MPAA earnings analysis
What we found in MPAA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Motorcar Parts of America reported fiscal 2027 first-quarter revenue of $168.021 million and EPS of negative $0.34, missing consensus revenue of $183.236 million and EPS of $0.17. The filing does not provide sufficient current-period data to quantify gross margin, operating margin, free cash flow, balance-sheet changes, or segment revenue. Management nevertheless reaffirmed fiscal 2027 sales guidance of $780 million-$800 million and operating income guidance of $86 million-$91 million, while the company remains subject to a $24.325 million fiscal-year limit on dividends and repurchases.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue and EPS missed estimates
- Fiscal 2027 first-quarter revenue was $168.021 million, below the $183.236 million consensus estimate, while reported EPS was negative $0.34 versus the $0.17 estimate.
- Full-year outlook reaffirmed
- Management reaffirmed fiscal 2027 net sales guidance of $780 million-$800 million and operating income guidance of $86 million-$91 million.
- Shareholder-return capacity remains
- The Credit Facility permits up to $24.325 million of dividends and share repurchases during fiscal 2027, subject to pro forma compliance with amended covenants.
- Repurchase program remains active
- The company repurchased 129,523 shares in June at an average price of $14.89, with $20.143 million remaining under the authorized repurchase program as of June 30, 2026.
- Disclosure controls effective
- Management concluded that disclosure controls and procedures were effective as of June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Material quarterly earnings miss
- Revenue of $168.021 million was $15.215 million below consensus of $183.236 million, and EPS was negative $0.34 versus the $0.17 estimate, highlighting execution and demand-timing risk.
- Covenant-constrained capital returns
- The company has only $20.143 million remaining under its repurchase authorization, while the Credit Facility limits fiscal 2027 dividends and repurchases to $24.325 million subject to covenant compliance.
- Existing risks remain unchanged
- Item 1A states that there were no material changes to the risk factors in the March 31, 2026 Form 10-K; accordingly, the filing reports 0 material risk-factor updates rather than removing existing risks.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.34
What they said about what is next.
The company reaffirmed fiscal 2027 net sales guidance of $780 million-$800 million and operating income guidance of $86 million-$91 million. Management also expects more than $100 million of additional annualized net sales by fiscal year-end, implying annualized sales above $900 million.
The filing reads worse than the one before it.
What came before.
- 10-K · June 8, 2026
- Motorcar Parts of America, Inc. demonstrated strong financial performance in fiscal 2026, achieving a net sales increase of 4.3% to a record $789.8 million, and a significant turnaround with net income of $12.4 million…
- 10-Q · February 9, 2026
- Motorcar Parts of America, Inc. reported lower net sales and earnings in its Q3 fiscal 2026 results compared to the same period last year, driven largely by reduced orders from a major customer. The company's gross and…
- 10-Q · November 10, 2025
- Motorcar Parts of America, Inc. reported a strong revenue growth of 6.4% year-over-year in Q2 2026, reaching $221.5 million despite a decline in gross margin. The decrease in EPS to -$0.11 reflects ongoing cost…
- 10-Q · August 11, 2025
- Motorcar Parts of America, Inc. reported solid financial results for Q1 2026, with revenue reaching $188.36 million, representing a 10.9% increase compared to $169.89 million in Q1 2025. Gross profit margin improved to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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