across the country, and life returns to more normal patterns, we expect further increased demand for our products,” Joffe added.

For earnings history and earnings-related data on Motorcar Parts of America (MPAA) click here.

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