Motorcar Parts of America (MPAA) Misses Q1 EPS by 8c, Revenues Beat
Motorcar Parts of America (NASDAQ: MPAA) reported Q1 EPS of ($0.16), $0.08 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $95.4 million versus the consensus estimate of $86.52 million.
“Notwithstanding the sharp drop in demand in April due to the global pandemic, the rebound of demand for our products for the balance of the quarter was better than expected -- reflecting sequential gains in monthly sales, with June exceeding the prior year,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.
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