Shares of Motorcar Parts of America, Inc. (MPAA) are rising more than 13% Tuesday morning after the company turned to profit in the fourth quarter.
Motorcar Parts of America reported a profit of $1.46 million, or $0.07 per share in the fourth quarter, compared with a loss of $322,000, or $0.02 per share, a year ago, driven by increased product demand as well price hike.
Net sales for the quarter increased 18.8% to $194.73 million.
Looking forward, the company expects net sales for its fiscal year ending March 31, 2024 to be between $720 million and $740 million, a 5.4%-8.3% year-over-year growth.
Motorcar Parts of America is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts.
MPAA currently at $5.96, has traded in the range of $4.26 - $19.93 in the last 52 weeks.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.