Benzinga | Jun 14, 2021 10:23AM EDT

Motorcar Parts Beats On Q4 Earnings, Doesn't Provide Guidance

* Motorcar Parts of America Inc (NASDAQ:MPAA) reported fourth-quarter FY21 sales of $168.1 million, up 11.5% year-on-year, beating the analyst consensus of $153.3 million. FY21 sales were $540.8 million, a 1% increase Y/Y.

* Results were impacted by COVID-19 expenses related to safety, health initiatives, and incrementally higher freight costs, amounting to about $2.8 million on a pre-tax basis.

* Operating income was $5.47 million, and the operating margin stood at 3.2%.

* EBITDA of $8.5 million saw a turnaround from a loss of $(2.95) million in the year-ago quarter.

* Adjusted EPS increased 25.42% Y/Y to $0.74, beating analyst consensus of $0.64.

* Cash and equivalents amounted to $15.5 million at the end of Q4. The company used $16.4 million in operating cash flow.

* Guidance: The company declined to provide guidance due to uncertainties arising from the ongoing global pandemic.

* Price action: MPAA shares are trading higher by 2.88% at $23.97 on last check Monday.