MPAA reported fiscal Q3 2025 (quarter ended 2024-12-31) with a record net sales level of $186.2 million, up 8.3% year over year, and a material gross-margin expansion to 24.1% from 17.5% a year ago. The quarter delivered $44.9 million in gross profit, a 49.4% year-over-year increase, underpinned by higher absorption from volume growth and mix shift toward higher-margin, non-discretionary replacement parts (notably brake-related products) as the company scales its newer lines. Operating income reached $17.6 million (9.4% of sales) and EBITDA was $20.4 million (11.0% of revenue), while net income was $2.3 million or $0.11–$0.12 per diluted share. Cash from operations totaled $34.4 million, and net debt declined by approximately $30 million to around $84 million per management commentary, aided by a stock repurchase of 268,130 shares for $2.1 million. Management emphasized margin expansion, working-capital neutralization, and continued leverage of a global footprint to sustain profitability and cash generation into fiscal 2025 and beyond. The company cautioned about non-cash, FX-related impacts from peso leases and forward contracts, and highlighted tariff-related headwinds as a near-term risk. Management guided toward positive annual cash flow and improving profitability driven by volume growth, production efficiencies, and a growing brake-category contribution, with ongoing expansion of diagnostic testing and international opportunities. The earnings call stressed that indicators from the quarter validate a constructive, mid-teens earnings multiple path, supported by strategic initiatives, a diversified product mix, and a disciplined capital-allocation program.