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Thursday, September 23, 2021

CarParts.com (PRTS) stock are rising after announcing their Q4 results, why?

BRIEF

CarParts.com (NASDAQ:PRTS), the stock show a hike in after-hours after announcing their Q4 results for the fiscal year that has ended on January 2. CarParts has been a leading company in the e-commerce automotive aftermarket that provides collision, engine, and performance parts and accessories. The company claims that they provide the best facilities to the drivers across the continental United States to find the right parts for their vehicles.


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The company has managed to design the most simplified form of website and sourcing network to make it easily accessible for the drivers whenever they need. The website of the company has options like vehicle selector also it is easy to navigate which makes the shopping experience more customer friendly and trustworthy.

Fourth Quarterly and Fiscal year results

The company has reported its Q4 results compared to the quarterly results of 2019 which are as follows:

  • The net sale of the company has increased for about 90% year over year making it to $119.7 million. (This also includes an extra week)
  • Net loss was $3.5million which is now $25.1 million in Q4 results of 2020. The Q4 results of 2019 also recorded a net loss of $23 million non-cash deferred tax valuation allowance.
  • In the Q4 results company has calculated an increase in Gross Profit for about 97% with gross margin up 110 basis points to 34.8%.
  • Beside this, the results show a decrease in Adjusted EBTIDA i-e $1.0 million which was $1.7 million in a year ago quarter.

Following are the company’s result for Fiscal year 2020:

  • The overall result for the whole year shows that the net sales have increased for about 58% in a year which is $443.9 million.
  • Gross Profit of the company has also increased 84% to $155.4 million, this includes the gross margin up 500 basis points to 35.0%.
  • Previously in Q4 results of 2019, Adjusted EBTIDA was $16.0 million which has now gone down to $4.5 million.
  • Lastly, the net loss was $1.5 million or $0.04 per share, whereas the net loss now is $31.5 million or $0.89 per share.

Conclusion

The company has maintained an overall efficient position in the market which is clear from its Q4 and fiscal year results, causing the rise in PRTS stock. For a long term investment investors should be more careful and cannot completely rely on these results.

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