MPAA

Motorcar Parts of America Introduces Additional Quality-Built Brake-Related Product Part Numbers to Catalog

Retrieved on: 
Monday, February 12, 2024
General Automotive, Automotive Manufacturing, Manufacturing, Automotive, Marketing, Part, MPAA, MPA, Catalog, Traction, QB

Motorcar Parts of America Inc.(Nasdaq: MPAA) today announced it has introduced expanded product coverage for its Quality-Built brake pad and brake rotor program, with more than 20 new part numbers covering an additional seven million vehicles in operation.

Key Points: 
  • Motorcar Parts of America Inc.(Nasdaq: MPAA) today announced it has introduced expanded product coverage for its Quality-Built brake pad and brake rotor program, with more than 20 new part numbers covering an additional seven million vehicles in operation.
  • The new part numbers are offered through QB, Quality-Built and Quality-Built Black Series brands powered by MPA, which serve the professional installer market.
  • A list of the new part numbers is available via the following link:
    “Our QB products continue to gain traction in the professional market and the new part number introductions highlight our commitment to moving quickly to develop, catalog, and distribute products to meet the demand,” said Jamie Cook, senior vice president of sales and marketing for Motorcar Parts of America.

Motorcar Parts of America Reports Results for Fiscal Third Quarter and Nine Months

Retrieved on: 
Friday, February 9, 2024
Public Relations, Investor Relations, Aftermarket, Automotive, Communications, Other Automotive, Automotive Manufacturing, General Automotive, Manufacturing, MPAA, GAAP, Absorption, Part, Weather

Net sales for the fiscal 2024 third quarter increased 13.2 percent to $171.9 million from $151.8 million in the prior year.

Key Points: 
  • Net sales for the fiscal 2024 third quarter increased 13.2 percent to $171.9 million from $151.8 million in the prior year.
  • Gross profit for the fiscal 2024 third quarter increased 43.1 percent to $30.0 million from $21.0 million a year earlier.
  • Gross margin for the fiscal 2024 third quarter was 17.5 percent compared with 13.8 percent a year earlier.
  • Operating income for the fiscal 2024 third quarter increased 170.1 percent to $9.5 million from $3.5 million in the prior year.

Motorcar Parts of America to Report Fiscal 2024 Third Quarter Results; Host Conference Call

Retrieved on: 
Tuesday, February 6, 2024
Automotive Manufacturing, Aftermarket, EV, Electric Vehicles, Aerospace, Automotive, Manufacturing, General Automotive, Performance & Special Interest, Off-Road Trucks & SUVs, Alternative Energy, Energy, Part, MPAA

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the company will issue results for its fiscal 2024 third quarter on Friday, February 9, 2024.
  • Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call the same day at 10:00 a.m. Pacific time to discuss the company’s financial results and operations.
  • For those who are not available to listen to the live broadcast, the call will be archived on Motorcar Parts of America’s website www.motorcarparts.com .
  • A telephone playback of the conference call will also be available from approximately 1:00 p.m. Pacific time on February 9, 2024 through 8:59 p.m. Pacific time on February 16, 2024 by dialing (800) 770-2030 (domestic) or (609) 800-9909 (toll) and using access code: 1545314.

Motorcar Parts of America Announces Senior Sales Executive Transition

Retrieved on: 
Thursday, January 18, 2024
Automotive Manufacturing, Manufacturing, Aftermarket, General Automotive, Automotive, Part, Marketing, MPAA

Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced the promotion of Jamie Cook to senior vice president of sales and marketing, effective immediately -- succeeding Rick Mochulsky who will transition to a new role as senior vice president of business development.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced the promotion of Jamie Cook to senior vice president of sales and marketing, effective immediately -- succeeding Rick Mochulsky who will transition to a new role as senior vice president of business development.
  • She joined Motorcar Parts of America in 2007 as national sales manager and has been involved in the automotive aftermarket industry since 1993.
  • Cook is a member of the Automotive Sales Council, an industry trade organization dedicated to the exchange of ideas and issues impacting the automotive aftermarket industry.
  • He is an industry veteran and has been an important mentor to the entire sales and marketing team.

Motorcar Parts of America Extends Credit Facility Maturity With PNC Bank

Retrieved on: 
Wednesday, December 13, 2023
General Automotive, Automotive Manufacturing, Manufacturing, Automotive, PNC, MPAA, PNC Financial Services, Part, Security (finance)

Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has extended the maturity date of the company’s $238.62 million revolver credit facility led by PNC Bank, N.A.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has extended the maturity date of the company’s $238.62 million revolver credit facility led by PNC Bank, N.A.
  • to December 2028, with enhancements that provide working capital flexibility, liquidity, and other favorable terms -- including opportunities to benefit from reduced interest rates.
  • Equally important, this extension reinforces our strong relationship with PNC and the bank lending syndicate,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.
  • Additional details concerning the amended credit facility agreement are available in a related Form 8-K filing.

Motorcar Parts of America Launches Initial Phase of Vendor Supply Chain Financing Program

Retrieved on: 
Tuesday, November 28, 2023
Data Management, Automotive Manufacturing, Supply Chain Management, Automotive, Technology, Manufacturing, General Automotive, Retail, Engineering, Machinery, Hardware, MPAA, Part, Fintech

Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has launched a vendor supply chain financing program designed to enhance payment terms and improve cash flow for both valued vendors and the company.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it has launched a vendor supply chain financing program designed to enhance payment terms and improve cash flow for both valued vendors and the company.
  • The platform will be administered by a leading FinTech company, which services suppliers in more than eighty countries in multiple currencies.
  • Motorcar Parts of America is engaging a syndicate of supply chain financing institutions to support the extension of terms for its accounts payable.
  • “The launch of this supply chain financing program complements our strategic focus on neutralizing working capital requirements and opportunities to increase cash flow.

Motorcar Parts of America Reports Record Results for Fiscal Second Quarter and Six Months

Retrieved on: 
Thursday, November 9, 2023
Aftermarket, Automotive, General Automotive, Automotive Manufacturing, Other Automotive, Manufacturing, EBITDA, Part, GAAP, Absorption, MPAA, Pharmaceutical industry

Motorcar Parts of America, Inc. (Nasdaq: MPAA) today reported record sales for its fiscal 2024 second quarter and six-month period ended September 30, 2023, with record gross profit and strong cash flow from operating activities.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq: MPAA) today reported record sales for its fiscal 2024 second quarter and six-month period ended September 30, 2023, with record gross profit and strong cash flow from operating activities.
  • Net sales for the fiscal 2024 second quarter increased 14.0 percent to a record $196.6 million from $172.5 million in the prior year.
  • Gross profit for the fiscal 2024 second quarter increased 55.2 percent to a record $41.1 million from $26.5 million a year earlier.
  • Gross margin for the fiscal 2024 second quarter was 20.9 percent compared with 15.4 percent a year earlier.

Motorcar Parts of America to Report Fiscal 2024 Second Quarter Results; Host Conference Call

Retrieved on: 
Monday, November 6, 2023
Aftermarket, Automotive, Automotive Manufacturing, General Automotive, Manufacturing, Performance & Special Interest, Off-Road Trucks & SUVs, Part, MPAA

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced the company will issue its fiscal 2024 second quarter results on Thursday, November 9, 2023.
  • Selwyn Joffe, chairman, president and chief executive officer, and David Lee, chief financial officer, will host an investor conference call the same day at 10:00 a.m. Pacific time to discuss the company’s financial results and operations.
  • The call will be open to all interested investors either through a live audio webcast at www.motorcarparts.com or live by calling (888) 440-5584 (domestic) or (646) 960-0457 (international).
  • For those who are not available to listen to the live broadcast, the call will be archived on Motorcar Parts of America’s website www.motorcarparts.com .

Motorcar Parts of America to Present at Gabelli Funds 47Th Annual Automotive Aftermarket Symposium

Retrieved on: 
Tuesday, October 24, 2023
General Automotive, Automotive Manufacturing, Manufacturing, Automotive, Automotive aftermarket, Part, Mario Gabelli, MPAA, Rare-earth element, Video game, Casino

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced it is scheduled for a fireside chat presentation at Gabelli Funds 47th Annual Automotive Aftermarket Symposium being held in Las Vegas on Tuesday, October 31, 2023 at 1:30 p.m. Pacific time.
  • The symposium coincides with the company’s participation at the Automotive Aftermarket Products Expo (AAPEX) also in Las Vegas the same week.

Motorcar Parts of America Reports Fiscal First Quarter Results

Retrieved on: 
Wednesday, August 9, 2023
Automotive Manufacturing, Manufacturing, General Automotive, Automotive, EV, Electric Vehicles, Optimism, EBITDA, Heat wave, GAAP, Collection, MPAA, Part, Pharmaceutical industry, Agriculture, Security (finance)

Motorcar Parts of America, Inc. (Nasdaq: MPAA) today reported results for its fiscal 2024 first quarter ended June 30, 2023, and reiterated the company’s full-year outlook.

Key Points: 
  • Motorcar Parts of America, Inc. (Nasdaq: MPAA) today reported results for its fiscal 2024 first quarter ended June 30, 2023, and reiterated the company’s full-year outlook.
  • The company noted that the fiscal second quarter is off to an excellent start based on record sales for a July month.
  • Results for the quarter were impacted by changes in product mix and lingering inflationary costs not fully absorbed by price increases.
  • The most recent price increases late in the fiscal first quarter will be realized throughout the fiscal 2024 second quarter.