CarParts.com Gains After Q3 Bottom-Line Beat

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  • CarParts.com Inc PRTS reported third-quarter FY22 sales growth of 16% year-on-year, to $164.80 million, missing the consensus of $168.73 million.
  • The gross profit rose 19% Y/Y to $56.1 million, and the gross margin expanded 70 basis points to 34.1%.
  • The operating expenses climbed 9.7% to $56.7 million.
  • The operating loss for the quarter narrowed to $(0.6) million versus a loss of $(4.3) million.
  • The company held $16.7 million in cash and equivalents as of October 1, 2022.
  • Adjusted EBITDA for the quarter was $6.3 million versus $2.3 million last year.
  • EPS loss of $(0.02) beat the analyst consensus of $(0.06).
  • Price Action: PRTS shares are trading higher by 19.60% at $4.82 in premarket on the last check Thursday.
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