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Motorcar Parts of America Reports Fiscal 2027 First Quarter Results

MPAA
  • Motorcar Parts of America reaffirmed fiscal 2027 net sales guidance of $780 million to $800 million and operating income guidance of $86 million to $91 million.
  • The company expects to add over $100 million in annualized net sales by fiscal 2027 end, targeting over $900 million in annualized net sales.
  • First quarter fiscal 2027 net sales were $168.0 million, down from $188.4 million in the prior year due to order timing, competitor bankruptcy inventory liquidations, and Canadian heavy-duty operations relocation.
  • Gross margin was 16.2 percent for the quarter, impacted by 2.4 percent in non-cash expenses, 1.6 percent in one-time items, and a 2 percent unfavorable impact from foreign currency fluctuations.
  • Operating income for the quarter was $3.5 million compared to $20.1 million in the prior year, with adjusted operating income at $11.2 million excluding non-cash and one-time items.
  • The company reported a net loss of $13.4 million ($0.71 per share) for the quarter, compared to net income of $3.0 million ($0.15 per share) in the prior year.
  • Significant new business commitments and opportunities are expected from the Centric Parts brand relaunch, which has estimated historical gross sales of up to $400 million.
  • The company renewed its loan agreement, extending the revolver credit facility maturity to August 2031, led by PNC Bank.
  • Net bank debt stood at $99.7 million as of June 30, 2026, calculated as an $118.8 million revolver loan less $19.1 million in cash.
  • During the quarter, the company repurchased 129,523 shares for $1.9 million, leaving $20.1 million remaining under the current authorization program.
  • Brake-related products are expected to gain momentum throughout the fiscal year, supporting margin accretion through increased capacity utilization.