Motorcar Parts of America reported an 11% drop in quarterly net sales and swung to a loss, missing Wall Street estimates, as close-out sales from a competitor's bankruptcy and the timing of customer orders weighed on results. Net sales for the fiscal first quarter came in at $168 million, $15 million below the consensus estimate, while the company posted a loss of $0.71 per share compared to a profit of $0.15 a year earlier and $0.92 worse than expected. The company reaffirmed its fiscal 2027 targets, expecting full-year net sales between $780 million and $800 million, with a midpoint of $790 million that is below the $800 million consensus, and operating income of $86 million to $91 million. Motorcar Parts of America also anticipates adding $100 million in annualized net sales by fiscal year-end from significant new business commitments and the relaunch of the Centric Parts brand. Shares fell as much as 26% at Monday's open.
Motorcar Parts of America IncNet sales fell 11% due to competitor's bankruptcy close-out sales and order timing, missing estimates and swinging to a loss.
