Motorcar Parts of America, Inc. Provides Earnings Guidance for Its Fiscal Year Ending March 31, 2024
June 13, 2023 at 01:00 pm
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Motorcar Parts of America, Inc. provided earnings guidance for its fiscal year ending March 31, 2024. For the year, the company expects net sales to be between $720 million to $740 million, representing between 5.4 % and 8.3 % year-over-year growth. Operating income is expected to be between $60 million and $65 million, before the non-cash foreign exchange impact of lease liabilities and forward contracts, the non-cash impact of revaluation of cores on customers' shelves, and supply chain disruptions.
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts. Its automotive aftermarket parts include alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment. Its segments include the Hard Parts segment, which includes light duty rotating electric products, wheel hub products, and brake-related products; the Test Solutions and Diagnostic Equipment segment, which includes applications for combustion engine vehicles, test solutions and diagnostic equipment for the pre- and post-production of electric vehicles, and software emulation of power systems applications for the electrification of all forms of transportation; and the Heavy Duty segment, which includes non-discretionary automotive aftermarket replacement hard parts for heavy-duty truck, industrial, marine, and agricultural applications.
MOTORCAR PARTS OF AMERICA, INC. 
