TORRANCE, Calif., Oct. 29, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the third quarter ended September 28, 2024. Third Quarter 2024Summary vs. Year-Ago Quarter Net sales decreased to $144.8 million, down 13% from the year-ago quarter. Gross profit of $51.0 million vs. $54.8 million. Gross margin of 35.2%, up from 32.9% from the year-ago ...

Release Date: July 30, 2024 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points CarParts.com Inc (PRTS, Financial) achieved a sequential improvement in product margins, reaching 54%, up 210 basis points from Q1. The company's mobile app has gained significant traction, with over 450,000 downloads, doubling since the beginning of the year. CarParts.com Inc (PRTS) launched its first comprehensive brand campaign, aiming to enhance brand awareness ...

TORRANCE, Calif., Oct. 8, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) will hold a conference call on Tuesday, October 29, 2024 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its financial results for the third quarter ended September 28, 2024. The results will be reported in a press release prior to the call. CarParts.com, Inc. CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker will host the conference call live via an audio webcast, followed by a question and answer pe ...

CarParts.com, Inc. (NASDAQ:PRTS) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET Company Participants Tina Mirfarsi - Senior Vice President of Global Communications & Culture David Meniane - Chief Executive Officer Ryan Lockwood - Chief Financial Officer Michael Huffaker - Chief Operating Officer Conference Call Participants Ryan Sigdahl - Craig-Hallum Capital Group Ryan Meyers - Lake Street Capital Markets. Operator Good afternoon. [Operator Instructions] Please note this call is being recorded. ...

CarParts.com Reports Second Quarter 2024 Results TORRANCE, Calif. – July 30th, 2024 – CarParts.com, Inc. (NASDAQ: PRTS), a leading eCommerce provider of automotive parts and accessories, and a premier destination for vehicle repair and maintenance needs, is reporting results for the second quarter ended June 29, 2024. Second Quarter 2024Summary vs. Year-Ago Quarter ● Net sales decreased to $144.3 million, down 18% from the year-ago quarter. ● Gross profit of $48.4 million vs. $60.4 million, with gross margi ...

Core Insights - CarParts.com, Inc. reported a net sales decrease of 18% year-over-year, totaling $144.3 million in Q2 2024, primarily due to price increases and reduced consumer demand [3][19][21] - The company aims to achieve sustainable growth with a target of 6-8% Adjusted EBITDA margin and improved free cash flow generation in the medium term [3][45] - Adjusted EBITDA for Q2 2024 was ($0.1) million, a significant decline from $6.3 million in the same quarter last year [5][19] Financial Performance - Gross profit for Q2 2024 was $48.4 million, down from $60.4 million, with a gross margin of 33.5%, reflecting a 70 basis point decrease year-over-year but an improvement from 32.4% in Q1 2024 [19][21] - The net loss for the quarter was ($8.7) million, or ($0.15) per share, compared to a net loss of ($0.7) million, or ($0.01) per share in the prior year [19][22] - Total operating expenses decreased to $57.1 million from $61.3 million year-over-year [4] Strategic Outlook - The company is focusing on enhancing gross margins and targeting more profitable customers through updated pricing and marketing strategies [20][45] - For the full year 2024, CarParts.com expects net sales to be in the range of $600 million to $625 million, with a gross margin target of approximately 33% [46] - The CEO expressed confidence in the company's roadmap and opportunities within the $400 billion automotive aftermarket market [45]

Michael Huffaker, CarParts.com Chief Operating Officer, highlighted the significance of the new facility saying, "This building will serve as our West Coast flagship, housing between 80% to 90% of our product assortment. With its advanced technology, it efficiently handles both conveyable and non-conveyable items, enabling faster order fulfillment and shipping." "Our focus has always been on understanding and meeting our customers' needs, and our new Las Vegas fulfillment center is a testament to that," add ...

TORRANCE, Calif., July 18, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS), a technologydriven eCommerce company offering over 1 million high-quality automotive parts and accessories, today announced the appointment of strategic marketing leader Christina Thelin as Chief Marketing Officer (CMO). She will serve as a member of CarParts.com's leadership team, reporting directly to CEO David Meniane. Thelin will oversee product and brand marketing, performance marketing, loyalty marketing, creative, and ...

Company Overview - CarParts.com, Inc. is a technology-driven eCommerce company that offers over 1 million high-quality automotive parts and accessories [6] - The company has been operating for over 25 years and has established itself as a premier destination for drivers seeking repair and maintenance solutions [6] - CarParts.com is headquartered in Torrance, California [8] Business Model and Commitment - The company places the customer at the forefront of its operations, evident in its easy-to-use, mobile-friendly website and app [6] - CarParts.com aims to simplify the automotive repair process, eliminating uncertainty and stress associated with vehicle maintenance [6] - The company is committed to affordability and customer satisfaction, ensuring swift delivery of top-quality parts from leading brands across the nation [6] Upcoming Events - CarParts.com will hold a conference call on July 30, 2024, at 2:00 p.m. Pacific Time to discuss its financial results for the second quarter ended June 29, 2024 [4] - The results will be reported in a press release prior to the call [4] - The conference call will be hosted by CEO David Meniane, CFO Ryan Lockwood, and COO Michael Huffaker, followed by a question and answer period [5]

Today, CarParts.com proudly debuts its first major campaign in over two decades. The future of DIY car care is here with CarParts.com. The brand's new campaign, "Now That's My Speed," showcases how easy it is to access over 1 million parts at your fingertips with the CarParts.com app. "Our customers have always been at the center of our business," said David Meniane, Chief Executive Officer of CarParts.com. "This campaign was developed using extensive testing to ensure our message resonates deeply with our ...