CarParts.com reports Q2 EPS (23c) vs. (15c) last year

Reports Q2 revenue $151.9M vs. $144.3M last year. “We remain fully engaged in our process to explore strategic alternatives to maximize shareholder value and are highly confident that this process is nearing completion. We are currently evaluating several different transaction structures, including a potential sale of the company and strategic investments that we believe have the potential to strengthen our capabilities and unlock new growth. In all of this, our board is committed to continuing to operate in a manner that delivers value to our shareholders. That said, there can be no assurance that we will reach a transaction. During the second quarter, showed measurable sequential progress across the business with results improving over our first quarter. While the full impact of our strategic initiatives isn’t reflected in our quarterly numbers, the month of June was a milestone – we achieved positive Adjusted EBITDA, underscoring that our efforts are beginning to deliver tangible results. A lot of the work is happening behind the scenes-from realigning our fulfillment network to investing in AI and automation-and we expect these efforts to generate approximately $10 million in annualized cost savings. As they come together, we’re confident that our financial performance will follow: first in margin and efficiency gains, and then in earnings growth.” said David Meniane, CEO.