3 Reasons Carparts.com Is on the Right Track
Shares of Carparts.com (NASDAQ: PRTS) were soaring this week, jumping 27.2% on Wednesday after the auto parts e-commerce company delivered a strong first-quarter earnings report. The company said revenue increased 15% to $166.1 million, beating estimates at $162.1 million. On a two-year window, revenue increased 80% as sales surged in the quarter a year ago when the pandemic was at its peak.
Bottom-line results were also strong, with record adjusted EBITDA of $9.4 million, up from $3.6 million a year ago, and GAAP earnings per share of $0.04, which beat estimates of a $0.02 per-share loss.
Like other e-commerce stocks, Carparts.com surged during the pandemic before falling sharply from its peak early last year. However, the latest round of results and the rebound in the stock should give investors confidence in the stock as the pandemic tailwinds fade. Here are three signs that Carparts.com stock looks like a winner.
Source Fool.com
