Motorcar Parts of America (MPAA) reported disappointing Q3 earnings, with non-GAAP EPS of $0.12, missing expectations by $0.11, and revenue of $167.7 million, down 9.9% year-over-year. The company used $8.2 million in cash from operating activities due to inventory buildup, yet increased its stock buyback plan to $57 million. This signals management’s confidence in long-term value despite the current financial setbacks caused by weak market demand and competitive pressures.
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Motorcar Parts of America Reports Disappointing Q3 Earnings
Motorcar Parts of America (MPAA) reported disappointing Q3 earnings, with non-GAAP EPS of $0.12, missing expectations by $0.11, and revenue of $167.7 million, down 9.9% year-over-year. The company used $8.2 million in cash from operating activities due to inventory buildup, yet increased its stock buyback plan to $57 million. This signals management’s confidence in long-term value despite the current financial setbacks caused by weak market demand and competitive pressures.