CarParts.com Expects FY24 Net Sales At Low End In Range Of $600M - $625M (Est $604.659M) And Gross Margin To Be 33%, Plus Or Minus 100 Basis Points
Portfolio Pulse from Benzinga Newsdesk
CarParts.com expects FY24 net sales at the low end of the $600M - $625M range and a gross margin of 33%, plus or minus 100 basis points. The company has updated its pricing and marketing strategies to target more profitable customers, resulting in improved margins. Management anticipates sequential margin improvement in Q3 and aims for sustainable positive Adjusted EBITDA next year.
July 30, 2024 | 8:55 pm
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CarParts.com expects FY24 net sales at the low end of the $600M - $625M range and a gross margin of 33%, plus or minus 100 basis points. The company has updated its pricing and marketing strategies to target more profitable customers, resulting in improved margins. Management anticipates sequential margin improvement in Q3 and aims for sustainable positive Adjusted EBITDA next year.
The news indicates that CarParts.com is expecting net sales at the lower end of its forecasted range but has seen improved margins due to updated pricing and marketing strategies. The company is also aiming for sustainable positive Adjusted EBITDA next year, which is a positive indicator for future financial performance.
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