Motorcar Parts of America Reports Fiscal 2020 Fourth Quarter and Year-End Results
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Motorcar Parts of America (MPAA) Reports Q4 Revenues Miss
June 15, 2020 8:04 AM EDTMotorcar Parts of America (NASDAQ: MPAA) reported Q4 EPS of ($0.43), $0.98 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $150.7 million versus the consensus estimate of $151.35 million.
Notwithstanding the global pandemic, which began to impact the automotive aftermarket in mid-March, we achieved record sales and generated strong cash flow from operations. While the sharp decline in the value of the Mexican peso US dollar exchange rate resulted in large non-cash expenses, the underlying operating results for the company are strong, said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts... More
