Motorcar Parts Amer Down 9.92% To $8.63 After Earnings Miss

Motorcar Parts of America Inc (MPAA) missed earnings projections on 2/9/2024 for Q3 2024.

Motorcar Parts Amer's earnings came in at an EPS loss of $0.27 per share, 438% lower than estimates for an EPS of $0.08 per share. The firm's earnings are down 229% since reporting $0.21 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Motorcar Parts Amer revenue came in at a consensus of $182.2 million. Third-Quarter revenues missed estimates for $171.9 million by $10.3 million (6%). The company achieved 13% growth year-over-year compared to the firm's revenue of $151.8 million from the year-ago quarter. The lower earnings growth relative to revenue signals Motorcar Parts Amer has not been able to improve its profit margin.

The stock is down 9.92% to $8.63 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Motorcar Parts Amer a Bullish Sentiment Rank from InvestorsObserver.

Motorcar Parts Amer has performed a little below average during the past few months. Before the report, Motorcar Parts Amer received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm set a 52-week low on May 3, 2023 at $4.26 and set a 52-week high on February 9, 2023 at $14.92.

Motorcar Parts of America Inc is a us-based manufacturer, remanufacturer, and distributor of aftermarket automotive and light truck applications. It manufactures and distributes heavy-duty truck and industrial and agricultural application parts. It produces starter engines, alternators, hub assemblies, bearings, and master cylinders. The company supplies its products to the automotive aftermarket either under its own brands, as part of a private-label service, or to warranty replacement programs of automobile manufacturers. It primarily sells rotating electrical products, wheel hub products, brake master cylinders products in the us, of which a majority of the revenue is derived from the sales of rotating electrical products.